Editorial
Wresting control of Grameen Bank
Let its unique character not be compromised
We have come to learn from the finance minister that the proposed changes to Grameen Bank Ordinance, 1983 are centred on the appointment of the Managing Director (MD). It does become clear as daylight that the singular purpose of the amendment is to transform the character of the bank's uniqueness and originality. We believe this move is to empower the Chairman over the Board with regard to appointment of the MD.
The government having already disassociated Professor Yunus from the Grameen Bank (GB), we fail to understand why it is in effect discarding Professor Yunus's suggestion that he be included in the search committee to select a new MD. One cannot deny the fact Professor Yunus is entitled to such a space given his insight, direct experience with the bank's growth and vision for its future. We cannot suddenly divest him of his links to the institution which is largely of his own creation by imposing changes from without. After all, the institution he helped build on purely democratic and participatory lines have enabled 8.3 million women to be empowered and have their say in decision making and running of the bank.
By allowing the government a say in the appointment of the MD position, it is laid bare to possibilities of politicisation at the top decision-making level of the bank. In the event of a change in power, the next government, in all likelihood, would appoint its own man in the position of MD, thereby ensuring an enforced politicisation of GB perpetually. The unique character of GB that is at the heart of its achievement and one that has been emulated worldwide will be lost forever. Hence the demand from the top 58 women leaders and professionals of the country asking the government not to change the ordinance should be heeded.
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