Yunus loses appeal

Microfinance pioneer and Nobel Prize laureate Muhammad Yunus has lost his appeal to Bangladesh’s high court seeking to overturn the government’s attempt to remove him from a leadership role at Grameen Bank, which provides loans and financial services to the poor.

The AP reports that the move by politicians to oust the anti-poverty advocate “has sparked international concern and threatened to dampen ties between Bangladesh and the United States.”

As the BBC reports, it not exactly clear if Yunus will accept the ruling and step down or launch some other legal battle. Here is the New York Times‘ report on this new development in a long-running battle.

According to Al Ajazeera, Yunus has said he will step down.

Here are some earlier posts on what’s at stake here and why Yunus has become a lightning rod.

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Tom Paulson

Tom Paulson is founder and lead journalist at Humanosphere. Prior to operating this online news site, he reported on science,  medicine, health policy, aid and development for the Seattle Post-Intelligencer. Contact him at tom[at]humanosphere.org or follow him on Twitter @tompaulson.