Muhammad Yunus: From winning the Nobel prize to being Bangladesh's interim leader

In a significant political shift, Nobel laureate Muhammad Yunus has been named the interim leader of Bangladesh. This appointment follows the abrupt departure of prime minister Sheikh Hasina, who fled the country after weeks of escalating unrest, marking an end to her 15 years of rule.

Though the country finds itself in the midst of a political turmoil, there's only one thing that's clear, 84-year-old Nobel laureate is the chief adviser of the interim government.

Students who led the protests pushed for Prof Yunus, a longtime political foe of Sheikh Hasina, to lead the interim administration.

"In Dr. Yunus, we trust," Asif Mahmud, a key leader of the Students Against Discrimination (SAD) group, wrote on Facebook before Yunus was announced as leader, as per DW.

"When the students who sacrificed so much are requesting me to step in at this difficult juncture, how can I refuse?" Prof Yunus had said. He is returning to Dhaka from Paris where he is undergoing a minor medical procedure, his spokesperson said, reported BBC.

But who is Muhammad Yunus?

Muhammad Yunus, an 84-year-old economist and social entrepreneur, has long been a prominent figure in Bangladesh.

Born in 1940 in Chittagong, southeastern Bangladesh, Yunus pursued a Ph.D. in economics at Vanderbilt University in the United States, as per DW.

Upon returning to Bangladesh in 1972, he took up a position as head of the rural economics program at the University of Chittagong. The devastating famine of 1974, which resulted in thousands of deaths, profoundly influenced Yunus.

He began lending small amounts of money to poor communities, a practice that would eventually lead to the creation of the Grameen Bank in 1983.

The Grameen Bank revolutionised microfinance by providing small, long-term loans to impoverished individuals, particularly women, added the report.

Fast forward to 2006 and Yunus and the Grameen Bank were awarded the Nobel Peace Prize for their efforts toward eradicating poverty.

As for politics, In 2007, he announced the formation of a political party, Nagarik Shakti (Citizens' Power), but soon withdrew from the political arena, as per DW.

When Sheikh Hasina came to power in 2009, she became a staunch critic of Yunus, despite previously supporting him, added the report.

Despite his international acclaim for pioneering microloans to alleviate poverty, Yunus has been a contentious figure in his home country, particularly in the eyes of Sheikh Hasina, she considered him a political adversary and a court recently sentenced him to jail for allegedly violating labour laws by failing to create a welfare fund for his workers, a decision he and his supporters deemed politically motivated, reported BBC.

The recent unrest in Bangladesh began in early July with university students peacefully demanding the abolition of quotas in civil service jobs. The protests quickly grew into a broader anti-government movement. The situation escalated dramatically, resulting in over 400 deaths and the torching of hundreds of police stations, reported BBC.

The unrest culminated in the storming and looting of the Prime Minister's official residence, prompting Sheikh Hasina to flee to neighboring India. Prominent opposition figures, including former Prime Minister Khaleda Zia and activist Ahmad Bin Quasem, were subsequently released from custody.