Hundreds of crores of taka siphoned off from Grameen Bank: Chairman
These charitable organisations have been established using funds from Grameen Bank, he said
Grameen Bank Chairman AKM Saiful Majid has said that following a comprehensive audit, they have uncovered evidence suggesting that hundreds of crores of taka have been siphoned out of the Grameen Bank.
In a press conference held at Grameen Bank headquarters in the capital's Mirpur yesterday, he said, "Grameen Bank was founded in 1983. Last year, we conducted a 7-month-long audit for a period spanning from 1983 to 2023 and uncovered evidence indicating that hundreds of crores of taka have been redirected from the bank. We have filed a general diary (GD) regarding this matter. At this point, I am refraining from naming individuals until we gather all the necessary information."
Grameen Bank organised the press conference to clarify the bank's stance in response to recent accusations made by Dr Yunus.
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Earlier on 15 February, Nobel laureate Dr Yunus accused Grameen Bank of taking control of eight other Grameen institutions and operating them according to its own methods. He said despite seeking assistance from the police, they have not received any help.
The institutions are Grameen Telecom, Grameen Kalyan, Grameen Fisheries and Livestock Foundation, Grameen Agriculture Foundation, Grameen Shamogree, Grameen Fund, Grameen Shakti, and Grameen Communication.
Also Read: Grameen Bank clarifies Dr Yunus was not 'illegally' replaced as Grameen Telecom chairman
Chairman AKM Saiful Majid responded to Yunus's accusation by stating that deliberate attempts are being made to smear Grameen Bank's reputation through unfounded claims of seizing eight other institutions funded by the bank.
"They are trying to undermine the image of this Nobel Prize-winning institution by using words like 'forced occupation' instead of honestly acknowledging that these actions and processes are entirely lawful and necessary," he said.
"Dr Yunus has no ownership in the seven institutions, including Grameen Telecom and Grameen Kalyan, for which the board of directors of Grameen Bank nominated new directors and a chairman on 12 February. Dr Yunus will be stepping down from the position of chairman in these companies following the new nominations," Saiful Majid said.
Mentioning that these charitable organisations have been established using funds from Grameen Bank, the bank's chairman said Dr Yunus does not hold any shares in them.
He said, "Dr Yunus mentioned eight institutions, which is also not correct. Grameen Bank has sent letters to seven institutions for taking over. These institutions have been established with funding from Grameen Bank."
Following Yunus's allegation, Grameen Bank issued a statement on Friday saying it has the authority to appoint the chairman and directors to organisations formed under its financing.
Grameen Bank has recently named new directors for Grameen Telecom and Grameen Kalyan, with Prof Dr AKM Saiful Majid taking over as chairman, replacing Yunus.
The Grameen Bank chairman said, "While establishing Grameen Kalyan, Dr Yunus took Tk447 crore from Grameen Bank and Tk24 crore to establish Grameen Telecom. But Grameen Telecom has so far not repaid any amount [interest and dividend] to Grameen Bank."
"Grameen Kalyan and Grameen Telecom were founded in the 90s. However, much of the financial data pertaining to these institutions is missing. A significant amount of information has been omitted, and data has been erased," Saiful Majid said.
