Muhammad Yunus, founder of Grameen Bank, has explained
I was standing on the high promenade at the Sandy Hook, NJ lighthouse overlooking the Atlantic Ocean. In our tour group, I observed a tall, pale teenager, clearly “too cool” for a family outing.
The concept of microcredit — tiny microloans used to help establish or expand income-generating informal microenterprises — was for most of the last 30 years seen by the international development community to be the perfect self-help answer to poverty, unemployment and under-development.
The present phase of the Grameen affair has now ended with the official probe report in and Yunus ousted from his post as the managing director. The probe report has cleared Yunus of all theft and misappropriation charges.
The government of Bangladesh did not snatch away Nobel Peace Prize from Dr. Muhammad Yunus which was bestowed on him by the imperialist powers, and in any case they have no power to do so. They simply have removed him from his post of managing director of Grameen Bank on legal grounds. This was done… Read more »
Like many other concerned citizens of the world, I was stunned by the news that Nobel Laureate Muhammad Yunus has been sacked by the government of Bangladesh, from his position of managing director (Head) of Grameen Bank, a community development bank he founded in 1983. The actions seem to be politically motivated, where personal gains… Read more »