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I didn't find the reference to unrelated spending by Grameen in the linked article.
by capex 13y ago
I didn't find the reference to unrelated spending by Grameen in the linked article.
- rayiner 13y agoThe article in the submission mentions the bank's involvement in unrelated areas: "The dispute is driven in part by the rapid growth of Grameen Bank, which is at the center of a sprawling empire that includes 48 companies including the nation's biggest mobile-phone operator and a yogurt maker." I removed the comment about the use of capital, because it's an allegation not a confirmed fact.
- hga 13y agoGood to see that correction. Under what legal theory is the government taking over the bank?
- rayiner 13y agoThe bank was authorized by a 1983 ordinance of the government of Bangladesh. It appears they are going to modify the ordinance to change how the board members of the bank are appointed, and from there issue shares to the government diluting the existing shareholders and giving 51% control to the government: https://www.devex.com/en/news/in-an-about-face-bangladesh-prepares-takeover-of-grameen-bank/78842; https://www.devex.com/en/news/in-an-about-face-bangladesh-pr... http://www.dhakatribune.com/bangladesh/2013/jun/18/government-eyeing-grameen-bank-takeover http://www.dhakatribune.com/bangladesh/2013/jun/18/governmen.... There is nothing not sketchy about it.