Nobel laureate Muhammad Yunus, a longstanding adversary of Bangladesh’s ousted Prime Minister Sheikh Hasina, has been named the interim leader of the country. The 84-year-old was appointed shortly after Ms. Hasina fled the country following weeks of deadly protests that culminated in her resignation.
Although Nobel laureate Muhammad Yunus is celebrated for his groundbreaking work with microloans, Ms. Hasina viewed him as an enemy. He is currently out on bail, appealing a six-month jail sentence in a case he claims is politically motivated.
The student leaders behind the mass protests that led to Ms. Hasina’s ouster refused a military-led government and advocated for Nobel laureate Muhammad Yunus to lead the interim administration. His appointment as chief adviser of the interim government was decided after a meeting between President Mohammed Shahabuddin, military leaders, and student leaders.
“When the students who have sacrificed so much request me to step in during this difficult time, how can I refuse?” Prof. Yunus remarked. He is expected to return to Dhaka from Paris, where he is undergoing a minor medical procedure, according to his spokesperson.
The protests in Bangladesh began in early July with university students demanding the abolition of quotas in civil service jobs but quickly escalated into a broader anti-government movement. Over 400 people reportedly died in clashes between government forces and protesters, most of whom were civilians shot by police.
On Monday alone, over 100 people died nationwide, making it the deadliest day of the movement. Numerous police stations were also set ablaze. Hours before protesters stormed and looted the former PM’s official residence in Dhaka, Ms. Hasina resigned and fled to India, abruptly ending her nearly 15-year rule.
Despite Bangladesh’s economic growth over the past decade, Ms. Hasina faced mounting criticism for silencing dissent and jailing political opponents. Some, like former PM Khaleda Zia and activist Ahmad Bin Quasem, were released shortly after Ms. Hasina’s departure. Ms. Zia, who chairs the main opposition Bangladesh Nationalist Party, boycotted elections in 2014 and 2024, claiming that free and fair elections were impossible under Ms. Hasina. She was imprisoned in 2018 on corruption charges she insists were politically motivated.
Rights groups report that Mr. Quasem was detained in 2016, one of hundreds of forced disappearances during Ms. Hasina’s tenure. Prof. Yunus, sentenced to six months in jail in January for violating labor laws, claims he is also a victim of Ms. Hasina’s antagonism. He has faced various allegations since 2011, including defaming Bangladeshi politicians.
In 1983, Prof. Yunus founded Grameen Bank, which provides microloans to help poor people start small businesses, a concept that has gained global traction. Accusations of tax evasion and exceeding the mandatory retirement age at Grameen Bank led to his dismissal, but he maintained that these charges were unfounded. In 2006, he and Grameen Bank received the Nobel Peace Prize for demonstrating that even the poorest can contribute to their own development. Internationally known as the “banker to the poor,” Ms. Hasina labeled him a “bloodsucker” of the poor, accusing his bank of exorbitant interest rates.
The origin of the feud between Prof. Yunus and Ms. Hasina is unclear, though many speculate it stemmed from his unsuccessful attempt to establish a political party. Ms. Hasina remains in India, though it is uncertain if she will stay there, despite her close ties with Indian Prime Minister Narendra Modi. India, which shares a long border with Bangladesh, is likely to avoid alienating the new government in Dhaka. India’s Foreign Minister S. Jaishankar confirmed the deployment of additional troops along the border.
Following Prof. Yunus’s appointment, foreign leaders urged Bangladesh to uphold democratic values. U.S. Secretary of State Antony Blinken emphasized the need for the interim government to respect democratic principles, uphold the rule of law, and reflect the will of the people. Australian Foreign Minister Penny Wong called for all parties to refrain from violence and respect universal rights.
