Nobel Laureate Yunus Appointed Interim Leader Amid Power Struggle

News Today: Nobel Prize winner Muhammad Yunus named interim leader amid Bangladesh’s turmoil

Nobel laureate Muhammad Yunus, a long-time political foe of Bangladesh Prime Minister Sheikh Hasina, has been named the country’s interim leader as Bangladeshi President Mohammed Shahabuddin dissolves Parliament. This decision follows a meeting between President Shahabuddin, the heads of the armed forces, political party leaders, civil society representatives, and leaders of the Students Against Discrimination movement.

The 84-year-old Yunus was appointed as chief adviser of the interim government a day after Ms. Hasina fled the country following weeks of deadly unrest. Known for his pioneering use of microloans, Yunus has faced political persecution, recently receiving a jail term in a case he describes as politically motivated. The student-led protests, rejecting a military-led government, pushed for Yunus to lead the interim administration.

Yunus expressed his commitment to stepping in, saying, “When the students who sacrificed so much are requesting me to step in at this difficult juncture, how can I refuse?” He is returning to Dhaka from Paris after undergoing a minor medical procedure.

In 1983, Yunus founded Grameen Bank, providing small loans to help poor people start their businesses. His efforts earned him and the bank the Nobel Peace Prize in 2006. Internationally known as the “banker to the poor,” Yunus has faced harsh criticism from Hasina, who accused him of exploiting the poor.

The protests began in early July with peaceful demands from university students to abolish civil service job quotas but evolved into a broader anti-government movement. Over 400 people have died in clashes, with more than 100 killed in a single day of violence. As protesters stormed her residence, Hasina fled to neighboring India, ending nearly 15 years of rule. Prominent opposition figures jailed under her regime have since been released.