Yunus takes up legal cudgels

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.

Updated on: Mar 4, 2011, 01:33:19 IST

PTI | By HT Correspondent, Dhaka

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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.

“We have filed a writ petition against the Bangladesh Bank order relieving him from the post of Managing Director of the Grameen Bank,” his lawyer said.

A two-member High Court bench will take up the case later on Thursday.

Bangladesh Central Bank in an order on Wednesday removed Yunus, a celebrated micro-financier as head of the Grameen Bank, which he founded, citing that he had violated country’s retirement age.

The government owns 25% stake in the Grameen Bank, while the rest is held by borrowers. A leading Supreme Court lawyer Kamal Hossain would appear on behalf of the 70-year old Yunus.

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