Yunus axed as Grameen Bank chief

Mar 03, 2011 |

Reuters

Dhaka

Bangladesh’s central bank said Wednesday it had removed Nobel laureate Muhammad Yunus from the post of managing director of microlender Grameen Bank, following allegations of irregularities in its operations. “We delivered a letter to Grameen Bank that Muhammad Yunus has been removed,” said central bank spokesman A.F.M. Asaduzzaman.

Mr Yunus, 70, set up Grameen Bank and has been its MD since 2000. He has been under attack from the government since 2010 after a Norwegian documentary alleged the bank was dodging taxes. —Reuters

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