Muhammad Yunus, the Nobel Peace Prize-winning economist and founder of Grameen Bank, is set to be sworn in as the head of Bangladesh’s interim government on Thursday, following the ousting of four-time Prime Minister Sheikh Hasina, who has reportedly fled the country.
Dr. Yunus, 84, was chosen by the organizers of the Anti-Discrimination Student Movement, which led the mass protests that resulted in Hasina’s removal from power. The movement’s leadership, along with political figures and President Shahabuddin, agreed on Yunus as the best candidate to lead the caretaker government.
Speaking to reporters before departing Paris for Dhaka, Yunus expressed his readiness to return home and help navigate the country through its current political crisis. His appointment marks a significant moment in Bangladesh’s history, as he is widely known for his work in social reform and poverty alleviation through microfinance.
Born in Chittagong in 1940, Yunus has had a long career as an economist, educator, and social entrepreneur. He founded Grameen Bank in 1983, pioneering the concept of microcredit to support impoverished communities in Bangladesh. His work earned him the Nobel Peace Prize in 2006, among many other accolades.
Yunus has long been a critic of Hasina, who accused him of exploiting the poor through his microcredit initiatives. Despite facing numerous legal challenges and being ousted from Grameen Bank in 2011, Yunus has remained an influential figure both domestically and internationally.
As he prepares to lead the interim government, Yunus has referred to Hasina’s ousting as a “second liberation” for Bangladesh, drawing parallels to the country’s independence from Pakistan in 1971. His return to the political stage is seen as a pivotal moment for Bangladesh as it navigates this period of transition.
Dr. Yunus is expected to be sworn in later this evening in Dhaka, with hundreds of dignitaries in attendance. His leadership will be closely watched as the country prepares for new elections and seeks stability after weeks of political turmoil.