Tuesday, December 5, 2023

Yunus meets Hillary Clinton

Nobel laureate Muhammad Yunus met the US secretary of state, Hillary Rodham Clinton, at her office in the state department on Thursday. They discussed a broad range of issues relating to microcredit and social business as tools to fight poverty, and other issues relating to women and global justice, according to a message from

Fukuoka: Second Social Business City

Fukuoka has become the second city in the world to be named “Social Business City” for spreading activities based on the much-talked-about economic theory championed by Nobel Laureate Muhammad Yunus. Soichiro Takashima, the recently elected mayor of the Japanese city, made the announcement at the closing of the Asian Forum for Social Business that took ... Read more

EU supports social business

European Commission president meets Yunus Strengthening social business and promoting innovative methods of accessible finance are not only a matter of justice but also a concrete way to help the poorest of the poor, European Commission President José Manuel Barroso has said. He said social business is also “a smart investment in our shared future. ... Read more

Another world order at play

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

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

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

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’,

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