Nobel laureate Dr. Muhammad Yunus, widely known as the ‘banker to the poor’ for his significant contributions to poverty alleviation, will serve as the chief adviser to the interim government in Bangladesh. This announcement was made by the coordinators of the student movement that spearheaded the protests leading to Sheikh Hasina’s resignation, as reported by the Daily Star.
In a video posted on social media, Nahid Islam, a key coordinator of the movement, stated that Dr. Yunus had agreed to take on the responsibility due to the country’s current situation. “We have decided that an interim government will be formed, with internationally renowned Nobel Laureate Dr. Muhammad Yunus, who has wide acceptability, as the chief adviser,” Nahid of the Anti-Discrimination Student Movement announced.
This development follows a statement from Bangladesh President Mohammed Shahabuddin, who declared that an interim government would be established after dissolving the Parliament. This decision comes in response to widespread unrest over a controversial quota system in government jobs, which resulted in the downfall of the Hasina regime and over 300 deaths in the month-long protests. The president also ordered the release of former Prime Minister Khaleda Zia.
Dr. Yunus’s high-profile status and perceived close connections with the West, particularly the United States, have led to numerous conflicts with Sheikh Hasina since her return to power in 2008. In 2011, the Hasina-led government reportedly forced him out as managing director of Grameen Bank, citing his age as over the legal retirement limit of 60. A smear campaign also accused him of promoting homosexuality.
Dr. Yunus has faced over 190 legal cases filed by the Hasina government. The 83-year-old Nobel Peace Prize winner, honored in 2006 for his pioneering work in microfinance, helped millions escape poverty through Grameen Bank, which provided small loans to the rural poor, significantly boosting Bangladesh’s economic growth. Earlier this year, Dr. Yunus was convicted of violating the country’s labor laws and was indicted by a Bangladesh court on charges of embezzling $2 million from the workers’ welfare fund of Grameen Telecom, a stakeholder in Grameenphone, the country’s largest mobile phone company.
Born in 1940 in Chittagong, Dr. Muhammad Yunus studied at Dhaka University before moving to the United States to pursue economics at Vanderbilt University. After completing his PhD, he served as an assistant professor at Middle Tennessee State University before returning to Bangladesh to continue his impactful work.
