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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search ADVERTISEMENT Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Top Stories Most Popular Photos Full Coverage Sitemap Bangladesh resumes Microfinance laureate hearing AFP - 2 hours 12 minutes ago Send IM Story Print Bangladesh resumes Microfinance laureate hearing DHAKA (AFP) - – A court hearing into whether Bangladeshi Nobel laureate Muhammad Yunus was illegally sacked from his microfinance bank will resume Monday with his lawyers set to question the motives behind his removal. Yunus, 70, who won the Nobel Peace Prize in 2006 for his pioneering concept of small cash loans to tackle poverty, was sacked from Grameen Bank last week in what his supporters say was part of a political vendetta against him. He has defied the central bank's order, returning to work at Grameen's headquarters in Dhaka and lodging the High Court case contesting his dismissal. "When the court resumes today, Yunus's lawyers will question the intention of the (central) Bangladesh Bank," in removing him, Tanim Hussain Shawon, a member of Yunus's legal team, told AFP on Monday. Yunus was fired by the central bank, which claimed he had been in his position illegally since not seeking their approval when he was reappointed to the post of Grameen Bank managing director in 2000. "The central bank has been inspecting Grameen Bank for the last 12 years. All these years, they never questioned Yunus's reappointment. This raises suspicions they are part of a character assassination of Yunus," Shawon said. Yunus's lawyers told the court on Sunday that the Bangladesh Bank was not the competent authority to fire him. Attorney General Mahbubey Alam said he would defend the government and the central bank's decision after Yunus's legal team finished their arguments. Supporters say Yunus's troubles stem from 2007, when he floated the idea of forming a political party, earning the wrath of Prime Minister Sheikh Hasina, who has publicly disparaged his work. In December, following the release of a Norwegian documentary critical of Yunus, Hasina accused him of "sucking blood from the poor" and pulling a financial "trick" to avoid paying tax. Yunus has since been vilified in the Bangladeshi press, summoned to court three times in cases nominally connected to Grameen and seen his bank become the target of a government probe. The removal of Yunus sparked street protests in Bangladesh and condemnation from overseas, including from US Senator John Kerry. Grameen Bank, which is 25 percent state-owned and employs 24,000 people, provides collateral-free loans to eight million borrowers, the vast majority from rural areas. Since being founded in 1983, its work has been copied in developing countries around the world. Send IM Story Print News Search Top Stories Asia to be biggest aircraft market by 2029: Airbus India's top court allows 'passive euthanasia' PM favours rate cut for quake-hit New Zealand Bangladesh resumes Microfinance laureate hearing Pietersen adds to World Cup injury woes More Top Stories » ADVERTISEMENT Most Popular Most Viewed World's sixth mass extinction may be underway: study China richest man says work key to easing poverty HSBC rebuffs talk of London exit Libya: live report Charity gala starring Putin 'raised no money': doctors More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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