Nobel laureate Md Yunus removed as Grameen Bank MD

Grameen Bank managing director and Nobel laureate Muhammad Yunus has been relieved of his duties.

Deputy general manager (protocol) of the Bangladesh Bank governor's secretariat A F M Asaduzzaman confirmed the sacking of Yunus to bdnews24.com.

Around 4:45pm on Wednesday, Asaduzzaman said, "Muhammad Yunus has been removed from the post of managing director of Grameen Bank."

"I hope the order to this effect will arrive in a while," he added.

Finance minister Abul Maal Abdul Muhith had on Tuesday confirmed receiving a central bank letter terming holding of office by Yunus illegal.

Muhith, however, declined to comment any further on the issue. "It's a legal issue. There's nothing to be said about it now."

Reports published in various newspapers claimed that the letter cited Article 14(3) of the Grameen Bank Ordinance-1983 and stated that Nobel laureate Yunus should not stay on as the bank's managing director.

The article referred to in the letter specifies the retirement age and deems ineligible people above 60 years of age.

On Feb 15, the finance minister told BBC that Yunus should resign from his position at Grameen Bank. "He has even reached the (retirement) age limit for holding the office of a private bank chief."

Muhith also pointed out that 70-year-old Yunus had already exceeded the age limit, and said that it was time for the Nobel laureate to step down. "No one can stay in an organisation forever."

Norway's national TV NRK aired a documentary on November 30 titled "Fanget i Mikrogjeld" or "Caught in Micro debt", based on which bdnews24.com ran a report on December 1.

According to the documentary, Yunus transferred funds destined for Grameen Bank to Grameen Kalyan, which was in no way involved with micro-credit operations.

Responding to the allegations, Grameen Bank claimed there was no wrongdoing in the agreement between the bank and Grameen Kalyan, under which it received Tk 3,917 million from Grameen Bank.

Nobel laureate Md Yunus removed as Grameen Bank MD

Grameen Bank managing director and Nobel laureate Muhammad Yunus has been relieved of his duties.

Deputy general manager (protocol) of the Bangladesh Bank governor's secretariat A F M Asaduzzaman confirmed the sacking of Yunus to bdnews24.com.

Around 4:45pm on Wednesday, Asaduzzaman said, "Muhammad Yunus has been removed from the post of managing director of Grameen Bank."

"I hope the order to this effect will arrive in a while," he added.

Finance minister Abul Maal Abdul Muhith had on Tuesday confirmed receiving a central bank letter terming holding of office by Yunus illegal.

Muhith, however, declined to comment any further on the issue. "It's a legal issue. There's nothing to be said about it now."

Reports published in various newspapers claimed that the letter cited Article 14(3) of the Grameen Bank Ordinance-1983 and stated that Nobel laureate Yunus should not stay on as the bank's managing director.

The article referred to in the letter specifies the retirement age and deems ineligible people above 60 years of age.

On Feb 15, the finance minister told BBC that Yunus should resign from his position at Grameen Bank. "He has even reached the (retirement) age limit for holding the office of a private bank chief."

Muhith also pointed out that 70-year-old Yunus had already exceeded the age limit, and said that it was time for the Nobel laureate to step down. "No one can stay in an organisation forever."

Norway's national TV NRK aired a documentary on November 30 titled "Fanget i Mikrogjeld" or "Caught in Micro debt", based on which bdnews24.com ran a report on December 1.

According to the documentary, Yunus transferred funds destined for Grameen Bank to Grameen Kalyan, which was in no way involved with micro-credit operations.

Responding to the allegations, Grameen Bank claimed there was no wrongdoing in the agreement between the bank and Grameen Kalyan, under which it received Tk 3,917 million from Grameen Bank.

Ireland make record win and Ireland produced the biggest upset

Ireland produced the biggest upset in this World Cup so far by defeating England by three wickets at Chinnaswamy Stadium on Wednesday.

Chasing 328, Ireland broke the record of highest chase, with five balls to spare, in World Cup previously held by Sri Lanka for their chasing 313 runs against Zimbabwe in 1992.

Meanwhile, Kevin O'Brien (113) scored the fastest World Cup hundred in only 50 deliveries, before being run out, pushing Matthew Haydens 66 ball knock against South Africa during in 2007 in the second place.

Kevin O'Brien stunned England with the fastest hundred in World Cup history as Ireland secured their greatest victory with a monumental three-wicket triumph in Bangalore. O'Brien clubbed a magnificent 113 off 63 deliveries as Ireland earned the highest World Cup run-chase with four balls to spare. After he'd added a match-changing 162 with Alex Cusack, John Mooney joined him to play the innings of his life and help write another famous chapter in Irish sport.

When the partnership was broken with 55 still needed Ireland could have lost their way, especially when O'Brien couldn't get the strike back. However, after struggling to get the ball away Mooney suddenly started locating the boundary, firstly off the outside edge but then with two nerveless drives through the covers, each coming after England had strung together a few dot balls to build pressure. He was the dominant partner in the seven-wicket stand.

Ireland make record win and Ireland produced the biggest upset

Ireland produced the biggest upset in this World Cup so far by defeating England by three wickets at Chinnaswamy Stadium on Wednesday.

Chasing 328, Ireland broke the record of highest chase, with five balls to spare, in World Cup previously held by Sri Lanka for their chasing 313 runs against Zimbabwe in 1992.

Meanwhile, Kevin O'Brien (113) scored the fastest World Cup hundred in only 50 deliveries, before being run out, pushing Matthew Haydens 66 ball knock against South Africa during in 2007 in the second place.

Kevin O'Brien stunned England with the fastest hundred in World Cup history as Ireland secured their greatest victory with a monumental three-wicket triumph in Bangalore. O'Brien clubbed a magnificent 113 off 63 deliveries as Ireland earned the highest World Cup run-chase with four balls to spare. After he'd added a match-changing 162 with Alex Cusack, John Mooney joined him to play the innings of his life and help write another famous chapter in Irish sport.

When the partnership was broken with 55 still needed Ireland could have lost their way, especially when O'Brien couldn't get the strike back. However, after struggling to get the ball away Mooney suddenly started locating the boundary, firstly off the outside edge but then with two nerveless drives through the covers, each coming after England had strung together a few dot balls to build pressure. He was the dominant partner in the seven-wicket stand.

Malinga Made a History

Lasith Malinga announced his return to full fitness by storming his way to an unprecedented second World Cup hat-trick with an exhibition of yorker-on-demand bowling that proved too much for Kenya's tail at the R Premadasa Stadium in Colombo. The visitors imploded to 142 all out despite dogged half-centuries from the Obuya brothers, who enjoyed plenty of fortune in a determined 94-run stand that kept the varied threats of Sri Lanka's bowling at bay for nearly 30 overs. Sri Lanka's batsmen barely had to break a sweat in the chase, finishing it off in 18 overs.

The Obuyas weren't exactly convincing - testing every edge of their bat, surviving close lbw calls, regularly air-driving outside off and rarely reading the spinner's variations - but hung on obdurately to take Kenya into triple-digits. A solid platform was in place when they had hauled Kenya to 102 for 2, but Malinga's burst demolished the tail as the final eight wickets were blasted out for 40 runs. None of the other Kenyan batsmen made it past single-figures.

The Kenyan collapse was rapid: it took only 22 deliveries for them to go from 127 for 4 to being bowled out. Muttiah Muralitharan started it off by getting the set batsman David Obuya to slog-sweep to midwicket.

Then it was Malinga time. Jimmy Kamande barely found his bearings after being struck by a toe-crusher, and decided to go for a single when the ball was only a couple of metres away from him. Chamara Silva pounced from midwicket and did a passable imitation of Jonty Rhodes from 1992 to crash into the stumps and dismiss Kamande.

Malinga Made a History

Lasith Malinga announced his return to full fitness by storming his way to an unprecedented second World Cup hat-trick with an exhibition of yorker-on-demand bowling that proved too much for Kenya's tail at the R Premadasa Stadium in Colombo. The visitors imploded to 142 all out despite dogged half-centuries from the Obuya brothers, who enjoyed plenty of fortune in a determined 94-run stand that kept the varied threats of Sri Lanka's bowling at bay for nearly 30 overs. Sri Lanka's batsmen barely had to break a sweat in the chase, finishing it off in 18 overs.

The Obuyas weren't exactly convincing - testing every edge of their bat, surviving close lbw calls, regularly air-driving outside off and rarely reading the spinner's variations - but hung on obdurately to take Kenya into triple-digits. A solid platform was in place when they had hauled Kenya to 102 for 2, but Malinga's burst demolished the tail as the final eight wickets were blasted out for 40 runs. None of the other Kenyan batsmen made it past single-figures.

The Kenyan collapse was rapid: it took only 22 deliveries for them to go from 127 for 4 to being bowled out. Muttiah Muralitharan started it off by getting the set batsman David Obuya to slog-sweep to midwicket.

Then it was Malinga time. Jimmy Kamande barely found his bearings after being struck by a toe-crusher, and decided to go for a single when the ball was only a couple of metres away from him. Chamara Silva pounced from midwicket and did a passable imitation of Jonty Rhodes from 1992 to crash into the stumps and dismiss Kamande.

Shafiul secures Bangladesh vital victory

Bangladesh's bowlers held their nerve to atone for the failures of their batsman, as the pluck of the Irish proved insufficient to overcome the most fervent atmosphere of the World Cup so far. In a gripping, low-scoring encounter at Mirpur, Bangladesh flirted with disaster as they squandered a flying start from

Tamim Iqbal to crash to 205 all out, and when Ireland reached 93 for 3 at the halfway mark of their reply, they were well on course for a hugely deserved victory. However, six wickets for the Bangladeshi spin quartet set the stage for a flying finish from Shafiul Islam, who claimed 4 for 21 in eight hostile and reverse-swinging overs, to seal a wildly acclaimed victory by 27 runs with five overs to spare.

The result was tough on the Irish who, like the Netherlands earlier in the week, gave the match their all and deserved a Test-playing scalp as their reward. But the belief and unity of the Bangladeshis had to be seen to be believed, as they dusted themselves down after a chastising performance with the bat, and set about defending their meagre total with skill, tenacity and some sublime commitment in the field. Mohammad Ashraful, whose mercurial batting once again let him down when the heat was on, proved a revelation with the ball, as his spin-bowling all-sorts picked up two vital wickets inside the first 19 overs, and whose subsequent celebrations imbued both his team-mates - and perhaps more crucially, a rammed and expectant Mirpur crowd - with belief.

There will be many higher-profile fixtures than this in the coming weeks, but few could prove as pivotal to the fortunes of two teams who exceeded expectations four years ago in reaching the Super Eights in the Caribbean. Ireland's hopes of playing in the 2015 tournament hinge on their ability to produce this sort of performance in each of their next five matches, to convince the ICC that they deserve their place at the top table. But more immediately, Bangladesh's victory gives them a real chance of pushing for a quarter-final place that their form in home internationals suggests could be attainable.

After winning the toss and choosing to bat, Bangladesh started the match with the same aplomb with which they finished, bringing their fans to their feet in a thrilling first four overs, in which Tamim's blistering volley of strokeplay lifted the score to an imposing 41 for 0. However, Ireland are a more resourceful side than meets the eye, and the early decision to reduce the pace on the ball slowly but surely changed the tide of the contest. Trent Johnston and John Mooney drew the sting of the innings with their unrelenting line and length, but it was left to the teenaged spinner George Dockrell to inflict the telling blows.

Dockrell twirled straight through his ten overs, claiming 2 for 23 with a performance brimful of guile. His agonisingly slow pace through the air left all the batsmen groping in their defences, scared of taking on the long straight boundary for fear of being beaten in flight, and his two dismissals were carbon-copies of one another - a crease-bound Mushfiqur Rahim paddle-swept to Andrew White at short backward leg to end a doughty innings of 36, before Ashraful followed suit for 1 in the very next over.

Ireland's commitment in the field was unstinting. Ed Joyce and White pulled off a direct-hit run-out apiece, the first to remove Junaid Siddique for 3 - a dismissal which undermined Bangladesh's early momentum following the loss of the opener Imrul Kayes to an expert leg-side stumping from Niall O'Brien - and the latter to extract Raqibul Hasan for 38, at precisely the moment he looked set to guide the tail to a comfortable 200-plus total. But the one telling shortcoming was the performance of their quickest bowler, Boyd Rankin. His nine overs went for 62 - the most expensive analysis of the day - including a poor final over that went for 11.