Print View

[Section Index]

The Grameen Bank Ordinance, 1983

( Ordinance NO. XLVI OF 1983 )

Functions
19. The Bank shall provide credit with or without collateral security, in cash or in kind, for such term and subject to such conditions as may be prescribed, to landless persons for all types of economic activities including housing, but excluding business in foreign exchange transaction, and may carry on and transact the several kinds of business hereinafter specified, that is to say,-
 
 
(a) the accepting of money on deposit;
 
 
(b) the borrowing of money for the purpose of the Bank's business against the security of its assets or otherwise;
 
 
(c) the issuing and selling of bonds and debentures;
 
 
(d) for the purpose of securing loans and advances made by the Bank, accepting pledge, mortgage, hypothecation or assignment to the Bank of any kind of movable or immovable property;
 
 
1[(e) undertaking the management, control and supervision of any rural organisation, enterprise or scheme for the benefit and advancement of landless persons;]
 
 
(f) 2[* * *] the buying, stocking and supplying on credit to landless persons of industrial and agricultural inputs, livestock, machinery, implements and equipments and industrial raw materials and acting as agent for any organisation for the sale of such goods or livestock;
 
 
(g) 3[* * *] the subscribing to the debentures, being debentures repayable within a period not exceeding ten years, of any body corporate concerned with economic activities in rural areas;
 
(h) 4[* * *] the purchasing of shares of any body corporate, the object of which is to provide services to landless persons;
 
 
(i) the custody of savings certificate, title deeds and other valuable articles and the collection of the proceeds, whether principal, interest or dividends of any such securities or saving certificates;
 
 
(j) the paying, receiving, collecting and remitting of money and securities within the country;
 
 
(k) the acquiring, maintaining and transferring of all movable and immovable property, including residential premises, for carrying on its business;
 
 
(l) carrying out survey and research, issuing publication and maintaining statistics relating to the improvement of economic condition of the landless persons;
 
 
(m) providing professional counsel to landless persons regarding investments in small business and such cottage industries as may be prescribed;
 
 
(n) encouraging investments in such cottage industries as may be prescribed and service projects by landless persons;
 
 
5[(nn) undertaking income-generating projects for landless persons;]
 
 
(o) providing services to the borrowers regarding all kinds of insurances;
 
 
(p) 6[* * *] constituting, promoting, issuing, organising, managing and administering Mutual Funds or Unit
 
 
Trusts of any type or character, and acquiring, holding, dealing, selling, paying or disposing of or dealing in shares, certificates or securities of such Funds or Trusts;
 
 
(q) rendering managerial, marketing, technical and administrative advice to borrowers and assisting them in obtaining services in those fields;
 
 
(r) the opening of accounts or the making of any agency arrangement with, and the acting as agent or correspondent of, any bank or financial organisation;
 
 
(s) the investing of its funds in Government securities;
 
 
(t) the selling and realising of all properties, whether movable or immovable, which may in any way come into the possession of the Bank in satisfaction or part satisfaction of any of its claim and the acquisition and the holding of, and generally the dealing with, any right, title or interest in any property, movable or immovable, which may be the Bank's security; and
 
 
(u) generally the doing of all such acts and things as may be necessary, incidental or conducive to the attainment of the object of the Bank.

  • 1
    Clause (e) was substituted by section 8 of the গ্রামীণ ব্যাংক (সংশোধন) আইন, ১৯৯০ (১৯৯০ সনের ৫০ নং আইন)
  • 2
    The words and comma “with the approval of the Government,” were omitted by section 8 of the গ্রামীণ ব্যাংক (সংশোধন) আইন, ১৯৯০ (১৯৯০ সনের ৫০ নং আইন)
  • 3
    The words and comma “with the approval of the Government,” were omitted by section 8 of the গ্রামীণ ব্যাংক (সংশোধন) আইন, ১৯৯০ (১৯৯০ সনের ৫০ নং আইন)
  • 4
    The words and comma “with the approval of the Government,” were omitted by section 8 of the গ্রামীণ ব্যাংক (সংশোধন) আইন, ১৯৯০ (১৯৯০ সনের ৫০ নং আইন)
  • 5
    Clause (nn) was inserted by section 8 of the গ্রামীণ ব্যাংক (সংশোধন) আইন, ১৯৯০ (১৯৯০ সনের ৫০ নং আইন)
  • 6
    The words and comma “with the approval of the Government,” were omitted by section 8 of the গ্রামীণ ব্যাংক (সংশোধন) আইন, ১৯৯০ (১৯৯০ সনের ৫০ নং আইন)
Copyright © 2019, Legislative and Parliamentary Affairs Division
Ministry of Law, Justice and Parliamentary Affairs