A powerful woman is threatening the future of millions of others. But if we all weigh in right now we can rescue the people-powered bank that’s an inspiration to the world. The Grameen Bank has enabled millions of women to lift themselves out of poverty by giving them tiny loans to buy animals or equipment to start earning money. But Bangladesh’s jealous Prime Minister, Sheikh Hasina, has fired its Nobel Prize winning founder Muhammad Yunus and now wants to seize control of the bank, all to silence a political rival.
This takeover could break the bank and destroy millions of people’s hope. Hasina has been mired in a series of scandals at home – if we can add a giant global backlash to her list of worries, we can force her to back down. The Grameen Bank is very different from the big giants of Wall Street. They loan money to 8.4 million people, mostly women from the poorest villages in Bangladesh, so they can buy assets like cows or sewing machines and start earning money.
These women borrowers also run the bank – they are not only the majority shareholders, 9 out of 12 seats on the board are held by village women in saris. But PM Hasina wants to end Grameen Bank as we know it. She first stripped Dr. Yunus position as the bank’s managing director, and now just passed a law that would allow the government to bypass the people-elected board and handpick his successor. And they fear that the government may use its newfound power to manipulate millions of members for votes in next year’s election.
Grameen’s downfall would be a disaster for Bangladesh and the larger microcredit movement that is working to improve lives across the globe. Sign the urgent petition to PM Hasina, and together, let’s save the bank that’s revolutionizing the war on poverty. Sign the urgent petition now at the link bellow.