The High Court on Tuesday asked the finance ministry to publicise within ‘reasonable time’ the probe report on the recent share market scam in which thousands of investors lost their money and many small investors became bankrupt. The High Court vacation bench of Justice Syed Mohammad Ziaul Karim and Justice
bangladesh bank
Capital: most banks have enough
Most of the forty-seven commercial and specialised banks have dodged various risks to successfully maintain their capital adequacy. However, according to Bangladesh Bank (BB) information, five banks — two private commercial banks and three specialised banks — failed to meet the capital
Yunus wants to see Grameen Bank unharmed
Nobel laureate Dr Muhammad Yunus on Wednesday said he want to see Grameen Bank remains unscathed in future. The microcredit guru told this to the review committee on the issues relating to Grameen Bank while presenting his exit plan at a meeting at
Yunus’ plea hearing adjourned till Apr 4
The Supreme Court on Tuesday adjourned till April 4 the hearing on the appeals filed against the High Court verdict that upheld a Bangladesh Bank order removing Muhammad Yunus from the office of Grameen Bank managing director. The seven-member bench of the Appellate Division headed by Chief Justice ABM Khairul Haque
US for govt talks with Yunus
Blake says compromise possible; Wolfensohn backs amicable solution The United States yesterday called for a dialogue between Prof Muhammad Yunus and Bangladesh government to reach a solution to the dispute over the status of the Nobel laureate in the Grameen Bank he founded. “‘I do believe that a compromise is possible and I am encouraging ... Read more
Room still there for compromise
Blake says about Yunus’ removal after meeting PM; Muhith says Yunus could be a fellow at GB US Assistant Secretary of State for South and Central Asian Affairs Robert Blake yesterday said “there is still room for compromise” in resolving the issue arising from the removal of Nobel laureate Prof Muhammad Yunus as the Managing ... Read more
Norwegian Television’s big lie
by David Bergman Tom Heinemann, the director of the documentary broadcast on Norwegian television which accused Muhammad Yunus of transferring aid money out of the Grameen Bank and using some of it to fund a telecom company, appears on the cusp of securing a big scalp. There can be little doubt that without the broadcast ... Read more
SC to examine Yunus verdict
Adjourns appeal hearing for two weeks The Supreme Court yesterday adjourned for two weeks the hearing on two appeals filed against the High Court verdict that upheld a Bangladesh Bank order removing Muhammad Yunus from the office of Grameen Bank managing director. Nobel Laureate Dr Yunus and nine board members of the microfinance bank on ... Read more
US congressmen send letter to PM
Urges her to resolve Yunus issue thru’ mutual compromise; full SC bench hears Yunus appeal today Twenty-six congresspeople of the United States have said they are troubled by the removal of Prof Muhammad Yunus from the Grameen Bank, and urged Prime Minister Sheikh Hasina to resolve the issue through a mutual compromise. Meanwhile, the Bangladesh ... Read more
Listen to 80 lakh owners
Rehman Sobhan urges govt about Grameen Bank at micro-credit roundtable The government should heed the calls of 80 lakh Grameen Bank shareholders and let a democratic process determine how the organisation will be run, eminent economist Rehman Sobhan said yesterday. “If you respect democracy, the prime ownership rests with the principal shareholders of the organisation. This ... Read more
Yunus is a political victim
Say some British MPs, academics Lord Avebury, vice-chair of the UK Parliamentary Human Rights Group, has said the removal of Grameen founder Prof Muhammad Yunus by the government from his post raises serious concerns about the creeping politicisation of development work and civil society in Bangladesh. In a joint statement in London issued on March 11, ... Read more
More support for Yunus from abroad
The world’s best-known microfinance institutions and over a dozen Bangladeshi scholars living abroad condemned the government move to remove Prof Muhammad Yunus from Grameen Bank. In a statement, Tilman Ehrbeck, chief executive of the Consultative Group to Assist the Poor (CGAP), and Vijay Mahajan, chair of the CGAP board, said, “We are deeply concerned by ... Read more
Hillary backs Grameen independence
US Secretary of State Hillary Clinton backed Grameen Bank’s independence in a telephone call to Prof Muhammad Yunus, her spokesman said. “Secretary Clinton spoke yesterday with Dr Muhammad Yunus and expressed support for the independence of the Grameen Bank in Bangladesh,” Clinton spokesman Philip Crowley said on
Grameen bins Muhith claims
Grameen Bank yesterday said it took prior permission from Bangladesh Bank for appointing Dr Muhammad Yunus as its managing director, rejecting Finance Minister AMA Muhith’s claims that it had not. The microlender also described Muhith’s comments on Yunus as incorrect and said it did not disobey the law in appointment of the Nobel laureate
Govt stake comes down to 3.5pc
Sajjadur Rahman A debate over the ownership of the Grameen Bank is brewing, as the finance and foreign ministers have repeatedly claimed Grameen is a government institution. A question about the government’s stake in the bank came to the fore after the “removal” of Nobel laureate Prof Muhammad Yunus from the post of its
‘Removal’ rolls into HC
Order on Yunus’ petition Sunday; Nobel hero wants a ‘graceful solution’ to his departure from Grameen Professor Muhammad Yunus yesterday went to court challenging the central bank order that removed him from the post of managing director of Grameen Bank, while the wider international community showed its displeasure at the way the Nobel prize winner ... Read more
US deeply troubled
Moriarty says Hillary-Yunus meet Mar 28; diplomats, donors worried, frustrated Foreign diplomats in Bangladesh have sharply reacted to the government’s move to remove Nobel laureate Prof Muhammad Yunus from Grameen Bank and none of them took it positively. They said they never thought that the government could make such an extreme move against an internationally ... Read more
Arguments at court
Appearing for Prof Muhammad Yunus, eminent jurist Dr Kamal Hossain prayed for a ruling on the government to explain why the Bangladesh Bank’s “letter of removal” should not be declared illegal. He also prayed for a stay order on the effectiveness of the central bank’s letter. Nobel laureate Yunus at the High Court yesterday challenged ... Read more
Image dented
Admits Muhith, but says ‘we had no other alternative’ Bangladesh’s image has been dented due to the government’s “removal” of Nobel laureate Professor Muhammad Yunus from Grameen Bank, Finance Minister AMA Muhith admitted yesterday. “It has not lifted the country’s image at all, but we had no other alternative,” he told journalists after a meeting ... Read more
Yunus ‘removed’
Central Bank issues letter to Grameen Bank; Grameen terms it a legal issue, insists the Nobel hero still holds office Dr Muhammad Yunus, the man who brought a Nobel Prize for Bangladesh, and the most celebrated living Bangladeshi around the globe, was unceremoniously relieved of his duties at Grameen Bank yesterday through a Bangladesh Bank ... Read more