The Grameen Bank is to come under the jurisdiction of Bangladesh Bank for the first time since its formation in 1980s.
Finance Minister AMA Muhith informed journalists about the decision after a meeting of the Cabinet Committee on Government Purchase on Sunday afternoon.
In the recent past the minister had spoken about the Nobel-winning bank coming under a regulatory authority. This is the first time the central bank’s name surfaced as the monitoring authority.
The Grameen Bank Commission is expected to submit its report on Sep 30, said Muhith.
“The Grameen Bank will be brought under the jurisdiction of Bangladesh Bank. The share distribution will remain the same. The government will hold 25 percent of its share while other shareholders will own the rest 75 percent,” said Muhith.
The central bank removed Grameen Bank’s founding Managing Director Muhammad Yunus in 2011 on the ground that he had crossed permissible age for bank chief’s post. The position has remained vacant since then.
The High Court later stayed appointment to the MD position.
Muhith said the appointment will be made once the government got the stay order vacated.
Source: Bd news24
