Afsan Chowdhury
Yunus departs as the Empire strikes back
Muhammad Yunus. Photo: Reuters
It is over for Prof. Yunus at Grameen. Bangladesh Bank has done the papers and his removal is done too. He has been ousted by the government supported by all those who have been baying for his blood for years. This victory will be considered one against Yunus, Grameen Bank and microcredit to boot. It culminates in a triumph of a three-decade-old campaign initiated first by Marxists and Mollahs both seeing credit as a haram, secular or religious. The World Bank had opposed Yunus at that time as well. They were joined over time by a large group of private bankers and those fond of government control amongst others but increasingly by politicians who saw in bringing down Yunus an opportunity to assert their supremacy.
Forty years after 1971, unable to offer anything concrete to the poor, the political empire in the end did strike back sending a message that innovation and initiatives must take a backseat to bureaucratic niceties and official procedures. It is not just the bureaucrats within the government who shall chortle in happiness but within the bank too along several foreign agencies who would much like Bangladeshi development agencies happy to be told what to do. In Grameen Bank itself several small-minded people, hurt because Yunus ignored them once, now can run Grameen forgetting that the man who has the vision to initiate something like Grameen and make it a global brand is fundamentally different than the men who carry out orders no matter how well. But over time, mediocre people often do win and so the day belongs to them now.
* * *
Once the word, âsiphoningâ was used by the Norwegian video on GB â a deliberately misleading product which was embraced greedily by many Bangladeshis because it was made by a Caucasian Westerner, the case was virtually sealed for Yunus. For Bangladeshis, inadequate understanding of English turned âsiphoningâ into a personal criminal act by Yunus, or was it deliberate by BD media as well? What followed was a build up of the âGet Yunusâ movement which received a huge boost at the hands of the government led by Sheikh Hasina and her political minions. Since it couldnât be proven that Yunus had stolen money, it was necessary to go after administrative and management issues which every organisation has, to bring him down. Since what was wanted was his humiliation and departure, it was possible to demonise Yunus with a co-operating government helping on.
* * *
Yet the end of the removal process is comical, with the Bangladesh Bank saying that Yunus had passed the retirement age and so must go. Age was pitted against competence and that too for a man who had established a global institution. I quote what the Bangladesh Bank Governor Atiur Rahman himself had said on microfinance which was reported in Daily Star March 1, 2010, âThe rural and urban poor benefit from the microfinance regulations, with reliable access to microfinance on fair and equitable terms. In Bangladesh, MFIs accounted for financial services to around 24 percent of the adult population, against around 44 percent and 10 percent served by banks and cooperatives respectively in 2008.â He also added that the high interest rates were a serious matter âalbeit more from populist political authorities rather than from the actual borrowersâ
So Yunus was too old to serve though there is no problem with his operations or his outfit according to the BB Governor himself.
* * *
For those who have any confusion, microcredit is a supervised loan giving programme where the money is given without collaterals to group members. It is simply a loan system and the loans are given for economic activity. However, the poor have other needs as well so microcredit supplies credit needs particularly in the rural areas for many things such as marriages, house building etc. Microcredit in one form or other has always existed but Bangladeshi NGOs turned it into a structured service replacing the traditional money lenders.
Those who have any idea can take a micro loan and do business to become better off though the number of how many does do vary. Some become better economically than before and some can protect themselves from becoming poorer the next year which is common in our rural economy. Many fail to pay the loan and the rules of loan collections apply which applies in case of all banks. Grameen is a bank so it functions like one.
* * *
Because microcredit helped many to escape high poverty, it was presented particularly by Yunus as a poverty alleviation model. This is not entirely accurate. Itâs more correct to say that it is one of the tools of any poverty alleviation effort and not a total self sufficient package. However, Bangladeshi economists have always been balanced in their assessment saying it was part of a big package while recognising its contribution. Dr. H Zillur Rahman wrote in 2004 about the role of microcredit:
âIn Bangladesh, the most visible changes have been in reducing the everyday uncertainties of food, livelihoods and shelter for the rural poor. Household incomes have been supplemented and critically extended. With access to liquidity, the ability to cope with crisis and shocks in everyday lives has been strengthened. Spill-over effects on housing, health-care and education have followed.â
âPoverty remains but the experience of poverty is today on a qualitatively different plane. Certainly micro-credit has not been the only factor at work here but whether in terms of researched knowledge or casual observation, one would be hard put to deny its critical contributionâ He has echoed the same thoughts in 2011.
But then are we really interested in evidential reasoning when it comes to this issue?
* * *
Several of my journalist friends have said that Yunus supported the Fakhruddin government so Hasina is after him and Yunus deserves it all as he became cosy with the military-backed caretaker regime and went against politicians. Yunus had also started a political party which was seen as a challenge to the mainstream though it fizzled out due to lack of support.
It would have been wonderful if Yunusâ party had worked out because after 40 years it should be obvious that our politicians âAL, BNP and the armyâ canât deliver much. Which government initiative has even tackled poverty alleviation seriously? A government which canât even provide TB treatment medicines to the affected and has to depend on NGOs to do so is hardly capable of handling any major challenges of poverty.
* * *
As we travel towards post-modernity in underdevelopment this conflict is inevitable as governments and politicians fund themselves less and less able to cope and manage new situations. Since efficiency can no longer be produced by the governments, striking down those it sees as challengers is necessary for surviving longer. By humiliating Yunus, a message on behalf of the ruling elite has been sent out to all to toe the line.
âââââââââ-
Afsan Chowdhury is a journalist and researcher.
Dr.Yunus episode speaks of the nature of Bengali people, best described by Tagore:” sat koti santan’ere a mugdha janani, rekhecho banglee kore, manush koroni”. A typical scenario when one is driven by one’s poorest of instinct. There is universal acceptance of the viability of micro-credit operation, and some criticism of “high interest’ rate. However, there was no recognition of the fact that micro-lending led to high rate of return, frequently above 100%, which is why the outcry of ‘high i/r” was never from the borrowers, but others bewildered. In effect, micro lending operation is like ‘profit sharing’. Micro lending operation has made one more contribution, by way of establishing the fact that stakeholder ownership/operation are virtual guarantor of a successful operation. Learning from micro credit operation, all projects in health, education -at primary/secondary level-, water supply, sanitation etc. should be given to the “Upazillah Parishads” to run -supported by the central authorities.
Dr.Yunus’s contribution belongs to the world. It will be nurtured and even be improved further. He should not lose heart. His full reward will come from his creator to whom he should turn, for fuller and further attainments, faithfully.
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enough..let’s rise and kick out this cycle of dirty politics and those corrupt politicians from Bangladesh
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Whatever is written in favour of or against Dr. Yunus, he is the man who brought us the Noble Prize, which the nation, I feel, never thought of. I hate to think how our leadership forced him to such humiliation.
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Why no one mentioned that rate of interest at Grameen Bank is anywhere from 33 percent to 38 percent, there are no country in the world charge interest at such high a rate. Also, we should also talk about Grameen’s procedure of handling defaulters.
Once I was on a rickshaw and asked him where he was from and how come he was driving a rickshaw, he had a heart-wrenching story to tellâhow his family was kicked out and how everything was taken away. There are a large number of slum dwellers who borrowed money from Grameen and ended up losing everything.
I donât have anything against Dr. Yunus, but am vehemently opposed to the way they carry on with their business. Can any of the journalists carry out investigative reporting on Grameenâs business practice. You will be surprised to see what they did to a lot of people. While the theme was a good one, they did misuse the system to make money off of poor people of this country.
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It is our national character that we always over estimate ourselves as individuals. This is why we have never got national hero like Nelson Mandella or the like. Our “father of the nation” tried to establish his one-man dictatorship rule after independence. This is why he became controversial even after being the greatest national leader of all time. Likewise, our only Nobel Laureate Dr. Yunus thinks his Nobel winning institute would be paralysed in his absence. What a pity! This is simply a reflection of our national characteristic. Dr. Yunus should have left his paid position from GB immediately after winning the Nobel prize to an advisory position.
On the other hand, even though Dr. Yunus has over served GB for 10 years violating some rules set by BB, it must be noted that he has not been appointed to a job by BB. He has built the institution with an ideology and concept that has drawn the attention of the entire world. So simply stepping down from his position as the age bar has been reached and go home with some retirement benefits to live a modest life should not be expected from Dr. Yunus, at least by those who believes GB has affected, good or bad, the life of crores of poor people of Bangladesh. Anyone who thinks Dr. Yunus as a mere individual (dignitary) like the BTRC Chairman or BTCL MD or Bangladesh Bank Governor or even the one who will be the successor of Dr. Yunus at GB is simply a stupid.
The position for Dr. Yunus should have been like that he does not want to be anymore but the nation wants him to contribute some more until anyone parallel to him could be found to run GB. But unfortunately the situation is completely reverse.
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A nice article indeed.
We should raise our voice!!No man and no system is flawless. Step down process should be much more respectful.
Actually we are always extreme player, our govt plays extreme with Dr. Yunus, Our past CG played extreme with corruption, Our PM played extreme with her speeches and our opposition played extreme with power hand over process (2006)and Hartal.
We need a break!!!
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As usual, a great piece of writing by Afsan Chowdhury!
The elite’s anger on Dr Yunus proves that he is on the right track. I would be rather suspicious if he would take salutes and became a domesticated “honourable person” to our elite.
Bangladesh needs to be smart enough to accommodate great people of his height. We should not expect these people to bend their knees to conform to the rules.
If a person older than him can run the finance ministry of the country, who cares about Dr Yunus’s age to conform the rules. The finance minister can satisfy his bureaucratic mind to conform to the rules, but people conscience knows that he has only satisfied the ruling elite.
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Having read the hand written note of Yunus, it is amply clear, Yunus is not only a man of time but also vision.
Yunus has spent time in working while others spent time in talking. Specially these days, we don’t know what to talk but talk only.
I appreciate your write-up.
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People like beneficiaries of Grameen might not be aware of the consiquence of breaking rules, but not a nobel prize winner.
I have my doubts on the motivation of the writer.
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Only happens in Bangladesh.
In developed world including US, they take pride in their national heroes, by inviting them, among others, on a routine basis on national ceremonies to the highest stage of the government, for the sole purpose of national recognition and celebration. In Bangladesh, they only have jealousy towards any success by fellow countrymen! How can we progress as a nation.
I commend Mr. Chowdhury for a superb rational article.
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His this very INNOVATION was also promoted first by Government of Bangladesh and the then finance minister Mr. Muhit. Innovation is much needed but not like Dr. Yunus who is a salesman/negotiator of his own. Moreover his continuation as MD in GB is also adorned by his illegal occupation.
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I donât think, by winning Nobel prize, Dr. Yunus has gotten a blank cheque to do anything and everything. I think the government is taking a right position. If Yunus did the same in USA or UK or EU or Japan, he wouldâve faced the music a long time ago.
Personally, I think Yunus is more dangerous than a mugger. A mugger snatches away money from an individual, Yunus exploited the poor and the poorest people with sweet words.
I am sure, if a proper investigation were carried out, it will reveal many of his misdoings.
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From the legal brief (check it out), Dr. Yunus had informed the GB board in 2010 that he would like to retire – the board did not accept his decision at the time and asked him to stay on. So, he is not power hungry or interested in staying on. Neither does he consider himself above the law – since the law (BB MOU) said that the GB board appoints the MD. This is a matter of principle and of law of the land. The GOB owns less than 5% of the GB with the members owning the rest. Who should appoint the MD?
According to the law it says the GB board with prior approval of BB. Today they are after Dr. Yunus, tomorrow it will be Sir Abed (of BRAC) or someone else who is considered a political threat. The NGOs are by definition private (non governmental) organisations, and despite problems, by and large they have had much graeter positive impact on the poor and the society than the state.
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The main question is what did Bangladesh achieve from âexpellingâ Dr Yunus from Grameen Bank. And also, what did the AL and the media get out of it.
For the last few years, we have seen some politicians and a section of the media (this includes bdnews24.com too) targeting Yunus. Whose interest were they serving?
Look at the reactions all over the world. Will Bangladesh government be able to get rid of the negative image it has generated by ousting Yunus? Will anyone in future be encouraged and willing to take up similar ventures as Dr Yunus did i.e. trying to eradicate poverty?
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What a shame! For a country tottering under crisis, what a pick of an issue! Was Yunus the only one beyond the prescribed age limit in the country at this moment? In a country where we have scant respect for law, what an example to set! I may have no capability to be great, at least I can throw mud at someone else’s greatness!
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Mr. Chowdhury
Brilliant write-up and impeccable interpretation of our all-impportant leaders’ attitude towards our people whom they like to see as their all-time humble subjects.
Three cheers for our feudal democracy!!!
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Thank you Mr Chowdhury for your impartial and thoughtful analysis On Professor Yunus’s contribution. Dr Yunus and the Grameen Bank are prey to the wrath of our politicians (the right word would be Empire!, surely). To support this let me quote from the latest issue of the Economist magazine:
“Fourteen years ago, in Sheikh Hasinaâs first term of office the situation could not have been more different. In February 1997, as co-chair of the Micro credit Summit Council of Heads of State and Government, she declared that âWe in Bangladesh are proud of the outstanding work done by Professor Muhammad Yunus and the Grameen Bank he founded.â
“He has demonstrated to the world that the poor have the capacity to productively use even a small credit and change their fate [sic]. The success of the Grameen Bank has created optimism about the viability of banks engaged in extending microcredit to the poor.”
Now the same Yunus and his same model are dubbed as “blood sucker” by the same person.
As i also responded to that Danish Journalist who wrote an oped here on bdnews24.com that Bangladesh’s stride in social sector is no accident. Certainly institutions like Grameen, BRAC etc., have played a huge role. Where there are market and government failures, they filled up the space- that’s where Bangladesh is different than many South Asian countries. But microcredit is not the panacea- at best one of the ways to address poverty and other social deprivations, as you have highlighted.
So, instead of hailing the successes of Yunus and similar personalities and using them as Bangladesh’s ‘brand ambassadors’ (in addition to making documentary like “beautiful Bangladesh”), the state is going after them! We donât know how to honour great innovators/creators. No wonder another Bengal Nobel laureate Tagore wondered: “Oh God! you have created 70 million people as Bengali but alas not as human beings!
Best regards,
Shahid, National university of Singapore
imonsg@gmail.com
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The govt sacked Dr. Yunus, but why is Moriarty deeply distrubed ?
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More than the politicians, some sections of the media must be chortling with glee at the “removal” of Dr. Yunus. Unlike the politicians, media people have no accountability either.
But we have a weapon, I want to declare that if any business house puts up advertisement on one of these anti Yunus medias and sites he will not have my business. This is the only way I know, how I can fight for the dignity of my country.
But this is not the end, the Court is considering the matter and I have great confidence on the honourable Justices.
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This is all they’ve got! Age!!!!! If age is not an issue for a person to run a country i.e. Sheikh Hasina, how is it a problem for a man to manage a bank. Sheikh Hasina is over 60, isn’t she? We’ve seen those loyal secretaries get extension year after year, why can’t Grameen Bank do the same thing?
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Very sad after hearing the news, Bangladesh has many issues to focus, our capital market is ruined, energy production beyond the demand, transport sector ineffective, and our govt focus on how to punish people and some people claps.
Someone is trying to make some change for a better society and all a section of people can do is lecture and criticise,
As Tagore has said, “Rekhecho Bangali kore manush koroni”.
Thanks Chowdhury for the article.
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Institutions do not grow by itself, they have to be nurtured and built with acumen and diligence. Dr. Yunus transformed an idea into an institution, which is being raplicated in many parts of the world. It may not be flawless and certainly not beyond criticism, but it is certainly a story of success, and success without criticism is lacklustre.
At the moment Dr. Yunus is a victim of personal vendetta.
“Lawless are they that make their wills their law”. William Shakespeare
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Unfortunately, the editor of this news outlet has played a despicable role by publishing eye-catching stories like “Yunus siphoning..” and then going on TV to justify himself. I suppose we should expect this from the ruling party and its supporters in the media.
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Dr. Yunus could allow alternative leadership to grow over 30 years to keep GB on sound footing. Nobody is immortal. If he really cared more for GB than his personal glory, he should have done it. Any statement about collapse of GB in his absence reminds me of his poverty on visionary leadership for personal worldwide publicity. He seemingly cared more for the latter than the former. Again, no one is indispensable. Persons come and go, but institutions survive, good or bad. Why is the West so protective of him? Because he is the capitalists’ new hero.
At any rate, I deeply respect him. He should have been treated more gracefully by the govt. At the same time, he should have been aware of BB rules and age bar. Ignorance of rules or benign neglect of them should not be an excuse.
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We do not understand what suddenly has happened that BB and government woke up to find that a decade ago Prof Yunus should have retired or removed.
If he is ’siphoning off’ the poor then he should also have been removed during the last 40 years by presenting the evidence in the court of law.
Or has he now lost his irresistible power base so what could not be done earlier can be done now?
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”The empire strikes back” is a concept which Mr. Afsan Chowdhury took from the movie Star Wars, where the ”empire” represented ”evil” as opposed to the Jedi which represented ”good’. So the underlying message of this article is that the government/politicians being the ”empire” is evil while Dr. Yunus representing the NGO sector is good. At least governments and politicians have accountbility through elections unlike the NGO sector. You speak of great things Mr. Chowdhury. There’s not doubt about that. Yet sometimes your egalitarian facade fades and we see you in your true light within articles like the one you have written today where you side with NGOs pitting against it the ”empire” aka, the government.
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Some people are too critical of Yunus and microcredit. To put it simply, why do they not come up with more effective tool of poverty alleviation? From time to time, their empty rhetoric is successful in casting a spell on us. What contribution have they ever made, or attempted to make, to the people living in grinding poverty on the ground ?
Thanks to Afsan Chowdhury for the write-up.
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There is a shocking lack of transparency in how Grameen Bank operates (almost as bad as the Bangladesh government itself) that just would not be allowed within the US, the very state that is backing Dr Yunus so vehemently.
He has mentioned several times that GB would suffer in his absence. So does he plan to carry on forever? Mortality might get in the way, you know. He should have had used the last 12 years during when he had been “illegally” operating as the MD to find a suitable successor, allowed for a smooth transition and moved himself to an advisory role. It really does feel like he cares more about staying in power (also evident from his backing the military government to try and set up his own political party) than about the future of GB.
We should be wary of judging a person on the basis of Nobel Peace prize. It has a history of controversial recipients and of being incredibly political in nature, and it should not be used as a yardstick for measuring a person’s character.
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Grameen Bank is not Dr. Yunusâs passion. It is his instrument for his name and fame and ultimately the Nobel Prize that he has earned. He knows it well that Grameen Bank is not as rosy as it is depicted by him and his cronies over the period. With his departure the weakness of the Grameen Bank would be exposed. Even if he continues as MD the weakness would be surfaced in the public eyes. Now he is trying to kill the Grameen Bank to burry all his deeds. Working about 30 years he could not make an able successor is unbelievable.
Irony is that Grameen Bank was born at the hands of Muhit and now he is presiding over its funeral function without being aware of Dr. Yunusâs ill-motive.
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The finance minister said it is not a personal vendetta! What else it could be? Civil society shall wake up, at least to safeguard the journey, undertaken by the few others alike to make Bangladesh a better world for children and future generations. Otherwise, those great sons could be demoralised for fear of humiliation in the hand of the so-called political heroes.
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Dr Yunus cannot be above law just because he is a Nobel laureate or has created the world class Grameen brand. He is a master salesman, who mesmerised the westerners. However, the Grameen operation has never been transparent.
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For this reason, there is no innovation in our country — as our national poet has said when the rest of the world is moving forward, we are resorting to ‘fatwa’ on how to divorce wife. This country once again becomes a laughing stock.
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For my friends, anything; for my enemies, the law!
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I can’t believe that some people are actually advocating the idea that some people should be above the law. If Prof Yunus truly believes that he is above the law then in some ways he is no different than the numerous corrupt politicians.
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Nobody beyond the law, but we should not forget that laws are for the betterment of ourselves. Imagine a law which has no use except some disturbance, some political prejudice and directed to eliminate a potential threat.
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When we speak about law, law is not an end in itself. Rather this is a means to an end. Law is just eye wash. For the founder of an organization like Grameen we know how much can be done by a law. If law would be for the sake of law we would not have an non-conventional bank like Grameen in the first place. It was made legal due to the good purpose. Same thing could have happened in this case.
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Hi there! Grameen Bank is not another commercial bank. Grameen is instituted based on an unconventional wisdom. Here Yunus and Grameen are the part and parcel of global microfinance. As long as the Bank’s financial book is sound and the Board of the Bank wants him to continue then why is the govt so worried about it? And why doesn’t the law apply to all, equally? Why Muhit still holding finance ministry portfolio despite a major scam there? But eventually Yunus needs to retire and the board and he should decide on this.
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Then, why should we be an advocate of Hasina? And how old is she again? I doubt if she would step down even if she was 90. And why wasn’t something done for the last 11 years?
Her ideas of alleviating poverty is great, we can see how that process is working out. Oh no wait she is too concerned about building another airport, although our current airport is not operating beyond capacity.
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Would help clarified what this “power” is to which Dr. Yunus is holding on. State residence, police escort, or influence in promotion/transfer? Allocation of VGF may be, or award of the Dhaka-Chittagong highway contract?
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I don’t claim that he is a “dhoya tulshipata” but if everyone else was held to the same standard he is being held against (in terms of irregularties) – half the country would be behind bars.
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It would remain a classic case of demeaning a Brand Ambassador to Demarketing Tool. May Almighty have pity on us in His infinite mercy !!!
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It’s better not to have a brand ambassador who has been propped and now being sheltered like a puppy by Bill & especially Hillary. I don’t think he would have gotten the Nobel Prize without the help of these two.
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Marxists were never against Dr. Yunus. They were against the micro-credit itself. With the removal of Dr. Yunus, the micro-credit would not face natural death. Even Grameen Bank would not fall apart. There are many other NGOs which are running micro-credit, notably BRAC, Proshika, ASA, RDRS, etc. and PKSP funded NGOs. There is squabbling between government and Dr. Yunus not between micro-credit or Grameen Bank and the government. So, the opposition to micro-credit from Marxists has not come to an end.
Mollahs were against micro-credit operation, not only against Grameen Bank or Dr. Yunus. They were against not only micro-credit but also against the NGO activities. It started in the early â80s when BRAC started its conscientisation programme across the country. It continued mid-â90s and later it died down. Since people perceived Grameen Bank as an NGO, the Mollahs were hostile towards it as well.
They (Mollahs) were hostile towards NGO activities because at that time they thought the NGO would break the social norms on women’s roles. They believed it because NGOs worked with women only. But their hostility disappeared when they found that NGO had not the capacity to change the womenâs docile roles. Rather they have become more docile — take loans, hand over to husband and bear the pain of kisti (instalment) payment. So, Mollahs become happier with the NGOâs credit operation.
The non-Mollah people were also against NGO activities fearing the break-down of social fabrics. BRAC were mainly responsible or deserved credit for such popular perception. BRAC made an impression that they were to bring revolution which the revolutionary parties failed to bring. The BRAC workers lived in a camp located in remote villages. They could not live with their wives in the working areas. I cannot remember whether there was any guideline for marriage of the workers. They conducted the meetings of the male groups at night and continued it till midnight. They did it as their group members were mostly day labourers and could not attend the meeting if it were held at day time. The BRAC people motivated them for social change, of course in their own perceived way. Right or wrong it helped people outside BRAC network believe that BRAC was going to change the social fabrics. Other NGOs also perused by and large the same line. Ultimately, BRAC left their conscientisation programmes and started concentrating their activities on credit-operations which made them acceptable to the people.
The NGOs including BRAC were compelled to change their conscientisation programme with their institutional growth which depended on the successful credit operation. Lending money to the poor, it was impossible to run conscientization programme as it would make hostile the larger section of the people who as a reaction would make trouble supporting the borrowers not to pay back loans.
Moreover, with the expansion of the credit network they recruited more human resources. What they could do with the small number of workers that was not possible with the larger number of the workers. They allowed the workers to live in their own houses.
Moreover, the dedication of the first generation workers cannot be expected from the next generation workers. The first generation workers being radical and dedicated had a zeal for social change. The later recruits were mostly jobs seekers and they were not interested in social change.
* * *
When a new modern institute with more resources and is backed by the outsiders (donors), the old institution who enjoyed privileges might get jolted and resist it with all efforts. It happened actually in the case of NGO. But in course of time, when the old institution could see that they (NGO) were no way harmful to their interest, they were no longer hostile.
* * *
The World Bank had tried to give loans to the Grameen but Yunus opposed it despite the government wanted him to take. Afsan likes fabulous story to elevate Dr. Yunus.
* * *
Dr. Yunus got the patronage of Janata Bank at the beginning of his journey in Jobra. Later, Anisur Rahman, the DG of Krishi Bank gave him support generously but none knows it because Dr. Yunus does not have the generosity to express his gratitude to his mentor as it would shadow him. He got supports from bureaucrats like Muhit and Syeduzzan. Unfortunately, Afsan does not recognise it and undermines the bankers and the bureaucrats. He also got support from political high-ups of â70s but Afsan has not mentioned it.
However, Dr. Yunus recognised the contribution of Muhit to the establishment of Grameen Bank in his interview with daily Prothom Alo after receiving the Nobel Prize.
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Afsan: It’s just like Greek tragedy: “Taking out Achilles’ glorifying Hector”!
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Simply very bad example set by GoB, motivated by personal vendetta of PM.
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The departure of Dr.Yunus ,if was inevitable,should have occurred in a decent and dignified manner.The worst part of the whole affair was the malicious language in which the PM spoke of him; it was totally devoid of the decorum and restraint expected from a person of her stature.Did she realize, she had degraded herself in her attempt to undermine her opponent ?In total contrast was the humility and modesty with which Dr. Yunus defended his case, and it must be admitted even if we don’t support him.
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Disagree with this article.
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Exactly, Dr. Yunus wants people to believe that he is removed by the government for personal vendetta of PM as it would elevate his own status.
It would also give him an opportunity in future to deny the anomalies if the Review Committee on Grameen Bank find any branding them as personal vendetta.
Both government and Dr. Yunus havea common point for Dr. Yunu’s exit from Grameen Bank but they differed with each other on exit strategy. Dr. Yunus wanted an exit strategy of his own choice in place (Letter to Muhith from Yunus) which the government did not accept as the finance minister claimed by saying that– we tried to make an friendly environment for his exit but in vain and we had no other alternative except his removal. I think Dr. Yunus wanted a fiasco like this to erupt through which Dr. Yunus would lose little but gain a lot. On the other hand, the government would lose heavily and gain little.
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Only last month, a few BNP/Jamaat supported newspaers published the news that Hilary Clinton warned dire consequences if YUNUS is ousted.
If that news was true, then i will say Hasina has done a great job ignoring the red eye of a superpower. Does any one now have the courage to say that AL is sold to big power ?
However, humiliation of any one is not a civilised norm and we should have respect for our senior citizens.
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What a shame! It is as apparent as daylight, that a group of people are trying everything possible to taint Dr. Yunusâ name. Why donât they go after businessmen who are actually dishonest instead of nitpicking Dr. Yunus, who had elevated Bangladeshâs name to another level in the global community?
Before the Nobel Prize win, the name of Bangladesh was associated with words like: poor, famine and flood. Now the name emanates one of the most prestigious prizes in the globe, days of pitying are turning into respect.
Dr. Muhammad Yunus makes me humbly proud and solidify my content to be a Bangladeshi. His contribution to Bangladeshâs future is priceless. An attempt to tarnish Dr. Yunusâ reputation is tarnishing Bangladeshâs future and reputation.
First impression of the people who are going out of their way to smear Dr. Yunusâ name is either blind with self interest or they are enemy of Bangladesh. It would be a grave sadness and shame, if we, Bangladeshis standby and let it happen.
M.M. Hussain âShafuâ
Los Angeles, USA.
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Our PM proved it one more time that àŠȘàŠ°àŠ¶à§àŠ°à§àŠàŠŸàŠ€àŠ°àŠ€àŠŸ is our national passion. Interestingly, there is no such single word in English and many other languages of advanced nations.
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