Muhammad Yunus Still Head of Grameen Bank

March 2, 2011 - Today’s media reports about Prof. Yunus’ ouster from Grameen Bank are untrue. The reports are based only on statements made by Board chairman Muzammel Huq, a former employee and vocal critic of Prof. Yunus who was appointed chairman of the Grameen Bank board by the Bangladeshi government in January. The Board has rejected his calls for Prof. Yunus to resign, and Prof. Yunus will stay on as managing director, according to the rules of the Bank and with the full support of the vast majority of its Board, while the legal issues surrounding the Bangladesh Bank's claims are examined. For more information, see: http://grameen.com/