Muhammad Yunus Named Interim Leader of Bangladesh After Political Turmoil, Seeks Stability Ahead

Muhammad Yunus, a Nobel Prize winner and microfinance innovator, is set to take the reins as the interim leader of Bangladesh, stepping in to oversee a transitional government aimed at bringing stability to the country after a month of political unrest. His appointment comes in the wake of Prime Minister Sheikh Hasina's resignation and subsequent departure from the country. Notably, Mr. Yunus was favored for this position by the student groups that spearheaded the popular uprising against Ms. Hasina's government.

Mr. Yunus's Influence on Bangladesh and His Microfinance Contributions

At 84 years old, Mr. Yunus, a prominent figure in Bangladesh, was regarded by Ms. Hasina as a potential political adversary, according to her critics. However, following her ousting, Mr. Yunus's influence has propelled him into a position of significant authority within the new government.

Born in 1940 in Chittagong, Mr. Yunus pursued higher education in the United States, earning a Ph.D. in economics from Vanderbilt University. Upon returning to Bangladesh in the early 1970s, he initiated a project aimed at providing small loans to impoverished individuals. This endeavor ultimately led to the establishment of Grameen Bank in 1983, revolutionizing the landscape of microfinance.