Who is Muhammad Yunus? The Nobel Laureate Set To Lead Bangladesh’s Interim Government

Bangladesh Nobel Laureate Muhammad Yunus is poised to assume leadership of the nation on Thursday, following the resignation and departure of Sheikh Hasina amid weeks of political turmoil.

In 2006, Muhammad Yunus and his grassroots Grameen Bank were awarded the Nobel Peace Prize for bringing a social conscience to capitalism and for their efforts in promoting economic and social development in Bangladesh.

Yunus founded Grameen Bank in 1983 to provide small loans to entrepreneurs who were typically unable to access traditional credit.

Born in 1940 in Chittagong, a port city in Bangladesh, Yunus earned his PhD from Vanderbilt University in the United States and briefly taught there before returning to Bangladesh.

In 2011, Hasina's government began scrutinizing Grameen Bank’s operations, leading to Yunus’s removal as managing director for allegedly violating retirement regulations.

In 2013, Yunus faced trial for allegedly accepting funds without government approval, including his Nobel Prize award and book royalties.

Earlier this year, Yunus and 13 others were indicted by a special court in Bangladesh on charges related to a $2 million embezzlement case. Yunus has pleaded not guilty and is currently out on bail.

Supporters of Muhammad Yunus argue that he has been targeted due to his strained relationship with Sheikh Hasina.