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Bangladesh resumes Grameen's Yunus court hearing | |
(about 7 hours later) | |
Bangladesh's High Court has resumed its hearing into whether Nobel Laureate Muhammad Yunus was illegally fired from the microfinance bank he founded. | |
On Sunday Mr Yunus's lawyers laid out their case before the court. | |
Last week the central bank sacked him, saying he was past retirement age and had been improperly appointed. | |
Grameen bank gives small loans to millions of borrowers. Analysts say the effort to remove him is the culmination of a long feud with the government. | |
Attorney General Mahbubi Alam said the court was likely to give its ruling on Monday, the Associated Press news agency reported. | Attorney General Mahbubi Alam said the court was likely to give its ruling on Monday, the Associated Press news agency reported. |
Politically motivated? | Politically motivated? |
During Sunday's hearing, lawyers for Mr Yunus argued that the central bank did not have the power to remove Grameen Bank employees. | During Sunday's hearing, lawyers for Mr Yunus argued that the central bank did not have the power to remove Grameen Bank employees. |
The central bank, also known as Bangladesh Bank, has claimed that Mr Yunus did not get its approval when he was re-appointed director in 2000. | The central bank, also known as Bangladesh Bank, has claimed that Mr Yunus did not get its approval when he was re-appointed director in 2000. |
As a result, he is holding the position illegally. | As a result, he is holding the position illegally. |
However, some of Mr Yunus supporters say that his dismissal was politically motivated. | However, some of Mr Yunus supporters say that his dismissal was politically motivated. |
Mr Yunus has spoken out against the current government, lead by Prime Minister Sheikh Hasina. | |
In 2007 he attempted to form his own political party. | In 2007 he attempted to form his own political party. |
The Prime Minister has accused the Grameen Bank and other microfinance institutions of charging high interest rates and taking advantage of the poor. |