Parliament on Tuesday passed the much talked about ‘Grameen Bank Bill 2013’ providing for abolishing the military government promulgated ‘The Grameen Bank Ordinance 1983’ and make the law more time befitting. Finance Minister AMA Muhtih on Tuesday moved the bill in the House, which was passed by voice vote amid absence of the opposition.The new bill also provides for bringing the leading microcredit institution under the strong watch of the central bank.
The Cabinet on October 3 approved the draft of the Grameen Bank Bill 2013. The Bill stated that the headquarters of the Bank will be situated in Dhaka.
The authorised capital of Grameen Bank was TK 350 crore earlier. Now it will be increased to Tk 1000 crore and there will be 10 crore shares of the Bank.
The Bank’s paid-up capital will be increased to Tk 300 crore from Tk 50 crore. The government shares of the paid up capital will be 25 percent and the government could increase its paid up capital from time to time. As per the new law, the bank will have to consult with the government before taking any policy decision.
The Board of the Bank will comprise 12 members. Of them, three will be given from the government while rest of the members will be elected from the shareholders.
-With The Independent input
