Professor Muhammad Yunus’ Opening Remarks at the Press Conference on December 12, 2010
Welcome everyone- Please accept my good wishes.
In the past few days, the reports which has been published in significant parts of the Bangladeshi media has been the cause of deep sadness for me. I have come here to express that sadness to you. I feel that like me, many of my fellow citizens have been similarly hurt.
The charge leveled in the Microfinance related documentary shown on Norwegian television channel NRK has been completely misconstrued to show misappropriation of wealth and corruption on my part by this part of the media. In the documentary shown on NRK, it was shown that by transferring funds from one organization to another, Grameen Bank broke the agreement under which such grants were provided. There was never any mention of misappropriation or corruption.
In the Bangladeshi media, this has been misinterpreted and transformed with the result of numerous false charges of ‘misappropriation,' ‘fund seizure,' ‘make him take the stand,' etc against me. Grameen Banks' explanation into the matter was provided in the documentary, as was the letter provided by the Norwegian authorities stating their satisfaction over the steps taken by Grameen Bank to bring a resolution to the matter. But those who have distorted this news have not mentioned these documents anywhere in their published articles. After this inaccurate news broke out across the country, we again provided an explanation highlighting the truth of the matter.
The disagreement between NORAD and us was an honest disagreement. There was a discord between the two of us regarding modality. Other donors did not raise any objections with us about our modality. However, Norad did. We decided to reach a settlement over these objections so that our good relations with Norad would not be broken. Bangladesh Bank later gave their opinion that since Norad's fund was returned to Grameen Bank, the fund provided by SIDA should also be returned to Grameen Bank. We decided that not only SIDA funds, but also all other donor funds should be returned to Grameen Bank. By doing so, there shouldn't be any grounds for further dispute about this transfer of funds.
The Norwegian Government conducted a new investigation into this matter and in its report, along with the statement from the Honorable Minister for International Development, again stated that 12 years ago this matter was settled with Grameen Bank to their satisfaction. Their report stated that there was no issue of misappropriation or corruption in this dispute. They, in the attachments to their report, stated that: Grameen Bank "... is perhaps the single most successful development project in the world." That section of our media, which brought forth such false and misleading charges to their readers and viewers, once the charges had been proven false, did not feel the need to publish the truth. Indeed, many did not even feel the need to publish the rejoinder issued by the Indian High Commission to the statements falsely attributed to the Indian Prime Minister.
I have been extremely hurt by how the media has handled this issue. I have come here before you because I feel the need to express my sadness over this entire episode.Grameen Banks' explanation and the Norwegian Government's statement has been provided to the media; today we are again distributing these documents to you.
I want to, through you, reassure all my fellow citizens that Grameen Bank is an honest organization. We are always vigilant against corruption spreading into Grameen Bank. Grameen Bank has established itself as an organization of which the whole nation can be proud; to remain in that exalted position is the solemn duty of all employees of Grameen Bank.
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In the past 34 years, I have set up numerous organizations. There is a lot of misunderstanding about my financial relationship with all of these organizations. Indeed, even yesterday a TV channel said that Norad's fund was transferred to "Grameen Kalyan, an organization owned by Dr. Muhammad Yunus." That "Grameen Kalyan" is a not-for-profit organization which was set up at the behest of the Board of Directors of Grameen Bank, and it has no owners; all of these facts are clearly expressed in our report. The Danish journalist, in his documentary, did not claim that "Grameen Kalyan" was an organization owned by me. After all this, how was it possible that the TV channel reported that I own "Grameen Kalyan"? The reasons for feeling hurt are created in this way.
I would like to make it absolutely clear in front of all that, other than from Grameen Bank, I do not receive any financial benefits, housing, transportation or subsidy from any of the organizations that I have created. As an employee of Grameen Bank, I receive a salary and other benefits from the Bank. I do not own any organization in the Grameen family. I do not own a single share in Grameen Bank or in any of the organizations in the Grameen family. Because I do not own shares in Grameen Bank, even though I am a board member as I am the Managing Rirector, I do not have voting rights. I am a non-voting member.
The inspiration behind every organization set up was to solve a social or economic problem of the country. At no point did it ever enter my mind to reap financial benefits from these organizations, and I have never received financial benefits from any of these organizations. EvenI have always refused the honorarium offered to board members for attending board meetings.
Poverty is our number one national problem. To solve this problem, all sections of the nation are working in their different ways. We have pledged ourselves to achieving the Millennium Development Goals. By successfully achieving the Goals, Bangladesh has attracted the attention of the entire world.
Grameen Bank is an organization which is dedicated to removing poverty. So that Grameen Bank is successful in this goal, we are requesting the cooperation of the media. All of us have to work together. The media can point out our failings and shortcomings - not with a negative attitude but in a positive way. This cooperation will increase our enthusiasm and effectiveness many times over. It will lead us to achieving our goals much faster.
We hope that we will get this cooperation from you. With this hope, we are starting today's press conference.
