Bangladesh’s Nobel laureate Mohammad Yunus has been ordered to step down as head of the miceofinance Grameen Band he founded following a long-running dispute with the country’s prime minister Sheikh Hasina.
Bangladesh’s central band who argued that he violated the country’s retirement laws by staying on past the mandatory retirement age of 60 by the 70 years old was ordered out.
Who said it was taking legal advice at that Prof Yunus remains at the helm his removal was yesterday disputed by Grameen.
November last year Professor Yunus has been locked in a dispute with the government when documentary claimed he had misused aid funds from Norwegian government.
The Bangladesh government pressed on with an inquiry into the running of the bank because Oslo’s aid minister later issued a statement denying there had been any wrongdoing.
Miss Hasina in December said Grameen Bank has been’’ sucking money out of the people after giving them loan.’’
Prof Yunus sparked an international campaign to protect its independence the government’s hostility and the Nobel-winner’s stewardship, against what it regarded as an attempted government takeover.
His allies include Bill Clinton, the former US president.
Dhaka according to diplomats. Professor Yunus’s international standing and his bride flirtation with a political career in 2007 had angered Miss Hasina.
1983 its creation, Grameen has given loans to millions of some of the world’s poorest people, and today has more than eight million borrowers and every year gives $1 billion in loans.
2006 Prof Yunus was awarded the Nobel Prize for his work.
Managing director yesterday Grameen said it had “ complied with the law in respect of appointment.
The bank’s according to legal advisers, the founder of Grameen bank, Professor Muhammad Yunus Nobel laureate is accordingly continuing in his office, it added.
Prof Yunus last month told the Sunday Telegraph he feared a government takeover could lead to political misuse of the bank’s funds and a crisis of confidence among the bank’s eight million lenders and savers. He was not against standing down, but the government would respect the bank’s independence first wanted assurances that.
Post a Comment
0Comments