Wednesday, March 9, 2011
Muhammad Yunus Expelled
Muhammad Yunus is the man who made the whole idea of MicroFinance a reality. For that he was renowned for extending millions of people well below the poverty line the ability to establish creditworthiness and move towards financial independence. In 2006 he received the Nobel Peace Prize for his work.
Now the Bangladesh government is forcing him out from his position as the head of the Grameen Bank, the bank he founded. The other day Bangladesh's High Court official removed Mr. Yunus on the grounds of some flimsy legal violations and a BS age limitation on the position. Mr. Yunus and his legal team are appealling the decision.
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