DHAKA, Bangladesh – Nobel laureate Muhammad Yunus has petitioned Bangladesh's High Court to reverse a government order dismissing him as the head of the microfinance bank he founded.
Lawyer Sara Hossain says Yunus challenged the government order as illegal. The court was to hold a formal hearing later Thursday.
Bangladesh's central bank ordered Yunus out of Grameen Bank on Wednesday, arguing that he violated the country's retirement laws.
The government owns a 25 percent stake in the bank, while the remainder is owned by its borrowers.
Grameen said Yunus would remain in his post.
