Prof Muhammad Yunus has stepped down as the managing director of Grameen Bank in order to prevent undue disruption in the activities of the microfinance bank, the Nobel laureate confirmed yesterday.
“I am today [yesterday] relinquishing the post of managing director of Grameen Bank on the basis that the Deputy Managing Director Nurjahan Begum would hold charge until a managing director is appointed in accordance with the procedures under section-14 of the Grameen Bank ordinance,” he said.
“Since the board of Grameen Bank is my appointing authority, it may take appropriate steps,” he said, in a statement.
Prof Yunus said he has still not received the Supreme Court Appellate Division’s full order. “I am taking this step without prejudice to the legal issues raised before the Supreme Court, and in order to prevent undue disruption in the activities of Grameen Bank and to ensure my colleagues and our 80 lakh members, and owners of the bank, are not subjected to any difficulty in discharging their responsibilities.”
The founder of the Nobel winning institution hopes the bank would continue to operate maintaining its independence and character under the Grameen Bank Ordinance and move towards even greater success.
Courtesy of New Age