The Supreme Court of Bangladesh has confirmed, Tuesday, March 8, the validity of the decree issued by the central bank to force Muhammad Yunus to leave the direction of the micro-credit bank he founded. Winner of the Nobel Peace in 2006 for his activities as head of the Grameen Bank, Muhammad Yunus has been removed from the management of his bank because he had exceeded the age of retirement at age 60.
This decision was seen by supporters of Mr. Yunus, aged 70, as an initiative opposed by the Government of Bangladesh Sheikh Hasina. The bank claims to have established an exception to its general manager since 1999. The founder of the microcredit institution Grameen Bank, Muhammad Yunus, on Monday denounced a response "absurd" by the government.
"The situation is quite absurd," Yunus said at a press conference devoted to micro-finance in Washington, where he spoke by video-conference from Dhaka. Yunus explained that since the State had three representatives on the board of directors and 25% share of the Grameen Bank, the pattern seemed untrue.
The Dhaka High Court held a hearing Monday on the case, where his lawyers have denounced the "personal attack" without legal basis. Muhammad Yunus has denied having any political ambition or electoral. He launched the idea of forming a political party in early 2007, denouncing a ruling class interested in "money and power," but decided against it after a few months. 
This decision was seen by supporters of Mr. Yunus, aged 70, as an initiative opposed by the Government of Bangladesh Sheikh Hasina. The bank claims to have established an exception to its general manager since 1999. The founder of the microcredit institution Grameen Bank, Muhammad Yunus, on Monday denounced a response "absurd" by the government.
"The situation is quite absurd," Yunus said at a press conference devoted to micro-finance in Washington, where he spoke by video-conference from Dhaka. Yunus explained that since the State had three representatives on the board of directors and 25% share of the Grameen Bank, the pattern seemed untrue.
The Dhaka High Court held a hearing Monday on the case, where his lawyers have denounced the "personal attack" without legal basis. Muhammad Yunus has denied having any political ambition or electoral. He launched the idea of forming a political party in early 2007, denouncing a ruling class interested in "money and power," but decided against it after a few months.
- "Muhammad Yunus, Bangladeshi Nobel laureate sacked by Grameen, loses appeal" and related posts (09/03/2011)
- Muhammad Yunus Ousted as Head of Grameen Bank (02/03/2011)
- Clinton, in gesture of support, speaks to Yunus (08/03/2011)
- "Grameen bank resists pressure to fire Muhammad Yunus" and related posts (03/03/2011)
- Muhammad Yunus dismissal upheld (08/03/2011)
No comments:
Post a Comment