Micro-credit borrowers baffled

Prof Muhammad Yunus’ removal from the post of Grameen Bank’s managing director surprised many of its borrowers, who dubbed him the pathfinder in elevating them from poverty.
Ayesha Khatun of Noorpur in Pabna took a Tk 130,000 loan from Grameen Bank on November 10, 2009 to help her son run a computer

Read more

Unfair, ominous

Say economists, Yunus admirers; US embassy ‘deeply troubled’ by move
Economists with huge policy-making experience denounced the way the government decided to remove Prof Muhammad Yunus from the Nobel Prize winning Grameen Bank.
Prof Wahiduddin Mahmud, Dr Hossain Zillur Rahman, and Dr Debapriya Bhattacharya said the move will send a negative signal to the country’s microcredit

Read more

Yunus removal seen as harassment move

Economists, rights activists and jurists saw the removal of Muhammad Yunus from Grameen Bank as a move to harass an individual instead of bringing remedy to people’s sufferings caused by the much-hyped micro credit.
Jahangirnagar University’s economics teacher Anu Muhammad said that the government’s

Read more

Banker to the Poor captivates world

Professor Muhammad Yunus began his Grameen Bank Project in Jobra, a village near Chittagong University, his then workstation, in the port city in 1976 in an effort to reverse conventional banking practice and take financial services to the deprived.
His first project was lending his own money to the destitute basket-weavers. The idea

Read more

Govt in a fix over how to sack Yunus

Govt in a fix over how to sack Yunus
David Bergman and Abdullah Juberee
The Bangladesh Bank, the finance ministry and the law ministry are in disagreement with each other about how to sack Muhammad Yunus from his position as managing director of the Grameen Bank.
The finance ministry, following advice it received from the law ministry, asked the Bangladesh Bank on Tuesday to use the powers set out in the Banking Companies Act 1991 to force the

Read more

Yunus issue a legal matter, says Muhith

The scheduled meeting between the Finance Minister Abul Mal Abdul Muhith and Noble laureate Prof Muhammad Yunus reportedly over his continuity as Managing Director of Grameen Bank has been deferred by a couple of days due to the visit of Princess Anne to Bangladesh. The Finance Minister told The Independent Tuesday that he will talk with Yunus over the issue arising from a Bangladesh Bank

Read more

Yunus beyond legal age limit

BB Letter To Finance Ministry
Yunus beyond legal age limit
Grameen Bank chairman presents it at board meeting
The chairman of Grameen Bank yesterday presented a letter at a board meeting that questioned the post of Professor Muhammad Yunus as its managing director beyond his retirement age.
The letter was written by a Bangladesh Bank official to the finance ministry expressing an opinion that Prof Yunus continued to hold the post beyond his retirement age of 60, which was

Read more

US asks govt not to harass Yunus

David Bergman
US officials have told Sheikh Hasina that there will be no further high-level diplomatic interaction between the United States and Bangladesh until the harassment of Muhammad Yunus, founder of the Grameen Bank, ends.
A senior western diplomat, with direct knowledge of these conversations, told New Age that

Read more

Prof Yunus tells stories of his boyhood travel

Two Books Launched
Prof Yunus tells stories of his boyhood travel
Some 56 years ago, Nobel laureate Prof Muhammad Yunus had been nominated for attending World Scouts Jamboree when he was a student of class X at Chittagong Collegiate School.
When asked why he wanted to join the jamboree, 15-year-old Yunus told the chief national commissioner of scout during his interview that he would write a travel

Read more

Kerry Kennedy rallies behind Grameen

Kerry Kennedy, a human rights activist and niece of former American president John F Kennedy, has recently joined Friends of Grameen, an international platform set up to protect interests of Grameen Bank and its founder Muhammad Yunus.
She will be one of the vice presidents of the group’s executive committee, said a statement

Read more

Yunus slates ‘loan shark’ microlenders

Nobel laureate Muhammad Yunus has labelled profit-driven microfinance firms as ‘loan sharks’ who undermine the small-credit schemes that he pioneered to help tackle poverty.
Yunus, who won the Nobel Peace Prize in 2006 for making loans available to poor entrepreneurs, hit out at the commercial microfinance companies as the concept faces

Read more

Huge support for Yunus

Former Irish president Mary Robinson has joined the development partners, prominent personalities and corporations in vowing to protect Nobel Laureate Muhammad Yunus from “politically orchestrated” attacks.
As many as 50 charities and public figures, including James Wolfensohn, former World Bank president, Jagdish Sharan Verma, former Chief Justice of India, and Yeardley Smith, a

Read more

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

Read more