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Grameen Bank - Assignment Example

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The Grameen Bank is a bank for the poor. It was established in 1976 by professor Yunus in order to help poor people because he wanted to unleash the people from…
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Grameen Bank
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Grameen Bank

Download file to see previous pages... It works like a cooperative wherein borrowers and depositors are owners, and are paid regular dividends. It is different because of the conventional methodology it uses. The bank offers loans without collateral to the poorest of the poor like beggars. Grameen bank stopped getting donations and loans because they deemed that they had enough resources for operation.
Prof. Yumus was prompted to resign from his position because of the Supreme Court ruling that he must retire since he had reach the retirement age already. Yumus is already 70 years old, while retirement age is 60. Yumus wanted to contest this ruling because prior to the SC ruling he was already willing to resign but under different terms but was not allowed by members. He wanted to leave the bank in a prestigious way.
Many believe that the conflict is political because of the “blood bath” between Yunus and the Prime Minister of Bangladesh for the reason that Yunus planned to start a political party in 2007. Yunus later on, did not continue with the idea, but the hatred had started and because of this, he had gathered powerful enemies.(Epatko, Larisa, March 2011).
Still another conflict that lingered with the bank was after a documentary was aired investigating a Norwegian Aid Funds being transferred from one entity to another in order to preserve bank’s tax exempt status. Eventually, investigation proved that there was no anomaly or fraud in the transaction.(Epatko, Larisa)
The situation illustrates potential tension between the stakeholders of Grameen bank, the civil society and the government because of the government’s attacks that Yumus is trying to evade taxes following the release of the Norwegian documentary (Dhaka, Jan. 6, 20ll). Further to this, is the seeming insistence of the government to find faults in the Grameen bank’s operations. The government has just announced that it will conduct an ...Download file to see next pagesRead More
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