'Yunus should retire'
Dhaka, Feb 15 (bdnews24.com)--The finance minister has said that Grameen Bank boss Muhammad Yunus should retire. Abul Maal Abdul Muhith told the BBC on Tuesday that Yunus had reached the normal retirement age for private bank executives. The latest comments reflect an increasing divide between the Awami League-led government and Yunus, stated the report.
Muhith said that the government began talking about who would succeed Yunus and redefining the bank's role almost a year ago. The minister pointed out that according to Bangladeshi rules, the retirement age for executives at private banks was 65. Yunus is 70. "He should give it to others to continue because you never continue all the time in any institution," Muhith told the BBC. However, the minister did agree that the retirement rules were seldom implemented to the letter.
Grameen Bank has recently come under the spotlight after a Norwegian television documentary alleged that aid money was wrongly transferred to another part of the bank in the mid-1990s, which bdnews24.com also covered. Subsequently there was another story on Yunus' family business being managed by Grameen Bank in bdnews24.com which had obtained a copy of the contract handing over all management responsibilities of Yunus' family owned Package Corporation to Grameen Bank.
The government set up a review committee in January to look into the bank's affairs. Yunus declined to comment on the finance minister's remarks.
Muhith said that the government began talking about who would succeed Yunus and redefining the bank's role almost a year ago. The minister pointed out that according to Bangladeshi rules, the retirement age for executives at private banks was 65. Yunus is 70. "He should give it to others to continue because you never continue all the time in any institution," Muhith told the BBC. However, the minister did agree that the retirement rules were seldom implemented to the letter.
Grameen Bank has recently come under the spotlight after a Norwegian television documentary alleged that aid money was wrongly transferred to another part of the bank in the mid-1990s, which bdnews24.com also covered. Subsequently there was another story on Yunus' family business being managed by Grameen Bank in bdnews24.com which had obtained a copy of the contract handing over all management responsibilities of Yunus' family owned Package Corporation to Grameen Bank.
The government set up a review committee in January to look into the bank's affairs. Yunus declined to comment on the finance minister's remarks.
__._,_.___
