The Advisory Council of the interim government has given the go-ahead in principle to the amendment proposal of the Grameen Bank Ordinance that seeks to reduce the government's stake in the Nobel-winning microcredit institution to 10 percent from the present 25 percent.
Grameen Bank is set to get a fresh lease of life as the government plans to reduce its stake to 5 percent from the existing 25 percent.
The plan has been outlined in the draft of a new ordinance
The interim government has reinstated a tax exemption for Grameen Bank and offered it for the next five years, meaning until December 2029.
The National Board of Revenue (NBR) issued a gazette on Thursday, confirming the reinstatement of Grameen Bank
It will be on course to invest $5 billion within 2030
Grameen Bank has no ownership of Grameen Kalyan and Grameen Telecom and it does not have the legal authority to nominate directors and chairman at the two non-profits, said the Yunus Centre yesterday.
Grameen Bank yesterday said it followed rules while nominating chairman for three not-for-profit companies, replacing Nobel Laureate Prof Muhammad Yunus, who founded the organisations.
The case of Prof Yunus is symptomatic of the erosion in the credibility of our institutions.
The Advisory Council of the interim government has given the go-ahead in principle to the amendment proposal of the Grameen Bank Ordinance that seeks to reduce the government's stake in the Nobel-winning microcredit institution to 10 percent from the present 25 percent.
Grameen Bank is set to get a fresh lease of life as the government plans to reduce its stake to 5 percent from the existing 25 percent.
The plan has been outlined in the draft of a new ordinance
The interim government has reinstated a tax exemption for Grameen Bank and offered it for the next five years, meaning until December 2029.
The National Board of Revenue (NBR) issued a gazette on Thursday, confirming the reinstatement of Grameen Bank
It will be on course to invest $5 billion within 2030
Grameen Bank has no ownership of Grameen Kalyan and Grameen Telecom and it does not have the legal authority to nominate directors and chairman at the two non-profits, said the Yunus Centre yesterday.
Grameen Bank yesterday said it followed rules while nominating chairman for three not-for-profit companies, replacing Nobel Laureate Prof Muhammad Yunus, who founded the organisations.
The case of Prof Yunus is symptomatic of the erosion in the credibility of our institutions.
It forms a mutual fund named Capitec Grameen Bank Growth Fund
