The BBC and AFP are reporting that Muhammad Yunus was fired from the Grameen Bank...or at least are quoting the new government-appointed chair, Muzammel Huq, to that effect.At a Monday meeting, the board failed to support a motion to fire Yunus. Huq is now asserting that the Bangladesh Bank, the country's central bank, has the authority to remove Yunus anyway. But as David Bergman also just reported, the legal basis for this claim is murky.So it would seem that the "firing" is an escalation of the confrontation. In the ideal, this would be settled in the courts. What will happen here, I don't know.Update 1: Sure enough, the Yunus Centre just stated that Yunus remains the Managing Director. "This is a legal issue." (HT @BloomMV)Update 2: I'm told Yunus doesn't stand a chance in the courts: they will do the government's bidding.
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