Yunus fears Grameen Bank's takeover by government



Dhaka: Nobel laureate Muhammad Yunus Thursday expressed utter shock at the Bangladesh government's attempt to cut the powers of the Grameen Bank's board and giving more authority to its chairman to choose the managing director of the microcredit organisation.

In a statement, the Grameen Bank founder said he always expressed his apprehension about the possibility of the government taking over the bank, reported The Daily Star.

"Now my apprehension has started to become a reality. I am so disheartened that I am unable to express my feeling," the statement quoted Yunus as saying.

IANS