The Saga of a Bank

Finally the government has amended the Grameen Bank Ordinance 1983. The President has kindly approved the Ordinance of 2012.

With much debate and squabble from within the country, the government has proved to have the guts to ignore any criticism and concern within and without the country.

It has happened not only in case of Dr. Yunus. The same episode was demonstrated in many cases in our country. Paying no notice to anybody’s concern is surely a symptom of a bold government which we did not have since long. But, does it go with the concept of government which respects people’s view? What is the cut of point between the concept of courageous government and the democratic government? The question may rather be of theoretical in nature if it is conflicting in practice.

However, with the amendment, it seems that the power of the board’s has been curtailed in a significant way.

The provision as it is today is almost similar to that of the government-owned banks of the government. But the features and services of Grameen Bank and those of the state owned banks are not similar indeed. Without considering that fact government has moved to amend the ordinance.

This is the bank which is owned by 8.3 million women. Even if we accept the government’s condemnation for this bank, it has contributed for women’s empowerment which is recognized by all. Some jargons like women empowerment, micro-financing and so have been added to our life very recently. We have learnt to know that empowerment without financial empowerment is no empowerment. But Dr. Yunus has been materialized the very truth since 1983. He never acclaimed himself for huge change in rural Bangladesh and women empowerment. But is it that little as the government is trying to belittle?

This Bank is owned by the women 95% of whom are rural poor.
As per the original provision of the Bank the board of directors of the Bank was empowered to appoint its MD. With the new provision the Chairman will consult the board to appoint the selection committee to appoint the MD.

The new provision will create the way for government’s partisanship in appointing the MD. It is clearly the deviation of the concept of this Bank. It has ignored the people’s participation where the people owned its 97% share. The appointing authority of the chief executive officer of a bank has been vested to the authority which own only 3% share by ignoring the 97% sharer/owner.

The write is in-charge of Law and Human Rights, banglanews24.com