Wednesday, August 15, 2012

Grameen Bank Hunt for new MD soon: Finance Minister AMA Muhith,Bangladesh


BANGLADESH NEWS

Finance Minister AMA Muhith yesterday said the government will soon publish advertisements in the press seeking applications from internationally renowned candidates for the post of managing director of the Grameen Bank.
Many persons with international reputation and recognition have made known their interest in becoming the MD of the microlender, he told newsmen at his secretariat office.
The post fell vacant after Prof Muhammad Yunus stepped down as MD in May last year to protect the Grameen Bank (GB) from any outside interference.
A search committee would be formed to pick the next MD when the move to amend the Grameen Bank Ordinance, 1983, takes final shape. The committee will invite the applications, added the minister.
The US did not put any pressure on the government regarding the GB, said Muhith. It just said an efficient and internationally renowned person should be appointed as MD. "We have no problem with that. We are also working in this direction."
His comments came just a day after Washington, through its ambassador in Dhaka, conveyed its worries about recent developments regarding the GB, including the government's move to change the ordinance that would undermine the role of the GB's board members in picking its MD.
The US has been a staunch supporter of the GB and Nobel Laureate Prof Muhammad Yunus.
The minister said though the government has been trying for one and a half years to appoint the MD, it has not yet been successful in that regard.
"The selection committee wants Prof Yunus as the chairman, which is not possible…. I had thought [their] better senses would prevail, but it has not happened."
He also reiterated that Yunus' statement claiming the government wanted to take control of the GB is incorrect.
The GB board, noted Muhith, did not discuss the appointment of its MD for the last 20 years.
PADMA BRIDGE ISSUE
The World Bank has committed a major mistake by taking a hasty decision on the funding of the Padma bridge project, observed the finance minister. "My government and I want that the World Bank finances the project."
He said the global lender's allegation of corruption in the project has tarnished the country's image internationally. "The image should be restored. It will be easy if the World Bank finances the scheme."
Asked whether the government had written any letter to the World Bank, Muhith said, "It takes only 10 minutes to write a letter. It can be done any time."
M N Prasad, executive director for South Asia at the World Bank, has continued discussions with the Washington-based lender, he mentioned.
Former finance secretary Dr Mohammad Tareq joined the discussion yesterday as an alternate director.
The Asian Development Bank and Japan International Cooperation Agency have already talked about the issue. A letter will be sent when the discussion on the financing takes a positive turn, said the minister.

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