Yunus remains Grameen Bank chief despite court verdicts
May 7th, 2011 - 5:11 pm ICT by IANSDhaka, May 7 (IANS) Nobel laureate Muhammad Yunus is still the chief of Grameen Bank and will continue to be so until the bank’s board of directors appoints a new managing director, his lawyer has said.
This is despite three consecutive verdicts by the high court and the supreme court upholding his removal by Bangladesh Bank, the country’s central bank.
The lawyer’s statement came Saturday after the Supreme Court affirmed a High Court verdict on two petitions, one by Yunus and the other by nine directors of Grameen.
Following the verdict, Attorney General Mahbubey Alam, the highest law officer of the government, said Yunus cannot continue as the bank’s chief.
However, one of the women directors of the bank, demanded that Yunus be made chairman of the bank, the micro-credit lender that he founded three decades ago.
Noted economist Debopriyo Bhattacharya of the Centre for Policy Dialogue has urged that Yunus be retained with the bank “in advisory capacity”.
Bangladesh Bank removed the Nobel Laureate from the top post through a letter March 2, asking Grameen Bank’s board of directors to take steps to that end, Yunus lawyer Rokanuddin Mahmud told the media.
A person has to remain in an office out of necessity until a successor is appointed. It is not the case that Yunus has to go right away, he has to hand over the charge to someone, Rokanuddin explained.
He added that the Bangladesh Bank letter also does not mention that Yunus must leave right away.
- Yunus loses appeal against ouster from Grameen Bank (Second Lead) - Mar 08, 2011
- Bangladesh Supreme Court to hear Yunus' plea Tuesday - Apr 04, 2011
- Full bench of Bangladesh apex court to hear Yunus's appeal (Lead) - Mar 09, 2011
- Bangladesh apex court confirms Yunus removal from Grameen Bank (Second Lead) - Apr 05, 2011
- Yunus moves apex court against removal from Grameen Bank - Mar 09, 2011
- Nobel laureate Yunus loses Bangladesh court appeal - Apr 05, 2011
- Bangladesh's Grameen bank chief Yunus steps down - May 13, 2011
- Bangladesh court adjourns Yunus hearing till April 4 - Mar 29, 2011
- Grameen Yunus's petition hearing put off for two weeks - Mar 15, 2011
- Yunus's Grameen ouster verdict by Dhaka court Tuesday - Mar 07, 2011
- Court rejects Muhammad Yunus's petition (Lead) - Mar 08, 2011
- Bangladesh apex court dismisses Grameen, Yunus appeals (Lead) - May 05, 2011
- Bangladesh government announces new Grameen Bank chief - May 12, 2011
- France takes up Yunus case with Bangladesh - Apr 25, 2011
- Bangladesh apex court dismisses Grameen, Yunus appeals - May 05, 2011
Tags: advisory capacity, bangladesh bank, bank chief, bhattacharya, board of directors, court verdict, credit lender, economist, grameen bank, lawyer, managing director, micro credit, muhammad yunus, nobel laureate, petitions, policy dialogue, s board, s central, three decades, women directors