Grameen Bank case: Bangladesh Supreme Court to hear Yunus appeal
March 15th, 2011 - 4:19 pm ICT by ANIDhaka, Mar.15 (ANI): The Bangladesh Supreme Court is likely to hear an appeal of Nobel Laureate Muhammad Yunus against a High Court decision to uphold his removal as the chairperson of microlender Grameen Bank.
Yunus, 70, was removed as the head of Grameen Bank on grounds that he had past the legal retirement age of 60.
However, accoding to his supporters, government’s effort to remove him has very little to do with his age, but more to do with polictics.
Yunus recently said in an interview that his main priority was to maintain the stability of the Bank that has over eight million borrowers, most of them rural women.
“The important thing for Grameen Bank right now is transition so that the bank continues to function smoothly without any kind of shock or uncomfortable feeling about it. That’s what we should be concentrating on,” The BBC quoted him, as saying.
Yunus found the Grameen Bank three decades ago, with the idea of provising loans to poor people who do not qualify for standard bank loans. He received the Nobel Peace Prize in 2006, for his efforts. (ANI)
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- 'Charges against Muhammad Yunus politically motivated' - Feb 18, 2011
- Apex court confirms Yunus removal from Grameen Bank (Lead) - Apr 05, 2011
- Court rejects Muhammad Yunus's petition (Lead) - Mar 08, 2011
- Full bench of Bangladesh apex court to hear Yunus's appeal (Lead) - Mar 09, 2011
Tags: bangladesh, bank loans, bbc, borrowers, chairperson, court decision, grameen bank, muhammad yunus, nobel laureate, nobel peace prize, priority, retirement age, rural women, shock, supreme court, three decades, transition