Muhammad Yunus, the Nobel laureate from Bangladesh, has been appointed to head the country’s interim government. It comes after former Prime Minister Sheikh Hasina resigned and left the country due to massive protests against her leadership, primarily led by students. The announcement was made early Wednesday by Joynal Abedin, President Mohammed Shahabuddin’s Press Secretary. Abedin also mentioned that the other members of the interim government led by Yunus would be determined after discussions with political parties and other stakeholders.
On Tuesday, the leaders of the student protests, the heads of the country’s three military divisions, civil society members, and some business leaders held a meeting with the President for over five hours to finalize the appointment of the head of the interim administration, Reuters reported.
The students had earlier proposed Yunus and said the 83-year-old microfinance pioneer had agreed. Local media reported that he is expected to return to the country from Paris soon. Following the decision, student leaders left the President’s official house shortly after midnight, satisfied and welcoming it. Nahid Islam, a student group leader, called the talks “fruitful” and said Shahabuddin had agreed that the interim government “will be formed within the shortest time” possible. Shahabuddin also sacked the national Police Chief in the wake of deadly protests that sparked Hasina’s departure and named a replacement, his office said.
Yunus: Hasina critic
Yunus, a prominent critic and political foe of Hasina, hailed her resignation as the country’s “second liberation day”. In response, she had previously referred to him as a “bloodsucker”. Yunus was awarded the Nobel Peace Prize in 2006 as an economist and banker for his groundbreaking work in using microcredit to aid impoverished individuals, especially women. The Nobel Peace Prize committee commended Yunus and his Grameen Bank “for their efforts to foster economic and social development from the grassroots”. Establishing Grameen Bank in 1983 to offer small loans to entrepreneurs who typically wouldn’t qualify, Yunus lifted people out of poverty, inspiring similar microfinance initiatives in other nations.
In 2008, he encountered trouble with Hasina when her administration initiated a series of investigations into him. During the military-backed government’s rule, he had announced his intention to form a political party in 2007 but did not follow it further. During the investigations, Hasina accused Yunus, the head of Grameen Bank, of using force and other means to recover loans from poor rural women. Yunus denied the allegations.
In 2013, he was put on trial for receiving money without government permission, including his Nobel Prize and book royalties. Later, he faced additional charges related to other companies he founded, including Grameen Telecom, part of the country’s biggest mobile phone company, and Grameenphone, a subsidiary of Norwegian telecom giant Telenor. In 2023, former Grameen Telecom employees filed a case against Yunus, accusing him of taking their job benefits. Yunus denied the accusations.
Earlier this year, a special judge’s court in Bangladesh indicted Yunus and 13 others on charges related to a $2 million embezzlement case. Yunus pleaded not guilty and is currently out on bail. His supporters claim that he is being targeted because of his strained relations with Hasina.
Team BharatShakti (With inputs from Reuters)
