Bangladesh ‘sacks’ Grameen chief

Nobel laureate Muhammad Yunus told by central bank to leave micro-lender following allegations of irregularities.

Yunus’s dismissal follows a Norwegian documentary alleging Grameen Bank was dodging taxes [EPA]

Bangladesh’s central bank says it has removed Muhammad Yunus, the Nobel economics laureate, from the post of managing director of Grameen Bank, the micro-lender founded by him.

The decision, announced on Wednesday, followed allegations of irregularities in the bank’s operations.

The central bank deputy governor, who told the Reuters news agency that Yunus had been removed, declined 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 Sheikh Hasina Wazed, the prime minister, since late last year, after a Norwegian documentary suggested that Grameen Bank was dodging taxes.
Yunus had denied any financial irregularities.

Source: News Agencies