Dhaka: A Bangladesh court is set to rule on Tuesday afternoon on whether Muhammad Yunus was illegally terminated from his own Grameen Bank after a clash with the authorities.
Yunus, 70, who won the Nobel Peace Prize in 2006 for his concept of small cash loans to tackle poverty, was removed from the bank last week in what his supporters say was part of a political vendetta against him.
He has defied the central Bangladesh Bank’s order, returning to work at Grameen’s headquarters in Dhaka and lodging the High Court case contesting his dismissal.
“The High Court will announce its verdict at 2:00pm (0800 GMT),” Attorney General Mahbubey Alam said, adding the central bank — which is nominally independent from the government — was within its rights to fire Yunus.
It removed Yunus on the basis that he had been in his position illegally since not seeking the central bank’s approval when he was reappointed to the post of Grameen Bank managing director in 1999.
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