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
grameenbank
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
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 ... Read more
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
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 ... 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
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 ... Read more
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 ... Read more
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 ... Read more
Finance ministry rejects Grameen claims
The finance ministry yesterday protested the Grameen Bank rejoinder published in different national dailies and said many of the claims made by the microlender are unfounded. In a statement, it said it is better not to make further comments on an issue that is being dealt with by court. The finance minister did not openly ... Read more
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
Govt asked Yunus to step aside
The finance minister yesterday said the government had asked Nobel laureate Muhammad Yunus to stay away from Grameen Bank as long as a review of the microlender continues. “I suggested Mr Yunus should step aside as Grameen Bank’s managing director, transferring his powers to the deputy managing director,” AMA Muhith told