US deeply troubled

Moriarty says Hillary-Yunus meet Mar 28; diplomats, donors worried, frustrated
Foreign diplomats in Bangladesh have sharply reacted to the government’s move to remove Nobel laureate Prof Muhammad Yunus from Grameen Bank and none of them took it positively.
They said they never thought that the government could make such an extreme move against an internationally reputed personality like

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Arguments at court

Appearing for Prof Muhammad Yunus, eminent jurist Dr Kamal Hossain prayed for a ruling on the government to explain why the Bangladesh Bank’s “letter of removal” should not be declared illegal. He also prayed for a stay order on the effectiveness of the central bank’s letter.
Nobel laureate Yunus at the High Court yesterday challenged the legality of a March 2

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Image dented

Admits Muhith, but says ‘we had no other alternative’
Bangladesh’s image has been dented due to the government’s “removal” of Nobel laureate Professor Muhammad Yunus from Grameen Bank, Finance Minister AMA Muhith admitted yesterday.
“It has not lifted the country’s image at all, but we had no other alternative,” he told journalists after a meeting with top foreign diplomats and representatives of Bangladesh’s development

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Yunus ‘removed’

Central Bank issues letter to Grameen Bank; Grameen terms it a legal issue, insists the Nobel hero still holds office
Dr Muhammad Yunus, the man who brought a Nobel Prize for Bangladesh, and the most celebrated living Bangladeshi around the globe, was unceremoniously relieved of his duties at Grameen Bank yesterday through a Bangladesh Bank letter.
The central bank said Yunus failed to seek its approval when he was reappointed as the managing director in 2000, violating one of the statutes of the partly state-owned (25 percent) Grameen Bank. Now 11 years later the central bank suddenly woke up to the issue and hurried to

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Micro-credit borrowers baffled

Prof Muhammad Yunus’ removal from the post of Grameen Bank’s managing director surprised many of its borrowers, who dubbed him the pathfinder in elevating them from poverty.
Ayesha Khatun of Noorpur in Pabna took a Tk 130,000 loan from Grameen Bank on November 10, 2009 to help her son run a computer

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Unfair, ominous

Say economists, Yunus admirers; US embassy ‘deeply troubled’ by move
Economists with huge policy-making experience denounced the way the government decided to remove Prof Muhammad Yunus from the Nobel Prize winning Grameen Bank.
Prof Wahiduddin Mahmud, Dr Hossain Zillur Rahman, and Dr Debapriya Bhattacharya said the move will send a negative signal to the country’s microcredit

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Yunus removal seen as harassment move

Economists, rights activists and jurists saw the removal of Muhammad Yunus from Grameen Bank as a move to harass an individual instead of bringing remedy to people’s sufferings caused by the much-hyped micro credit.
Jahangirnagar University’s economics teacher Anu Muhammad said that the government’s

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Banker to the Poor captivates world

Professor Muhammad Yunus began his Grameen Bank Project in Jobra, a village near Chittagong University, his then workstation, in the port city in 1976 in an effort to reverse conventional banking practice and take financial services to the deprived.
His first project was lending his own money to the destitute basket-weavers. The idea

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