In support of Prof. Yunus

Prof. Yunus is the founder of Grameen Bank and not just like any other MD of a private corporation. Moreover, Grameen is a specialized bank to serve the poor only & can operate only in the villages.

Also, it is owned by the poor borrowers with 75% share & 96.5% paid up capital;the government is own 25% shares but only have 3.5% paid up capital. Directors can only appoint the MD with approval from Bangladesh Bank. 9 elected directors of the GB want Prof. Yunus to stay as MD till further decisions. BB knew this decision for more than a decade & has not objected. If it doesn't have power to appoint, then how it can sack MD.

Moreover, there is no show cause notice either which is the normal procedure. If BB had objected the Board's decision, it would have in a position to clarify the reasons of the decision. Is seems ridiculous that 3.5% equity shareholder has the right to undo the unanimous decisions of the majority shareholders having 96.5% equity.