Dr. Yunus won Nobel Prize along with many other prizes, now what left is
enlisting his name into Guinness World Records for being the longest
serving Managing Director of any company in the world, TWENTY EIGHT
years. Why we will let that record go? Someone should take that
initiative to let that happen. Probably this did not happen before and
will not happen unless it is owned by someone personally.
He was appointed Grameen Bank Managing Director by Gen. Ershad in 1983,
since then:
* Ershad Government completed its NINE years
* Justice Shahabuddin Ahmed's caretaker government completed its
term
* Khaleda Zia completed her first five year term
* Khaleda Zia completed her second short term
* Justice Muhammad Habibur Rahman's caretaker government completed
its term
* Sheikh Hasina completed her five year term
* Justice Latifur Rahman's caretaker government completed its term
* Khaleda Zia completed her third full term
* Professor Iajuddin Ahmed - was compelled to resign on
11/January/2007
* Dr. Fakhruddin Ahmed's military caretaker government completed its
two year term
* Sheikh Hasina's government running almost to its two and half year
What a world record for Dr. Yunus, since his assumption of power as
Managing Director of Grameen, TEN government has come and gone and the
eleventh is running But he is still in the helm of Grameen Bank,
congratulation to Dr. Yunus, many more to come, why not outshine eleven
more!
Thanks,
Shamim Chowdhury
Maryland, U.S.A.
==============================================================
--- In alochona@yahoogroups.com, "Emanur Rahman" <emanur@...> wrote:
>
> This is how mischief is made. Through the presentation of distortion
as truth. Let's get a few facts straight:
>
> • Grameen Bank is not a government institution. The government
is only a shareholder.
>
> • The rate of interest charged for loans gets higher as the
notional of the loan gets smaller.
>
> • An interest free regime would have resulted in a loss making
entity requiring constant subsidy.
>
> • No statistics or metrics have been produced to show that
micro-credit has been largely unsuccessful.
>
> • Yunus was not removed because micro credit is a failure.
>
> • If 10 poor people were lifted out of poverty, that is still
more than BAL (starting with Mujib) or BNP has ever achieved.
>
> • Yunus was not found guilty of any form of corruption.
>
> • Grameen's commercial activities are controversial but that is
an intellectual debate about the limits (should there be any?) that
should be applied to social enterprises in a free market economy.
>
> To my mind, intellectual dishonesty is one of the worst of all crimes.
However it makes sense that this is the stock in trade of politicians,
their sycophants and their charlatans.
>
> Envy is the root cause here - plain and simple - and EVERYONE
including this charlatan knows it. The sycophants have so little
backbone that they won't even say it although it is now in the record of
the JS after the BAL MPs "prayed" for a Nobel for Hasina!!
>
> Its laughable.
>
> So the real question for the charlatans is - should we now close
Grameen Bank as it is a bad idea? What about BRAC? What is different?
>
> That's the thing with BAL and their supporters - I expect them to
ALWAYS work against the national interest as they are one to all,
TRAITORS.
>
>
> Emanur Rahman | m. +447734567561 | e. emanur@...
>
> -----Original Message-----
> From: Shamim Chowdhury veirsmill@...
> Sender: alochona@yahoogroups.com
> Date: Mon, 7 Mar 2011 21:58:56
> To: Shamim Chowdhuryveirsmill@...
> Reply-To: alochona@yahoogroups.com
> Subject: [ALOCHONA] Banker Yunus banking on emotion defying law
>
> We must give credit to Dr. Yunus for taking micro financing to world
stage and branding Bangladesh as the brand owner and finally wining a
Nobel Prize. He may have not invented the idea but certainly he was able
to give it a height which no one was able to do before. Because of his
personal connection with Hillary Clinton the then first lady current
Secretary of State of the most powerful country of the world Dr. Yunus
was able to get the world attention.
> Â
> Dr. Yunus got his first world wide media attention during the first
micro summit which took place in Washington where our present PM Sheik
Hasina co-chaired the summit along with Queen Sofia of Spain . In the
home turf Dr. Yunus got support of the then Prime Minister Sheikh Hasina
who went all the way to Washington to unveil Bangladesh brand financial
system in first ever world summit on microfinance.
> Â Â
> In the early days of microfinance, Dr. Yunus has a success story to
tell but not much audience other then few media outlet. The country was
going through high trouble. It was couple years after the death of Gen.
Zia when Gen Ershad claimed the power overthrowing corrupt BNP
government of Justice Sattar. In a state wide televised speech, Justice
Sattar claims wide spread corruption in his government and asked
military to take over, so did Gen Ershad. Suddenly Dr. Yunus saw some
light at the end of the tunnel, military marshal law governments civil
Finance Minister Abul Mal Muhit, yes readers, ironically it’s the
same person who is our current Finance Minister.
> Â
> Finance Minister Muhit gave an audience to Dr. Yunus and Dr. Yunus was
the speaker, as good orator he was and is Yunus was able to make Muhit
understand the value of starting a new bank solely for the poor. Muhit
as the Finance Minister was able to get permission of Gen. Ershad to
form the Bank name Grameen Bank, a bank for the poor. Ershad’s
military regime issued a proclamation establishing the bank and
appointed Dr. Mohammad Yunus as its Managing Director, it was 1983 and
since then he is the head of this government institution.
> Â
> It need to be clear that Grameen Bank unlike many other privately
owned NGO is not a private entity at all but a government entity with
autonomy and Dr. Yunus is nothing but government approved Managing
Director of the Bank. Success of Grameen Bank is not just the success of
its Managing Director Dr. Yunus’s but the government of
Bangladesh and its shareholders as well.
> Â
> Mohammad Yunus played a wonderful role of mentoring the organization
setting its goal. The negative story picks up there where Grameen Bank a
bank for the poor changed its role of providing free of collateral cheap
loan to the poor especially women to high interest loan sharking
business.
> Â
> A noble cause and idea which started its journey from village Jobra
under the stewardship of a young professor Dr. Yunus caught into
so-called social business gimmick. Loan to the poor started with no
interest climbed to as high as THIRTY percent though in Grameen
transaction shows it as twenty percent not showing the actual cost that
the borrowers has to bear.
> Â
> Day by day Grameen involved it self into all sorts of profit making
business, telecommunication to making so called energy curd and what
not. A brand name Grameen paid a hefty price for that as well not just
financially but receiving endless criticism. While the poor people
Caught into microfinance debt Grameen caught into illegal VOIP business
and slapped with hefty punitive fines of hundreds of millions of BDT
during last caretaker government and loosing its clean image.
> Â
> Some people may say Dr. Yunus has no relation to those illegal
wrongdoings of Grameen Telecommunication. How ever that notion will not
be justified and he had to bear the responsibility. Grameen mobile is a
part of Grameen family and Grameen receives a huge stash of profit out
of it. So if you accept the profit you have to bear the responsibility
as well.
> Â
> A Nobel laureate like Dr. Yunus never came up with one word to condemn
his organizations wrongdoing but keep tight-lipped. His muted un
acknowledging attitude of this grave matter did hurt lot of his
supporters as well as rest of the nation. Though this is nothing new
from him, he kept mum or talked in favor of military and undemocratic
rulers as near as past Gen. Moeenuddin-Fakhruddin  or Iajuddin
government.
> Â
> Dr. Yunus who started (not really) claiming as the
originator/author/owner of this microfinance idea thought about Grameen
Bank with same obsession. Like many others who rose to power and fame
Dr. Yunus started thinking about him as indispensable and his role as
Managing Director as prerequisite for banks survival.
> Â
> Probably Dr. Yunus himself and many others thought him and Grameen
Bank as one and one entity, that thinking process was based on a
complete flawed understanding. Â It is very unfortunate Dr. Yunus did
not play an affirmative role on bringing that wrong notion down rather
fueled the idea.
> Â
> A noble idea strangulates to death slowly but surely. A bank that was
created to ensure loan to the poor ravenous people of Bangladesh is now
hungry it self for fame and ready to play any game. Getting the Nobel
Prize whisked away Dr. Yunus into a fairy land of foolishly considering
him as indispensable and a savior of the world poor. High ambition and
hunger for fame and name ruined his stature and brought him down to
earth facing criticism home and abroad.
> Â
> Grameen Bank was and is an autonomous government entity though it is
not just like much other autonomous body but a special one. If the
banking law of the country as well as Grameen Bank’s own employee
service manual clearly states that all Grameen employees will retire at
age 60 then how in the world it is OK for Managing Director Dr. Yunus to
violate that law and say I am indispensible therefore I must stay for
life and defy any law.
> Â
> Some Yunus supporter might say there are others too who has crossed
that age such as PM her self or others in the cabinet. Yes that is true
but that is a whole new subject/concept to deal with. Present law of the
land dose allow those position holder to continue their official duty at
or above sixty, if you do not like it then go ahead and make effort to
change it. But as long the law allows or disallows, you just have to
abide by the rule, period.
> Â
> Dr. Yunus in many of his speech talked about lawlessness in our
society and politics but when the time came for him to set the standard
he downplayed the law and played his sentiment card and vowed to stay in
power as long someone is not able to pull him down.
> Â
> During caretaker military rule, Dr. Yunus talked harshly about
politicians and labeled them as corrupt and promoter of family dynasty.
He did talk about fresh leadership to make the difference and now when
the question comes about new leadership of Grameen, Dr. Yunus back out
and his laughable reply that Grameen will not be able survive
without him or there is no one who can assume that responsibility. If
so, then it is shame for him that he stayed in that position for couple
of decade but miserably or the more correct choice of word would be
mystically failed to create a chain of leadership who can and will take
new challenges.
> Â
> Critics say, to keep his tight grip on all matter Dr. Yunus never
allowed any new leadership capable of running the organization
independently around for too long. Any one who happened to be capable
will be removed and a person will be replacing the position with his
approval only.
> Â
> The nine members of the board out of twelve are selected by Dr. Yunus
himself and rest three appointed by the government of Bangladesh . Nine
members of the board who has been handpicked by Dr. Yunus have
absolutely no idea whets so ever of how a billion dollar bank like
Grameen runs. They are there no more then to act as rubber stamp to go
along with Dr. Yunus whim.
> Â
> Dr. Yunus has taken full advantage of the disadvantage of his
executive board members neophyte of the banking business and ruled the
business as he wishes rather then following the business rule prescribed
in Grameen’s business policy.
> Â
> The bank which strictly supposes to land only to the poor’s
started funding family owned business defying all rules. Grameen is tax
exempted business institution. They do not pay to the government in
return they do public service, is this what public service, service to
the poor means to Dr. Yunus.
> Â
> When Grameen Bank’s poor member has to return every singe penny
they borrow whether loose or gain otherwise face penalty, intimidation
and legal or social boycotts by the group but strangely his family gets
a very sweet deal of sharing profit and loss which even commercial banks
do not offer other then some Islamic banks. Is this kind justice and
honesty Dr. Yunus is talking about while in the international stage.
> Â
> It is unfortunate that a man of his stature will set such a bad
precedence and take ill advantage of his position and international
connection to pressure law of the land takes a different course to keep
him in his position. It is more unfortunate that now he wants keeps the
nations image hostage and play his emotions card once again to keep his
position.
> Â
> It is so childish for him and his lawyer Dr. Kamal Hossain to say that
if he was allowed to violate the bank law for ten years then he should
not be blamed about it at any letter stage? Does Dr. Yunus mean
violation get justified if it was not challenged or corrected in time?
> Â
> Are we going to say that recent epoch making judgment of high court on
nullifying all military rule of seventies and eighties in Bangladesh and
declaring it as illegal occupation of power was wrong judgment as it
happened thirty years ago and no one challenged it earlier therefore
illegal unconstitutional occupation of power by military rulers was
justified!
> Â
> High interest Grameen’s micro credit is nothing but unambiguous
rape of frail but lucrative financial body of poor of the poorest
especially women. Most vulnerable segment of the society is trapped into
Grameen’s loan shark landing microfinance policy, calamitous
attempt of the poor to escape from local loan shark known as Mohajon to
get caught by institutionalized shark loan lender named Grameen is
unfortunate and unwanted.
> Â
> It’s a farce that the poor of the poorest who need the most low
interest finance to change their ill fate are locked into maximum high
interest loan up to 30 percent from Grameen while the affluent society
gets loan at very low interest some where 10 to 12 percent from
commercial banks. Now Grameen might say we are giving loan to someone
with no collateral therefore we have to cover our risk. No comments on
that as that is a fact, however then question comes, do not call this
sort of loan sharking a social enterprise call it what it is.
> Â
> In U.S. to often you will get advertisement about car loan or housing
loan with bad credit or no credit everyone applies everyone gets credit.
Those lenders are known in the U.S. as loan sharking institution and
they do not challenge it. If Dr. Yunus also agrees that Grameen does the
same then their will be no question but question comes when he claims to
be doing business of social just. Grameen’s over exorbitant
interest rates and alleged coercive debt collection policy has no
difference then shark lender of the west.
>
> What is Loan Shark: A loan shark is a person or body that offers
unsecured loans at high interest rates to individuals, often enforcing
repayment by blackmail or threats of violence. Dose that sounds Dr.
Yunus and Grameen Bank, Yes it dose. Wikipedia Link explains the
characteristics of Loan Shark: http://en.wikipedia.org/wiki/Loan_shark
> Â
> If wants know more about the result of Grameen Loan Sharking business
and hide and seek game then go to this link and play the video:
http://www.france24.com/en/20080404-bangladesh-burden-microcredit-caring\
-grameen-bank-mohammed-yunnus
> Â
> Watching this video will raise very suspicious question what Grameen
and Dr. Yunus wants to hide from getting out? Its no wonder anymore why
Dr. Yunus wrote a personal memo to NORAD asking help to keep donors fund
misappropriation secret, WHY? What he is scared off! Why Dr, Yunus
appointed director Noorjahan Bagom ask her security to tie the
journalist who simply says that he wants to ask some question! Hope one
day the poor of the poorest will know about the name of the game.
> Â
> I just read his public statement (March 7th 2011) where he makes calls
to the nation. That is just tricky rubbish. When a case is waiting for
ruling, his public statement is a mere attempt to fuel confusion among
mass people and pressure on the court to take the verdict in his favor.
> Â
> He and his lawyears are making evry effort to make our justice system
look bad, that is not right thing to do for a Nobel lauriate! He himself
went to the court challenging Bangladesh Bank notice of his removal now
after three days of deliveration his lawyears are talking saying they
might not get justice. Dr. Yunus is following a carbon copy plan of
Khaleda Zia after she lost her house and court fiasco played by her
lawyear.
> Â
> Within months of getting the Nobel Prize he applied this same sort
of public call/statement technique during last military CTG attempting
to grab political power in the vacuum using help from military
intelligence unit. I surely hope dr. Yunus stop this uncalled technique
and keep faith on system.
> Â
> IÂ certainly hope Nobel laureate Dr. Yunus will come intto his
sense and do what is good for the Bank and its poor borrowers not
just looking at self interest. Reduce the interest burden from the poor
and be a real benevolent banker of the poor. Above all, he will abide by
the law of the land as any other ordinary citizen and not claim aspecial
stature just becouse of he is a Nobel laureate.
> Â
> Â
> Shamim Chowdhury
> Maryland, U.S.A.
> Email: veirsmill@ yahoo.com
>
------------------------------------
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