In Defense of Grameen Bank

>Posted by Center Staff
There is great concern in the microfinance world and beyond regarding government efforts to take over Grameen Bank. Todd Bernhardt, Director of Marketing and Communications at the Grameen Foundation, has written a thorough and thoughtful summary of the latest developments as part of the Grameen Foundation blog. The post begins:
As you might have read in the news this week, the Bangladeshi government seems to be moving into the end game in its longtime effort to take over Grameen Bank, a move that has been widely criticized within Bangladesh and around the world.  To briefly summarize, the cabinet – presided over by Prime Minister Sheik Hasina – voted on Thursday to amend the Grameen Bank Ordinance of 1983, effectively removing the Board of Directors’ right to choose the Bank’s Managing Director, and vesting that power instead in the Board’s government-appointed (and aligned) chairman…
To continue reading the rest of  the article on the Grameen Foundation blog, please click here.
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