Court backs move to oust Yunus | FT Alphaville

Court backs move to oust Yunus

Grameen Bank, the pioneering Bangladeshi micro-lender, appears set for an institutional shake-up after the Supreme Court rejected the final legal appeal for Nobel laureate Mohammad Yunus to remain at the helm of the bank, the FT reports. In a widely expected ruling, the Supreme Court upheld the central bank’s dismissal of Yunus, now 70, as managing director of Grameen for exceeding the mandatory retirement age. The verdict comes after a months-long dispute with the government of Prime Sheikh Hasina, who has made little secret of her dislike for Bangladesh’s most famous citizen.