Government, Prof. Yunus and microcredit

9 August 2012, 18:00 PM

Jabun Naher, Dhaka

Photo: Wikipedia

The recent change in Grameen Bank Ordinance has raised many questions in the mind of conscious citizens. Does the government really want to establish its control over Grameen Bank? We need to wait for some time to get the answer. The motive of the government would be clear in its next move. Everyone will admit that GB is the creation of Prof. Yunus. He struggled a lot for the establishment of GB. The success that Grameen has seen is only because of the charismatic leadership of Prof. Yunus. No one can think better about Grameen Bank than Prof. Yunus. So the government should value the opinion of Prof. Yunus in selecting the next leader for this Nobel winning organisation. Prof. Yunus has become an international icon. Many famous people and organisations are coming forward to materialise his concept of microcredit. Is it not a matter of pride for us? Bangladesh is the homeland of microcredit. Almost one third of the population is involved in microcredit and it would not have been possible without the passive support of Bangladesh government. It would be unfair to deny the contribution of world famous MFI organisations like Grameen Bank, ASHA and BRAC to our rural economic development. These organisations are working in many countries of the world. We often see some economists criticise microcredit without having any practical experience on rural economy. Did they spend any moment of their life with poor people? They explain everything from their bookish knowledge. There may be some negative sides of microcredit like multiple lending and high interest rates. But we should think positively how to remove the negative impacts of microcredit by keeping these organisations alive, not by destroying them. We hope the government will not destroy our country's image before the world community which we have achieved through microcredit.