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
profyunus
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’,
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