Finance minister AMA Muhith on Sunday said the government was trying to bring some 54 companies under the control of Grameen Bank as they had been established using the funds of the bank.
He said Muhammad Yunus established 54 companies using the welfare fund of Grameen Bank as seed money, thus stepping beyond the jurisdiction of the bank’s policy. Not only that, he added, Yunus held the posts of managing director of most of those companies.
‘As per the policy, Grameen Bank is only for the people of rural areas and those who own less than 0.5 acre of land. The institution cannot step beyond this,’ he said.
Muhith told reporters at his office at secretariat that he discussed the issue at a meeting earlier in the day with Nicholas Dean, US Charge d’Affaires in Dhaka.
The finance minister was reported to have said that the government was worried over the matter and looking for ways to coordinate the management of the numerous companies set up with funds from the Grameen Bank.
The government asked International Finance
Corporation—the World Bank affiliate—for help in finding a solution in this regard.
‘But IFC refused our proposal saying that it was involved with a few ventures among those 54 companies. Now we are looking for a Chartered Accountant firm for carrying out the job,’ Muhith said.
Grameen Capital Management Ltd, Grameen Knitwear and Grameen Distribution Ltd are all profit mongering organisations that originated from Grameen Bank.
There are also profit making ventures like Grameen Phone, Grameen Solutions, Grameen Cybernet, Grameen Star Education Ltd and Grameen Bitek Ltd where there are investments from Grameen Bank but the government is yet to have a clear picture about the investments and organizational relationship between Grameen Bank and these companies.
Muhith was reported to have said that a search committee was scouting to find a person for taking
up the position of managing director of Grameen Bank.
He hoped that the government would be able to appoint a person to the post within three months.
He also told the reporters that he discussed with the US CDA issues like foreign direct investment in Bangladesh, complications regarding Boeing procurement and microcredit activities.
During the meeting Muhith urged Nicholas to encourage US investors to come forward with their investments as Bangladesh offers liberal policies and opportunities for doing business in the country.
He expressed his satisfaction over the achievement in the power sector and informed the US charge d’Affaires that power supply would not be a problem any more.
About microcredit activities of Grameen Bank, he told Nicholas that the bank had no problems in carrying out its activities.
Source: newagebd.com/newspaper1
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