Grameen Founder Muhammad Yunus in Final Appeal

Wednesday, March 9, 2011

Bangladeshi Nobel laureate Muhammad Yunus has lodged a final appeal against his sacking as head of the Grameen microfinance bank he founded.

The Supreme Court will hear the case next Tuesday.

The central bank fired Prof Yunus last week, saying he was past retirement age and had been improperly appointed. He says the move is politically motivated.

Grameen Bank pioneered micro-lending to the poor by giving small loans to millions of borrowers.

The model has been replicated throughout the developing world.

In a ruling on Tuesday, the High Court upheld the sacking.

Source: BBC News (link opens in a new window)