Bangladesh orders graft probe into Nobel laureate Yunus

[Black_cats]

Bangladesh orders graft probe into Nobel laureate Yunus​

AFP
28 July 2022
898

Muhammed Yunus is the founding chair of Grameen Telecom, which owns a multi-billion dollar stake in Bangladesh’s largest mobile phone operator. (AFP)

• Nobel peace laureate has been feted internationally for his efforts to eradicate poverty
• But his reputation at home has been tarnished by a labor dispute

DHAKA: Bangladesh has launched a corruption probe into Nobel peace laureate and microfinance pioneer Muhammad Yunus over accusations of embezzlement at a telecoms firm he chairs, the country’s graft watchdog said Thursday.

Yunus, 82, has been feted internationally for his efforts to eradicate poverty but his reputation at home has been tarnished by a labor dispute and a long-running feud with Prime Minister Sheikh Hasina.

The Anti-Corruption Commission said it was investigating the economist and other members of the Grameen Telecom (GT) board over allegations they had embezzled a share of profits meant to go to the firm’s employees.

“The commission has reviewed the allegation made by the factory inspection department against Grameen Telecom and has decided to investigate,” agency secretary Md. Mahbub Hossain told reporters.

The telco’s board is also accused of laundering and embezzling 29.77 billion taka ($315 million) and stealing another $5 million dollars meant for a labor welfare fund.

There was no immediate comment from Yunus.
Bangladeshi labor law requires all enterprises to give a five percent profit share to employees.

The probe comes just months after GT agreed to pay $50 million to settle a long-running legal dispute by disgruntled employees, who had filed more than 100 lawsuits claiming they had been deprived of the payments.

Yunus is the founding chair of Grameen Telecom, which owns a multi-billion dollar stake in Bangladesh’s largest mobile phone operator.

He has been credited with helping eradicate extreme poverty in Bangladesh by offering microfinance loans to tens of millions of rural women through Grameen Bank, which he founded in the 1980s.

He was awarded the 2006 Nobel Peace Prize for his work promoting economic development.

But despite his status as a globe-trotting celebrity speaker, Yunus has faced a series of troubles at home in recent years.

He was forced from his position as Grameen Bank’s managing director in 2011 in a move his supporters blamed on conflict with Prime Minister Hasina.

Yunus lost a subsequent challenge to his removal in the courts and was criticized by Hasina, who accused him of “sucking blood” from the poor with high interest rates.

Hasina has also blamed Yunus for a decision by the World Bank to cancel a planned $1.2 billion loan for a bridge near the capital Dhaka.

Yunus has consistently denied influencing the lender’s decision on the project, which became embroiled in a bribery scandal.

The bridge was finally opened last month after years of construction delays, and Hasina took the occasion to say Yunus should be “dipped in a river” for jeopardizing its completion.

Bangladesh orders graft probe into Nobel laureate Yunus

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www.arabnews.com

 

[VikingRaider]

@BananaRepublicUK , Bhaijan eibar o ki Kisu mone hoy na? Achomka Younus er pichhone lagar karon bujhen nai?

Prothom e Grameen er sim bikri off ,then ei jinis?

However in this fight I'm against Younus!

 

[bluesky]

Bangladesh orders graft probe into Nobel laureate Yunus​

AFP
28 July 2022
898

Muhammed Yunus is the founding chair of Grameen Telecom, which owns a multi-billion dollar stake in Bangladesh’s largest mobile phone operator. (AFP)

• Nobel peace laureate has been feted internationally for his efforts to eradicate poverty
• But his reputation at home has been tarnished by a labor dispute

DHAKA: Bangladesh has launched a corruption probe into Nobel peace laureate and microfinance pioneer Muhammad Yunus over accusations of embezzlement at a telecoms firm he chairs, the country’s graft watchdog said Thursday.

Yunus, 82, has been feted internationally for his efforts to eradicate poverty but his reputation at home has been tarnished by a labor dispute and a long-running feud with Prime Minister Sheikh Hasina.

The Anti-Corruption Commission said it was investigating the economist and other members of the Grameen Telecom (GT) board over allegations they had embezzled a share of profits meant to go to the firm’s employees.

“The commission has reviewed the allegation made by the factory inspection department against Grameen Telecom and has decided to investigate,” agency secretary Md. Mahbub Hossain told reporters.

The telco’s board is also accused of laundering and embezzling 29.77 billion taka ($315 million) and stealing another $5 million dollars meant for a labor welfare fund.

There was no immediate comment from Yunus.
Bangladeshi labor law requires all enterprises to give a five percent profit share to employees.

The probe comes just months after GT agreed to pay $50 million to settle a long-running legal dispute by disgruntled employees, who had filed more than 100 lawsuits claiming they had been deprived of the payments.

Yunus is the founding chair of Grameen Telecom, which owns a multi-billion dollar stake in Bangladesh’s largest mobile phone operator.

He has been credited with helping eradicate extreme poverty in Bangladesh by offering microfinance loans to tens of millions of rural women through Grameen Bank, which he founded in the 1980s.

He was awarded the 2006 Nobel Peace Prize for his work promoting economic development.

But despite his status as a globe-trotting celebrity speaker, Yunus has faced a series of troubles at home in recent years.

He was forced from his position as Grameen Bank’s managing director in 2011 in a move his supporters blamed on conflict with Prime Minister Hasina.

Yunus lost a subsequent challenge to his removal in the courts and was criticized by Hasina, who accused him of “sucking blood” from the poor with high interest rates.

Hasina has also blamed Yunus for a decision by the World Bank to cancel a planned $1.2 billion loan for a bridge near the capital Dhaka.

Yunus has consistently denied influencing the lender’s decision on the project, which became embroiled in a bribery scandal.

The bridge was finally opened last month after years of construction delays, and Hasina took the occasion to say Yunus should be “dipped in a river” for jeopardizing its completion.

Bangladesh orders graft probe into Nobel laureate Yunus

Get the latest breaking news and headlines from the largest Arab News website. Get world news, sport news, business news, entertainment, lifestyle, video and photos.

www.arabnews.com

Joy Bangladesh!! Joy Bangla!! Jay Hindustan and Jay Hasina Bibi!!

Hasina Bibi seems to be very worried about Dr. Yunus coming back in the politics of the country. So, a trembling Hasina is taking steps that will actually cause her own downfall. A sure defeat for her in the next election.

 

[fallstuff]

Bangladesh orders graft probe into Nobel laureate Yunus​

AFP
28 July 2022
898

Muhammed Yunus is the founding chair of Grameen Telecom, which owns a multi-billion dollar stake in Bangladesh’s largest mobile phone operator. (AFP)

• Nobel peace laureate has been feted internationally for his efforts to eradicate poverty
• But his reputation at home has been tarnished by a labor dispute

DHAKA: Bangladesh has launched a corruption probe into Nobel peace laureate and microfinance pioneer Muhammad Yunus over accusations of embezzlement at a telecoms firm he chairs, the country’s graft watchdog said Thursday.

Yunus, 82, has been feted internationally for his efforts to eradicate poverty but his reputation at home has been tarnished by a labor dispute and a long-running feud with Prime Minister Sheikh Hasina.

The Anti-Corruption Commission said it was investigating the economist and other members of the Grameen Telecom (GT) board over allegations they had embezzled a share of profits meant to go to the firm’s employees.

“The commission has reviewed the allegation made by the factory inspection department against Grameen Telecom and has decided to investigate,” agency secretary Md. Mahbub Hossain told reporters.

The telco’s board is also accused of laundering and embezzling 29.77 billion taka ($315 million) and stealing another $5 million dollars meant for a labor welfare fund.

There was no immediate comment from Yunus.
Bangladeshi labor law requires all enterprises to give a five percent profit share to employees.

The probe comes just months after GT agreed to pay $50 million to settle a long-running legal dispute by disgruntled employees, who had filed more than 100 lawsuits claiming they had been deprived of the payments.

Yunus is the founding chair of Grameen Telecom, which owns a multi-billion dollar stake in Bangladesh’s largest mobile phone operator.

He has been credited with helping eradicate extreme poverty in Bangladesh by offering microfinance loans to tens of millions of rural women through Grameen Bank, which he founded in the 1980s.

He was awarded the 2006 Nobel Peace Prize for his work promoting economic development.

But despite his status as a globe-trotting celebrity speaker, Yunus has faced a series of troubles at home in recent years.

He was forced from his position as Grameen Bank’s managing director in 2011 in a move his supporters blamed on conflict with Prime Minister Hasina.

Yunus lost a subsequent challenge to his removal in the courts and was criticized by Hasina, who accused him of “sucking blood” from the poor with high interest rates.

Hasina has also blamed Yunus for a decision by the World Bank to cancel a planned $1.2 billion loan for a bridge near the capital Dhaka.

Yunus has consistently denied influencing the lender’s decision on the project, which became embroiled in a bribery scandal.

The bridge was finally opened last month after years of construction delays, and Hasina took the occasion to say Yunus should be “dipped in a river” for jeopardizing its completion.

Bangladesh orders graft probe into Nobel laureate Yunus

Get the latest breaking news and headlines from the largest Arab News website. Get world news, sport news, business news, entertainment, lifestyle, video and photos.

www.arabnews.com

Yunus is no threat to her, Hasina is pretty paranoid about him.

 

[VikingRaider]

Joy Bangladesh!! Joy Bangladesh!! Jay Hindustan and Jay Hasina Bibi!!

Hasina Bibi seems to be very worried about Dr. Yunus coming back in the politics of the country. So, a trembling Hasina is taking steps that will more cause her own downfall.

Who said that Younus will come in politics? He doesn't have that supporter base! The rumor is , he will grab power as head of a technocrat govt; like Fakhruddin!

 

[EasyNow]

At 82, Yunus is irrelevant. At his peak, he cultivated a close relationship with the Clinton govt, particularly Hillary and tried to turn that into a political career in BD.

He is just like every wannabe politician - an opportunist and greedy to the core.

He projects the image of a philanthropist - but the reality is that he has consistently exploited the poor - the $50m dispute with workers is a real one and proof of this.

Hasina has outplayed him - he has zero credibility today - while Hasinas stock is higher than ever.

 

[Bengal71]

At 82, Yunus is irrelevant. At his peak, he cultivated a close relationship with the Clinton govt, particularly Hillary and tried to turn that into a political career in BD.

He is just like every wannabe politician - an opportunist and greedy to the core.

He projects the image of a philanthropist - but the reality is that he has consistently exploited the poor - the $50m dispute with workers is a real one and proof of this.

Hasina has outplayed him - he has zero credibility today - while Hasinas stock is higher than ever.

Yeah, never liked that guy.

 

[BananaRepublicUK]

@BananaRepublicUK , Bhaijan eibar o ki Kisu mone hoy na? Achomka Younus er pichhone lagar karon bujhen nai?

Prothom e Grameen er sim bikri off ,then ei jinis?

However in this fight I'm against Younus!

This dude is a western stooge!

Modern day Mir Jafar!

 

[bluesky]

At 82, Yunus is irrelevant. At his peak, he cultivated a close relationship with the Clinton govt, particularly Hillary and tried to turn that into a political career in BD.

He is just like every wannabe politician - an opportunist and greedy to the core.

He projects the image of a philanthropist - but the reality is that he has consistently exploited the poor - the $50m dispute with workers is a real one and proof of this.

Hasina has outplayed him - he has zero credibility today - while Hasinas stock is higher than ever.

It seems you have suggested a real fair election under a caretaker govt. If so, let us see which group of politicians wins the election.

Hasina must prove her popularity in such a type of election.

 

[EasyNow]

It seems you have suggested a real fair election under a caretaker govt. If so, let us see which group of politicians wins the election.

Hasina must prove her popularity in such a type of election.

I'm suggesting nothing of the sort - Bangladeshi elections have always been dodgy. I am happy with stability for now.

If there is a credible opposition that can get the ground support going, then they can get their voice heard and AL will have to listen - but there exists nothing like that.

 

[bluesky]

I'm suggesting nothing of the sort - Bangladeshi elections have always been dodgy. I am happy with stability for now.

If there is a credible opposition that can get the ground support going, then they can get their voice heard and AL will have to listen - but there exists nothing like that.

It is your personal choice whether you are happy with the midnight elections. However, a country cannot be said stabilized with such kind of election.

What you guys assume as development under an autocracy is not development at all. You will see this when the country will be paying $5 billion each year to repay the loans. This year, it is probably $2.5 billion that will increase mostly after 2026.

A country's population must be utilized to build a country, and not by borrowing and stealing money.

 

[VikingRaider]

This dude is a western stooge!

Modern day Mir Jafar!

Agree!

 

[EasyNow]

It is your personal choice whether you are happy with the midnight elections. However, a country cannot be said stabilized with such kind of election.

What you guys assume as development under an autocracy is not development at all. You will see this when the country will be paying $5 billion each year to repay the loans. This year, it is probably $2.5 billion that will increase mostly after 2026.

A country's population must be utilized to build a country, and not by borrowing and stealing money.

Yes and do you think all those mid-day elections that BNP/Jamaat won created any development? We have almost nothing to show for that entire era. And we had massive debts then too.

 

[BananaRepublicUK]

Yes and do you think all those mid-day elections that BNP/Jamaat won created any development? We have almost nothing to show for that entire era. And we had massive debts then too.

BD elections, under AL, will be as fair as US elections.

Meaning the party with the largest share of the vote will not take the presidency or congress.

Like the US, certain groups will be barred from voting as well.

 

[bluesky]

Yes and do you think all those mid-day elections that BNP/Jamaat won created any development? We have almost nothing to show for that entire era. And we had massive debts then too.

So, please say what development are you talking about here. I can see BD overseas borrowing will shortly reach $130 billion. Its domestic borrowing has already reached $78 billion. The overseas repayment will be in between $4 to $5 billion per year after 2026.

This year, it is already $2.5 billion and people are crying without electricity. No money to buy oil/ gas. However, domestic borrowing will not have that much of adverse effects.

Borrow and build is no prescription for development. If you think it is the correct method, please cite the name of just one single country that has developed this method.

Just one country, please!!!