The Voice News: A year after the political upheaval that forced Prime Minister Sheikh Hasina into exile, Bangladesh’s interim leader Muhammad Yunus says citizens still view the government as a hostile force. In an exclusive interview with The Guardian, the Nobel Peace Prize laureate declared that only by eradicating corruption—from the grassroots to the top echelons of power—can the nation begin to believe in a “New Bangladesh.”
“Corruption became so normalised that from applying for a passport to starting a business, people had to pay bribes at every step,” Yunus said. “The government became the people’s enemy—powerful and untouchable. Citizens just wanted to stay out of its way.”
Yunus assumed leadership following the July 2024 student-led revolt that toppled the Awami League government, long criticized for authoritarianism and cronyism. The protests, sparked by anger over a controversial job quota system favoring ruling party loyalists, soon expanded to reflect deeper frustrations—soaring living costs, youth unemployment, and systemic oppression.
“The economy was devastated. The banks issued loans like they were handing out gifts—knowing they’d never be repaid,” Yunus recalled. “The administrative structure had collapsed. Nobody even knew if we’d be able to pay our bills.”
Since taking office, Yunus has overseen the formation of a series of reform commissions tasked with overhauling Bangladesh’s electoral system, combating corruption, and strengthening welfare programs. He is now working to secure a political consensus around the “July Charter”—a sweeping reform agenda he aims to finalize before the first anniversary of the uprising. Elections are slated for April 2026.
“This charter isn’t about making minor improvements. It’s about fundamental transformation—building a sane, functional system that serves the people,” Yunus said. “Only then can we begin writing the first chapter of a truly new Bangladesh.”
Still, challenges remain. The BNP, now Bangladesh’s most dominant political party and expected to win the upcoming election, has demanded an earlier vote and rejected Yunus’s proposed two-term limit for prime ministers. Despite this, Yunus remains optimistic: “For a country with no tradition of political consensus, the fact that parties are talking at all is progress.”
True to his roots in social innovation, Yunus is also pushing for structural changes in economic development. He envisions a stronger role for nonprofit social businesses and wants to formalize the microcredit sector by creating dedicated microfinance banks—an evolution of the model he pioneered.
“Microcredit is not about exploiting the poor, as some claim. It’s about empowerment. We don’t need to fix it—we need to restore its true purpose,” he asserted.
Yunus has also criticized the mainstream banking system, which often excludes the poor and collapsed under the weight of unpaid loans to elites tied to the former regime. Last year’s financial crisis even led to banks denying customers access to their own savings.
Now, after being demonized by Hasina and reluctantly pulled into leadership, Yunus insists he will not remain in government beyond the April election.
“Today, I’m criticized by everyone—first it was the Awami League, now it’s everybody. That’s just part of leadership,” he said with a shrug. “But come April, we will have an elected government. And then, we’ll step away.”
With hope, reform, and a ticking clock, Muhammad Yunus is racing to lay the foundation for a democratic, transparent, and people-first Bangladesh—before it’s time for him to disappear from power.