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
yunus removal upheld
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
Hillary backs Grameen independence
US Secretary of State Hillary Clinton backed Grameen Bank’s independence in a telephone call to Prof Muhammad Yunus, her spokesman said. “Secretary Clinton spoke yesterday with Dr Muhammad Yunus and expressed support for the independence of the Grameen Bank in Bangladesh,” Clinton spokesman Philip Crowley said on
Yunus removal upheld
HC rejects Nobel hero’s petition against his ouster by govt from Grameen Bank; Yunus may appeal with SC today The High Court yesterday upheld Bangladesh Bank’s “removal” of Nobel laureate Muhammad Yunus from the post of Grameen Bank’s managing director. He will appeal against the verdict with the Supreme Court, his lawyers said. An HC ... Read more
No happy feelings
Civil society feels the issue treated unduly, worries about Grameen Bank; US still hopeful The High Court treated the issue of Prof Muhammad Yunus’ removal from Grameen Bank with a narrow mindset, economists and civil society members yesterday said. They said the court did not consider his contribution to development, poverty alleviation and improving the ... Read more