FROM PARLIAMENT: The parliament on Tuesday passed the much-talked-about Grameen Bank Bill-2013 bringing the micro-credit institution under the strong watch of Bangladesh Bank.

On October 27, Finance Minster AMA Muhith placed the Grameen Bank Bill-2013 before the parliament.

The draft of the bill was approved in the 220th meeting of the Cabinet held at the Secretariat with Prime Minister Sheikh Hasina in the chair.

The Grameen Bank was established as per the Grameen Bank Ordinance of 1983.

The authorized capital of the bank was Tk 350 crore earlier and now it will be increased to Tk 1000 crore while the bank’s paid-up capital to be increased to Tk 300 crore from Tk 50 crore.

Like other banks, Grameen Bank has to submit its annual report to the Bangladesh Bank.

BDST: 2053 HRS, NOV 05, 2013
AKA/MMA/RK [email protected]