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Hillary's remarks on Grameen Bank undue: Muhith

Finance Minister AMA Muhith on Tuesday said the remarks of US Secretary of State Hillary Clinton over Grameen Bank are unnecessary as the government has not been working against the microfinance organisation.

"Hillary's statement on the Grameen Bank was undue. Grameen Bank is a state-owned organisation and the government has been working for its progress," Muhith told reporters emerging from a programme at his office.

It is the first government reaction after the US secretary of state made a statement saying that the USA does not endorse any action of the Bangladesh government to undermine the achievements of Grameen Bank.

Before wrapping up her 20-hour Dhaka tour on Sunday, Hillary also said she had followed the problems stemming from a change in the management in Grameen Bank.

The finance minister also said that Hillary's statement will not change government's stance on the microfinance organisation.

Muhith said that it is not government but Yunus who locked in a quarrel with the government on the Grameen Bank issue.

He claimed that the efforts of the government made Prof Muhammad Yunus, founder of the Grameen Bank, so successful.

The minister also claimed that the Grameen Bank is doing well after the removal of Yunus from the post of managing director of the organisation.