Bangladesh sacks Nobel winner Yunus | world | Hindustan Times
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Bangladesh sacks Nobel winner Yunus

Nobel laureate Mohammed Younus, a celebrated pioneer of micro-finance was on Wednesday forced out from the Grameen Bank, he founded nearly three decades ago, amid a growing spat with the Bangladesh government, officials said.

world Updated: Mar 02, 2011 23:35 IST

Nobel laureate Mohammed Younus, a celebrated pioneer of micro-finance was on Wednesday forced out from the Grameen Bank, he founded nearly three decades ago, amid a growing spat with the Bangladesh government, officials said.

Yunus was relieved of his duties as Managing Director of the Grameen Bank, a central bank official said. “We have sent a letter to him (Yunus) containing the Bangladesh Bank decision.” he said.

The exit of the Nobel laureate came after accusations that he had violated country’s retirement law. But Grameen Bank contested the claim and said it was seeking legal advice and Yunus would continue to hold the post.

The micro-financiers’ firing caps a running battle with the government of Prime Minister Sheikh Hasina in recent months, during which he has faced a defamation suit by a local politician alleging that he misappropriated Norwegian development funds.

Hasina and Yunus recently had a verbal dual when he suggested that he should form his own political party. Following which, Hasina accused Yunus of treating the Grameen Bank as his personal property and claimed that the group “was sucking blood from the poor”.