Grameen stakeholders should protest, says Yunus
May 18th, 2011 - 12:31 pm ICT by IANS
Dhaka, May 18 (IANS) Predicting difficult times ahead, Bangladesh rural credit pioneer Muhammad Yunus has asked shareholders of the Grameen Bank to protest against any attempt to “take away” the bank.
Yunus, who resigned after he lost three court battles against his removal from the post of the bank’s managing director, told shareholders - recipients of the credit - to be vigilant and asked them “not to remain silent”.
The letter, addressed to shareholders and released Tuesday, came amid “widespread speculation that his removal was part of a coordinated government ploy to take the full control of the bank”, The Daily Star said.
“Grameen Bank is a priceless wealth for you. Do not give away this to anyone. You are the owners of this bank. Do not let go of this ownership,” Yunus said.
“If anyone speaks about taking away the ownership of Grameen Bank, if anyone speaks against your bank, then you must protest against it…. If you remain silent, the bank will be taken away from your possession,” he said.
The government effectively has only 3.29 percent share in terms of paid-up capital and the borrowers own the rest.
Yunus said the members of the microcredit agency are set to face tough time following his departure from the bank he founded three decades ago.
“Soon you will be put under difficult tests. You must prepare yourself from now on to come out successfully from these tests. If you are able to protect this bank, then your children and descendants will be benefited from its wealth.”
Bangladesh Bank, the country’s central bank, removed Yunus, saying his continuance as managing director was “illegal” since he is 71 years old.
Prime Minister Sheikh Hasina has told foreign governments and eminent personalities who formed “Friends of Grameen” body earlier this year that it was not interested in controlling the bank.
Yunus and the bank that he founded were jointly awarded the Nobel Peace Prize in 2006.
- French president supports Grameen's Yunus - Apr 06, 2011
- Bangladesh forms panel on Grameen Bank - May 16, 2012
- Court rejects Muhammad Yunus's petition (Lead) - Mar 08, 2011
- Yunus remains Grameen Bank chief despite court verdicts - May 07, 2011
- Yunus loses appeal against ouster from Grameen Bank (Second Lead) - Mar 08, 2011
- Bangladesh apex court confirms Yunus removal from Grameen Bank (Second Lead) - Apr 05, 2011
- Bangladesh's Grameen bank chief Yunus steps down - May 13, 2011
- Yunus moves apex court against removal from Grameen Bank - Mar 09, 2011
- Bangladesh's microcredit pioneer Yunus always spoke for poor (With Yunus loses appeal against ouster from Grameen Bank) - Mar 08, 2011
- 'Charges against Muhammad Yunus politically motivated' - Feb 18, 2011
- Grameen Yunus's petition hearing put off for two weeks - Mar 15, 2011
- Dhaka court hears petition challenging Yunus' ouster - Mar 06, 2011
- Bangladesh apex court dismisses Grameen, Yunus appeals - May 05, 2011
- India's ex-judge, Grameen supporters rally behind Yunus - Feb 24, 2011
- Apex court confirms Yunus removal from Grameen Bank (Lead) - Apr 05, 2011
Tags: bangladesh bank, borrowers, continuance, court battles, daily star, descendants, dhaka, difficult times, eminent personalities, grameen bank, managing director, minister sheikh hasina, muhammad yunus, nobel peace prize, ploy, s central, shareholders, speculation, stakeholders, three decades