In Bangladesh, the High Court on Tuesday rejected the writ petition filed by Nobel Laureate Prof Muhammad Yunus’ challenging the legality of the central bank’s order to remove him from the post of Managing Director of Grameen Bank. The two judge bench of the Bangladesh High Court passed the order after a three-day hearing of matters related to the writ petition. The Bangladesh bank had issued a letter to Grameen Bank last week removing seventy year old Dr. Yunus from the post of Managing director on the ground that he has crossed the age limit of sixty years stipulated by law for directors of a bank. The Bangladesh Bank had also stated that Grameen bank had not obtained the approval of the central Bank for his appointment. Dr. Yunus then filed a writ petition followed by a supplementary petition challenging the validity and legality of the Bangladesh Bank’s order which has now been rejected by the court.
News On AIR | March 8, 2011 4:53 PM
Bangladesh HC rejects Muhammad Yunus's petition