Should the plan go forward, oversight of the bank, currently influenced by the government, would be transferred to Bangladesh Bank. The Financial Institutions Division of Bangladesh’s Ministry of Finance has drafted an ordinance to amend the Grameen Bank Act of 2013. Grameen Bank and Yunus co-shared the Nobel Peace Prize in 2006 in recognition of their efforts to alleviate poverty through microcredit. According to the 1983 Grameen Bank Ordinance, 25 percent of Grameen Bank's ownership is now in the hands of the government, while the remaining 75 percent 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 08, 2025 22:01 UTC