Yunus Resignation Claim
Grameen Bank trashes reports
Govt report on Grameen’s fund transfer this month: Muhith
Microfinance institution Grameen Bank yesterday refuted reports of a section of media that Dr Muhammad Yunus had resigned from the post of its managing director, and said he has been “discharging his duties as usual”.
“The news is absolutely false,” a press release of Grameen Bank said.
Finance Minister AMA Muhith yesterday declined to comment on the news of Yunus’ resignation.
“I have no comment,” he told reporters. “We have received the report of Norway [on the reported transfer of Norad fund from Grameen Bank to Grameen Kalyan]; and of Grameen Bank as well. We will form an investigation committee this month. After that we will let you know the government’s comment.”
He also confirmed that a report will be submitted within this month.
Asked who will carry out the investigation, he said, “The finance ministry, the government.”
A document of the finance ministry signed by the finance minister on November 13 however claimed that the Grameen chief had submitted his resignation letter to the minister.
But Mohammad Shahjahan, general manager of Grameen Bank, categorically told The Daily Star that Dr Yunus had not submitted any resignation letter to anybody.
“How could he still work if he had submitted his resignation?” Shahjahan asked.
“He is our pride,” Muhith said about Yunus at the end of his discussion with reporters in his office yesterday. “You criticised him exaggeratedly. I am surprised that the news media are busy finding out dirt on others.”
When pointed out that the government had also criticised the Nobel laureate, Muhith said the prime minister had made her comments on the issue only once. After that the government did not say anything again.
When asked about news reports that the standing committee on finance ministry had summoned Dr Yunus regarding the fund transfer issue, Muhith told reporters, “I told the committee that a government body is working on the issue. They can summon Mr Yunus, and I am sure Mr Yunus would not refuse to appear before the standing committee.”
Meantime, documents obtained by The Daily Star showed the finance minister had sought a meeting with the agriculture minister, foreign minister, economic affairs adviser to the prime minister, political affairs adviser to the prime minister, Bangladesh Bank governor, finance division secretary, chairman of the National Board of Revenue, the banking division secretary, and the chairman of Palli Karma Sahayak Foundation (PKSF).
He wanted to discuss Yunus’ resignation, confirmation of his appointment as the chairman of Grameen Bank board, the bank’s interest rate, and Grameen’s plea for income tax rebate.
Grameen’s status as a recipient of income tax rebate is now being debated within the government. The bank has been enjoying the facility since 1983 under the Grameen Bank Ordinance of the same year. This facility ends this year and Grameen sought further extension of it.
The finance division feels that the income tax rebate facility can be extended as Grameen uses the savings for rehabilitation programmes for the poor who are affected by natural disasters.
The National Board of Revenue however argues that incomes of other NGOs involved in microcredit operations are not tax free. Even the income of Krishi Bank is not tax free. It feels that there is no scope for allowing extension of the tax free status for Grameen as it has enjoyed the privilege for long 25 years. Grameen Bank however could not be grouped together with other NGOs, as its operations are governed by a special ordinance.
