Bangladesh grants tax exemption to Grameen Bank until 2029

The government has granted Grameen Bank a tax exemption until 2029, conditional upon submitting its income tax returns. Under the same condition, the non-profit religious charity As-Sunnah Foundation has been granted a tax exemption for income from donations until June of the same year. Since its establishment in 1983 under a military ordinance, Grameen Bank has consistently received tax exemption benefits. This privilege falls under Section 33 of the Grameen Bank Ordinance, which has remained effective even after the ordinance was enacted into law in 2013. Grameen Bank and Yunus were awarded the Nobel Peace Prize in 2006 in recognition of their efforts to alleviate poverty through microcredit.