Nobel Laureate Muhammad Yunus Appointed to Lead Bangladesh’s Interim Government

Nobel laureate Muhammad Yunus is set to lead Bangladesh's interim government following the departure of longtime Prime Minister Sheikh Hasina amid widespread unrest that has resulted in hundreds of casualties and pushed the South Asian nation to the brink of instability.

Joynal Abedin, press secretary to the country’s figurehead President Mohammed Shahabuddin, announced the decision early Wednesday. The announcement came after a meeting that included military chiefs, organizers of the student protests that contributed to Hasina's exit, prominent business leaders, and civil society members.

Yunus, a longstanding political opponent of Hasina, is expected to return soon from Paris, where he is currently advising Olympic organizers, according to media reports.

An economist and banker, Yunus received the 2006 Nobel Peace Prize for his work in developing microcredit markets. He is renowned for his efforts in alleviating poverty through Grameen Bank, which he founded in 1983. The bank provides small loans to entrepreneurs who would not qualify for traditional bank loans.

Abedin stated that other members of the new government would be determined soon, following discussions with political parties and other stakeholders. On Tuesday, the president dissolved parliament, paving the way for an interim administration and new elections.

Shahabuddin also ordered the release of opposition leader Khaleda Zia from house arrest. Zia, a longtime rival of Hasina, was convicted on corruption charges in 2018.

Yunus, who had referred to Hasina’s resignation as the country’s “second liberation day,” had faced corruption charges during her rule, which he dismissed as politically motivated. While Yunus could not be immediately reached for comment, Nahid Islam, a key organizer of the protests, confirmed that Yunus had agreed to lead the interim administration.

Islam indicated that protesters would propose additional names for the Cabinet and suggested that those in power would find it challenging to disregard their wishes.

Hasina reportedly left for India by helicopter as protesters defied a military curfew to march on the capital, with thousands eventually storming her residence and other buildings associated with her party and family.

The announcement of Yunus’s leadership of the interim government came amid reports that Bangladesh’s army chief, Gen Waker-Uz-Zaman, had informed Hasina’s office that troops would be unable to enforce the curfew she had called for during the protests, the night before she left the country.

According to Reuters, citing two serving army officers with knowledge of the discussions, Hasina’s army chief held a meeting with his generals and decided that troops would not open fire on civilians to enforce the lockdown.

On Monday, Hasina resigned and left the country after at least 300 people were killed in a crackdown on demonstrations that began as student protests against preferential job quotas and evolved into a movement demanding her removal from power.

Students argued that the quota system disproportionately allocated government jobs to the descendants of freedom fighters from the 1971 independence war. The situation escalated on Sunday when 91 people were killed in nationwide clashes, marking the deadliest day since the protests began in July.

Zaman has not publicly explained his decision to withdraw support from Hasina, and she could not be reached for comment. Her son and adviser, Sajeeb Wazed, also did not respond to repeated requests for comment, according to Reuters.

India’s foreign ministry stated on Tuesday that Hasina apparently decided to resign after a meeting with the leaders of the security forces. She then requested permission from New Delhi to come to India on short notice, while Bangladesh authorities simultaneously sought flight clearance. According to the latest information, she remains in India.

Hasina, who has governed Bangladesh for 20 of the last 30 years, was elected to a fourth term leading the country of 170 million in January, after arresting thousands of opposition leaders and workers. That election was boycotted by her main rivals.