Clickmen
- Nobel laureate Muhammad Yunus has been chosen because the non permanent head of the Bangladeshi authorities following longtime Prime Minister Sheikh Hasina’s ouster.
- Yunus, who based regional microfinance large Grameen Bank, will serve in a caretaker place till new elections are held.
- Yunus, 84, is a longtime foe of the Hasina authorities. He has been the goal of a number of state-led corruption investigations.
Bangladesh’s Nobel laureate Muhammad Yunus has been chosen to go the nation’s interim authorities after the nation’s longtime prime minister resigned and fled overseas within the face of violent unrest in opposition to her rule.
Known because the “banker to the poorest of the poor” and a longtime critic of the ousted Sheikh Hasina, Yunus will act as a caretaker premier till new elections are held. The resolution adopted a gathering late Tuesday that included pupil protest leaders, army chiefs, civil society members and enterprise leaders.
Hasina was pressured to flee on Monday after weeks of protests over a quota system for allocating authorities jobs became a broader problem to her 15-year rule, which was marked by a rising financial system however an more and more authoritarian streak.
BANGLADESH PM RESIGNS, LEAVES COUNTRY AFTER RESIDENCE IS STORMED BY PROTESTERS, ENDING 15-YEAR RULE
Hasina’s departure has plunged bangladesh right into a political disaster. The military has briefly taken management, however it’s unclear what its function could be in an interim authorities after the president dissolved Parliament on Tuesday to pave the best way for elections.
Student leaders who organized the protests have needed Yunus, who’s at present in Paris for the Olympics as an adviser to its organizers, to steer an interim authorities.
He couldn’t instantly be reached for remark, however key pupil chief Nahid Islam asserted that Yunus agreed to step in throughout a dialogue with them. The 83-year-old is a well known critic and political opponent of Hasina.
Yunus referred to as her resignation the nation’s “second liberation day.” She as soon as referred to as him a “bloodsucker.”
An economist and banker by career, Yunus was awarded the Nobel Peace Prize in 2006 for pioneering the usage of microcredit to assist impoverished individuals, notably girls. The Nobel Peace Prize committee credited Yunus and his Grameen Bank “for their efforts to create economic and social development from below.”
FILE- Nobel Peace Prize laureate Muhammad Yunus smiles as he arrives to look earlier than a labor courtroom in Dhaka, Bangladesh, Sunday, Jan. 28, 2024. (AP Photo/Mahmud Hossain Opu, File)
Yunus based Grameen Bank in 1983 to supply small loans to entrepreneurs who wouldn’t usually qualify to obtain them. The financial institution’s success in lifting individuals out of poverty led to related microfinancing efforts in different nations.
He bumped into bother with Hasina in 2008, when her administration launched a sequence of investigations into him. He had introduced he would type a political celebration in 2007 when the nation was run by a military-backed authorities however didn’t comply with via.
During the investigations, Hasina accused Yunus of utilizing pressure and different means to get well loans from poor rural girls as the pinnacle of Grameen Bank. Yunus denied the allegations.
Hasina’s authorities started reviewing the financial institution’s actions in 2011, and Yunus was fired as managing director for allegedly violating authorities retirement rules. He was placed on trial in 2013 on prices of receiving cash with out authorities permission, together with his Nobel Prize and royalties from a guide.
He later confronted extra prices involving different firms he created, together with Grameen Telecom, which is a part of the nation’s largest cell phone firm, GrameenCellphone, a subsidiary of Norwegian telecom large Telenor. In 2023, some former Grameen Telecom staff filed a case in opposition to Yunus accusing him of siphoning off their job advantages. He denied the accusations.
Earlier this yr, a particular decide’s courtroom in Bangladesh indicted Yunus and 13 others on prices over the $2 million embezzlement case. Yunus pleaded not responsible and is out on bail for now.
Yunus’ supporters say he has been focused due to his frosty relations with Hasina.
Yunus was born in 1940 in Chittagong, a seaport metropolis in Bangladesh. He acquired his PhD from Vanderbilt University within the United States and taught there briefly earlier than returning to Bangladesh.
In a 2004 interview with The Associated Press, Yunus stated he had a “eureka movement” to determine Grameen Bank when he met a poor girl weaving bamboo stools who was struggling pay her money owed.
CLICK HERE TO GET THE FRESH NEWS APP
“I couldn’t understand how she could be so poor when she was making such beautiful things,” he recalled within the interview.
