Nor­way clean chit to Grameen Bank on funds trans­fer

The Pak Banker - - Front Page -

DHAKA: Nor­way has given a clean chit to No­bel lau­re­ate Muham­mad Yunus' Grameen Bank that was charged with em­bez­zle­ment and unau­tho­rised trans­fer of funds of a Nor­we­gian aid agency, an of­fi­cial state­ment said. Ac­cord­ing to the state­ment posted on the Nor­we­gian for­eign min­istry web­site, Min­is­ter for En­vi­ron­ment and In­ter­na­tional Devel­op­ment Erik Sol­heim said that the Grameen Bank had nei­ther em­bez­zled the funds of the Nor­we­gian Agency for Devel­op­ment Co­op­er­a­tion (Norad) nor used the money for un­in­tended pur­poses.

The min­is­ter also said that the mi­cro­fi­nance in­sti­tu­tion was not in­volved in cor­rupt prac­tices. The re­marks came af­ter Norad sub­mit­ted a re­port on the charges against Grameen Bank's al­leged un­due trans­fer of funds to sis­ter con­cern Grameen Kalyan. Last week, Sol­heim had re­quested Norad to pre­pare a re­port af­ter a Nor­we­gian TV chan­nel broad­cast a se­ries of doc­u­men­taries on al­leged fund anom­alies in­volv­ing the bank. -PB News

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