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In Bangladesh, the supreme court has dismissed a final attempt by microcredit pioneer Muhammad Yunus to challenge his sacking as head of Grameen Bank, which he founded three decades ago.
After a brief hearing, a seven-member bench of the supreme court dismissed two petitions seeking to overturn the sacking of Muhammad Yunus as head of Grameen Bank. The petitions had been filed by Yunus and nine directors of the bank.
Tuesday’s order ends a two-month legal battle by the Nobel laureate to save his job as head of the institution which extends tiny loans to poor people.
Age discrimination?
Yunus, 70, was dismissed for staying past the retirement age of 60. His supporters believe he was politically targeted for briefly trying to start his own political party in 2007.
The debate in Bangladesh is now moving to how the controversy will impact the work for which Yunus won international acclaim and a Nobel prize in 2006. His concept of microfinance is credited with helping millions of poor people in Bangladesh and other parts of the world.