Nobel Peace Prize Winner Fired in Bangladesh

Mihai-Silviu Chirila

Written by Mihai-Silviu Chirila on March 2nd 2011
Posted in: World News
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Nobel Peace Prize Winner Fired in Bangladesh

Muhammad Yunus (nobelprize.org)

Central bank of Bangladesh fired Nobel Peace Prize winner Muhammad Yunus, managing director of Grameen Bank, a bank he founded 30 years ago, for allegations related to “irregularities” committed in the operations of the bank.

Yunus, 70, has been praised at home and elsewhere for being one of the best campaigners against poverty.

His dismissal comes at the end of an increasingly campaign led by Sheikh Hasina’s government for the last past months directed against the Nobel Prize winner.

Nobel Peace Prize Winner Fired in Bangladesh

Muhammad Yunus (nobelprize.org)

It is expected that this gesture should prejudice the poor of the country and have “terrible consequences” on their lives.

Another attempt to oust him had been made on Monday during the board meeting of Grameen Bank.

The motive was that he had broken the local law by demanding mandatory retirement at 60 years.

It is expected that the bid to sack Yunus from office will be rejected by the board of the bank and that it may take it to courts.

The reason that seems to be underlying the claim to oust him was his age. The minister of finance has accused him of being “too old.”

Supporters of Yunus said that the government wants to take control of the project that could have major political impact of lending through the bank money to the most deprived of the country.

The Grameen Bank, who lends more than 8 million families in the country, has a 25% stake from the government, and is immensely popular.11


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2014-08-01 05:44:25