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The National Board of Revenue (NBR) has granted Grameen Bank a tax exemption until 2029, with the condition that it submits income tax returns.
"This facility came into effect from the date of issue of the order", according to a statutory regulatory order (SRO) issued on 10 October, signed by Abdur Rahman Khan, NBR chairman and secretary of the finance ministry's Internal Resource Division (IRD).
Since its establishment in 1983, Grameen Bank has consistently received tax exemption benefits. However, since 2020, the Nobel Peace prize winning bank could no longer avail this facility.
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Professor Muhammad Yunus, now chief adviser to the interim government, served as the managing director of the bank for 28 years since its inception.
The NBR also granted exemption for income from donations to non-profit religious charity As-Sunnah Foundation.
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