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Yunus quits as Grameen Bank MD

Nobeli Laureate Muhammad Yunus resigned as Managing Director of Grameen Bank, the micro-credit network he pioneered, expressing the hope that it would retain its “independence and character”.

The government has rejected the demand by the bank’s directors that Yunus be made the bank’s chairman and has also turned down the argument of the bank being “independent”, saying it is subject to the laws governing the banking sector.

In his resignation letter made public late Thursday, Yunus said he was quitting to prevent disruption in the bank’s activities and to “protect entire GB family from being subjected to difficulty”.

This brought to an end a battle with the government that had removed Yunus March 2.


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