‘Grameen Bank ruin won’t be allowed’

Former Grameen Bank Managing Director Muhammad Yunus has said the people will determine the fate of the microcredit organisation, not the government.

“What the government wants to do with Grameen Bank will not happen, instead, what the people want will,” he said at the inauguration of the ‘Social Business Day’ at Hotel Radisson in Dhaka on Friday.

Yunus who shared the Nobel Peace Prize with Grameen Bank in 2006 said ‘destruction’ of the bank which contributed to the country cannot be allowed.

“It’s an institution of the people. The people will prevent it (move for its destruction).”

He told the bank’s board of directors’ women members, elected from among its borrowers, “We’ll be beside you. Nobody can snatch your bank.”

His reaction came following media reports that the government-formed Grameen Bank Commission was going to suggest decentralisation of the bank management and raising the government stake in it to a majority 51 percent.

Nine of the 13 Grameen Bank board members recently protested the planned government move in a press conference.

About the attitude of the foreign delegates coming to attend the ‘Social Business Day’ programme, Yunus said: “They’re concerned about Grameen Bank.”

The day is observed on June 28, the birthday of Yunus. The theme of this year’s day is ‘transforming vision into reality’.

About social business Yunus said: “Every day many people from different countries of the world are evincing their interest in social business. The European Union has formulated policy about it. In Germany, a social business city is being developed.”

He said social business was no more a small matter but small entrepreneurs can invest in the field.

The US Ambassador in Dhaka, Dan Mozena, said: “Microcredit and social business have even reached America. Yunus has shown how capital-less unskilled poor people can be entrepreneurs.”

Source: Bd news24

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