25 Apr '11, 8am

Bangladesh probe clears Yunus of misusing aid

Bangladesh probe clears Yunus of misusing aid

DHAKA: A Bangladeshi probe has cleared Nobel laureate Muhammad Yunus of misappropriating Norwegian aid money at the pioneering microfinance bank he founded, the country's finance minister announced Monday. But the bank is still awaiting a final decision on a separate government claim that Yunus was illegally reappointed managing director, with the Supreme Court due to review an order for his dismissal on May 2. Yunus has been under fire since last December when a Norwegian documentary claimed $96 million of aid had been diverted from Grameen Bank, which provides small loans to the poor, to other parts of Grameen group. Norway cleared Yunus of wrongdoing but the 70-year-old, who won the 2006 Nobel Peace Prize, was accused of "sucking blood from the poor" by Bangladeshi Prime Minister Sheikh Hasina and his bank was subject to a government probe. "The probe has accepted that ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific/vi...

Tweets

Yunus issues plea for independence of Grameen Bank #microfinance

Yunus issues plea for independence of Grameen B...

straitstimes.com 07 May '11, 9am

'I am humbly appealing to all for the protection and independence of Grameen Bank and the protection of poor women who are...

Imagine being confined to 1 room for years> Imm...

todayonline.com 27 Apr '11, 1pm

SINGAPORE - Two months after a fund for the elderly immobile was unveiled in the Government's Budget, the first of the S$1...