Shamima Choudhury
Controversial Bengali writer Taslima Nasreen recently wrote that Dr. Yunus is a type of man who always tries his best to retain his job. For example, when the Sheikh Hasina government in 2009 asked all officials particularly of the financial institutions to follow the government regulations and retire from active service once they reach over 60 years of age, most of them complied. For example, former Finance Secretary M. Sayeeduzzaman, former Industry Secretary Motiul Islam and others who were serving in active jobs in financial institutions after retiring from their government jobs followed the government orders and gave up the jobs. But Dr. Yunus refused to give up his position as MD of the Grameen Bank. At the time, he was 70 years old.
Grameen Bank established in 1982 by the military government
Grameen Bank was established by the military government of Gen. H. M. Ershad in 1982 at the initiative of Dr. Yunus following the collateral free microcredit bank of Colombia. The first microcredit Bank was established in Columbia in 1962 and it provided small loans without collateral to over 660,000 people. However, its repayment was relatively poor unlike the Grameen Bank. Grameen Bank’s repayment performance is much higher due to few innovations such as (1) loans were mostly provided to poor women who are more serious in repayment, (2) introduction of “5-member peer group” that if anyone fails to repay, the other members of the group would put pressure for repayment, and (3) introduction of collection of small repayment amount more frequently, by each fortnight. Unlike the Bank of Microcredit of Colombo, the Grameen Bank would send its repayment collectors to the borrowers home each fortnight. These are great innovations by Dr. Mohammed Yunus.
Reportedly Dr. Yunus met a few activists of the Microcredit Bank of Colombo when he was pursuing his PhD at Vanderbilt University and he improved their concept when he started his Grameen Bank in Bangladesh. Recently he has introduced his “3-zero policy” — zero hunger, zero unemployment, and zero carbon emission.
3-zero strategy of Dr. Yunus
The UN adopted its 17 SDGs in 2015 to achieve hunger-free, poverty-free world, and employment for all plus no one is left behind. The Paris Climate Conference in 2015 adopted a policy of limiting the carbon emission so that the global temperature remains below 1.5 degree Celsius. Dr. Yunus summarized these ideas from the SDGs and Paris Conference and came up with his famous “3-zero strategy”.
Jubra Village: Beginning of Grameen Bank
When Dr. Yunus returned to Bangladesh after independence and started his job at the Chittagong University, he was given the responsibility to oversee a small project of the University at the Jubra Village of Chittagong. When the project died, Dr. Yunus provided small loans to a few villagers and thus his Grameen loans program developed. In setting up his Grameen Bank, the Bangladesh government made the maximum contribution and they rewarded him by appointing him as its MD.
Dr. Yunus refused to quit his MD job
When he was asked to leave the job of MD of the Grameen Bank as he reached 70 years, he refused. However , considering his contribution, the Sheikh Hasina government offered him its Chairmanship job. He was not happy with it. Instead he filed a case against the government order. The Court following the bank regulation gave the verdict against him. Therefore, he was forced by the Court to relinquish his MD position.
Dr. Yunus by then being a Nobel Laureate had good rapport worldwide and he used all his imaginative powers to retain his MD position. Even the US Secretary of State, Hillary Clinton urged the Bangladesh Prime Minister to allow Yunus to stay at his job. Very strange indeed!
Many Nobel Laureates quit when controversy develop
Many Nobel Laureates left their own institutions when controversy developed. They simply quit. But not Yunus. For example, when controversy was raised against the Nobel Laureates namely John Nash, Daniel Gajdusak, Sir Tim Hunt, Elizabeth Blackburn, Louis Ignarro, to name a few, they all relinquished their jobs and left their institutions. Many of them left their own institutions that they themselves built and founded. Nobel Laureate Madame Curie who herself got two Nobel Prizes (Chemistry and Physics) and her family got a total of 5 Nobel prizes, only in the world, left her institution once scandal was spread against her and she had a lonely death away from home. She got 2, and her husband, her daughter and her son-in-law each got one Nobel Prize totaling 5 Nobel Prizes in the same family.
Will Dr. Yunus leave his Chief Adviser job
Given the characteristics of Dr. M. Yunus, it is unlikely that he would give up the job of the Chief Advisor soon as Taslima Nasreen observed. He is a brilliant strategist who built nearly 50 companies by using the Grameen name brands.
In order to retain his job, he has already asked his supporters to form a political party and they did. Their main slogan for Yunus — don’t give election before reform. In addition, a few Social media activists or bloggers have already demanded to extend his tenure until his death or at least till 2029. His administration granted tax exemption to all of his companies till 2029. Besides these initiatives, it is reported that he has proposed the following.
Bangladesh: a land of wild rumors and fears
In the absence of free media and being afraid of “bulldozer politics”, a new innovation under which if anyone criticizes the government, his or her private properties are likely to be vandalized, looted and bulldozed into ground, rumours have become pervasive and wild in present Bangladesh. Therefore, it’s very difficult to figure out what is happening around. The wild rumour is that in order to delay the upcoming election, Dr. Yunus has developed a very smart strategy. If there is will there is a way— Canada declared holding its Parliamentary election within few while Dr. Yunus is still uncertain although he has already completed 240 days in office. However, he is always prompt in assuring the world that he would soon hold a credible election in Bangladesh. That “soon” is undefined.
Fears of Uncertainty Aggravating
First, his administration has already banned visitors to visit St. Martin island presumably in order to protect the island’s environment. Rumor is that under the guise of protection, he would allow a foreign government to set up a Communication station in the Island. However, to avoid complications, it will not be a typical military base. Second rumor is that, he proposed to provide a “Corridor” in the Cox’s Bazar and Chittagong HT area for easy mobility of troops. Third, the UN would sanction a “no fly zone” in the Corridor area as they did in other countries, for example, Libya in 2011. After the proposed High level event at the UN on Rohingya, “no fly zone” resolution would be achieved.
The past government of Sheikh Hasina demanded the UN to create a “safe haven” for Rohingya in the Rakhaine state but as she was always in adverse to wars, never asked for a “no fly zone” resolution.
Instability: a Vehicle of Retaining Powers
Now these arrangements may invite a “proxy war” in the region leading to chaos and uncertainty. Already, Dr. Yunus has asked the Bangladesh military to be ready for a war and reportedly he is buying modern weapons from Pakistan, Turkey, China and the USA. In the meantime, the Bangladesh Army Chief reiterated his troops to be ready for any emergency.
Dr. Yunus supporters are threatening India that they would cut off its land-locked seven sisters by taking over the Chicken-neck, a small neck that connects rest of India with it’s seven sister states and Dr. Yunus Cabinet colleague, Mahfuz Alam circulated a much bigger new map of Bangladesh that includes 10 states of India including seven sisters.
If Ukraine’s Zelensky’s strategy is any lesson for political pundits, any proxy war in this region can guarantee a longer rule for Dr. Yunus unless there is a mass uprising.
President Volodymyr Zelensky could extend his rule and could delay holding election as he is engaged in a war with the Russian Federation. Yunus can easily justify delaying the election if uncertainty develops in the region. The big question is, is the Indo-Pacific region heading to regional uncertainty and a proxy war?