Grameen Bank has sought tax exemption on its income for the period of six months with retrospective effect from January 2011 to June 2011 that left out of tax exemption facility given by the National Board of Revenue. The GB had enjoyed tax exemption facility from its
grameen bank
Dr Yunus to receive US Congressional Award Wednesday
Nobel Laureate Professor Muhammad Yunus, the founder of Grameen Bank, will receive the US Congressional Gold Medal award on Wednesday. Prof Yunus is already in the USA to attend the historic award-giving ceremony to be held in Washington, an official at the Yunus Centre told UNB on Monday.
Grameen Bank amendment bill passed
The House yesterday passed Grameen Bank (Amendment) Bill, 2012 amid boycott by the lone independent MP Fazlul Azim. The Jatiya Sangsad also passed three more bills — International Crimes (Tribunals) (Second Amendment) Bill, 2012, Registration (Amendment) Bill, 2012 and
Grameen Bank owners demand cancellation of ordinance amendment
Members of the Grameen Bank’s board and shareholders on Wednesday demanded cancellation of the amendment to the Ordinance which has stripped the board of its power to appoint the managing director. They said that since the inception of Grameen Bank, all changes in laws and regulations concerning it were aimed at empowering the women, but the ... Read more
Yunus blamed to shift focus
Claims his centre about WB loan cancellation Yunus Centre, which promotes the work of Prof Muhammad Yunus, yesterday said the Nobel laureate is being blamed for the World Bank’s fund cancellation to turn people’s attention away from the real issue. The World Bank cancelled its loan for the Padma bridge project, saying it had proof ... Read more
Grameen Bank amendment ordinance to be repealed if BNP is voted to power: Moudud
Bangladesh Nationalist Party leader Moudud Ahmed on Friday said that the Grameen Bank (Amendment) Ordinance would be repealed to ensure empowerment of women if the party is voted to power. Addressing a discussion at National Press Club, the BNP standing committee member asked the government to repeal the
Grameen Bank Ordinance amended
Board’s power to appoint MD reduced drastically President Zillur Rahman has promulgated the Grameen Bank (Amendment) Ordinance 2012, which contains a provision for the formation of a ‘selection committee’ to appoint the managing director of the world-famous micro-credit organisation. The Grameen Bank’s chairman, in consultation with the board of directors, will now form
It’s a black day
Nobel laureate Muhammad Yunus on Thursday termed the amendment to Grameen Bank Ordinance ‘a black day’ for the nation and said it would mark the beginning of the end of the glorious history of Greameen Bank.’ The founder of Grameen Bank made the remarks in a press statement within hours of the government notifying the ... Read more
Grameen’s loan disbursement, recovery rates fall
The rate of loan disbursement and recovery by the Grameen Bank fell in 2011 due to sluggishness in its activities, ostensibly caused by a long drawn out row between the government and the bank over its management. Available data of the Grameen Bank, sent recently to the finance ministry by its incumbent management, showed that Tk ... Read more
Committee to find out MD of Grameen Bank soon: Muhith
The government is set to form a search committee to find a managing director for the Grameen Bank after amendment of the bank’s Ordinance was approved by the President on Wednesday, said officials. Consent to the amendment by President Zillur Rahman is the last major step to enable the government to appoint a new MD ... Read more
US wants transparency in selecting Grameen Bank MD
The United States has again urged the Bangladesh government to ensure transparency in the selection of a new managing director of the Grameen Bank. The US State Department’s spokesperson, Victoria Nuland, also called on the government not to take any step that would reduce the ‘integrity or efficacy’ of the
US worried about GB
Mozena tells Muhith The US has reiterated its concern at the government’s move to curtail the power of Grameen Bank’s borrowers in the selection of the bank’s managing director. Its ambassador in Dhaka, Dan Mozena, expressed his country’s concern at a meeting with finance minister AMA Muhith at the latter’s secretariat
Women leaders rally behind GB
Say govt actions will make its owners powerless More women professionals and leaders have raised their voices against a government move to amend the Grameen Bank Ordinance of 1983, and thereby curb the autonomy of the Nobel-winning microlender. Forty-six women yesterday issued a statement under the banner of Friends of Grameen, condemning the proposed changes ... Read more
Yunus not telling truth: Muhith
The finance minister, Abul Maal Abdul Muhith, on Sunday said that Muhammad Yunus was not telling the truth when he said that the government was out to grab Grameen Bank with its various activities and Yunus’s saying such things were harmful for the country. ‘He is running unnecessary campaigns that the government wants to take ... Read more
Save Grameen Bank: 201 citizens
Two hundred and one citizens in a statement on Saturday called on all to save the Grameen Bank and demanded cancellation of the ‘motivated and illogical’ government decision of curtailing the authority of the bank’s board and vesting of authority in its chairman to appoint the managing director. They called on the people to raise ... Read more
Move to amend GB ordinance undemocratic
Ex-adviser tells seminar The government’s move to amend the Grameen Bank ordinance is “undemocratic” as it does not represent the opinions of the bank’s majority shareholders, former adviser to a caretaker government Dr Akbar Ali Khan said yesterday. “Ninety-seven percent stake in the Grameen Bank is owned by poor women. So the
Leave Grameen Bank as it is
58 top women leaders ask govt not to change ordinance, deprive real owners A large group of 58 women leaders and professionals yesterday condemned the government move to amend the Grameen Bank Ordinance, saying it would deprive its real owners of their role in managing their bank. “We are deeply shocked and saddened by the ... Read more
GB paid Tk 10cr in taxes
Tax Exemption Riddle GB paid Tk 10cr in taxes Refund unlikely Grameen Bank, for the first time, had paid Tk 10 crore in taxes to ensure compliance for a period of six months, when there was no tax exemption for the microfinance pioneer, said NBR officials yesterday. The Nobel Peace Prize winning entity deposited the ... Read more
Outcry over Grameen unnecessary
Hanif slates civil society Though the government has not taken any action against the authorities of Grameen Bank (GB), some members of the civil society have raised a hue and cry in the name of saving the bank, complained acting general secretary of Awami League Mahbubul Alam Hanif yesterday. The government has just formed a ... Read more
Tax men swoop on 54 entities
Grameen Bank Tax men swoop on 54 entities The National Board of Revenue yesterday launched a hunt for tax-related information on Grameen Bank’s 54 associated but legally independent entities. The NBR asked one of its tax zones to provide it with income tax records of the bank’s associated organisations, an NBR official said yesterday, a ... Read more