It’s a black day

Nobel laureate Muhammad Yunus on Thursday termed the amendment to Grameen Bank Ordinance ‘a black day’ for the nation and said it would mark the beginning of the end of the glorious history of Greameen Bank.’
The founder of Grameen Bank made the remarks in a press statement within hours of the government
notifying the amended ordinance in its official

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Yunus not telling truth: Muhith

The finance minister, Abul Maal Abdul Muhith, on Sunday said that Muhammad Yunus was not telling the truth when he said that the government was out to grab Grameen Bank with its various activities and Yunus’s saying such things were harmful for the country.
‘He is running unnecessary campaigns that the government wants to take over

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Grameen fettered

Changes to ordinance give govt-appointed chairman almost absolute power to pick MD, Yunus’ income under scrutiny
The cabinet yesterday approved a proposal for amending an ordinance to give more powers to the Grameen Bank chairman to choose the managing director of the microlender.
The amendment to the Grameen Bank Ordinance 1983 will undermine the autonomy of the bank started by Nobel Peace Prize laureate Prof Muhammad Yunus

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Autonomy curbed

4 leading personalities censure govt move
Civil society leaders yesterday condemned the government move to curtail the autonomy of the Nobel winning Grameen Bank as an undemocratic decision that they believe would give negative signals to the world.
The cabinet approved of an amendment to the Grameen Bank Ordinance 1983, which would reduce the power of GB board, giving more authority to the chairman to choose its new

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I’m fearful of its future

Grameen Bank
I’m fearful of its future 
Says Yunus in an open letter
Prof Muhammad Yunus yesterday urged stakeholders and the government not to take any step to change the legal structure of the Nobel-winning Grameen Bank.
In an open letter to the borrower owners of Grameen Bank, Yunus expressed his fear that steps are afoot to alter the management

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Yunus, Abed talk garment exports with Hillary, seek free access to US

Nobel laureate Prof Muhammad Yunus and BRAC Chairperson Sir Fazle Hasan Abed yesterday urged US Secretary of State Hillary Clinton to allow Bangladeshi garments duty-free access to the US market to help create local jobs, especially for women.
They met Hillary at a breakfast meeting at the US ambassador’s residence in

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No Yunus

Muhith rules out Nobel hero-led search committee for Grameen Bank MD
The government yesterday dismissed the proposition of making Prof Muhammad Yunus the head of a committee to find the managing director for Grameen Bank.
“Some members [of the Grameen Bank board] proposed appointment of Dr Yunus as the chairman of the search committee. But we cannot accept this as a previous MD should not

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Yunus among 12 greatest entrepreneurs

Fortune Magazine’s List
Yunus among 12 greatest entrepreneurs
Nobel Laureate Prof Muhammad Yunus has been named by Fortune magazine as one of the 12 Greatest Entrepreneurs of Our Time.
This list published in the magazine’s latest issue places Prof Yunus among the band of highly exclusive individuals, all of whom are known throughout the world for their innovation, vision

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Yunus unwilling to be WB chief

Thanks PM for proposal; says he would rather head ‘World Social Business Bank’ in future
Nobel Laureate Prof Muhammad Yunus has said he is not interested in taking the helm of the World Bank, as he wants to dedicate his life to social business.
In a statement issued yesterday, he, however, thanked Prime Minister Sheikh Hasina for proposing his name for the WB presidency. He described the proposal as

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Yunus banks on youths

Says they will change politics
Prof Muhammad Yunus yesterday called for an alternative political stream in the country, saying politicians were failing to fulfil the aspirations of the people.
He said frustration over politics was deepening among the people. “People are not satisfied with the politicians. So, politics has to be pursued in new ways. Alternative political stream has

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Let poor prove their ability

Prof Yunus tells Vienna Social Business Summit
Nobel laureate Prof Muhammad Yunus yesterday said the poor people of Bangladesh were like Bonsai, who have been stunted by oppression. But they have the ability to grow if they are given the opportunity.
He was addressing the concluding session of the third Global Social Business Summit, hosted by Germany-based Grameen Creative Lab at the Congress Centre in the capital of

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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. The European

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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

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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

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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 government penetrates the bank, it will not survive very long,” Prof Yunus said in an exclusive interview with

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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 a coordinated government ploy to take the full control of the

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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 follows the controversial sacking of the Nobel Peace Prize winner Professor Muhammad Yunus from the micro-lender he

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