Below are the articles about what is happening with the Bangladeshi Government in concern to Grameen Bank. Although Yunus is no longer the managing director of Grameen Bank, he continues his work with social business and is now running over 60 companies all aimed at making the world a better place to live in.
October 19, 2014 Muhith for reducing microcredit interest in The Financial Express
I’m worried that they are going to try to reduce interest rates at Grameen Bank (which is now under government control) to make it not a sustainable social business, as it has been. It currently covers it’s costs just enough to stay in business and grow the company to reach more people in need.
April 22, 2014 Microfinance Faces Uncertain Future in Bangladesh – The Diplomat
April 17, 2014 Article in The Daily Star – Grameen Bank moves closer to Government Grip
January 11, 2014 Article in The Economist – Another Beating
January 9, 2014 Article in The Sydney Daily Herald – Australia joins international call for fresh poll
October 27, 2013 Article in The Bangladesh Chronicle – Grameen Bank Bill placed before Parliament
October 3, 2013 Article in The Bangladesh Chronicle – Cabinet okays drafts bill with Bangladesh Bank to control Grameen Bank
September 23, 2013 Article in The Bangladesh Chronicle – Grameen Bank to Fall Under Jurisdiction of Bangladesh Bank
February 20, 2013 Article in The Daily Star – 9 Board Members Reject Government Report
February 17, 2013 Article in the Daily Star – Government Thinks Grameen Board Should Quit!
Read my article on what’s happening September 2012 (as you’ll see in the 2/20 article, they are interested in the money from Grameen Phone)
Article in The New York Times by David Bornstein August 22, 2012
Aug 2, 2012- Government to clip Grameen Bank’s Board’s Wings
August 4, 2012 Undermining The Grameen Bank in The Daily Star
August 5, 2012 US State Department Comments on Situation
August 22, 2012 Article in The New York Times by David Bornstein
August 23, 2012 Article in The Huffington Post by Eliot Daley
August 24, 2012 Yunus – It’s a Black Day
October 3, 2012 Yunus interviewed by The Economist
Listen to the Board Members speak out about what’s happening to Grameen Bank
To see why I’m extremely concerned about putting all the power of Grameen Bank in the new managing director’s hands, watch the clip below at 12 minutes and 15 seconds to see the Prime Minister’s comments.
You will see she plants the seeds that Grameen Bank charges 40% interest.
They do not charge 35-45% interest, the basic loan is a 10% flat fee over 44 weeks which is just under 18% APR. In interviews she continues to plant this idea that he charges 40%. It is such a shame.
Her double speak on her comments on Yunus and “sucking the blood of the poor” is also a shame.
As far as it goes with his run for office. I was there filming in 2007 while Yunus toyed with the idea of running for office and I was surprised by the responses I got when I’d ask people what they thought of the idea. A lot of people told me that they didn’t thing that he should run for office because he was too good of a man for the corrupt business of politics.
Read my opinion on Yunus’ removal.
On another note, I am also concerned about the number of people who have disappeared in Bangladesh. This has nothing to do with Grameen, but I am worried about the situation.