The Grameen Bank has taken the control of seven institutions in Grameen Telecom Bhaban following the relevant laws as Nobel laureate Muhammad Yunus had no ownership or share in those organisations, bank’s Chairman AKM Saiful Majid said on Saturday.

While addressing a press conference at the Grameen Bank office in Mirpur, he also said the allegation made by Yunus that the institutions were grabbed was not true.
On 15 February, Yunus alleged in a press conference that Grameen Bank took over a number of offices in Grameen Telecom Bhaban by force. He sought help from the police, but “did not get support”.

In response to Yunus’ allegation, Saiful Majid said they have not grabbed any of Yunus’s institutions. Everything was done according to law. Those institutions belong not to Yunus, but to the Grameen Bank.
He said letters have been given to take control of seven institutions, which were – Grameen Kalyan, Grameen Telecom, Grameen Fund, Grameen Matsya Foundation, Grameen Udyog, Grameen Samogree and Grameen Shakti.

Chairmen and directors were nominated in three of these institutions. However, Yunus talked about eight organisations, which was not correct. Yunus has no ownership or share in these companies. These institutions have been established with the Grameen Bank’s money, Majid continued.
The Grameen Bank chairman also said in the 155th board meeting of the bank on Monday (12 February), the chairmen of the board of directors and a certain number of directors were nominated for the seven institutions, which was done in complete accordance with the law of the institutions created by Grameen Bank. No illegal or irregular action was taken in this regard.

He further said that Grameen Kalyan was formed in 1996 in accordance with the Companies Act in the 42nd meeting of the board of directors of the Grameen Bank. Article-48 of the Articles of Association states that the Grameen Bank can nominate the chairman of Grameen Kalyan.

Yunus took Tk447 crore from the Grameen Bank to establish Grameen Kalyan. He also took a grant of Tk24 crore from the Grameen Bank to establish Grameen Telecom. But Grameen Telecom has so far not paid any money to Grameen Bank as interest and dividend, said the Grameen Bank chairman.

Stating that they have evidence of money laundering done by Yunus, Saiful Majid said Yunus embezzled hundreds of crores of taka from Grameen Bank when he was setting up Grameen Telecom, Grameen Kalyan, and Grameen Fund. They found this information after conducting an audit for the last seven months.

Yunus did not make Grameen Telecom, Grameen Kalyan and other subsidiary companies with business profits. He built these institutions with money from Grameen Bank, said Majid.
The Grameen Bank chairman also said that Grameen Kalyan, and Grameen Telecom was established in the 1990s, but many financial information of these institutions could be found. A lot of information has been removed and data has been destroyed.