Order on Yunus’ petition Sunday; Nobel hero wants a ‘graceful solution’ to his departure from Grameen Professor Muhammad Yunus yesterday went to court challenging the central bank order that removed him from the post of managing director of Grameen Bank, while the wider international community showed its displeasure at the way the Nobel prize winner ... Read more
yunus
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 ... Read more
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 ... Read more
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 ... Read more
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 ... Read more
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
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 ... Read more
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
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
Govt in a fix over how to sack Yunus
Govt in a fix over how to sack Yunus David Bergman and Abdullah Juberee The Bangladesh Bank, the finance ministry and the law ministry are in disagreement with each other about how to sack Muhammad Yunus from his position as managing director of the Grameen Bank. The finance ministry, following advice it received from the ... Read more
Yunus issue a legal matter, says Muhith
The scheduled meeting between the Finance Minister Abul Mal Abdul Muhith and Noble laureate Prof Muhammad Yunus reportedly over his continuity as Managing Director of Grameen Bank has been deferred by a couple of days due to the visit of Princess Anne to Bangladesh. The Finance Minister told The Independent Tuesday that he will talk ... Read more
Yunus beyond legal age limit
BB Letter To Finance Ministry Yunus beyond legal age limit Grameen Bank chairman presents it at board meeting The chairman of Grameen Bank yesterday presented a letter at a board meeting that questioned the post of Professor Muhammad Yunus as its managing director beyond his retirement age. The letter was written by a Bangladesh Bank ... Read more
US asks govt not to harass Yunus
David Bergman US officials have told Sheikh Hasina that there will be no further high-level diplomatic interaction between the United States and Bangladesh until the harassment of Muhammad Yunus, founder of the Grameen Bank, ends. A senior western diplomat, with direct knowledge of these conversations, told New Age that
13 eminent citizens stand for Yunus
Thirteen eminent citizens of the country yesterday said that Nobel Laureate Muhammad Yunus is being harassed in various ways. In a joint statement they said Yunus is facing malicious personal attacks for his position and hence being subject of different allegations
Yunus slates ‘loan shark’ microlenders
Nobel laureate Muhammad Yunus has labelled profit-driven microfinance firms as ‘loan sharks’ who undermine the small-credit schemes that he pioneered to help tackle poverty. Yunus, who won the Nobel Peace Prize in 2006 for making loans available to poor entrepreneurs, hit out at the commercial microfinance companies as the concept faces
Huge support for Yunus
Former Irish president Mary Robinson has joined the development partners, prominent personalities and corporations in vowing to protect Nobel Laureate Muhammad Yunus from “politically orchestrated” attacks. As many as 50 charities and public figures, including James Wolfensohn, former World Bank president, Jagdish Sharan Verma, former Chief Justice of India, and Yeardley Smith, a
Nobel committee lends support to Yunus again
Norwegian Nobel Committee has recently said it had awarded Prof Muhammad Yunus and Grameen Bank the peace prize in 2006 after it pieced their “larger and very positive picture together”. “When a bank has 7-8 million borrowers, it is easy to find isolated negative examples. It was only when the Committee had pieced this larger ... Read more
Yunus signs clothing deal with French company
Yunus Centre and ID Group, a French company, yesterday signed a deal to produce functional clothing for children of 0-5 years under social business in Bangladesh. The business will also provide technical training to the rural poor and generate employment. It plans to start production by the