In 2006, he and the bank were awarded the Nobel Peace Prize for their work to create economic and social development from below…reports Asian Lite News
Prime Minister Narendra Modi has extended his best wishes to Nobel laureate and microfinance pioneer Muhammad Yunus (84), who took oath as the head of the interim government in Bangladesh on Thursday evening, while expressing that the new regime would restore peace and ensure the protection of Hindus and other minorities in the neighbouring country.
“My best wishes to Professor Muhammad Yunus on the assumption of his new responsibilities. We hope for an early return to normalcy, ensuring the safety and protection of Hindus and all other minority communities. India remains committed to working with Bangladesh to fulfill the shared aspirations of both our peoples for peace, security and development,” Prime Minister Modi said in a post on X.
Amid the violence that led to Sheikh Hasina’s resignation and flight from the country, there were reports that Hindus, their properties, and places of worship were being targeted.
Yunus was attending the Paris Olympics as the country got engulfed in massive unrest and violence. The 84-year-old former banker landed in Dhaka on Thursday afternoon, hours before his swearing-in ceremony.
After taking oath, Yunus said that he would “uphold, support and protect the constitution and will perform my duties sincerely”.
His major role in the military-backed interim government became quite evident within hours of Sheikh Hasina’s departure from the country on Monday amid massive anti-quota protests that had several lives.
A well-known social entrepreneur, banker, and economist, Yunus is also hailed as the ‘father of microfinance’ for founding the Grameen Bank in 1983 and becoming the pioneer of microcredit and microfinance concepts.
In 2006, he and the bank were awarded the Nobel Peace Prize for their work to create economic and social development from below.
Although Yunus was a well-known figure in Bangladesh, he had largely stayed away from the political arena, save one short-lived stint in February 2007, when he founded ‘Nogarik Shakti’ (citizens’ power) before announcing his exit from politics in May 2007.
He also shared a tumultuous relationship with Sheikh Hasina, whom he accused of destroying the legacy of her father and Bangladesh founder, Bangabandhu Sheikh Mujibur Rahman.
Born on June 28, 1940, in Chittagong district, Yunus did his schooling at the Chittagong Collegiate School before earning a bachelor’s degree in economics from Dhaka University.
He later obtained a PhD in economics from Vanderbilt University in the USA on a Fulbright Scholarship in 1969.
Upon returning to Bangladesh in 1972, Yunus became the head of the economics department at Chittagong University.
From 1993 to 1995, Yunus was appointed by the UN Secretary-General as a member of the International Advisory Group for the Fourth World Conference on Women. He was also a prominent member of the Global Commission on Women’s Health, the Advisory Council for Sustainable Economic Development, and the UN Expert Group on Women and Finance.