MICROCAPITAL BRIEF: Crowd Of 20,000 Protests Bangladesh Bank Attempts To Remove Dr Yunus As Managing Director Of Microfinance Institution (MFI) Grameen Bank, US Secretary Of State Clinton Among Those Offering Support

An estimated 20,000 employees and customers of Grameen Bank, a Bangladeshi microfinance institution (MFI) that manages total assets of USD 1.4 billion, convened in protest against the move of Bangladesh Bank, the central bank of Bangladesh, to dismiss Nobel laureate Dr Muhammad Yunus as managing director of the MFI [1]. The central bank charges 70-year old Dr Yunus with having been installed in office improperly and with holding office past the legal retirement age of 60.

Some observers argue that the leadership of the country has worked against Dr Yunus since he made preliminary moves toward forming a political party in 2007. Nurul Amin Khandaker, a Grameen Bank accountant, suggests that the ruling is......

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