Grameen Bank, the Nobel prize-winning microfinance institution, is poised for a significant shift in its ownership and governance structure. Should the plan go forward, oversight of the bank, currently influenced by the government, would be transferred to Bangladesh Bank, according to a bdnews24.com report. The Financial Institutions Division of Bangladesh’s Ministry of Finance has drafted an ordinance to amend the Grameen Bank Act of 2013. According to the 1983 Grameen Bank Ordinance, 25 per cent of Grameen Bank's ownership is now in the hands of the government, while the remaining 75 per cent belongs to borrowers. The project was subsequently endorsed by Bangladesh Bank, with other financial institutions, including Bangladesh Krishi Bank, participating in its development.

Source: bd News24 January 09, 2025 03:37 UTC