Grameen Bank bins Dr Yunus’ claims

Grameen Bank has denied outright a slew of allegations made by Nobel laureate Prof Dr Muhammad Yunus, terming his statements misleading, false, illegal and deliberate.

The bank issued a comprehensive media statement signed by its media cell head, Anju Ara Begum, on Thursday, clarifying its position.

According to the statement, the bank's board of directors took significant steps in its 155th meeting on February 12 to reinforce the legal rights of its poor and landless members.

During the meeting, the chairman and a specified number of directors were nominated to the boards of seven institutions, including Grameen Telecom and Grameen Kalyan.

The bank accuses Dr Yunus of making misleading and untrue statements during a press conference, asserting that such remarks undermine the rights of its 15-million members and their families.

In reply, Grameen Bank deems it necessary to set the record straight and provide accurate information on the matter.

The bank authorities maintain that they possess the legal authority to appoint a chairman and directors to institutions created with their financial cooperation and benefits.

Detailed references supporting this claim are outlined in the 'Articles of Association' of Grameen Telecom and Grameen Kalyan as well as article 48 of the Articles of Association.

Furthermore, Grameen Bank challenges Dr Yunus' claim for ownership over the bank and the institutions it created, labelling such assertions as conflicting with the interests of its borrowers, unethical and in violation of the law.

The bank emphasises that it is a statutory body established by the Grameen Bank Ordinance 1983, owned by the government of Bangladesh and its borrower shareholders.

The statement refutes Yunus' assertion that institutions or banks created by government order cannot legally establish or own private limited companies.

It argues that the establishment of Grameen Kalyan was proposed by Dr Yunus himself during a board meeting in 1996 while he was serving as the managing director of the bank.

In response to the recent decisions made during the 155th meeting, Grameen Bank representatives visited six institutions located in the Grameen Telecom building, following legal provisions.

The bank claims its representatives were welcomed and cooperated with during the visit, as they handed over the decision letter of the Grameen Bank board meeting to the higher authorities of the institutions in accordance with the rules.

The board expresses hope that the decisions made during the board meeting will contribute to fulfilling the commitment upon which Grameen Bank was established.

The 13-storey Telecom Bhaban houses 16 organisations under the control of Dr Yunus, who is the honorary chairperson of these entities. The Grameen Bank (GB) authorities took control of eight of these entities, including Grameen Kalyan, Grameen Telecom and Grameen Uddoyog. Grameen Telecom owns 34.2-percent stake in the country's largest mobile-telecom operator, Grameenphone.

GB 'forcibly occupies' eight enterprises housed in Grameen Telecom Bhaban

In a separate briefing, Dr Yunus along with the managing directors of Grameen Telecom and Grameen Kalyan alleged that eight of the 16 institutions housed in the building were occupied by Grameen Bank.

He claimed that every institution in the building was established with profits from business activities and thus beyond Grameen Bank's jurisdiction.

"I have witnessed many disasters in my life, but not like this one," said a visibly shaken and disappointed Dr Yunus at a press briefing held on the Bhaban premises on Thursday.

He said, "We are in the midst of a terrible situation. Eight of our establishments have been forcibly occupied. The Grameen Bank is now operating those the way they like. The entrance has been under lock and key since February 12."

He alleged that police were yet to take any action though they were informed of the forcible takeover of the organizations. "A general diary with the local police to this effect was made. "Police did come but nothing was done. We are not being able to run our entities."

Dr Yunus had been the founder and managing director of Grameen Bank. He had to leave the post of chairman following a court order. Before the start of the press briefing at noon, some outsiders gathered in front of the Telecom Bhaban and chanted slogans against Dr Yunus. Staying there for some time they had left the place.

Asked by newsmen whether the entities in question had been built with Grameen Bank's money, he replied in the negative. He claimed that profit money was invested in the enterprises in question under the law of the land.

Meanwhile, in response to recent events involving Dr Yunus, the United Nations has expressed deep concern over the reported circumstances.

Stephane Dujarric, spokesperson for the UN secretary general, addressed the issue during a regular press briefing at the UN Headquarters on Thursday.

During the briefing, a journalist enquired if the UN secretary general aware of the situation.

In response, Mr Dujarric acknowledged the seriousness of the situation, stating: "We're very much aware. I'd have to reiterate that Dr Yunus has been a highly valued partner of the UN throughout the years."

"He's been an advocate for us in both official and unofficial capacities, supporting a number of initiatives surrounding the Millennium Development Goals, the Sustainable Development Goals and our development work in general."

"We're very concerned about the reports that we have seen coming out of Bangladesh on issues related to him," concluded Mr Dujarric.

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