The Chairman of Grameen Bank has told the press today that the Central Bank has removed Professor Muhammad Yunus (Nobel Peace Prize Winner 2006) as managing director of Grameen Bank. This is a legal issue. The Hon'ble Finance Minister has himself stated yesterday that it is a legal issue. Grameen Bank is taking legal advice. It is also examining all the legal aspects of this issue. Grameen Bank has been duly complying with all applicable laws. It has also complied with the law in respect of appointment of the managing director. According to the Bank's Legal Advisors, the founder of Grameen Bank, Nobel Laureate Professor Muhammad Yunus, is accordingly continuing in his office.