In 1997, when the world was worried about providing micro loans to 100 million poor people by 2005, Yunus was one of the key enablers who made it possible by 2006. The recent bashing against him can only breed conspiracy theories. The most prominent is that Sheikh Hasina has been livid that Yunus’ Nobel Prize makes his stature in Bangladesh higher than her own. She has spared no opportunity to malign him since he planned a political party in 2007.
Moreover, the central bank has set a new record in bad timing! The argument that the retirement age was 60 (he’s 70 now) and Yunus had failed to take permission when appointed indefinitely to the post in 1999 does not help the government’s cause at all. If the issue was alleged financial irregularities, it never came to the fore in the ruling. Unfortunately, the only achievement is a bad name to Grameen Bank and the micro finance industry. And it hasn’t made Sheikh Hasina’s glory any greater.
Moreover, the central bank has set a new record in bad timing! The argument that the retirement age was 60 (he’s 70 now) and Yunus had failed to take permission when appointed indefinitely to the post in 1999 does not help the government’s cause at all. If the issue was alleged financial irregularities, it never came to the fore in the ruling. Unfortunately, the only achievement is a bad name to Grameen Bank and the micro finance industry. And it hasn’t made Sheikh Hasina’s glory any greater.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
