In a significant development amidst the ongoing turmoil in Bangladesh, the coordinators of recent student protests have proposed the formation of an interim government, with Nobel Peace laureate Muhammad Yunus as its chief adviser. This announcement was made through a video released on Facebook early Tuesday. Additionally, Bangladesh Army Chief Waqar-uz-Zaman is scheduled to meet with the protest leaders at 12 pm local time (0600 GMT) on Tuesday to discuss the proposal.Who is Muhammad YunusMuhammad Yunus, born on June 28, 1940, in Chittagong, Bangladesh, is a distinguished social entrepreneur, banker, economist, and civil society leader. He gained international recognition in 2006 when he, along with the Grameen Bank, was awarded the Nobel Peace Prize for pioneering work in microcredit and microfinance. These initiatives provide small loans to underserved entrepreneurs, empowering them to achieve economic and social development despite limited access to traditional banking services.Accolades and achievementsYunus has been honored with numerous prestigious awards, including the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010. In 2011, he co-founded Yunus Social Business – Global Initiatives (YSB), which focuses on promoting social businesses worldwide through incubator funds and advisory services, working with various organizations such as companies, governments, foundations, and NGOs.Academic and professional backgroundYunus served as the Chancellor of Glasgow Caledonian University in Scotland from 2012 to 2018 and was previously a professor of economics at Chittagong University. He played a significant role in Grameen America and the Grameen Foundation, continuing his efforts in microcredit. From 1998 to 2021, he was a board member of the United Nations Foundation, contributing to a range of UN initiatives.Yunuss educational background includes studies at Dhaka University in Bangladesh and a Fulbright scholarship to study economics at Vanderbilt University, where he earned his Ph.D. in 1969. He began his academic career as an assistant professor of economics at Middle Tennessee State University before returning to Bangladesh to head the economics department at Chittagong University.Contributions and global recognitionThroughout his career, Yunus has held various influential positions, including serving on the International Advisory Group for the Fourth World Conference on Women (1993-1995), the Global Commission on Womens Health, and the UN Expert Group on Women and Finance. His contributions have been recognized globally with accolades such as the Mohamed Shabdeen Award for Science, the World Food Prize, the King Hussein Humanitarian Leadership Award, the Volvo Environment Prize, the Nikkei Asia Prize for Regional Growth, the Franklin D. Roosevelt Freedom Award, and the Seoul Peace Prize.Legal troublesIn response to the famine in Bangladesh in 1974, Yunus sought to make a tangible difference for the impoverished by initiating long-term loans to help individuals start their own small businesses. This led to the establishment of the Grameen Bank and the broader movement of microfinance, helping countless people escape poverty and improve their quality of life.However, Yunuss career has not been without controversy. Earlier this year, he was sentenced to six months in jail for violating labor laws but was granted bail in March. He was also implicated in a USD 2.3 million embezzlement case involving the workers welfare fund of Grameen Telecom, which owns 34.2 percent of the countrys largest mobile phone company, Grameenphone. The charges involve the embezzlement of over 250 million takas and money laundering, where the funds were allegedly given to trade union leaders instead of the workers, depriving ordinary workers of their rightful earnings.
