Leave Grameen alone

As many as 201 distinguished citizens of the country yesterday demanded that the government reverse its decision to amend the Grameen Bank Ordinance, as they said the move would put the microlender at risk.
The cabinet on August 2 approved a proposal for an amendment to the ordinance of 1983, giving more power to the government-appointed chairman to choose the bank's managing director, sidelining other GB board members.
The post fell vacant after Nobel Laureate Prof Muhammad Yunus was forced to step down as its chief executive by Bangladesh Bank in May last year.
Nine women directors, elected by 84 lakh members of Grameen Bank, control its key ownership, reads a statement signed by the distinguished personalities.
"The government has taken an injudicious step to curb the elected board's power in appointing a person as managing director and to vest power in its nominated chairman."
The cabinet division has already approved the changes to the ordinance, which will put the existence of the bank in danger, the signatories said in the statement. They added that politicisation and nepotism would devour the bank founded by Prof Yunus. It was a reflection of what was being done in other government organisations.
The bank will lose the power to take decisions independently if government control is established over Grameen Bank, the statement says.
"The government's corrupt policy-makers will play ducks and drakes with the hard-earned deposits of the poor."
The signatories include Prof Emajuddin Ahamed, Justice Abdur Rouf, Prof Moniruzzaman Miah, Prof Talukdar Moniruzzaman, Sadek Khan, Prof SMA Faiz, Prof Abu Ahmed, advocate Mahbub Hossain, Mohammad Asafuddowla and Shawkat Mahmud.
They urged people to come forward to protest the move, saying
Grameen Bank, built through decades of efforts made by Prof Yunus, has been facing destruction since it fell prey to the wrath of the government.