Grameen Bank
On 4 October 2013, Bangladesh's cabinet has approved the draft of a new law that will give the country's central bank closer control over Grameen Bank, raising the stakes in a long-running dispute with the pioneering microlender. The Grameen Bank Act 2013 was approved at a cabinet meeting chaired by Prime Minister Sheikh Hasina on Thursday. It was passed by parliament on 7 November 2013, and replaced the Grameen Bank Ordinance, the law that underpinned the creation of Grameen Bank as a specialised microcredit institution in 1983. The government new plan is to break Grameen into 19 pieces. "The New York Times" reports: