Court rejects Muhammad Yunus’s petition (Lead)
March 8th, 2011 - 4:56 pm ICT by IANSDhaka, March 8 (IANS) The High Court Tuesday rejected Nobel Laureate Muhammad Yunus’s petition challenging the legality of his removal as managing director of Grameen Bank that he founded three decades ago.
Yunus had challenged an order of Bangladesh Bank, the country’s central bank, “removing” him as managing director (MD) of Grameen Bank.
A bench of Justice Momtaz Uddin Ahmed and Justice Gobinda Chandra Tagore passed the order after a three-day hearing, Star Online reported.
The court also said that Yunus serving as MD of Grameen Bank over the last 10 years was illegal and accepted the explanation Bangladesh Bank mentioned in its letter that relieved Yunus from the microcredit organisation.
Yunus’s removal hit international headlines last week as foreign governments, including the US, protested the manner of his removal.
Yunus pioneered Grameen, a new concept for microcredit for rural women that has been replicated in many countries across the world. He won the 2005 Nobel Peace Prize.
- Yunus loses appeal against ouster from Grameen Bank (Second Lead) - Mar 08, 2011
- Yunus moves apex court against removal from Grameen Bank - Mar 09, 2011
- Dhaka court hears petition challenging Yunus' ouster - Mar 06, 2011
- Full bench of Bangladesh apex court to hear Yunus's appeal (Lead) - Mar 09, 2011
- Bangladesh court verdict on Muhammad Yunus plea Sunday - Mar 03, 2011
- Bangladesh's Grameen bank chief Yunus steps down - May 13, 2011
- Yunus's Grameen ouster verdict by Dhaka court Tuesday - Mar 07, 2011
- Bangladesh apex court confirms Yunus removal from Grameen Bank (Second Lead) - Apr 05, 2011
- Bangladesh apex court dismisses Grameen, Yunus appeals - May 05, 2011
- Nobel laureate Yunus loses Bangladesh court appeal - Apr 05, 2011
- Bangladesh court adjourns Yunus hearing till April 4 - Mar 29, 2011
- Apex court confirms Yunus removal from Grameen Bank (Lead) - Apr 05, 2011
- Bangladesh forms panel on Grameen Bank - May 16, 2012
- Grameen Yunus's petition hearing put off for two weeks - Mar 15, 2011
- Bangladesh apex court dismisses Grameen, Yunus appeals (Lead) - May 05, 2011
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