May 29, 2025 11:45 pm
Full News

Yunus under fire as Grameen entities gain benefits during interim government rule

Nobel laureate Professor Muhammad Yunus, globally known for pioneering microcredit through Grameen Bank, is facing criticism after multiple Grameen-affiliated organisations received regulatory approvals and privileges following his appointment as chief adviser to Bangladesh’s interim government on August 8, 2024. His appointment came in the wake of a student-led uprising that ousted the Awami League regime.

Approvals and benefits under scrutiny:

Grameen University approved in March 2025.

Grameen Employment Services Ltd (GESL) received a manpower export licence.

Samadhan Services, linked to Grameen Telecom, got digital wallet (PSP) approval.

Grameen Bank’s government stake reduced from 25% to 10%.

Five-year tax exemption for Grameen Bank reinstated.

Critics have pointed to possible conflicts of interest, noting the benefits were granted shortly after Yunus assumed office. Additionally, legal cases against Yunus—including a labour law violation and money laundering case—were dismissed soon after his appointment, raising eyebrows.

Legal expert Shahdeen Malik stated that these developments risk creating “popular skepticism and a loss of trust,” warning of the implications of perceived conflicts of interest.

Controversial timing of university approval

The University Grants Commission approved Grameen University, backed by the Grameen Trust, just three months after an application was submitted in December 2024. UGC officials claimed the evaluation followed proper legal procedures.

However, critics, including economist Anu Muhammad, argue the swift approval and other favours to Yunus-founded entities during his leadership “do not appear clean,” especially after years of government inaction on similar requests.

Long-pending applications fast-tracked

Grameen Employment Services, established by Yunus, received a manpower export licence in January 2025, after a 15-year wait. Its managing director claimed the delay under the previous regime was politically motivated. Similarly, Samadhan Services—part of Grameen Telecom—was approved as a payment service provider after years of inaction.

In April 2025, Yunus’s advisory council approved a new ordinance for Grameen Bank, reducing the government’s shareholding and strengthening shareholder control. The government’s role in appointing the bank’s chair has also been removed.

The National Board of Revenue reinstated Grameen Bank’s five-year tax exemption in October 2024, a benefit it had enjoyed since 1983 but lost in 2020.

Transparency concerns remain

Transparency International Bangladesh’s executive director Iftekharuzzaman called for full disclosure of justifications behind these decisions to avoid perceptions of impropriety.

Yunus’s press secretary denied any wrongdoing, attributing the recent approvals to longstanding applications previously stalled for political reasons. He emphasized that Yunus no longer holds ownership or operational roles in the entities and that the approvals followed due legal processes.

Legal relief raises questions

A day before Yunus took office, he and other Grameen Telecom directors were acquitted in a labour-law case. Three days later, he was cleared in a money laundering trial. While many cases against him were widely viewed as politically motivated, their abrupt dismissals have sparked fresh debates.

Professor Yunus has faced over 170 cases during the Awami League’s tenure. Once lauded for his contributions to poverty reduction, he became a political target, particularly after forming a short-lived political party, Nagarik Shakti, during the 2007–08 caretaker regime. Prime Minister Sheikh Hasina later accused him of trying to sideline mainstream political leaders as part of a “Minus Two Formula.”

Hasina’s hostility toward Yunus intensified after the World Bank withdrew funding for the Padma Bridge, a move she publicly blamed on Yunus—claims he has denied.

Related News
U.S. Imposes Visa Ban on Thai Officials for Deporting Uyghurs
India Imposes Ban on Entry of Bangladeshi Garments and Several Products via Land Ports
ManU players playing with fear,” Amurim admits
Outgoing Georgian President Defies Departure as Successor Assumes Office
Unveiling of Iran’s Laser-Guided Air Defense System
India Announces Five Major Policy Decisions on Pakistan Amid Rising Tensions
Related Posts
MIT Shuts Down DEI Office Amid National Debate and Trump Administration Pressure
GOP Lawmaker Introduces Bill to Rename D.C. Metro as “Trump Train”
Kamala Harris’s 2028 Nomination Is Hers to Lose — and She’s Losing It
Trump Sees Major Wins in Latin America
SpaceX Starship Setbacks Raise Concerns Over NASA’s 2027 Moon Mission
Lashkar-e-Taiba Claims Role in Bangladesh Uprising, Raising Alarms Over Regional Security
More News

Trump Threatens 200% Tariff on European Alcohol

U.S. President Donald Trump has threatened to impose a 200% tariff on wine, champagne, and other alcoholic beverages imported from France and European Union countries. This warning comes in response to European tariffs on U.S.-made whiskey. In a social media post, Trump stated that if these tariffs are not immediately withdrawn, the U.S. will soon […]

68 Rights Organizations Condemn Misogynistic Campaigns by Bangladeshi Religious Extremists Including Hefazat

Dhaka, May 4, 2025 — A total of 68 women’s, human rights, and development organizations have jointly condemned the misogynistic propaganda, disrespectful remarks, and barbaric actions targeting women in the wake of recommendations made by the Women’s Reform Commission in Bangladesh . In separate press statements issued on Sunday, the organizations accused Hefazat-e-Islam and other […]

Living Well With COPD: Effective Strategies for Managing Chronic Lung Disease

Living with Chronic Obstructive Pulmonary Disease (COPD) can be challenging, as it significantly impacts respiratory function and daily activities. However, with informed lifestyle choices and diligent self-care, individuals can manage their symptoms effectively and maintain a better quality of life. Dr. Madhav Chopra, an interventional pulmonologist, shares valuable insights on how to live well with […]

Taliban Engages Russia and China for Local Currency Trade Transactions

The Voice News ;KABUL, May 23 (Reuters) – The Taliban-led administration is in advanced negotiations with Russia to facilitate trade settlements in local currencies, aiming to reduce dependence on the U.S. dollar as both countries continue to grapple with Western sanctions. Afghanistan’s Acting Commerce Minister, Haji Nooruddin Azizi, said in an interview that the Afghan […]

U.S. Federal Agency Recommends Sanctions on India’s RAW

A U.S. federal agency, the United States Commission on International Religious Freedom (USCIRF), has recommended imposing specific sanctions on India’s foreign intelligence agency, the Research and Analysis Wing (RAW). The recommendation comes in response to allegations that RAW was involved in plots to assassinate pro-Khalistan leaders in the United States and Canada, according to a […]

Apple Rejected Elon Musk’s Satellite Offer—Now Its Ambitious Plans Are in Jeopardy

The Voice News: Apple has offered satellite-based emergency messaging on the iPhone since 2022, gradually expanding the service. However, according to a new exposé by The Information, the company once had far more expansive satellite ambitions—efforts that have been scaled back due to concerns over telecom industry partnerships, government scrutiny, and a high-stakes proposal from […]

Justin Welby Admits Failure in Addressing Church Abuse Scandal

Former Archbishop of Canterbury Justin Welby has acknowledged his failure to adequately investigate allegations of abuse within the Church of England, describing the scale of the issue as “overwhelming.” Welby stepped down in November 2024 following intensified calls for his resignation after a damning report revealed his insufficient action against John Smyth, a British lawyer […]

Ukraine’s New Drone-Killer: A Truck Armed with Air-to-Air Missiles

Faced with relentless Russian missile and drone attacks, Ukraine is deploying an unusual but effective air defense system—called the Raven—to protect its cities and military bases. This new weapon is a British-designed hybrid: a medium-sized truck equipped with surplus air-to-air missiles. The Raven pairs the HMT 600 Supacat vehicle with ASRAAM missiles, originally intended for […]

Proposal to Deploy European Troops in Ukraine, Response if Attacked: Macron

French President Emmanuel Macron has proposed deploying a European military force in Ukraine while the peace agreement remains in effect. He stated on Wednesday that if Russia launches an attack, this force will respond. Macron made the statement after discussions with Ukrainian President Volodymyr Zelensky. A detailed discussion on the proposal is set to take […]

The Pink Veil Over California: The Role of Fire Retardant in Wildfire Management

In the heart of California, where the sun kisses the Pacific and the land brims with natural beauty, a new phenomenon has painted the landscape in hues of pink and red. This isn’t a scene from a whimsical art project but the stark reality of battling some of the most ferocious wildfires the state has […]