In the post-implosion analysis of the microfinance sector in Andhra Pradesh, one entity came out virtually unscathed"the idea that microfinance is basically a force for good. The argument was that microfinance has the potential to alleviate poverty and empower people, and the real problem is with a few unscrupulous or greedy microfinance organisations. The solution therefore was better regulations"such as capping the interest rates and increasing transparency. Muhammad Yunus, founder...
11:04 AM, Feb 15, 2012
Davos: Nobel laureate Muhammad Yunus on Sunday blamed the education system for driving the young to be very mundane and detracting them from pursuing social objectives. Speaking at the World Economic Forum, he said that money is now the king, becoming an "intoxication in the system". "We don't have in our education system that vision which directs what we want to be, what we want to see the world to...
08:19 PM, Jan 29, 2012
Dhaka: Ending a standoff with the Bangladesh government, Nobel Laureate Muhammad Yunus has resigned as the managing director of Grameen Bank, saying the he is quitting to prevent "undue disruption" in the working of the pioneering micro-lending agency he founded. Yunus's resignation came as he lost his final legal battle in the apex court to thwart a Bangladesh Bank decision removing him from the position on March 2. Deputy Managing...
03:29 PM, May 13, 2011
Dhaka: A Bangladesh government probe cleared micro-lender Grameen Bank of financial irregularities, the finance minister said on Monday, but the finding will not change the decision to fire Nobel laureate Muhammad Yunus. Yunus, 70, was dismissed by a central bank order - upheld by the High Court and Supreme Court - on the grounds that he had overstayed in his position and refused requests to quit. Yunus, winner of the...
05:47 PM, Apr 25, 2011
Dhaka: Bangladesh's highest court rejected on Tuesday an appeal by Nobel laureate Muhammad Yunus against his dismissal as managing director of Grameen Bank, the microlender he founded, lawyers said. Associates say Yunus's removal is prompted by government vendetta after he briefly considered a political career to challenge Prime Minister Sheikh Hasina. Yunus, 70, made the plea last month after the country's high court upheld a central bank order dismissing him...
04:46 PM, Apr 05, 2011
Dhaka: In a major setback to Nobel laureate Muhammad Yunus, the Bangladesh High Court on Tuesday upheld his dismissal from the Grameen Bank he founded nearly three decades ago. The petitions by 70-year-old Yunus challenging legality of a Central Bank order removing him as Managing Director of the Grameen Bank "are rejected," said justice Momtaz Uddin Ahmed, the senior member of a two-judge bench which delivered a lengthy judgement after...
03:41 PM, Mar 08, 2011
Dhaka: A Bangladeshi court on Monday reserved its judgment on a petition by Nobel laureate Muhammad Yunus, locked in a bitter legal battle with the government over his sacking from the Grameen Bank, as his lawyers expressed frustration over 'delay' in the ruling. The High Court is expected to pass an order on Sunday on Yunus' petition challenging the legality of a central bank order removing him as Managing Director...
07:04 PM, Mar 07, 2011
Dhaka: Bangladesh High Court is expected to deliver its verdict on Monday on a petition by Nobel laureate and micro-financier Muhammad Yunus challenging the legality of a central bank order removing him as the chief of the Grameen Bank. "We would make our submission when the court would reconvene," Bangladesh Attorney General Mahbub-e-Alam said. The two-member bench comprising judges Momtaz Uddin Ahmed and Gobinda Chandra Tagore adjourned the court after...
08:37 AM, Mar 07, 2011
Dhaka: A day after he was sacked as the chief of the Bangladesh's Grameen Bank, Nobel Laureate Muhammad Yunus on Thursday took his battle to the court to overturn the government's decision to remove him from the institution he founded. Yunus petitioned the High Court challenging his sacking after the Bangladeshi Central Bank ordered him out, saying he had overstayed his tenure. Apparently keeping the high-profile nature of the case,...
08:49 PM, Mar 03, 2011
Muhammad Yunus has said he is mentally ready to join politics "if the people and civil society want." ...
08:41 PM, Feb 08, 2007
Amartya Sen suffered from a sudden illness and fainted at a dinner party in Dhaka on Monday. ...
12:57 PM, Dec 26, 2006
The future of South Asia lies in being together, not fighting with each other, says Prof Muhammad Yunus Khan. ...
04:37 PM, Dec 11, 2006
Meet Muhammad Yunus who conceptualised the Grameen Bank as a vehicle to give credit to the very poorest in Bangladesh. ...
11:14 PM, Dec 10, 2006
Muhammad Yunus says world poverty will end if banks and governments stimulate the creative energies of poor people. ...
11:30 AM, Dec 10, 2006
With half its population living below the poverty line, Bangladesh faces an enormous socio-economic challenge. ...
04:37 PM, Nov 11, 2006
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