A Bangladeshi commission has proposed the government takeover or split the Nobel-award-winning Grameen Bank into 19 parts, sparking criticism with several analysts fearing it to be a systematic move to destroy the pioneering micro lending agency.
Yunus, 70, said he was relinquishing his post to prevent undue disruption of the bank's work.
"The MD of the Grameen Bank is an official who cannot hold the office for an unlimited period," said the High Court.
Nobel laureate Muhammad Yunus enjoys great respect in the US for all of his work to help the poor in Bangladesh.
Bangladesh Central Bank in an order on March 2 removed Dr Muhammad Yunus as head of the bank, which he founded, citing that he had violated country's retirement age.
Nobel peace prize winner Muhammad Yunus, who has been ousted as Grameen Bank managing director, tells Business Standard he hopes the bank continues to be run by the poor of Bangladesh.
The Lucknow police have uncovered a cheating racket that mimicked the style of exam fraud seen in the first Munnabhai film, where real candidates were replaced by professional impersonators to sit for competitive exams.
Sporadic violence erupts across Bangladesh as the nation awaits a special tribunal verdict against former Prime Minister Sheikh Hasina in a case of alleged crimes against humanity. Security is heightened, and authorities are on high alert.
'There is no substantive basis for Bangladesh-Pakistan relations. The only real link they can have is mischief, with Pakistan's intelligence agency using Bangladesh to create trouble along our eastern borders.'
The reduction in the number of loan accounts and the outstanding amount during the last financial year is a cause of concern and stress for microfinance institutions (MFI), Secretary, Department of Financial Services, M Nagaraju said on Thursday, highlighting "inefficiency" in MFIs that leads to higher rates of interest.
A day after he was sacked as the chief of the Grameen Bank, Nobel Laureate Professor Muhammad Yunus on Thursday challenged his removal in the High Court.
Muhammad Yunus proved that he was neither an armchair economist nor a slogan mongering political activist, but a doer destined to do what Mahatma Gandhi said -- to remove every tear from every eye, recalls Rup Narayan Das.
Muhammad Yunus on Thursday promised to deliver a government which assures safety to its citizens, as the Nobel laureate returned to the protest-torn Bangladesh from Paris to take oath as the head of the interim government following the ouster of Sheikh Hasina.
Bangladesh descended into chaos on Monday as Prime Minister Sheikh Hasina surreptitiously resigned and fled the country in a military aircraft while the Army stepped in to fill the power vacuum.
Life has come full circle for Nobel laureate Professor Mohammad Yunus, who faced persecution during Sheikh Hasina's regime for embezzlement, is now all set to head of the interim government in Bangladesh after she resigned and fled the country.
The Pradhan Mantri Awas Yojana-Grameen has the highest unutilised amount (Rs 13,111 crore) compared to any other centrally sponsored scheme.
Yunus, 84, was administered the oath of office by President Mohammed Shahabuddin at a ceremony at the presidential palace 'Bangabhaban'.
Designing smart finance products for the underprivileged, could yield rich career dividends
Nobel Peace Prize laureate and economist Muhammad Yunus has urged the World Bank to reform its policies, saying the development lender has failed to achieve its main goal of eradicating poverty because of its failure to modernise anti-poverty lending programmes.
Inaugurating the Grameen Bharat Mahotsav, the Prime Minister exuded confidence that villages will play a key role in pushing forward the dream of Viksit Bharat by 2047.
Bangladesh's ousted Prime Minister Sheikh Hasina has launched a scathing attack on the interim administration, accusing Chief Adviser Muhammad Yunus of running a "fascist regime" that persecutes minorities and allows terrorists to operate freely. Hasina, who is currently in India, made the remarks in a virtual address to overseas Awami League supporters, vowing to bring Yunus and his allies to justice for alleged atrocities. Her comments come ahead of a visit by India's Foreign Secretary to Dhaka, where he is expected to raise concerns about the safety of minorities in Bangladesh.
Nobel Laureate and chief architect of Grameen Bank Muhammad Yunus of Bangladesh had 45-minute meeting with Congress MP Rahul Gandhi in New Delhi on Wednesday during which the two discussed micro-financing activity in Bangladesh and India.
Muhammad Yunus is the 66-year-old Bangladeshi behind the Grameen Movement micro-banking system.
Norway on Wednesday gave a clean chit to Grameen Bank founder Muhammad Yunus, saying it found no evidence of donor fund embezzlement by his bank, removing a cloud that had hovered over the Nobel Laureate.
Yunus in his 26-minute speech did not give any deadline for the tenure of his interim government but acknowledged that "everyone is interested to know when our government will leave".
The appellate division of the Supreme Court adjourned for two weeks the hearing on two appeals filed against a high court judgement that upheld a Bangladesh Bank order removing Yunus from the office of managing director of Grameen Bank.
Nobel Laureate Muhammad Yunus has welcomed Prime Minister Sheikh Hasina's call for an investigation into allegations that he channelled foreign aid meant for the Grameen Bank to another company.
Bangladeshi Nobel laureate Muhammad Yunus has been accused of stashing some $100 million originally for microcredit operations of his Grameen Bank to his another venture in 1996, breaching agreements with donors and violating the country's financial rules.
The company has started a pilot project on micro-finance in partnership with Grameen Bank of Bangladesh.
Yunus appeared in Food Court of Dhaka City Corporation over allegations that a sister concern of his Grameen Bank marketed contaminated yoghurt in market, officials said.
Race for Asia's No. 1 MFI spot: Bandhan now closes in on Grameen Bank
Nobel Laureate Muhammad Yunus, founder of the micro-credit pioneer Grameen Bank in Bangladesh, hit out at banks on Friday for not providing loans to the poor and disadvantaged.
Share prices of Nestle India, Asian Paints, Bandhan Bank, Tata Technologies, AU Small Finance Bank and Avenue Supermarts, all a part of the BSE 500 index, have hit their respective 52-week lows on the BSE in Thursday's intra-day trade after a sharp correction in the equity markets.
The other members of the interim government will be finalised after consultations with various political parties, the press secretary added.
Moreover, the process to release those arrested between July 1 to August has started, and many have already been released, it added.
The Nobel laureate filed an application before the High Court.
Nobel Laureate Muhammad Yunus, whose experiment of poor men's banking in Bangladesh helped establish micro-credit movement across the developing world, will address the Indian Parliament in December this year.
Chintan, an Indian NGO has been chosen for America's first Innovation Award for the Empowerment of Women and Girls.
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