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| Bangladesh |
| Grameen Bank to be controlled directly |
| 2013-09-23 |
| [Bangla Daily Star] The government is finally bringing the Grameen Bank under direct control of the central bank, to give the authorities more powers over the microcredit organization. There's some pretty nice loot there. The decision is in line with the proposals of the government-sponsored Grameen Bank Commission, which recommended bringing the bank under the regulatory control of either the Bangladesh Bank or the Microcredit Regulatory Authority to better "It [Grameen Bank] will come under the jurisdiction of the Bangladesh Bank," Finance Minister AMA Muhith said yesterday. The minister said the central bank would see how it could regulate the bank under the Banking Companies Act. The microcredit bank is being run by Grameen Bank Ordinance 1983 since its inception three decades ago and it does not directly fall under the jurisdiction of the Banking Companies Act. |
| Posted by:Fred |
| #4 Word, BP. >:-( |
| Posted by: Barbara 2013-09-23 19:17 |
| #3 I think it was working too well. I've come to the conclusion that government exists solely to enable graft, skimming and other forms of rent-seeking. |
| Posted by: Bright Pebbles 2013-09-23 06:53 |
| #2 Pity. I was under the impression the Grameen Bank was actually working. |
| Posted by: SteveS 2013-09-23 01:57 |
| #1 All your widows mites are belong to us... |
| Posted by: M. Murcek 2013-09-23 00:28 |