The Advisory Council has granted policy-level approval to the draft of the Grameen Bank (Amendment) Ordinance, aiming to reduce the government's sole authority over Grameen Bank.

Under this ordinance, the government's ownership share has been reduced from 25% to 10%, while 90% ownership has been allocated to the bank’s beneficiaries.

This information was shared by Syeda Rizwana Hasan, Advisor to the Ministry of Environment, Forest, and Climate Change and the Ministry of Water Resources, during a briefing at the Foreign Service Academy in the capital on Thursday, April 17.

Earlier that morning, a meeting of the Advisory Council was held at the office of the Chief Advisor, Dr. Muhammad Yunus, who presided over the session.

During the briefing, the Environment Advisor stated: “Previously, Grameen Bank operated with a set of values that emphasized the participation of its beneficiaries in the management of the bank. However, our Chief Advisor, a Nobel laureate economist, was politically targeted, and the ownership philosophy he championed — that those who borrow should have control — was undermined, leading to increased government control. Today's amendment reinstates the bank’s original focus on serving the landless, while also introducing a definition of the ‘impoverished.’ Moreover, the jurisdiction has been expanded beyond Union Councils to include City Corporations and Municipalities.”

She further explained, “Regarding the Board structure, the ordinance stipulates that nine members will be elected from among the bank's beneficiaries. Of these nine, three will be nominated, and one among them will be appointed as the Chairman. Another key change is in the shareholding structure: previously, the government held 25% and the beneficiaries 75%. It is now revised to 10% and 90%, respectively.”

Additionally, it was announced that under the Financial Reporting Act 2015, a provision has been included to classify Grameen Bank as a Public Interest Entity.