Yunus moves apex court against removal from Grameen Bank
Last Updated: Wednesday, March 09, 2011, 22:11
Dhaka: Bangladeshi Nobel Laureate Muhammad Yunus Wednesday filed a petition in the Supreme Court to seek a stay on the high court judgment upholding his dismissal as Grameen Bank managing director.

Yunus' lawyer filed the petition with the Appellate Division of the Supreme Court Wednesday, a day after a two judge high court bench said that his continuance as managing director after 1999 was illegal,, a news website reported.

The bench of justices Muhammed Mamtaz Uddin Ahmed and Gobinda Chandra Tagore Tuesday dismissed two writ petitions - one filed by Yunus and the other by nine directors of the bank - against the March 2 order of Bangladesh Bank, the country's central bank, removing Yunus. It observed that the Grameen Bank founder had been re-appointed improperly.

Grameen, the micro-credit bank for rural women, has been replicated in many countries across the world.

Yunus and the bank jointly won the 2006 Nobel Peace Prize.

Yunus's removal led to protests at home and abroad.


First Published: Wednesday, March 09, 2011, 22:11

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