Nobel laureate Muhammad Yunus named Bangladesh’s interim head

Nobel laureate Muhammad Yunus has been appointed as head of the interim government by Bangladesh President Mohammed Shahabuddin. This appointment follows the dissolution of Parliament on Tuesday, which occurred a day after Prime Minister Sheikh Hasina resigned and fled the country amid violent protests. President's Press Secretary Md Joynal Abedin said that the other members of the interim government will be determined after discussions with various political parties. The Anti-Discrimination Student Movement previously announced that the elderly Nobel laureate had agreed to lead the interim government.

Hasina once labelled Yunus, the 83-year-old known as the “banker to the poorest of the poor,” as a “bloodsucker.” Yunus, an economist and banker, received the Nobel Peace Prize in 2006 for his groundbreaking work in microcredit, aimed at aiding impoverished individuals, especially women. The Nobel committee recognised Yunus and Grameen Bank “for their efforts to create economic and social development from below."

Grameen Bank, founded by Yunus in 1983, provided small loans to entrepreneurs who usually wouldn’t qualify for traditional funding. Its success in reducing poverty led to similar microfinance projects globally.

Trouble arose with Hasina’s administration in 2008, leading to a series of investigations into Yunus. Hasina accused Yunus of using coercive tactics to collect loans from impoverished rural women through Grameen Bank, a claim Yunus denied. Earlier, Yunus announced his intent to form a political party in 2007, during a period when Bangladesh was under a military-backed government, though he did not pursue the plan.

In 2011, Hasina’s government began scrutinising the bank’s operations, resulting in Yunus’s dismissal as managing director for allegedly breaching retirement regulations. In 2013, Yunus faced a trial for allegedly receiving funds, including his Nobel Prize and book royalties, without government authorisation.

Currently outside Bangladesh, Yunus welcomed the removal of Hasina, calling it the country's "second liberation." Nahid Islam, a coordinator of the student movement, proposed Yunus as the head of the interim government in a video, insisting that no other government, whether military-backed or fascist, would be accepted.

Bangladesh remains in turmoil, with ongoing violence reported across the country, including in Dhaka. The death toll from the protests has reached 440 since mid-July. Numerous Hindu temples, households, and businesses have been vandalised, women assaulted, and at least two Hindu leaders associated with the Awami League party killed, as reported by PTI.

Families of the deceased protesters have presented an 11-point demand to the new administration, seeking rehabilitation and employment. Additionally, former Prime Minister and Hasina's rival, Khaleda Zia, has been released from jail.

The Hindu American Foundation (HAF) highlighted the long-standing harassment of Bangladesh's Hindu population, which has intensified with the recent upheaval.

After fleeing Bangladesh under a 45-minute ultimatum by the Army, Hasina arrived at Hindon airbase in Delhi and is currently under stringent security at an undisclosed location.