Nobel Laureate for Peace Prof. Yunus has been sacked from Grameen Bank

Nobel Laureate for Peace Prof. Yunus has been sacked from Grameen Bank

(Scoop news) Dhaka, March 2- Prof. Muhammad Yunus, an ex- Professor of Economics for brief period and later the Nobel Laureate in Peace for his “contribution in economy” has finally been “sacked” by Bangladesh Government from his long occupied position as the Managing Director of Grameen Bank as already he crossed the highest age of 65 years permitted for similar positions by Bangladesh law before 5 years. He is now in his 71 years of certificate age and from the inception of the Grameen Bank, he was positioned as the “solely empowered” Managing Director!
The central regulatory authority of Bangladesh, Bangladesh Central Bank has issued the mentioned order on Wednesday, 3rd March.
The Deputy General Manager (Protocol Division) of Bangladesh Central Bank, Mr. A.F.M. Asaduzzaman informed about the order to the media. In its letter, Bangladesh Bank said: "Since the reappointment of Prof Muhammad Yunus was made without taking approval of the Bangladesh Bank, in line with Section 14 (1) of the Grameen Bank Ordinance-1983, it is not legal for him [Prof Muhammad Yunus] to hold the position of managing director of Grameen Bank and perform duties in this capacity."
The Section 14(1) of the bank says, "There shall be a managing director of the bank, who shall be appointed by the board with prior approval of the Bangladesh Bank."
"So, for violating Section 14 (1) of Grameen Bank Ordinance-1983, Prof Yunus has been relieved from the position of managing director of Grameen Bank," it added.
Prof. Muhammad Yunus was in the position since the inception of the Bank in 1983.
In an earlier statement, Bangladesh Finance Minister A.M.A. Muhit appealed Prof. Muhammad Yunus to quit the position honoring the law of the country regarding the age limit and other discrepancies. 
A documentary film telecasted in December 2010 at Norwegian Television in which strong allegations were made against Grameen bank for its illegal transfer of large amount of donor money worth Bangladeshi Tk 3,917 million to Prof. Muhammad Yunus’s another organization named Grameen Kalyan which has no relation with poverty alleviation activities as it was claimed before by Prof. Muhammad Yunus.
After the telecasts of that documentary film “trapping the poor with micro-credit”, widespread criticisms have been continuing in Bangladesh and abroad against Grameen Bank and its handling by Prof. Muhammad Yunus. Bangladesh Prime Mister Sheikh Hasina also criticized different “bad practices” revealed within the Grameen Bank through inquiries made so far. BD Government already formed formal inquiry committee for the mentioned issue to dig the total.

There is rumor in the country that during last caretaker period; Mr. Fakhruddin Ahmed was made Chief Adviser in the prescription of Prof. Muhammad Yunus. Prof. Muhammad Yunus tried to make a political party at that vacuum period by criticizing the national politicians in bitter languages and it was assumed at the time, he might try to be the Prime Minister if could be succeeded to gain popular support which he failed to get ultimately despite having very strong international lobby!