Sentinel Digital Desk
Nobel laureate Dr. Muhammad Yunus, known as the 'banker to the poor' for his efforts in reducing poverty, will be the interim government's chief adviser, according to the coordinators of the student movement that led the protests in Bangladesh.
In a video released on social media, Nahid Islam, one of the primary planners of the movement that resulted in Sheikh Hasina's removal, stated that Professor Yunus had accepted to take on the responsibility given the country's current condition.
The development comes as Bangladesh President Mohammed Shahabuddin announced the formation of an interim government following the dissolution of Parliament, as widespread disorder over a contentious quota system in government positions led to the downfall of the Hasina regime.
Born on June 28, 1940, in Chittagong, Bangladesh, Muhammad Yunus is a renowned social entrepreneur, banker, economist, and civil society leader. He received the Nobel Peace Prize in 2006 for his work in microcredit and microfinance.
Yunus co-founded Yunus Social Business – Global Initiatives (YSB) in 2011, promoting social businesses worldwide. He served as the Chancellor of Glasgow Caledonian University from 2012 to 2018 and was a professor of economics at Chittagong University.
Yunus initiated long-term loans to help individuals start their own small businesses in response to the 1974 famine in Bangladesh.
He was sentenced to six months in jail for violating labour laws in January but later granted bail. He was also jailed in a USD 2.3 million embezzlement case involving a workers welfare fund of Grameen Telecom.