Yunus gets support from Indian peers
More than one hundred microfinance practitioners and experts of India have expressed their full support for Grameen Bank founder Prof Muhammad, saying the genius and vision of the Nobel laureate will be hard to replace.
Sa-dhan (The Association of Community Development Finance Institutions), one of the largest microfinance networks in India, in a statement said the removal of Yunus from Grameen Bank has pained people of the microfinance sector all across the world.
"In the specific context of Bangladeshi microfinance in general and Grameen Bank in particular this has been a great loss," said the statement that carried signatures of 108 microfinance practitioners and experts.
The Indian microfinance sector also did not remain un-influenced by the 'Grameen story' and the model was replicated or adopted in different variants by many of the microfinance institutions, the signatories said.
"Inspired by the great visionary that he is, many people in the development sector started working in the field of microfinance towards expanding the financial services to the poor, for better livelihoods, better income and quality of life," the statement added.
The recognition of microfinance efforts as a development tool in different countries is a result of Yunus' influence, the statement noted.
"We, in India, stand in solidarity with Prof Yunus, Grameen Bank and the Bangladeshi microfinance sector. Prof Yunus has been a source of strength and inspiration to us, as we went about establishing our own nascent microfinance movement," the signatories said.
In conclusion, Yunus' Indian supporters said, "We need him now, more than ever to help guide us in our search for improved products, services and delivery models to bring meaningful change to the lives of the poor and downtrodden."
Dr Yunus is currently opposing, at the Bangladesh Supreme Court, a Bangladesh Bank decision to remove him from the position of managing director of Grameen Bank.