Search panel formed for Grameen Bank MD

The board of directors of Grameen Bank has formed a five-member selection committee, headed by Shamsul Bari, an expert on human rights of the United Nations, to pick up the successor of former managing director Muhammad Yunus.

The committee was formed at a meeting of the board at its headquarters, Grameen Bank Bhaban, in the city’s Mirpur with board chairman Mozammel Haque in the chair, Haque himself told the news agency.

‘The work plan of the selection committee will be finalised after a meeting with the committee in the next week,’ he said.

Bari is the UN Independent Expert on the situation of human rights in Somalia.

The other members of the committee are Professor Baki Khalili of the finance department at Dhaka University, former vice-president of American Express Bank Shirin Akther Mainuddin, managing director of Trust Bank M Shah Alam and Tahsina Khatun, member of Grameen Bank board of directors.

Parliament on Tuesday passed the amended Grameen Bank Ordinance that changes the provision for picking the bank’s managing director.

Consent to the amendment by president M Zillur Rahman is the last major step remaining to enable the government to appoint the MD after the forced exit of founding managing director Yunus by a directive of the Bangladesh Bank.
Yunus challenged the central bank’s order in the Supreme Court, but lost the legal battle.

The government says the amendment aims to make the process of appointing managing director more transparent and remove complexities in the recruitment. But Yunus alleges that the government was eyeing a full takeover.

The amendment proposes that the chairman, in consultation with the board, will constitute a selection committee of not less than three and not more than five members to select a candidate for appointment of managing director.
The government promulgated the ordinance on Aug 23.

The Nobel-winning organisation has been running without a managing director for over one and a half years since Yunus resigned in May last year.

The cabinet on August 2 decided to alter the way the bank appoints the chief executive and asked the revenue board for a report on whether he brought in any money from abroad as a wage earner and if so, if he was allowed to do so and whether he got any tax waiver on the amount.

News Source: 
The New Age