Social Entrepreneur Muhammad Yunus Considered for Top Advisory Role in Bangladesh Interim Government

Acclaimed Social Entrepreneur Tapped to Advise Bangladesh Interim Government

As political unrest continues in Bangladesh, the country's president has turned to a renowned figure in the field of microfinance to provide guidance during this turbulent transition period. Muhammad Yunus, winner of the 2006 Nobel Peace Prize for pioneering microcredit and microfinance, is being considered for the key role of chief advisor to the caretaker government that will oversee upcoming national elections. Here are five important facts about this bold social entrepreneur and his potential new advisory position:

1. Founder of Grameen Bank – Yunus helped launch Grameen Bank in the 1970s which revolutionized microcredit and microfinance by providing small loans to impoverished individuals, particularly women, without requiring collateral. This social business model has since been replicated worldwide to empower millions out of poverty.
2. Global Advocate for Social Business – In addition to microcredit, Yunus has spent decades promoting social business, which applies business techniques to solve social problems. He works to develop businesses that benefit local communities and people at the bottom of the economic pyramid.
3. Experienced Leader – With decades leading Grameen Bank and working on social issues, Yunus brings extensive experience in management, policy formulation and community development that could aid Bangladesh's interim administration. His guidance may help ensure a smooth transition to democratic elections.
4. Controversial Past – However, Yunus faced criticism and controversy in Bangladesh in the past over his leadership of Grameen Bank and views on poverty alleviation. It remains to be seen how he will navigate political sensitivities in an advisory government role.
5. Key Election Observer – If selected, Yunus's internationally respected stature could help legitimize the caretaker government and give credibility to its mandate overseeing the next election, scheduled for early 2023. His involvement aims to ensure a free and fair democratic process.