Father of micro finance Mohommad Yunus asked to quit Grameen Bank

Dhaka, Feb.22 (ANI): Nobel peace laureate and micro credit pioneer Muhammad Yunus is facing calls to quit as Grameen Bank Managing Director.

His supporters believe that the attempt to remove the 70-year old is politically motivated by the Bangladesh government as they want to bring Grameen under government control, reports The Guardian

Bangladesh Finance Minister Abul Maal Abdul Muhith, said: "Yunus should stand down following alleged irregularities in operations."

He called Yunus "man of high standing and respect" but "now old".

He further added, "We need to redefine the bank's role and bring it under closer regulation."

Yunus told reporters that "Any transition essentially require a friendly environment and support from the inside and outside stakeholders of the bank to ensure that we continue to be totally committed to our mission for and with the poor."

The Grameen Bank, created in 1983 by Yunus gives small sum of money to millions of poor and marginalised people to run their own businesses.

According to supporters Yunus had been in trouble since he tried to establish a political party several years ago to fight corruption in Bangladesh.

An international campaign to defend Yunus has been launched. (ANI)