Sunday, July 13, 2014





Bangladesh plans closer oversight of Grameen Bank


October 04. 2013 1:36AM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Bangladesh is placing Grameen Bank, which pioneered small loans for the poor, under closer scrutiny by the country's central bank.


The Cabinet of Prime Minister Sheikh Hasina on Thursday approved the draft of a law to regulate the bank and bring it under closer monitoring by Bangladesh Bank.


The law must also be approved by parliament.


Grameen Bank has been a focus of contention in recent years after the government removed its founder Nobel laureate Muhammad Yunus as managing director, saying he had breached retirement age rules.


Yunus has repeatedly accused the government of trying to destroy the bank, but authorities deny the allegations.


Cabinet Secretary Musharraf Hossain Bhuiyan says the changes would replace a 1983 ordinance under which the bank was founded.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds