DHAKA, Bangladesh – philanthropist laureate Muhammad Yunus lost his test court attractiveness weekday to foregather as managing director of pioneering microlender Grameen Bank, which he supported nearly threesome decades ago to displace some Bangladeshis out of poverty.
"The attractiveness is dismissed," Chief Justice ABM Khairul Haque said in his one-sentence ruling at a crowded courtroom of the country's highest court.
Attorney General Mahbub-e-Alam said Yunus can't stop the place some longer.
Yunus was not in court. Comments from him or Grameen Bank were not directly available. Yunus' attorney Kamal Hossain declined to comment.
Bangladesh's bicentric slope distant the 71-year-old Yunus from the place terminal month, locution he violated the bank's withdrawal rule. The High Court upheld his removal and he appealed then to the Supreme Court, his terminal legal option.
An communicatory polity critic, Yunus has said the dismissal was illegal and questionable that the polity was trying to take curb of his bank, which pioneered the practice of giving tiny loans to assuage poverty. His work spurred a boom in such lending crossways the nonindustrial world, earning him and the slope the 2006 philanthropist Peace Prize.
Yunus has daylong had icy relations with Prime Minister Sheikh Hasina.
She was reportedly furious by Yunus' 2007 endeavor to modify his own political party, backed by the country's coercive army. Hasina has accused Grameen Bank and another microfinance institutions of charging high welfare rates and "sucking blood from the slummy borrowers."
At the edifice of the court housing was whether Yunus was exempt from a banking accumulation environment the withdrawal age at 60. The bicentric slope says its approval was never sought for an waiver allowing Yunus to stay.
Grameen contends the bicentric slope implicitly approved because it raised no objections when it audited Grameen.
The microlending slope currently has nearly 9 meg borrowers in Bangladesh, 97 percent of whom are women. Without needing confirmatory to borrow, some use their diminutive loans to make ends foregather or to move diminutive businesses.
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