Sunday, May 19, 2024

Micro-credit borrowers baffled

Prof Muhammad Yunus’ removal from the post of Grameen Bank’s managing director surprised many of its borrowers, who dubbed him the pathfinder in elevating them from poverty.
Ayesha Khatun of Noorpur in Pabna took a Tk 130,000 loan from Grameen Bank on November 10, 2009 to help her son run a computer business.
“I simply could not believe my ears when I heard that Prof Yunus has been removed today from his position in the bank,” said a dumbfounded Ayesha, who paid back three quarters of her loan over the last one year and hopes to fully repay in six months’ time.
“He [Prof Yunus] was the one who arranged loans for the poor like us without any collateral. His sudden departure is very sad news for us,” Ayesha said sighing.
She appealed to the government to reconsider the decision saying the Grameen Bank has empowered the rural poor. “We never expect it [Grameen Bank] to fall into the hands of inefficient people,” she said.
Bhupendra Nath Roy and his wife Radha Rani Roy, members of Azimpur Grameen Bank branch of Biral upazila in Dinajpur, got an education loan of Tk 75,000 for their only son Poresh Chandra Roy. Poresh is now studying at Bangladesh Textile University in Dhaka.
The couple heard the news of Yunus’ removal from Grameen Bank from The Daily Star correspondent.
“We have been hearing propaganda against him but his removal from the post is unfortunate whatever the reason may be,” commented Bhupendra, headmaster of Azimpur High School, a remote village school of Dinajpur.
“Dr Yunus has been a pioneer in building a healthy rural economy which helped numerous rural poor in overcoming poverty. The microcredit programme helped people to stand on their own feet,” Bhupendra added.
Rehana Begum, 40, wife of Akhtar Hossain of Tultulipara in Rajshahi’s Puthia upazila has been borrowing from Grameen Bank since the bank set up its office at Pochamaria union in the early ’90s.
She purchased two calves with a loan of Tk 16,000 from the bank last year and she already paid off half the money in 22 instalments. She took another loan of Tk 10,700 yesterday.
“I am protected from the rural loan sharks as the bank began lending us,” Rehana said.
Asked to comment on Yunus’ removal from the bank, she said, “He is a Nobel laureate, he should have stepped carefully.” In the same breath she said the government should deal with Yunus respectfully as he brought honour for the country.
Shahina Haque, wife of Tozammel Haque of Arani of Bagha upazila in Rajshahi, said the bank is a lot better than the lenders in her village. She, however, refrained from commenting on Yunus’ removal.
“He is a very big man. How can I comment on him?”

 

Courtesy of The Daily Star

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