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 hold charge until a managing director is

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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

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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

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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 the golden time of phenomenal rise and glorious shine. Bangladesh also shone bright with

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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

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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

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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

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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’,

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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, president of Grameen Bank

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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

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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

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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 dialogue between the

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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 Director of Grameen Bank he founded.
“Such a compromise will also allow us to continue very good progress that we made in our

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Norwegian Television’s big lie

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 of this documentary in November 2010—a

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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 March 9 filed two

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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 Supreme Court is scheduled today to hear Yunus’ appeal against the

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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 is the simple proposition you have to keep in

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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, Avebury and some British MPs and

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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 the

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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 US-based

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