DHAKA, (Reuters) – A Bangladeshi court yesterday upheld an order removing Nobel Peace Prize winner Muhammad Yunus as head of the microlending bank he founded, a move his allies say was prompted by a government vendetta over his political ambitions.
Yunus, 70, had been removed as head of Grameen Bank last week by the central bank at the government’s behest on the grounds that he had stayed on past the legal retirement age of 60.
The High Court struck down Yunus’s petition, saying that his serving as the bank’s managing director beyond age 60 was illegal. “Hence he must vacate the post,” the court added.
