Nobel laureate steps down from post at microfinancing bank

Mohammed Yunus, winner of the 2006 Nobel Peace Prize for fighting poverty, has resigned as managing director of the Grameen Bank on Thursday. Yunus had been battling the Bangladeshi government for control of the bank after they ordered his resignation, on the grounds that the 70-year-old was a decade over the mandatory retirement age. Yunus said in a statement that he stepped down to prevent further disruption to the bank’s operations.

Globe and Mail