Home Latest News Bangladesh courtroom grants bail to Nobel laureate Muhammad Yunus

Bangladesh courtroom grants bail to Nobel laureate Muhammad Yunus


Grameen Communications is a not-for-profit information technology firm [File: Jason DeCrow/AP]

Grameen Communications is a not-for-revenue info technology agency [File: Jason DeCrow/AP]

Micro-credit history pioneer and Nobel laureate Muhammad Yunus has been granted bail in Bangladesh over the firing of three staff by Grameen Communications, exactly where he is chairman.

Zakia Parveen, performing chairman of the third Labour Court in the capital, Dhaka, announced the determination on Sunday when Yunus appeared in advance of the court docket.


  • Muhammad Yunus: Bangladesh probes Nobel laureate’s tax

  • Grameen Financial institution: a financial debt trap for the weak?

  • Being kicked out of Bangladesh’s Grameen Financial institution

Past thirty day period, the country’s Superior Court had set a November 7 deadline for him to show up in particular person.

The Labour Court experienced previously issued an arrest warrant for Yunus and two other executives following he failed to seem simply because he was abroad.

The 3 staff members submitted the instances in July, stating they were being terminated illegally soon after trying to get to sort a trade union.

Grameen Communications, a not-for-profit facts know-how business, is a person of quite a few firms less than the Grameen umbrella launched by Yunus.

Yunus shared the 2006 Nobel Peace Prize with Grameen Lender, which provides modest financial loans to impoverished men and women.

He shed a authorized battle following the govt of Primary Minister Sheikh Hasina eradicated him from the lender about retirement age restrictions in 2011.

A year before, in November 2010, Hasina claimed Yunus was “sucking blood from the inadequate in the name of poverty alleviation”.

In the subsequent several years, the authorities submitted a legal circumstance from him for food adulteration, and initiated investigations into the bank and its sister organizations.

In 2015, the Countrywide Bureau of Profits submitted a court docket situation in opposition to Yunus for allegedly failing to pay $1.5m in tax – an allegation he identified as “baseless”. The case was subsequently stayed by the Higher Court docket.

The move was noticed by some observers as a attainable new action in the ruling Awami League party’s ongoing feud with Yunus, which was initially brought on by his attempt in 2007 to set up a rival political occasion.

The key minister has also accused him of lobbying the Earth Bank to stop its $3bn financing of a bridge around the Padma river at Mawa, 50km (30 miles) south of Dhaka, and this year reported “the conspirators” searching for to block the grant “will be prosecuted”.

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