Grameen bank investigated

BANGLADESH'S government has ordered a probe into Muhammad Yunus's Grameen Bank.

The probe is the latest sign of friction between Prime Minister Sheikh Hasina
and the acclaimed pioneer of microfinance.

Mr Yunus won the 2006 Nobel Peace Prize for Grameen's much-copied microfinance
scheme, which provides small loans to millions of poor people.

Grameen Bank was recently cleared after a Norwegian documentary accused it of
financial wrongdoing, but Ms Hasina has since said microfinance loans were
"sucking blood from the poor".

A committee will look into the documentary's allegations that $US96 million
($97.2m) was illegally diverted from Grameen Bank to other parts of the group.

The probe comes as the microfinance industry is under fire in neighbouring India
over accusations of profiteering through high interest rates and heavy-handed
debt collection. Sumber APF