Skip to content
Search

Latest Stories

Nobel laureate Yunus facing over 100 Bangladesh lawsuits

Bangladeshi Nobel laureate Muhammad Yunus is facing more than 100 lawsuits from disgruntled employees at the telecoms unit of his poverty-busting microfinance Grameen Bank, lawyers said Thursday.

The cases filed against him and other senior managers in a Dhaka court relate to claims from Grameen Telecom (GT) employees for a share of profits, their lawyer Jafrul Hasan Sharif said.


Yunus has faced mounting legal problems in recent years. In 2011 he was sacked as head of Grameen Bank in a move his supporters said was orchestrated by Prime Minister Sheikh Hasina.

"According to Bangladesh's Worker's Profit Participation law, Yunus's Grameen Telecom was bound to share five percent of the company's profit with the workers," lawyer Hasan said.

"But for the last 10 years, the GT didn't do so."

Grameen Telecom operates a service called "Village Phone" dedicated to getting cellphones to the rural poor in the South Asian nation of 165 million people.

The company also owns a 34.2-percent stake in GrameenPhone, Bangladesh's largest mobile phone operator with some 75 million subscribers.

Yunus, 79, who founded Grameen Bank in the 1980s and was awarded the Nobel Peace Prize in 2006, could not be reached on Thursday.

A spokesperson declined to comment.

Last month the economist was granted bail by a labour court after an arrest warrant was issued when he failed to appear at a hearing in a separate case.

He has been at odds with premier Hasina since a brief and unsuccessful foray into Bangladesh's fiery, high-risk political scene in 2007.

Hasina has accused him of "sucking blood" from the poor amid allegations his bank charges interest rates of around 20 percent.

In 2013, he was the subject of a state-backed hate campaign that painted him as un-Islamic and a spreader of homosexuality, which is illegal in Bangladesh.

More For You

Anthony Williams

Anthony Williams was charged ywith ten counts of attempted murder after a 14-minute knife attack on a London-bound train from Doncaster on Saturday evening. (Photo: X)

X

Huntingdon train stabbings: Suspect linked to earlier knife incidents

POLICE are facing questions after the suspect in the Huntingdon train stabbings was linked to several knife incidents in the 24 hours before the attack.

Anthony Williams, 32, was charged ywith ten counts of attempted murder after a 14-minute knife attack on a London-bound train from Doncaster on Saturday evening.

Keep ReadingShow less