Nobel winner Yunus removed as Grameen Bank MD

Bangladesh's central bank said on 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.

March 03, 2011 / 15:37 IST

Bangladesh's central bank said on 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.

The central bank deputy governor who told Reuters Yunus had been removed did not want to be identified.

Yunus, 70, set up Grameen Bank and has been its managing director since 2000. Lauded abroad by politicians and financiers, he has been under attack from the government of Prime Minister Sheikh Hasina since late last year, after a Norwegian documentary alleged Grameen Bank was dodging taxes.

Yunus had denied any financial irregularities.

By: Madhav Chanchani

first published: Mar 2, 2011 05:53 pm

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