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.