A committee appointed by the Bangladeshi government found no evidence of financial irregularities in the operations of the Grameen Bank, Bangladeshi Finance Minister Abul Maal Abdul Muhith said on Monday (April 25).
The decision, however, is expected to have no impact in the decision to remove Muhammad Yunus as managing director of the microlending institution he founded some 30 years ago.
>> Bangladeshi Court Rejects Muhammad Yunus’ Appeal Over Removal From Grameen Bank
Yunus was dismissed on grounds of violating the country’s rule on mandatory retirement at the age of 60.
In December, allegations of fraud against Grameen emerged following the airing of a documentary indicating that millions of dollars in aid money to Grameen Bank was diverted to another entity under the Grameen group of companies. Norway, one of the donors to the bank, ordered an investigation, which later cleared the bank of corruption though it confirmed the fund transfer.
>> Norway Confirms Grameen Aid Diversion But Finds No Fraud
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