Microfinance Focus, May 5, 2011: Bangladesh's Apex Court today dismissed the petition of Muhammad Yunus against his dismissed the petition of Muhammad Yunus. After the decision, Prof Yunus has to step down as the Managing Director of the Grameen Bank.

Prof. Yunus filed an appeal after the court in April upheld the decision by the central bank to remove him.

Yunus had founded the Grameen Bank 30 years ago in an effort to provide micro credit to the poor and eliminate poverty. For this noble cause, Yunus and GB had also been awarded the Nobel Peace Prize in the year 2006.

Nobel Laureate, Prof Muhammad Yunus has been sacked from his current position as head of Grameen Bank on March 02 this year.

Yunus has been under attack from Prime Minister Sheikh Hasina since late last year, after the release of a Norwegian documentary that alleged Grameen Bank was dodging taxes.