Government Attempts to Grab Grameen

Prime Minister Sheikh Hasina Wazed has intensified the government's campaign against Grameen Bank founder Muhammad Yunus, seeking to move his famed "People's Bank" under the jurisdiction of the Bangladesh central bank. Finance Minister AMA Muhith told Dhaka based journalists yesterday of the decision, saying the central bank would function as the monitoring and regulatory authority over the bank, which is now mostly owned by the poor women to whom it makes tiny loans. However, it is questionable whether the government can pull off the transfer of the privately owned bank to the government before the next national election, due before Jan. 24.

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