On Tuesday, August 6th, Nobel Peace Prize laureate Muhammad Yunus was appointed as the Chief Advisor of the interim government in Bangladesh. A day earlier, the country’s Prime Minister Sheikh Hasina fled to neighboring India following a crackdown on student protests that spiraled out of control.
According to local media reports cited by Reuters, Yunus was appointed to the position by President Mohammed Shahabuddin after meeting with student leaders and the Chief of Army Staff.
At 84 years old, Yunus is the founder of Grameen Bank, a pioneering microcredit institution that provides small loans of $100 or less to rural impoverished populations in Bangladesh. His work has helped millions escape poverty, earning him the Nobel Peace Prize in 2006.
In June of this year, Yunus was charged with embezzlement, to which he has denied any wrongdoing.
Student leaders expressed their hopes for Yunus to take on the role of Chief Advisor in the interim government, a position which Yunus has reportedly accepted. Currently undergoing treatment in Paris, Yunus is expected to return to the capital, Dhaka, soon.
Yunus has not yet commented on his appointment, and the timing of the interim government coming into power remains uncertain.
Earlier on Tuesday, President Shahabuddin dissolved the parliament, paving the way for the interim government and new elections. He had previously stated that elections would be held promptly after the interim government assumed control.
His office also announced the release of opposition Bangladesh Nationalist Party leader and former Prime Minister Begum Khaleda Zia from house arrest.
The student protesters have threatened further demonstrations if the parliament is not dissolved. One of the key organizers of the student movement, Nahid Islam, stated in a video, “Nothing else will be accepted except the government we recommend.”
The movement to overthrow Hasina originated from protests against the allocation of civil service job quotas for the families of veterans from the 1971 Bangladesh Liberation War, which critics argue was a means to reserve job positions for allies of the ruling party.
Since July, violent incidents have swept across the country, resulting in approximately 300 deaths and thousands of injuries.
After protesters stormed and looted the luxurious Prime Minister’s residence on Monday, the streets of Dhaka returned to calm on Tuesday, with traffic flowing smoother than usual, although many schools and businesses remain closed following the unrest.
The garment industry association, a pillar of Dhaka’s economy providing clothing for top global brands, is set to resume operations on Wednesday after being shut down due to the unrest.
Hasina’s departure marks the end of her two-decade reign in the country. Her father, Mujibur Rahman, a political leader of the Bangladesh Liberation Movement and the founding president, was assassinated in 1975. Hasina and her sister had escaped the same fate as they were vacationing in Germany at that time before seeking refuge in India.
In 1981, Hasina returned to Bangladesh to pursue politics, inheriting her father Rahman’s political legacy and becoming the leader of the Awami League. She served as the Prime Minister of Bangladesh from 1996 to 2001 and from 2009 to 2024.
Following her flight to India on Monday, Hasina currently resides in a secure location on the outskirts of Delhi. Reports from Indian media suggest that she may eventually travel to the UK where she has relatives, including a niece who serves as a government minister.
Student leaders have reported attacks on minority communities, such as temples of Hindus, a minority group, in the predominantly Muslim country. They call for all parties to exercise restraint.
A community association announced on Tuesday that hundreds of Hindu homes, businesses, and temples have been vandalized since Hasina’s resignation. The Indian government has expressed concerns over these incidents.
Hindus comprise about 8% of Bangladesh’s population of 170 million, traditionally supporting the Awami League party led by Hasina rather than the opposition group including the hardline Islamic party.