A social business is a non-loss and non-dividend company where investors can recoup their dividend but nothing beyond that. All profits will be used to improve the products and services, and/or to increase the company’s reach. Social business campaigners and experts from 15 countries joined Prof Muhammad Yunus in
grameenbank
Social business will change society: Yunus
The second annual Social Business Day was observed on Tuesday in the capital to celebrate Nobel laureate Prof Muhammad Yunus’s concept of social business and its implementation. Prof Yunus opened the daylong events held at Hotel Sonargaon marking the day. Inaugurating the events, he elaborated the role of social business in the country towards
Yunus worried about GB future
Tells The Daily Star it’s not wise to amend law to ensure govt control Nobel laureate Muhammad Yunus has warned that Grameen Bank could run into deep trouble if the government amends the law to take control of the microfinance bank founded by him. “If those amendments [proposed by the review committee] come and the ... Read more
Do not let go of GB ownership
Prof Yunus writes to members Nobel Laureate Professor Muhammad Yunus yesterday urged the 83 lakh members of Grameen Bank to remain vigilant against any attempts to take away the microfinance bank from the majority shareholders. The caution came after his resignation as the bank’s managing director amid widespread speculation that his removal was part of ... Read more
Govt plans to overhaul GB
14-pt blueprint to raise govt stake in Grameen Bank The government has planned to raise its stake in the Grameen Bank and establish control over its lucrative sister firms in a move that will transform the Nobel winning micro-lender into another state-owned bank. The finance ministry has outlined the plan in a 14-point blueprint, which ... Read more
Continued help assured for Grameen’s independence
Friends of Grameen, an international platform promoting Grameen Bank and its activities, yesterday insisted that it will continue its fight to help the microfinance institution retain its independence. The statement from the global platform came a day after Grameen Bank founder Prof Muhammad Yunus stepped down as the bank’s managing director — much to the ... Read more
Prof Yunus resigns
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 ... Read more
Let Grameen Bank flourish further
Appeals Prof Yunus Grameen Bank’s future is connected with 40 million borrowers, and it should be ensured that its achievements in the last four decades are not undone, Nobel laureate Prof Muhammad Yunus said in a statement yesterday. “Now our challenge is to create the opportunity so that the second generation of Grameen Bank
Torture marks on GB staffer’s body
Cops record case; Grameen Bank concerned Police yesterday recorded a case in connection with abduction of a Grameen Bank official from the capital’s Mirpur Friday evening and his release after four hours of torture allegedly by intelligence personnel. Victim Sagirur Rashid Chowdhury, an accounts officer of the bank, alleged, “Some personnel of the intelligence aided ... Read more
Prof Yunus to remain MD until decision by GB board
Prof Muhammad Yunus is still the managing director of Grameen Bank and will continue to be so until the bank’s board of directors appoints a new MD, said Rokanuddin Mahmud, a counsel for the Nobel laureate, yesterday. Rokanuddin’s statement came a day after the Supreme Court (SC) affirmed a High Court verdict
Achievements in 10 ‘unlawful’ yrs
When a person passes a decade in a position “unlawfully” and then is suddenly removed for that “unlawful” occupation, one tends to ask what he did and how his organisation fared during that passage of time. For Prof Muhammad Yunus and Grameen Bank in which he served as the managing director, those ten years were ... Read more
Make Yunus chairman
Demand Grameen Bank staff The board members and employees of Grameen Bank have urged the government to appoint Nobel Laureate Prof Muhammad Yunus as the bank’s chairman. Grameen Bank Karmachari Samity (employees’ association) made the call yesterday, hours after the Supreme Court refused Yunus’ petition to overturn an order that dismissed him from the
Utilise Yunus’ experience in running GB
Suggest 3 economists Three senior economists yesterday said the government should utilise the expertise of Nobel laureate Prof Muhammad Yunus in running Grameen Bank. Akbar Ali Khan, formerfinance adviser to a caretaker government; Debapriya Bhattacharya, distinguished fellow of Centre for Policy Dialogue; and former central bank governor
SC dismisses Yunus petition
The Supreme Court on Thursday dismissed two petitions filed in connection with Dr Muhammad Yunus’ removal from the post of managing director at Grameen Bank. The seven-member bench of the Appellate Division headed by Chief Justice ABM Khairul Haque passed the order at about 10:20am
Yunus’s lawyers call HC order ‘perverse’, ‘biased’
Lawyers acting for Mohammad Yunus, the founder of Grameen Bank, argued on Monday before the Appellate Division of the Supreme Court that the High Court order, which had ‘summarily dismissed’ their application challenging the legality of Bangladesh Bank’s attempt to remove their client from his post of managing director, was ‘perverse’,
Appoint Yunus as chairman
Grameen Bank employees urge govt Employees of Grameen Bank yesterday urged the government to appoint Nobel laureate Prof Muhammad Yunus as chairman of the microfinance bank to ensure its smooth running. “If Prof Yunus cannot be allowed to work as managing director for crossing retirement age, he should be appointed chairman,” said Md Shamsul Alam, ... Read more
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