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Business Fortune
08 August, 2024
On Thursday, a new, interim government in Bangladesh under Nobel Peace Prize-winning economist Muhammad Yunus' leadership is expected to take office.
Prime Minister Sheikh Hasina was forced to quit and leave Bangladesh due to weeks of violent student protests. Student demonstrators who spearheaded the Bangladesh political transition suggested Yunus, 84, Bangladesh's lone Nobel laureate and a fierce critic of Hasina, for the position. In an interim government that the army chief hinted may have 15 members, he was scheduled to take the oath of office as top adviser later on Thursday alongside a group of advisors, though talks on the names had gone into the late hours of Wednesday.
Hasina's Awami League party was not a part of the all-party negotiations led by army chief general Waker-Uz-Zaman, who made Hasina's resignation announcement on Monday. Her son, Sajeeb Wazed Joy, said the party was still in the game and ready to talk with the government and its opponents in a late-Wednesday Facebook post.
Yunus, who is referred to as the "banker to the poor," was awarded the Nobel Peace Prize in 2006 for founding Grameen Bank, a pioneer in extending small loans to individuals in need in an effort to help fight poverty. On Thursday, he is expected to arrive in Dhaka, the country's capital, having been undergoing medical attention in Paris.
Prior to boarding his journey on Wednesday night, Yunus expressed his excitement about returning home to investigate the situation and figure out how to organize their escape from their current predicament.
Following Hasina's unexpected departure from the nation she had led four times (she was reelected to a fifth in January), celebrations and rioting broke out throughout Bangladesh as throngs of people wrecked and invaded her official residence without any resistance.
She ran away and is currently seeking safety at an air base close to the Indian capital, New Delhi, in neighboring India.
Student protests against government employment quotas took a violent turn in July, resulting in the deaths of roughly 300 people and thousands of injuries. The government denied using excessive force, but the demonstrations were met with a violent crackdown that drew international criticism.