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David Roodman's Microfinance Open Book Blog


The first public news has spread about the conclusions of the panel appointed three months ago to investigate Muhammad Yunus and the Grameen Bank. Looks like it was right to view the spat with the Norwegians in the mid-90s as historically interesting but secondary. And 20%/year is a low rate to charge the poor.

"The probe has accepted that (the Norwegian government's decision) was final. There is nothing to do about it," Bangladesh finance minister AMA Muhith said, referring to the fact no evidence of wrongdoing was found.

The government-appointed investigation committee also found no truth to allegations Grameen Bank charged excessive interest rates on loans to the poor, Muhith said.

But these findings will apparently not affect the legal battle over Yunus's removal.

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