1-MIN READ

Bangladesh Nobel Laureate Muhammad Yunus Apologises for Labour Laws Violation

Bangladeshi Nobel Laureate Muhammad Yunus, the founder of Grameen Bank in Bangladesh. (Image: AP)

Bangladeshi Nobel Laureate Muhammad Yunus, the founder of Grameen Bank in Bangladesh. (Image: AP)

The 2006 Nobel Peace Prize winner, whose pioneering micro-lender has been hailed for cutting poverty across the globe, admitted a social business firm he set up had broken labour laws, officials said.

  • PTI Dhaka
  • Last Updated: March 11, 2020, 11:09 PM IST
Share this:

Bangladesh Nobel laureate Muhammad Yunus has been fined USD 88 after pleading guilty and apologising for violating the country's labour laws, court officials said on Wednesday.

The 2006 Nobel Peace Prize winner, whose pioneering micro-lender has been hailed for cutting poverty across the globe, admitted a social business firm he set up had broken labour laws, officials said.

"Yunus and three other senior officials of Grameen Communications formally apologised to the labour court for the violations. They were acquitted, but each paid a fine of 7,500 taka (USD 88)," a court official told AFP.

"The defendants have admitted guilt of committing the crime and prayed for relief from the liability of the case along with apologies," court documents said.

"The defendants... are now relieved of the charges and the case is now considered resolved."

Yunus has faced mounting legal problems in recent years, but last month's trial was the first time the 79-year-old economist turned globe-trotting celebrity speaker had pleaded guilty.

In 2011 he was sacked as head of Grameen Bank in a move his supporters said was orchestrated by Bangladesh Prime Minister Sheikh Hasina, who accused him of "sucking blood" from the poor with high interest rates.

He founded Grameen Bank in the 1980s and shared the Nobel prize with the micro-lender.

Next Story
Loading