Who's Muhammad Yunus, likely chief adviser of Bangladesh's interim government
In the wake of Prime Minister Sheikh Hasina's resignation, Bangladesh's Anti-Discrimination Student Movement has proposed Nobel Peace Prize laureate Muhammad Yunus as the chief advisor for an interim government. The student leaders announced their preference for Yunus in a video released early Tuesday morning. Nahid Islam—a key figure in the movement—said, "Any government other than the one we recommended would not be accepted. We wouldn't accept any army-supported or army-led government." Notably, Yunus has accepted to take on the role.
Who's Muhammad Yunus
Born on June 28, 1940, in Chittagong, Bangladesh, Yunus pursued higher education in the United States on a Fulbright scholarship. After earning a PhD in Economics, he returned to Bangladesh shortly after its independence from Pakistan in 1971. He served as the head of the Economics Department at Chittagong University and was deeply affected by the severe poverty and famine plaguing his nation.
Yunus's contribution to poverty alleviation
According to reports, Yunus's concern for his nation led him to experiment with providing small loans to impoverished individuals who lacked access to traditional banking services. This initiative resulted in the establishment of Grameen Bank in 1983, which offered microloans to help people invest in small businesses and improve their living conditions. The bank's innovative model has been replicated globally as a powerful tool for poverty alleviation.
Global recognition
In 2006, Yunus and Grameen Bank were awarded the Nobel Peace Prize for their efforts to create economic and social development from below. Despite his global acclaim, Yunus has faced significant challenges in his home country. His relationship with ousted PM Hasina has been contentious, with the leader publicly criticizing Yunus's microfinance practices. In 2011, he was removed from his position as the managing director of Grameen Bank on grounds of exceeding the legal retirement age.
Other notable contributions
Beyond his work with Grameen Bank, Yunus co-founded Yunus Social Business—Global Initiatives (YSB) in 2011, which works to create and empower social businesses worldwide. He also served as the Chancellor of Glasgow Caledonian University in Scotland from 2012 to 2018 and was a board member of the United Nations Foundation from 1998 to 2021. His contributions have earned him several prestigious awards including the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010.
