Options Left for Dr. Yunus

Verdict of supreme court has been given and as was predicted it was gone against Dr. Yunus and Board of Directors of Grameen.

Grameen has tried it’s best to mainatin it’s integrity and appeal to the high court against the order of Bangladesh Bank. High Court rejected it’s appeal. Then they appeal at the Supreme Court. Supreme Court also refused to consider their appeal. They appeal for review of the judgment again in the highest court. The lawyers are best of the country. They placed their arguments eloquently but neither the eloquency, nor the logic could change the determination of the judges.

Now, Dr. Yunus will have to leave the post that he was holding for 30 years. In a letter Yunus expressed that he is waiting for the decision of the Board of Directors. According to the Grameen Bank Ordinance,1983 it is the BoDs to decide the next managing director and to place to BB to approve it. It is not the other way round that BB will appoint MD and BoD will approve it. If government does not like to play in the mud, it should leave Grameen Bank to work by its own rule.
There is little chance that Government will nominate Dr. Yunus as the Chairman of Grameen Bank.

Then what is left for Dr.Yunus to do. His legal fight may not yet over. Governmnet may next take steps to incorporate the social enterprizes with Grameen Bank. There are about 44 ‘social business’ companies where Dr. Yunus is working as chairman or director in most of them. As these businesses are associated with different international companies, such as Danone, Adidas, Intel etc, any government attempt will not go unchallenged.

One option for Yunus is to look after the social business companies he has established. His second option is to be appointed as chief executive in an international body that is looking after the poverty alliviation program. UN may think to open an Special Commission to be headed by Dr. Muhammad Yunus that will look after provery alliviation program of different countries including Bangladesh.

The last option for Yunus is to enter into politics. He could only join politics if a social environment is created in Bangladesh to accomodate a person like him in our politics like ELBaradei in Egypt. ElBaradei is also a Nobel laureate.

An ordinary citizen