Grameen Bank requests ACC inquiry against Dr Yunus
The Grameen Bank authorities applied to the Anti-Corruption Commission to inquire into Dr Muhammad Yunus, accusing him of illegally giving a loan of Tk9.5 crore to the family-owned company Packages Corporation.
Grameen Bank Deputy Managing Director Pradeep Kumar Saha submitted the application on behalf of the bank's board of directors.
Barrister Masuda Akhter, legal advisor of the bank, was with him at the time.
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Briefing reporters, Pradeep said in the 1990s, when Dr Yunus was the chairman of Grameen Bank, Packages Corporation Limited was given a loan of Tk9.5 crore without adhering to the rules and regulations.
In addition, Yunus also gave printing-related work worth crores of taka to the family-owned business without a tender, he said.
Claiming the findings came from an audit report, Pradeep stated that Dr Yunus improved his own fortune instead of helping the landless people.
He demanded that the ACC investigate the irregularities and corruption and take action against him.
Meanwhile, a press release signed by the managing director of the bank Noor Mohammad said Dr Yunus as the then managing director of Grameen Bank had been giving illegal benefits to his family printing firm Packages Corporation since 1990 by abusing his power.
The information emerged in the comprehensive audit report of an audit firm listed by the Bangladesh Bank.
By violating Grameen Bank's procurement policy, he and his family took huge financial benefits by giving work orders to the family company to print printing materials of the bank worth billions of taka at high prices.
According to the Grameen Bank Ordinance 1983, loan facilities are limited to landless poor borrowers, but Yunus broke the law and provided loans to his family firm Packages Corporation.
Later, when the company failed to repay the loan, he misused the power and got a significant amount of unpaid money waived by the bank, read the press release.
Without informing the board of directors, Yunus entered a managing agent agreement with Packages Corporation for the benefit of the bank.
He also appointed the officers and employees of the bank on his behalf and used the Grameen Bank office free of charge for the purpose of conducting the activities of his organisation, according to the press release.
