Muhammad Yunus Survives Bid to Oust Him as Grameen Bank Head

    Muhammad Yunus has survived an attempt to remove him as head of Grameen Bank, which he founded some 30 years ago to lend to poor people in Bangladesh.

    Critics of the 70-year-old Yunus pushed a motion to remove him as managing director during a Feb. 28 meeting of the bank’s board members in Bangladesh on grounds of his age, the Guardian reports, citing sources close to Grameen Bank. The U.K.-based newspaper says the motion was defeated.

    Supporters of Yunus have accused the Bangladeshi government of campaigning to remove the Nobel Peace laureate in a bid to secure control of the bank.

    >> Campaign to Remove Muhammad Yunus as Grameen Bank Managing Director On

    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.