Monday, April 25, 2011

Bangladesh concludes investigation on Muhammad Yunus

The Bangladeshi government has concluded their probe on Muhammad Yunus and his Grammen Bank. The findings of the investigation contain a mixed bag or results. The probe has cleared Yunus of any allegations of evading taxes. However, they did uphold the central bank order that Yunus must quit his post at Grammen Bank due to advanced age.

From the Guardian, we find the government's statement on concluding the probe.

Yunus denied any wrongdoing and a Norwegian government investigation later also cleared him of any malpractice.

The Bangladeshi finance minister, Abul Maal Abdul Muhith, told reporters on Monday that a committee appointed by the government to investigate Grameen Bank's operations had also found no evidence of financial irregularities.

But officials and experts said the finding would have no impact on the government's decision to fire Yunus as the bank's managing director, because he had overstayed the official retirement age for bank managing directors in Bangladesh of 60 years.

Associates of Yunus say his removal was government retaliation after he briefly considered a political career to challenge the prime minister, Sheikh Hasina.

No comments: