Bangladesh grants bail to Nobel laureate Muhammad Yunus

AP
Muhammad Yunus founded Grameen Bank, which provides small loans to impoverished people, and shared the 2006 Nobel Peace Prize with the organization. (AP)
  • Muhammad Yunus founded Grameen Bank, which provides small loans to impoverished people
  • He shared the 2006 Nobel Peace Prize with the organization

DHAKA: A court in Bangladesh’s capital has granted bail to micro-credit pioneer and Nobel laureate Muhammad Yunus over the firing of three employees by Grameen Communications, where he is chairman.
Acting Chairman of the 3rd Labor Court in Dhaka, Zakia Parveen, granted the bail on Sunday when Yunus appeared before the court. Last month, the country’s High Court had set a Nov. 7 deadline for him to appear in person.
The labor court had earlier issued an arrest warrant for Yunus after he failed to appear because he was abroad.
The three employees filed the cases in July, saying they were terminated illegally after seeking to form a trade union.
Yunus founded Grameen Bank, which provides small loans to impoverished people, and shared the 2006 Nobel Peace Prize with the organization.

Topics: Muhammad Yunus Grameen