Grameen Bank to Come Under Bangladesh Bank Supervision
Thursday, May 12, 2011
The government plans to bring Grameen Bank (GB) under the direct supervision of the Bangladesh Bank (BB) to be guided by Bank Company Act, 1991.
The move, according to official sources, is aimed to establish accountability and transparency in the banking activities of the GB.
The GB Ordinance, 1983 will be amended for the purpose.
A proposal in this connection will soon be placed to Prime Minister Sheikh Hasina for approval. The Ministry of Finance (MoF) is now busy finalising a set of proposals to bring about reforms in the GB, a top official in the ministry said.
A good number of recommendations including that of obtaining mandatory prior approval from BB in formulating regulations for GB, made by the Review Committee on GB Affairs, have been considered by MoF for the approval of Prime Minister, he added.