The Supreme Court dismissed Dr Muhammad Yunus’ appeal

 The Supreme Court on Tuesday dismissed Dr Muhammad Yunus’ appeal against a High Court verdict that upheld Bangladesh Bank’s order removing him from the post of managing director of Grameen Bank.
With this, the Nobel Peace Prize winner of 2006 lost a final legal battle against the government to retain the top position he had held since the founding of the microfinance institution in 1980s.

However, his lawyers said they filed a recall petition which has been included in the supplementary cause list for hearing by the Appellate Division of the Supreme Court.

The seven-member full bench of Appellate Division, headed by Chief Justice ABM Khairul Haque, on Tuesday dismissed the petition by Yunus after full-day hearing on it and upheld the High Court verdict.

“Dr Yunus will have to leave Grameen Bank. He has no scope to stick to the post of managing director. That will be illegal,”

3rd generation of Sufia Khatun 1st Borrower of Grameen Bank

 In 1976, Sufia Khatun of Jobra village, seeking respite from poverty, took a small loan from Grameen Bank. With that loan, the 'Bank for the poor' began its journey. 

Thirty-five years later, little has changed for Sufia Khatun's family. The first borrower of Grameen Bank has died poor; as a beggar.Her two daughters, Halima Khatun and Nurunnahar Begum — one a house wife and the other mentally disabled; live a marginalised life. 

 while visiting Sufia Khatun's house in Jobra under Hathazari Upazilla, Chittagongong, a sad state of affairs was noticed. Except for a five-katha dwelling of Halima and Nurunnahar, the family has no arable land. 

Sufia Khatun died in 1997. The 'banker of the poor' Muhmmad Yunus and the Grameen Bank jointly won the Nobel Peace Prize in 2007. 

'MORE LOAN TO REPAY LOAN' 

Under Grameen Bank's microcredit scheme, Sufia Khatun borrowed Tk 560 in two installments in 1976. This was the first loan under Dr Yunus' action research programme before Grameen Bank launched its official microcredit scheme. 

In 2010, Nurunnahar, Sufia Khatun's youngest daughter tells bdnews24.com, "Though my mother was the first borrower of microcredit scheme, though Yunus sahib has earned name and fame highlighting my mother, we have remained poor till today." 

Nurunnahar said that her mother took the loan to start a cane furniture business. But her business did not take off. Instead she got embroiled in the web of loans. As the interest rate continued to rise, Sufia was forced to take loan from a different source to repay Grameen Bank's loan, said Nurunnahar. 

'Since then none from our family ever went to Grameen Bank to borrow money,' said Nurunnahar. 

'BORROWERS' OVERLOOKED' 

Halima's son, Babul, a rickshaw-puller said that after Dr Yunus won Nobel peace prize, many journalists — both print and electronic — visited their village and took their photos. "The local Grameen Bank officials showed the reporters the building next to our house as ours, and the journalists taking its photo went away." The building belongs to Sufia Khatun's nephew Jebol Hossain, a migrant worker in Abu Dhabi. 

Jebol, who was on a visit to his village home recently, told bdnews24.com that Dr Yunus has won Nobel Prize highlighting positive aspects of microcredit scheme. "He has visited foreign lands, given speeches lauding Grameen Bank activities. But no one has ever highlighted the conditions of the borrowers." 

After winning the Nobel peace prize, Dr Yunus made a visit to Jobra village. No one from Sufia Khatun's family could meet Muhammad Yunus, said Nurunnahar and Jebol. 

'NO TO FURTHER LOAN' 

Another borrower from Grameen Bank who failed to improve his financial condition was Mohammad Hanif from Jobra village. Nurnnahar's neighbour Hanif borrowed Tk 2000 from Grameen Bank in 1986. 

While talking to bdnews24.com, Hanif said that he bought a cow with the borrowed money. But failing to repay installment, he had to sell the cow. He repaid a Tk 2800 with interest in seven months. 

"Though microcredit scheme has been publicised as beneficial for the poor, it was hardly the case for many of us," said Hanif. These days Hanif leads a modest life living off cultivation. 

'I never went for a second loan from the Grameen ruefully ', said Hanif. 

13th ammendmend of the Constitution of Bangladesh

Verdict on 13th amendment appeal after Apr 23

Attorney general in favour of CG system

The Supreme Court will deliver its verdict after April 24 on an appeal against its order on the 13th amendment of the constitution which allows parliamentary elections under a caretaker government.

The seven-member bench of the Appellate Division headed by Chief Justice ABM Khairul Haque set the time on Wednesday as the Supreme Court goes into a 14-day vacation on April 10.

Nobel Lorette Dr. Muhammad Yunus Case

6th April 2011
Attorney general Mahbubey Alam has said the Supreme Court should not declare illegal the 13th amendment to the constitution.

He made the observation at the hearing on the appeal against the High Court verdict on the 13th amendment that introduced caretaker government system on Wednesday.

"It was done as necessitated by a historic demand [of time] and the parliament will bring any changes to it, if required."

A seven-member full bench, headed by chief justice A B M Khairul Haque, began hearing arguments on Wednesday. 


5th April 2011
The Supreme Court has adjourned hearing on two petitions involving removal of Muhammad Yunus from the Grameen Bank.

The full bench of the Appellate Division, led by chief justice A B M Khairul Haque, on Wednesday suspended the hearing until one week after the reopening of the court after its vacation that falls on May 2.

The vacation will run from Apr 8 to Apr 23 after one week of which it is a public holiday on May Day (May 1), meaning that the hearing is likely to be held on May 2.

One of the petitions was filed by Yunus urging the apex court to withdraw its order confirming the High Court ruling backing his sacking from the microlending institution.

Nine directors of the bank filed the other petition challenging the legality of the Nobel laureate's removal as their managing director.

When the court convened on Wednesday morning, it wanted to hear from Yunus' counsel Kamal Hossain whether he would be able to finish his argument in one day as one of the judges will be on leave on Thursday, the last day before the court goes into vacation.

As attorney general Mahbubey Alam and Bangladesh Bank lawyer Tawfiq Newaz requested the full bench to start the hearing, it again asked Kamal whether it was possible to complete the hearing in a day.

Kamal replied in the negative.

The court then adjourned the hearing on both the petitions.

Kamal told journalists that the top appeals court would hear the petitions one week after its reopening.

The Supreme Court earlier on Tuesday confirmed the High Court ruling that backed the sacking of Muhammad Yunus from Grameen Bank as its managing director.

Yunus later filed a petition urging the apex court to withdraw its order, one of his counsels, Mustafizur Rahman Khan, confirmed bdnews24.com about the filing of the fresh petition.

Yunus also convened a news conference at Grameen Bank headquarters at 5:30pm to brief the media on his reaction to the latest court ruling, but later postponed it, the bank's information and media co-ordinator Rafiqul Islam said.

"Yunus is not the Grameen Bank managing director from now," Ajmalul Hossain, another lawyer for the central bank, told bdnews24.com after the dismissal of the Nobel laureate's appeal on Tuesday.

Kamal, however, said, "Whether Dr Yunus will be able to continue as Grameen Bank MD cannot be ascertained right now.

"Another appeal, by nine directors of Grameen Bank is still under trial. Before its verdict, we cannot say anything conclusive."

On Mar 29, a regular bench of the Appellate Division, led by chief justice A B M Khairul Haque, ordered Yunus to seek permission for admissibility of the appeal for a freeze on the High Court order and fixed Monday the hearing, which was later moved to Tuesday.

On Mar 8, the High Court rejected Yunus's claim that his sudden sacking on Mar 2 by the central bank and financial sector regulator was arbitrary and illegal.

In its decision, the High Court had found that Yunus, 70, had no legal authority to act as the micro-lender's managing director, since its board had not obtained the Bangladesh Bank's sanction to re-appoint him beyond the bank's official retirement age of 60.

Yunus argued that Grameen Bank had been given special status and it was exempt from the rule.

He filed a petition against the order which the High Court had rejected. Later, on Mar 9, Yunus filed a petition seeking a stay on the High Court order.

Hearing the appeal on Mar 29, the Appellate Division asked the 2006 Noble laureate to file a leave-to-appeal and he did it on Sunday following the publication of the full verdict.

Yunus was unceremoniously relieved of his duties on Mar 2 through a central bank letter sent to Grameen Bank chairman Khondoker Muzammel Huq.