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

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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

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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 dialogue between the

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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 Director of Grameen Bank he founded.
“Such a compromise will also allow us to continue very good progress that we made in our

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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 of this documentary in November 2010—a

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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 March 9 filed two

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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 Supreme Court is scheduled today to hear Yunus’ appeal against the

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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 is the simple proposition you have to keep in

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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, Avebury and some British MPs and

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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 the

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Abed, Yunus among world’s top 100

Two renowned Bangladeshis have been included in a list of ‘Top 100 Individuals’ who have committed themselves to improve the lives of girls and women around the world.
Founder of Grameen Bank and Nobel laureate Dr Muhammad Yunus and Sir Fazle Hasan Abed, founder and chairperson of Brac, were included in the list prepared by US-based

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Grameen Bank on Joy’s letter

Sajeeb Wajed Joy, son of Prime Minister Sheikh Hasina, has riddled Grameen Bank with allegations of tax evasion, fraud and illegal activities under its founder Muhammad Yunus, prompting the microlender to issue a firm rebuttal.
In a statement yesterday, the “Bank for the Poor” disputed Joy’s letter, published in a section

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Full SC bench to decide Yunus’ fate

Hearing on Mar 15; move on to find new MD for Grameen Bank
Nobel laureate Dr Muhammad Yunus yesterday filed an appeal with the Supreme Court in a final attempt to stay as the managing director of Grameen Bank he founded nearly three decades ago.
In the appeal filed with Supreme Court chamber judge Justice Syed Mahmud Hossain, Dr Yunus sought a stay on a High Court ruling that upheld his removal by the Bangladesh Bank on

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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

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Yunus removal upheld

HC rejects Nobel hero’s petition against his ouster by govt from Grameen Bank; Yunus may appeal with SC today
The High Court yesterday upheld Bangladesh Bank’s “removal” of Nobel laureate Muhammad Yunus from the post of Grameen Bank’s managing director.
He will appeal against the verdict with the Supreme Court, his lawyers said.
An HC bench summarily rejected two writ petitions filed challenging the legality of the central

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No happy feelings

Civil society feels the issue treated unduly, worries about Grameen Bank; US still hopeful
The High Court treated the issue of Prof Muhammad Yunus’ removal from Grameen Bank with a narrow mindset, economists and civil society members yesterday said.
They said the court did not consider his contribution to development, poverty alleviation and improving the image of the country

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Removal letter illegal

Say Yunus’ counsels, argue at HC as no show cause notice served; hearing resumes today
Counsels for Nobel laureate Dr Muhammad Yunus yesterday argued that there is no legal bar for him to continue as the managing director of Grameen Bank since the Bangladesh Bank’s directive to remove him was illegal.
The removal of Yunus without any show-cause notice was a violation of law, they told the High Court while placing arguments on a writ petition filed by Yunus, who challenged the legality of

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All eyes on HC

Order on Yunus ‘removal’ today; BNP asks govt to scrap decision
The High Court gives its order today on a writ petition of Prof Muhammad Yunus, who challenged his removal from Grameen Bank, amid calls at home and abroad for treating the Nobel laureate gracefully.
Bangladesh Bank sought to remove Yunus from the post of managing director of Grameen Bank for “holding on to the position without prior permission from the regulator.” Yunus’ removal from

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Abed points at trust of borrowers

A sudden exit of the Grameen Bank founder from its Board of Directors and a legal battle between its board and the government may dent borrowers’ confidence, putting the organisation’s future in doubt, said Sir Fazle Hasan Abed yesterday.
The chairperson of Brac, the world’s largest non-government organisation, in a statement

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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

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