The founder of the revolutionary micro-capital Grameen Bank has been removed from position of managing director:
Nobel laureate Muhammad Yunus has lost his final appeal in Bangladesh’s Supreme Court against his sacking from the Grameen micro-finance bank he founded.
The court upheld the decision by the central bank to remove him from office.
The bank said Professor Yunus had been improperly appointed while past retirement age.
But Professor Yunus said the attempt to remove him from the bank had been politically motivated.
The Grameen Bank has pioneered micro-lending to the poor by giving small loans to millions of borrowers.
