Bangladesh is placing Grameen Bank, which pioneered small loans for the
poor, under closer scrutiny by the country's central bank.
The Cabinet of Prime Minister Sheikh Hasina on Thursday approved the
draft of a law to regulate the bank and bring it under closer monitoring
by Bangladesh Bank.
The law must also be approved by parliament.
Grameen Bank has been a focus of contention in recent years after the
government removed its founder Nobel laureate Muhammad Yunus as managing
director, saying he had breached retirement age rules.
Yunus has repeatedly accused the government of trying to destroy the bank, but authorities deny the allegations.
Cabinet Secretary Musharraf Hossain Bhuiyan says the changes would replace a 1983 ordinance under which the bank was founded.
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