Dhaka, Jan. 9 -- Grameen Bank, the Nobel prize-winning microfinance institution, is poised for a significant shift in its ownership and governance structure.

Under a new proposal, the government's stake in the bank would shrink from 25 per cent to just 5.0 per cent, marking a decisive move to diminish state control over the organisation.

Should the plan go forward, oversight of the bank, currently influenced by the government, would be transferred to Bangladesh Bank, according to a bdnews24.com report.

The Financial Institutions Division of Bangladesh's Ministry of Finance has drafted an ordinance to amend the Grameen Bank Act of 2013. The draft, which has been published on the website, signals sweeping reforms for the microfinance ins...