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Bangladesh Nobel laureate Muhammad Yunus is perhaps facing one of the worst crises in his professional life. The central bank of that country has ousted the founder and managing director of Grameen Bank on the ground that he has exceeded the official retirement age of 60. The Bangladesh High Court has upheld the decision too, even as Yunus found support from Grameen Bank and from a section of the country's civil society. He has, however, appealed to the Bangladesh Supreme Court against the high court order. Responding to queries from Atmadip Ray, Mr Yunus said he wished to settle the issues with the government across the table.
What happens should the Supreme Court go the same way as the high court? Has the judiciary compromised in any way because of the political diktat?
I hope to have a fair trial. I can only comment after the full court trial, not now. Is the case getting a bit unnecessarily over-politicised? Politics is about how people relate to each other. I wish it was possible to sit down and discuss this with the people in the government who have some issues with me and Grameen Bank.
One of the newspapers reported that the high court verdict has included even the year in which you got the Nobel Prize. Does that make your Nobel award any less noble?
The Nobel committee gave the Nobel Prize to me and Grameen Bank. I was very humbled to receive the prize, because other recipients include very inspiring people and organisations like Nelson Mandela and Doctors Without Borders. I do not think this will tarnish the Nobel Prize, which is so important in helping us to recognise that we can exceed our circumstances and potential, and contribute to humanity.
What is the Grameen Bank management's stance? Are you getting support from other quarters too in this legal battle?
I can't describe to you in words the depth of the support I received from Grameen Bank. I am here today because of the hard work of the 8 million borrowers and 26,000 employees of Grameen Bank. We are a family for almost 34 years. I still hope for justice because of the huge support of the Grameen family. Bangladesh civil society has also raised concerns about this crisis, and they have been quite supportive for the past few months. Many eminent citizens have written statements of support, for which I am grateful. It is also very heartening to have people from all over the world offer their kind and good wishes.
Since we are seeing this from a distance, I would like to know the genesis of the controversy. Was this a sudden development or did the prime minister have any long-drawn reason for being displeased with the performance of Grameen Bank or you?
The allegations surfaced from a documentary aired last year. The documentary was full of false facts and irresponsible insinuations. All the allegations raised in that documentary were rejected by the Norwegian government and they have mentioned that Grameen Bank is one of the most successful development projects of the world.
Grameen Bank has been the role model for micro credit not only in Bangladesh, but also around the world. If you were the winner in the case and continued in the saddle, where would you want to take Grameen Bank?
I will continue to work to make sure that nothing hampers the stability of the bank. Millions of borrowers have brought Grameen Bank to this level through their untiring efforts. But I would want Grameen Bank to move to its next level and enter into insurance, pension funds, second generation issues - young children are coming up and we should try to make them into better citizens to deal with life. I have always dreamed of changing the lives of the people of Bangladesh, especially the youth. We have only achieved partial success as there are still people deprived from their basic needs. I hope that through Grameen Bank, we continue our efforts for a better future.
What is your take on India's microfinance sector?
I feel sorry for the current situation in the microfinance sector in India. But this a passing phase. India will move forward with greater strength in microfinance. One reason for this problem is some of these microfinance programmes have taken a wrong turn. They see microcredit as a money-making opportunity to make profit for them. That has shaken the trust of the people who believed in its mission. We never saw micro-credit as an opportunity to make money out of the poor. So I would urge everyone to keep the interest rate very low and the work should be carried out with utmost compassion towards the poor. That must always be the guiding principle.
With Nobel Prize and your international standing, have you received any offer from other countries to help them out with their respective microcredit programmes?
Yes, I have received many offers. One of Grameen's peer companies, Grameen Trust, is already helping to replicate the Grameen model all over the world. They are already working in 28 countries and currently provide funding, training, technical assistance and other support services to 86 Grameen-type credit and savings programmes.
Source : http://epaper.timesofindia.com
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