Dhaka: The removal of Grameen founder Muhammad Yunus has not helped the country's image, Bangladesh Finance Minister A.M.A. Muhith has admitted.
Muhith said removing Yunus from his position of managing director of the Grameen Bank had not helped the image of the country but the government had no other option, according to New Age Friday.
Muhith was talking to newspersons after meeting diplomats where he told them about the rationale for the government's action.
He said Yunus had refused to step down in the face of several formal and informal requests and that the government had "no choice".
The minister said the government had only enforced the rules applicable to other banks. Bangladesh Bank had notified that Yunus had ceased to be managing director of Grameen Bank as per rules that required him to step down in 1999.
He was asked by foreign envoys why the government had "woken up" to enforce the rules after 11 years, the media report said.
The minister said that Yunus had "refused to step down" despite being personally asked by him.
First Published: Friday, March 04, 2011, 13:38