Sunday, August 5, 2012Expressing deep disappointment over government’s efforts to establish control over Grameen Bank, US Senator Barbara Boxer has called on the Bangladeshi government to stop interfering in the management of the bank.“I am deeply disappointed in the Bangladeshi government’s efforts to exert control over Grameen Bank,” Senator Boxer said in a statement issued in Washington DC on August 3.
“This move threatens the ability of millions of Bangladeshi women to find a path out of poverty. Critical decisions regarding the Grameen Bank’s leadership should be left to the Board of Directors so that the bank can continue its vital work helping Bangladeshis start businesses and provide for their families,” she added.
Boxer said Grameen Bank is an important institution that provides loans and other assistance to 8.3 million borrowers, mostly women and asked the government to stop interfering, so the borrowers can gain financial independence and help support their families.
The cabinet on August 2 with Prime Minister Sheikh Hasina in the chair approved a proposal for amending an ordinance to give more powers to the Grameen Bank chairman to choose the managing director of the microlender.
Senator Boxer has argued that Grameen Bank’s Board of Directors, which includes nine women elected by the Bank's shareholders, should be empowered to appoint a permanent individual to the position.
Grameen Bank was founded by Nobel Laureate Muhammad Yunus and provides microcredit loans and other services to millions of poor borrowers.
On June 27, Barbara Boxer led the 17 women of the United States Senate in writing to Prime Minister Sheikh Hasina, urging her to allow the Bank's Board of Directors to appoint a managing director.
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