In the context of the Supreme Court decision, the 9 elected members of the board of Grameen Bank demand to appoint Professor Muhammad Yunus as the Chairman of the board of Grameen Bank
May 05, 2011
We are the elected members of the 9th Board of Grameen Bank. We have been elected from the 8.3 million borrowers of Grameen Bank. We are the owners of 96.50 % of Grameen Bank. Under these circumstances, it is our responsibility to run the Bank.
Unfortunately, Bangladesh Bank is interfering in our work. Bangladesh Bank has ordered the removal Dr. Muhammad Yunus, founder of Grameen Bank who has been appointed as Managing Director of Grameen Bank by us. We filed a writ petition in the High Court for justice. It is unfortunate, but it is true that the Honorable Court has rejected the appeal without a rule.
We wanted to say that Dr. Muhammad Yunus is the Bank's founder. The Board appointed him. Authority of dismissal is always vested in the authority that gives the appointment. Bangladesh Bank cannot dismiss Dr. Muhammad Yunus without giving the Board of Grameen Bank any opportunity to decide on this issue. This has created an unprecedented episode for Bangladesh.
We again petitioned for leave to appeal at the Supreme Court against the verdict of the High Court for justice. In our decision in the Board we did not impose any restriction of age limit for Dr. Yunus while appointing him as the Managing Director. As owners of the Bank, it is for the Board to decide at what terms we appoint our Managing Director. We are deeply hurt and disappointed at the decision of the Supreme Court. However, we respect the law.
The Review Committee Report mentioned that Grameen Bank's interest rate is lower than all other microfinance organizations in the country. Also the issue of fund transfer was settled long back between the donor country and the Government of Bangladesh. We had hoped that we would get justice from the Supreme Court.
Dr. Muhammad Yunus is the founder of Grameen Bank. He has devoted his life for the Grameen Bank. No one can separate him from us. We will stand by him as long as we live. He will be with us as long as he lives.
We earnestly request the government to give us an opportunity to save Grameen Bank by appointing him as the Chairman of the Board of Grameen Bank.
5.Mosammat Rozina Begum
6.Mossamat Julekha Begum
7.Mossamat Majida Begum
9.Mosammat Safia Begum
Elected Members of the Board of Grameen Bank
The Statement can be downloaded in the original Bangla here