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Grameen Experience and Prospect of PPP in Bangladesh August 14, 2012

Posted by bdoza in BANGLADESH, ECONOMY.
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I was listening to a talk show in the midnight in one of TV channels. One of the experts of the program was a professor of a university. He was discussing the impact of experience of Grameen on the future of Private Public Partnership’ in Bangladesh.
Grameen Bank was institutionalized through an ordinance in 1983. Through this ordinance, Bangladesh Government has the privilege of having a percentage of share in the capital of Bank and also to appoint the chairman and to have 2 more members in the board of directors. Initially the government had a good share but at present it comes to 3% and the client shares is 97%.
Dr. Muhammad Yunus was its Managing Director since its inception till 2011 until he had to resign on the pressure of the government. During his stay in the helm of bank over the last 30 years, Dr. Yunus had transformed the bank into an internationally acclaimed institution that also brought Nobel Peace Prize Prize not only for him but also for Grameen Bank. Grameen bank has 8.3 million borrowers, 97% of whom are women, about 25 thousand employees, covered above 80,000 villages, distributed more than 11.5 billion US $ (approx. tk 700 billion), recovery rate is 95%.

Government has recently taken a move to change the Grameen Bank ordinance 1983 to empower the government selected-chairman to fix the managing director of his choice ignoring the elected members of the borrower-shareholders of the Grameen bank. Earlier the government also forced Dr. Muhammad Yunus to resign from his of Managing Director against the will of Board of Directors.

The move will create confusion in the minds of the willing partners of PPP of loosing their control on the joint enterprises with the Government.

An ordinary citzen

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Comments»

1. dewboy - August 22, 2012

Grameen Bank is a bank that works for the poor people of our nation. So govenment should take a proper step for elected GB’s MD.


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