dismalmacro

[chris macrae]

A new law is to be formulated for the regulation of all associate companies of Grameen Bank as per reported in a Bengali newspaper today with reference to officials. As a preparatory work, the govt is officially collecting data of 48 associate companies of Grameen bank from three sources – Grameen bank itself, Board of Investment and office of the Registrar of companies. The newspaper mentioned the names of the 48 associate companies.

23 September 2011

Govt to seek registration, foreign investment info from 48 Grameen ...The government is going to formulate a social business law to regulate non-government organisations, especially entities like Grameen Bank, aiming at preventing people from being cheated.

The Banking Division has already prepared a draft of the law and sent letters to 48 organisations, asking them to provide the division with relevant documents.

 

Banking Secretary Shafiqur Rahman Patwary told daily sun last week that the government is formulating a social business law to control NGOs in social business.

 

The Banking Division has already asked 48 subsidiary companies of Grameen Bank, including Grameenphone, Grameen Udyog, Grameen Dannon Food Limited, Grameen Kalyan, Grameen Telecom Trust and Grameen Shakti, to provide information about registration and amount of foreign investment since inception.

Information on these aspects may help prepare the law on operation of these social businesses, said a senior official of the Banking Division.