Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Tuesday, January 23, 2018 02:18:15 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

GB without a board

Share your thought
Post a comment »
Read all () »

THE Grameen Bank (GB) is in big trouble in its birthplace though almost all developing and developed countries have replicated the model as a tool to alleviate poverty and running it excellently. The New Nation reported on Tuesday that the Nobel Peace winning institution is now without a board of directors for 28 months. The government ousted the founder of the microfinance bank Dr Muhammad Yunus from the board in 2011. Now the government neither controls the bank's board completely nor let its functional freedom to revive to run business operation using its unique charter. The bank is now facing difficulties to run day-to-day affairs due to absence of an elected board of directors as mismanagement is gripping it. The bank's operating profit for 2016 plummeted that it saw never before. Finance Minister AMA Muhith had promised to rejuvenate GB in last February but this is nowhere visible around it.

The GB is facing serious crisis in absence of a board. We want to say that no organization least to speak about the GB with a global branding can function and survive long without the board. Media reports said its business is already showing nosedive. We believe any chaos and destabilization in GB will only destroy the organization when Dr Mohammad Yunus is no more at the helm of the organization. It will in no way add to the image of the government. We call upon the government to show efficiency to run the bank and as reality suggests it must allow it to constitute its board as its charter allows for ending uncertainty and chaos at the bank. The world will not look positively at the government policy when it comes to harm the bank.  

The incumbent GB Chairman last month has rightly sought government's intervention to overcome the situation. In a letter to the Finance Minister he has called for immediate steps to amend and add several rules and sub-rules for reconstitution of GB's board. The 12-member GB board has nine borrower-directors, who are elected every three years, and three government-nominated directors, one of whom serves as chairman. The post of nine elected directors are now vacant since their three-year tenure expired on February 7, 2015. But as the new board is yet to be elected, they remain in their post, although ineffective to play any role. Meanwhile, the government is not ready to allow borrowers to elect their representatives the way they like on the board.  But since it can't also ignore the bank's charter that treats borrowers as of owners of the bank, the crisis continues.
We must say absence of a full board is rendering GB ineffective to suffer from leadership crisis. The chairman as representative of the government has no control over the situation. We suggest GB must be saved and allowed to run the organization using its unique way of  management.

Add Rate

News Archive

Inside The New Nation

Editorial »

Banking sector is doomed, merger or no merger

FINANCE Minister AMA Muhith has recommended Bangladesh Bank to start merger of problem banks, but experts fear that such a move would not stop the rot the country's banking sector is facing. On December 28, Muhith wrote a letter to BB Governor Fazle Kabir pointing out that it was the ...

Sports »

Romania's Simona Halep celebrates after defeating Japan's Naomi Osaka during their fourth round match at the Australian Open tennis championships in Melbourne, Australia on Monday.

International »

Turkey in new assault on Kurdish militia on Syria

AFP  :Turkey on Monday shelled Kurdish militia targets in Syria and claimed progress in a cross-border offensive that has stoked concern among its allies and neighbours.The Turkish military on Saturday launched operation "Olive Branch", its second major incursion into Syrian territory during the seven-year civil war.The operation, where Turkish war ...

City »

BNP Standing Committee Member Gayeshwar Chandra Roy, among others, at a protest rally organised by Akhtar Hossain Mukti Parishad at the Jatiya Press Club on Monday demanding release of all BNP leaders including Organizing Secretary of Dhaka Mahanagar Uttar Akhtar Hossain.

Entertainment »

Yami Gautam applauds India’s win at Blind Cricket World Cup 2018

Bollywood actress Yami Gautam took to Twitter to applaud the victory of India at the Blind Cricket World Cup 2018. India retained Blind Cricket World Cup title after beating Pakistan by two wickets in a thrilling final played at the Sharjah Cricket Stadium in UAE on Saturday. India had previously ...

Entertainment »

Razzak’s birthday today

Entertainment Report :If he would alive today he will turn into 77. He died on August 21 of 2017. His sudden demise made a gap in the field industry. He was basically a guardian in film arena. Today is birthday of legendary film actor Razzak. Younger son of Razzak, Khalid ...

Editorial »

Migrant workers` early death should worry our govt

A NATIONAL daily reported that at least 3,480 Bangladeshi workers died abroad in 2017, mostly due to stroke or heart attack. Unbearable physical and mental stress, workload, malnutrition, ill health care, thin sleep and rest time, and unhygienic living decrease the life expectancy of the Bangladeshi expatriates workers working in ...

Cricket »

Star all-rounder Shakib in Marquee' player list for IPL Auction

World no. one all-rounder rounder Shakib Al Hasan booked his place in the IPL auctions as a 'Marquee' player list with a base price of RS 2 Crore which is the base price for the all 16 elite players in the Marquee Players' list.The star all-rounder Shakib was placed alongside ...

Entertainment »

Shreya Ghoshal sang a romantic song in Tum Se Milkar

Shreya Ghoshal is known as the melody queen when it comes to romantic songs and her songs are loved by listeners worldwide and this is the reason Shreya is the prime choice for all the film makers whose films are based on romantic theme. Recently Shreya recorded a beautiful romantic ...

City »

A crest being presented to Prime Minister Sheikh Hasina at the inaugural session of 4000th Parakendra at Mitingachhari in Kaptai Upazila through a video conferencing organised jointly by Parbatya Chattagram Development Board and UNICEF from a hotel in the city on Sunday.

International »

Jordan`s king says East Jerusalem must be capital of Palestinian state

Reuters, Amman :Jordan's King Abdullah expressed concern on Sunday over a decision by Washington to recognize Jerusalem as Israel's capital, saying East Jerusalem had to be the capital of a future Palestinian state.In remarks during talks with U.S. Vice Mike Pence in Amman, the king said the only solution to ...

Editorial »

Repatriation will be useless if Myanmar not considers Rohingya as citizens

DHAKA and Naypyidaw both are now making final preparations to repatriate and receive the first batch of Rohingya Muslims despite protest from different quarters for not ensuring their security and fearless movement. According to media reports, Rakhine State's Chief Minister Nyi Pu insisted on completion of the finishing touches on ...

Sports »

Romania`s Ana Bogdan makes a forehand return to United States` Madison Keys during their third round match at the Australian Open tennis championships in Melbourne, Australia on Saturday.

Entertainment »

Aparna in psychological thriller film

Entertainment Desk :National Award  winning actress  Aparna Ghosh has always been lauded for choosing experimental projects for film. Being popular in small screen, she is famous in big screen as well for her extraordinary acting and simplistic smile.The actor steeped into the media through acting in a TV drama titled ...

City »

Different organisations placed floral wreaths at the plaque of Shaheed Asad in front of the main gate of Dhaka Medical College on Saturday marking Shaheed Asad Day.

Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Write a comment to this news