Nobel Laureate and founder of the Nobel-winning microcredit institution Grameen Bank Prof Muhammad Yunus condemned on Wednesday the government action changing the Grameen Bank, and called it a shame for the nation and the whole world.
"I condemn the action of the government of Bangladesh changing the Grameen Bank law in the strongest language possible. With these amendments, the government has opened the door for its ultimate destruction. What a shame for the nation, and the whole world," he said in a statement, reports UNB.
It said, "I feel extremely sorry that the nation has to go through the unnecessary traumatic experience of seeing a great global iconic institution, created by this nation, be brutally harmed by a group of irresponsible and thoughtless people. The immediate task before the country is to repair the enormous damage done to the Grameen Bank law at the earliest opportunity, before it is too late."
Prof Yunus hoped that the whole nation, particularly all women, along with the women of Grameen Bank, their family members, as well as the staff of the bank will rise to the occasion and make it happen.
He said the Grameen Bank was created as a bank owned by poor women, and managed by poor women.
"Its legal structure didn't allow any government interference of any kind, except for regulatory oversight. The amendments to the law which have just been introduced, have created the opportunity for the government to take 100 per cent control of the bank if they wish to. These amendments fundamentally change the character of the bank," the statement said.
On Tuesday, parliament passed the much-talked-about Grameen Bank Act, 2013, one that elevated the government roles in the running of the microcredit organisation without any increment of its ownership stakes.
"As the Grameen Bank has been running under an ordinance, it was necessary to enact a law," Finance Minister AMA Muhith said in parliament before passing the bill.
Jatiya Party MP Mujibul Haque Chunnu questioned why such an important bill was being passed when the national election is knocking at the door.
He suggested taking public opinion before the passage of the bill as 'interests of many people have been featured in it'.
