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Garmeen was a pioneer in issuing small loans to the poor as a way to overcome poverty, earning it and Yunus the 2006 Nobel Peace Prize. It has about 9 million borrowers, mostly women. Prime Minister Sheikh Hasina's administration ousted Yunus, 71, as managing director of Grameen Bank last year in a dispute over retirement age. Yunus argued he was exempt from regulations that set the retirement age at 60 but lost a court appeal. Yunus has had frosty relations with Hasina. She was reportedly angered by Yunus' 2007 attempt to form his own political party backed by the powerful army when the country was under a state of emergency and Hasina herself was behind bars.
[Associated
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