Explained: Why is Nobel Laureate Muhammad Yunus facing arrest in Bangladesh? | Explained News, The Indian Express

Explained: Why is Nobel Laureate Muhammad Yunus facing arrest in Bangladesh? | Explained News, The Indian Express

Edited by Explained Desk |New Delhi |Published: October 12, 2019 4:36:43 pm

Explained: Why is Nobel Laureate Muhammad Yunus facing arrest in Bangladesh?

Yunus founded the Grameen Bank on the principles of “trust and solidarity” to provide micro-credit without collateral to the “poorest of the poor” in rural Bangladesh.

Yunus was awarded the Nobel Peace Prize along with the Grameen Bank in 2006 for their contribution “to create economic and social development from below”. (File)

A labour court in Dhaka this week issued a warrant of arrest against the Nobel Prize-winning Bangladeshi economist Muhammad Yunus after he failed to appear at a hearing over the sacking of three workers at Grameen Communications, which is the IT wing of Grameen Bank, the organisation Yunus founded in 1983.