I had written quite critically on the charges that Grameen Bank founder Dr. Md. Yunus had engaged in accounting impropriety with development aid funds. Grameen Bank recently faced down allegations and was cleared of any wrong-doing. At the time I had written that this mishap provided an opportunity for stakeholders in the micro-finance industry to […]
Earlier today the Norwegian Agency for Development Cooperation (Norad) cleared Grameen Bank’s moves to supply its private arm with development funds targeted for its non-profit works. The Minister of the Environment and International Development, Erik Solheim, the official who commisioned a Norad report on this affair offered this assessment: “There is no indication that Norwegian funds […]
If it weren’t already enough that the Norwegian government is trying to investigate Grameen Bank’s books from some fifteen years ago, now the local government, just down the street, sitting in Parliament is out for some explanations from Grameen Bank’s founder Dr. Mohammad Yunus. Sheikh Hasina has chastised Dr. Yunus for the micro-credit business model […]
There’s a new brew simmering in Bangladesh. It’s made of allegations, recriminations and excuses. This brew has to do with acts committed by the venerable founder Dr. Mohammad Yunus some fifteen years ago. This brew threatens to irreparably mar microcredit institutions, the poverty alleviation regime that over the last several years has gone private, virally, […]