Mumbai, August 6: Muhammad Yunus, the Nobel laureate and founder of Grameen Bank, has been appointed the chief adviser to Bangladesh’s interim government after Sheikh Hasina resigned as the Prime Minister and fled the country after violent protests spiralled into chaos on Monday, August 5. The Anti-Discrimination Student Movement's coordinators announced the decision to choose Muhammad Yunus as chief advisor to the Bangladesh interim government on Tuesday.

In a video posted on social media early Tuesday morning, Nahid Islam, a key coordinator of the movement, confirmed that Yunus has agreed to take on this crucial role. The appointment comes in the wake of Prime Minister Sheikh Hasina’s sudden resignation and departure from the country on Monday. Hasina reportedly fled in a military aircraft, leading to a power vacuum that prompted the Army to step in and form an interim government. Scroll down to read more about the Nobel laureate Muhammad Yunus, who has been chosen as the chief advisor to the interim Bangladesh government. Bangladesh Unrest: Student Leaders Call for Nobel Laureate Muhammad Yunus to Head Interim Government After Sheikh Hasina Leaves Country.

Who is Muhammad Yunus?

Born on June 28, 1940, in Chittagong, Muhammad Yunus is a renowned social entrepreneur, banker, economist, and civil society leader. He earned his PhD in economics from Vanderbilt University in 1969 and later served as an assistant professor of economics at Middle Tennessee State University.

Upon returning to Bangladesh, Yunus headed the economics department at Chittagong University. He has been involved in various international advisory groups, including the International Advisory Group for the Fourth World Conference on Women, the Global Commission of Women’s Health, the Advisory Council for Sustainable Economic Development, and the UN Expert Group on Women and Finance. Bangladesh: Nobel Peace Prize Winner Muhammad Yunus Sentenced to Six Months in Jail for Violating Country’s Labour Laws.

'Banker to the Poorest of Poor'

In response to the 1974 famine in Bangladesh, Yunus initiated long-term loans to help individuals start small ventures, leading to the creation of the Grameen Bank. Known as the “banker to the poorest of the poor,” Yunus and the Grameen Bank were awarded the Nobel Prize in 2006 for their work in microcredit and microfinance.

In 2007, Yunus founded a political party named ‘Nagarik Shakti’ but later ruled out any possibility of contesting elections again. Earlier this year, Yunus served a six-month jail term for allegedly violating labour laws and has been charged in over 190 cases by the Awami League government led by Sheikh Hasina.

(The above story first appeared on LatestLY on Aug 06, 2024 12:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).