Thursday, March 10

Govt to search for new GB MD ==> Muhith

FE Report (March 10, 2011)

With regard to the High Court's verdict on the writ petition filed by Dr Muhammad Yunus, Finance Minister Abul Maal Adbul Muhith said Wednesday: "I am happy with the High Court's judgement. Finally, it has been proved what I said earlier was true".

Dr Yunus was removed by Bangladesh Bank (BB) as the managing director of Grameen Bank (GB) on March 2.

The finance minister's comment came on the sidelines of a seminar on the role of Water Resources Ministry in alleviating poverty, food security and national development at a city hotel.

Earlier, soon after Dr Yunus' removal from GB, two writ petitions were filed -- one by the Grameen Bank founder himself and another by nine of its directors -- challenging the legality of the BB order on the removal of the Nobel laureate as managing director of the bank. The High Court (HC) summarily dismissed the writ petition filed by Dr Yunus on March 8. The HC division bench also dismissed the other petition the same day.

Asked on the next course of the government's action, the minister said there are some problems, and the government is working on them.

"A 'search committee' will be formed soon assigning it the task to submit a report to the government. According to per the report of the committee and the recommendations of the board of directors of the GB, it will help in selecting a new Managing Director (MD) of the Grameen Bank," the minister said.

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