Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Bangladeshi microfinance chief dismissal upheld

Ap
Tuesday 08 March 2011 20:00 EST
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

A Bangladeshi court has upheld the government's dismissal of the Nobel laureate Muhammad Yunus from the microfinance bank he founded to lift many out of poverty.

Professor Yunus will appeal to the country's highest court, the last legal option he has to retain the post he has held at Grameen Bank for nearly 30 years. His lawyer said the appeal would be filed today.

Last week, the central bank ordered Professor Yunus, 71, out of Grameen, saying he was violating retirement laws.

Grameen said Professor Yunus would remain while the bank fought the order. But Attorney General Mahbubey Alam said he must step down during the appeals process.

"We have received the ruling, and we hope Grameen operations will not be affected in any way," a spokesman for the bank said.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in