The parliamentary standing committee on finance ministry on Monday
submitted its report on Grameen Bank Bill 2013 to the parliament.
Committee chairman AHM Mustafa Kamal submitted the much-talked about
Grameen Bank Bill which is expected to be passed in parliament very
soon.
Earlier on October 30, the parliamentary watchdog finalised its
recommendation for the passage of the Grameen Bank Bill that had sought
enactment of a new law to bring the microcredit institution under the
strong watch of the central bank.
The parliamentary watchdog assigned to scrutinise the bill, enactment of
which would repeal the Grameen Bank Ordinance 1983, at its meeting
finalised its recommendation for the passage of the bill without any
major change.
It observed that the authorities could make the Grameen Bank accountable
to the central bank as the government itself was its major shareholder.
It said the microcredit institution pursued the regime of HM Ershad to
reduce the government’s share in the bank to 25 per cent from 60 per
cent.
Earlier on October 27, finance minister AMA Muhith tabled the Grameen Bank Bill 2013 in parliament.
The draft law has proposed that two firms would audit the Grameen Bank transactions and place the reports to the central bank.
Nobel laureate Muhammad Yunus and the government had serious
disagreement over the appointment of the managing director of the bank.
The bill proposed that the government would appoint a chairman from the
three government-nominated directors to the Grameen Bank management
board.
In consultation with the board of management, the chairman will form a
select committee with three to five members, which will prepare a panel
of three candidates for the post of the managing director, the chief
executive of the microcredit institution having 8.3 million borrowers,
the bill proposed.
The central bank is the authority for the appointment of the managing
director who must have knowledge on rural economics, economics or
micro-finance. The managing director will be a full-timer and serve up
to 60 years of age.
The bill says that the government can issue any order to resolve any
inconvenience that comes to the fore for the execution of the proposed
Grameen Bank Act. (source)