Professor Muhammad Yunus, the sole Nobel laureate from Bangladesh, is once again making headlines due to his ongoing legal trials and the global community’s expressed concerns about these proceedings. While some view the charges against him as political oppression, many aware Bangladeshis see these concerns as a potential threat to their country’s sovereignty. It’s important to recognize that a Nobel Prize does not provide immunity from accountability for one’s actions.
Over 100 Nobel laureates and other prominent individuals recently appealed to Bangladeshi Prime Minister Sheikh Hasina to halt the ongoing legal actions against economist Muhammad Yunus. Signatories of this letter, dated August 28, include former US President Barack Obama, former UN Secretary-General Ban Ki-moon, and former US Secretary of State Hillary Clinton. The group comprises 104 Nobel laureates from various fields, along with 77 political figures, business leaders, and members of civil society.
In March, a similar letter was penned by 40 individuals expressing concerns about Yunus’s safety, with some overlapping signatories from the August letter. It appears that many of these signatories may not be fully aware of Dr. Yunus’s actions prior to 1996, before the start of Sheikh Hasina’s government’s first term.
Dr. Yunus’s fame is closely linked with the development of the Grameen Bank. In October 1983, the Grameen Bank received authorization through national legislation to operate as an independent bank, with 25 percent government ownership. Dr. Yunus was appointed as the bank’s top official.
Initially, when Sheikh Hasina assumed power in 1996, she viewed Dr. Yunus and Grameen Bank as instrumental in improving the conditions of rural women, even allocating special funds for the bank to empower women. She also granted ownership of Grameen Phone, the country’s second-largest mobile phone operator, to Grameen Telecom, with the intention of using it to empower rural women. This initiative enabled women in rural areas to escape poverty, a development that contributed to Dr. Yunus receiving the Nobel Peace Prize in 2006.
However, tensions between Dr. Yunus and Sheikh Hasina began to escalate. In 2007, during the illegal caretaker government’s rule, a political movement emerged aimed at removing top leaders from both the Bangladesh Nationalist Party (BNP) and the Awami League from politics. Rather than standing by Sheikh Hasina, Dr. Yunus capitalized on his Nobel-winning image by forming a political party and keeping top leaders from both parties imprisoned. Notably, he did not offer support to Sheikh Hasina when she faced unjust charges and arrest. This move created serious mistrust between them.
Sheikh Hasina’s government took office again in 2009, offering Dr. Yunus an opportunity to mend relations. However, he continued to create obstacles, and allegations arose regarding his involvement in attempts to block funding for the Padma Bridge project, a dream initiative for Sheikh Hasina. Despite her determination to self-finance and complete the project, Dr. Yunus’ anticipated involvement in blocking World Bank funding caused tension. While Bangladesh Prime Minister Sheikh Hasina publicly mentioned this conspiracy, Dr. Yunus did not provide a statement to refute the allegations.
In 2011, the Awami League government initiated a review of Grameen Bank’s activities, revealing that Yunus was illegally holding the position of managing director, violating government retirement regulations. Although he was offered the role of Chief Advisor, he took the matter to court and was eventually dismissed from the position. Subsequently, he faced trials on charges of irregularities, corruption, and labor law violations. These trials are being conducted independently by the Bangladesh court, and like any other citizen, Dr. Yunus will receive his verdict in due course. Prime Minister Sheikh Hasina has even invited concerned global figures to visit Bangladesh and observe Dr. Yunus’ trial process.
Despite holding a Nobel Peace Prize, Dr. Yunus has not been notably active or vocal on national issues. During the ongoing Rohingya crisis, his influential connections did not lead to impactful solutions. His contributions to Bangladesh’s development are relatively meagre compared to the support he received from Sheikh Hasina.
While Dr. Yunus has attained global recognition, he should remember that his success stems from the patronage of Sheikh Hasina. His political ambitions, utilizing his Nobel-winning image, have led him to engage in anti-national and anti-sovereignty activities. Aligning with Western influences, who may exploit him for their own interests, is not in the best interest of Bangladesh. Dr. Yunus should remain within his field of expertise and refrain from politics.
It is unfortunate that Dr. Yunus is entangled in legal proceedings due to his actions. It is hoped that Dr. Yunus realizes his mistakes and, instead of lobbying Western influencers, chooses to apologize to Bangladesh Prime Minister Sheikh Hasina and work to strengthen her hands for the sake of the country’s development. Bangladeshis continue to take pride in Dr. Yunus’s achievements and hope to preserve that pride.
