More than 170 global leaders and Nobel laureates are urging Bangladesh to suspend legal proceedings against Muhammad Yunus, who was awarded the Nobel Peace Prize for pioneering the use of microcredit to help impoverished people.
FILE- Muhammad Yunus, Nobel Prize Winner and Founder of Grameen Bank, speaks during the opening ceremony for the One Young World summit at Soccer City in Johannesburg, South Africa, Wednesday, Oct. 2, 2013. 160 global leaders including more than 100 Nobel laureates have written an open letter on Monday, Aug. 28, 2023, to the Bangladeshi Prime Minister Sheikh Hasina, urging her to suspend judicial proceedings against Nobel laureate Muhammad Yunus for alleged violation of labor laws.
“We are confident that any thorough review of the anti-corruption and labor law cases against him will result in his acquittal,” it said. In 1983, Yunus founded Grameen Bank, which gives small loans to entrepreneurs who would not normally qualify for bank loans. The bank’s success in lifting people out of poverty led to similar microfinancing efforts in many other countries.
Hasina's government began a review of the bank's activities in 2011, and Yunus was fired as managing director for allegedly violating government retirement regulations. He was put on trial in 2013 on charges of receiving money without government permission, including his Nobel Prize award and royalties from a book.
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