Page 14 - Muhammad Yunus

Rise of Muhammad Yunus, from Nobel Prize to Bangladesh's chief adviser

Muhammad Yunus is a distinguished social entrepreneur, banker, economist, and civil society leader, credited to be the 'banker to the poor' for establishing Grameen Bank

Bangladesh's protesters want Nobel laureate Yunus as interim govt chief

Nobel laureate Dr Muhammad Yunus will be the chief adviser to the interim government in Bangladesh, the coordinators of the Anti-Discrimination Student Movement announced on Tuesday. In a video posted on social media early Tuesday morning, Nahid Islam, one of the key coordinators of the movement, said that Prof Yunus has agreed to take on this crucial responsibility at the call of the student community to save the country, the Daily Star newspaper reported. "We took 24 hours to announce a framework for the interim government. However, considering the emergency situation, we are announcing it now," Nahid said. "We have decided that the interim government would be formed in which internationally renowned Nobel Laureate Dr Mohammad Yunus, who has wide acceptability, would be the chief adviser," said Nahid, flanked by two other coordinators. His announcement comes hours after President Mohammed Shahabuddin said an interim government would be formed after dissolving the parliament as so

B'desh court indicts Nobel laureate Muhammad Yunus on embezzlement charges

A special judge's court in Bangladesh indicted Wednesday Nobel laureate Muhammad Yunus and 13 others on charges in an over USD 2 million embezzlement case. Yunus, 83, who was awarded the Nobel Peace Prize in 2006 for pioneering microcredit to help impoverished people, especially women, pleaded not guilty and is out on bail for now. He told reporters that authorities were harassing him and other colleagues and denied being involved in any corruption. In a packed Dahka courtroom, Special Judge in Dhaka Syed Arafat Hossain dismissed petitions seeking the charges which centres around Yunus' non-profit Grameen Telecom to be dropped. The prosecution has accused Yunus and the others of embezzling 250 million takas (about USD 2 million) from the workers welfare fund of Grameen Telecom, which owns 34.2 per cent of the country's largest mobile phone company, Grameenphone, a subsidiary of Norway's telecom giant Telenor. They are also accused of money laundering. Hossain, the judge, said th

Bangladesh Nobel laureate Muhammad Yunus granted bail in embezzlement case

Senior Special Judge Ash-Shams Joglul Hossain of Dhaka Metropolitan passed the order after Yunus surrendered before the court and applied for bail

Bangladesh appeals court grants bail to Nobel laureate Yunus in labour case

An appeals court in Bangladesh on Sunday granted bail to Nobel laureate Muhammad Yunus, who had been sentenced earlier to six months in prison for violating the country's labour laws. The court also agreed to hear an appeal against his sentencing. Yunus who pioneered the use of microcredit to help impoverished people, especially women, filed the appeal seeking bail on Sunday morning before it was granted. He was awarded the Nobel Peace Prize for his work in 2006. The 83-year-old economist and three other officials of the telecommunications company were sentenced to six months in prison on January 1, but they were immediately granted 30 days of bail to appeal the verdict and sentence. Sunday's court decision said the bail would remain effective until a final decision is made on the appeal for the sentencing. Defence lawyer Abdullah Al Mamun said the first hearing on the appeal would be held on March 3. The case involves Grameen Telecom, which Yunus founded as a non-profit ...

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Bangladesh court sentences Nobel laureate Yunus to 6 months in jail

A labour court in Bangladesh's capital on Monday sentenced Nobel Peace Prize winner Muhammad Yunus to six months in jail for violating the country's labour laws. Yunus, who pioneered the use of microcredit to help impoverished people, was present in court and was granted bail. The court gave Yunus 30 days to appeal the verdict and sentence. Grameen Telecom, which Yunus founded as a non-profit organisation, is at the centre of the case. Sheikh Merina Sultana, head of the Third Labour Court of Dhaka, said in her verdict that Yunus' company violated Bangladeshi labour laws. She said at least 67 Grameen Telecom workers were supposed to be made permanent employees but were not, and a "welfare fund" to support the staff in cases of emergency or special needs was never formed. She also said that, following company policy, 5 per cent of Grameen's dividends were supposed to be distributed to staff but was not. Sultana found Yunus, as chairman of the company, and three other company director

Nobel Peace laureate Muhammad Yunus convicted, to face jail in Bangladesh

Yunus was awarded the Nobel Prize for Peace in 2006 for pioneering the use of microcredit and lifting millions out of poverty

Financial systems have design flaws, Covid has revealed weaknesses: Yunus

In a conversation with Congress leader Rahul Gandhi, Yunus called for making a new beginning towards a system that will create space for the informal and rural economy and all sections of society

Coronavirus provides opportunity for a new imagination: Rahul Gandhi

Rahul Gandhi was speaking to Bangladesh Grameen Bank founder Muhammad Yunus

MFIs in India should be allowed to accept deposits from public: Yunus

Nobel laureate Muhammad Yunus said that micro-finance institutions (MFIs) in India should be allowed to accept deposits from the public

Bangladesh court asks Nobel laureate Yunus to surrender by November 7

The order came in response to a petition seeking a stay of an arrest warrant for Yunus issued by the labor court last month

Giving capitalism a social conscience

Muhammad Yunus, the receipent of the 2006 Nobel Peace Prize, has been asserting the most powerful way to eradicate poverty is to unleash untapped entrepreneurial capcity of people