In 2006 Muhammad Yunus became the first Bangladeshi to win the Nobel peace prize. In today’s Bangladesh he is less celebrated than hounded
Save time by listening to our audio articles as you multitaskAt home, at least, that has changed. In today’s Bangladesh, Mr Yunus is less celebrated than hounded. This month he is due to be hauled before the country’s anti-corruption commission to face questions about his business. Along with a growing list of his associates, he risks being barred from leaving the country.
Mr Yunus’s fate hints at the changing status of social enterprises and non-governmental outfits in Bangladesh. Starting in the 1970s, successive governments keen to boost the country’s development embraced the work of organisations such as Mr Yunus’s Grameen Bank. But eventually they began to worry that such groups were amassing too much power of their own.
As Sheikh Hasina tightened her grip on power, her suspicion of Mr Yunus deepened. In 2011 the government ousted Mr Yunus from Grameen on the basis that he had passed the compulsory retirement age of 60 . Three years later it took over the bank’s board of directors entirely. In 2012 plans to build a bridge across Bangladesh’s Padma river were temporarily derailed when the World Bank withdrew its $1.2bn funding commitment, citing corruption by Bangladeshi officials.
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