Shocking plan to destroy Grameen Bank

The news item under the heading 'Government Plans to Overhaul GB' published in the 'Financial Express' on 18th May 2011 is shocking and frustrating. Grameen Bank is a well performing bank with 97 per cent recovery rate. Why the government plans to overhaul it instead of overhauling the ailing state owned banks. None of the state owned banks are performing well. They are crippled with various problems due to political interference. Bad loans are piling up. Recovery rate is well below the average. Government appointed directors are busy with plundering money by purchasing bad loans from other banks. The lone performing bank of the country is Grameen Bank which started its journey under the able leadership of Mr Mohammad Younus. The Government is planning to ruin it also by taking control over it. This is simply shocking and frustrating! Kazi Ahmed Toronto, Canada