Dhaka: When Chief Adviser Professor Muhammad Yunus returned to Bangladesh in August, a scene of chaos awaited him. The streets bore the scars of recent violence, with over 1,000 protesters, including children, having lost their lives in a brutal crackdown by police forces.
According to Bangladesh Sangbad Sangstha, the turmoil stemmed from the ousting of Sheikh Hasina, who had ruled with an iron fist for 15 years. Her government fell to a student-led revolution, forcing her to flee the country, leaving behind a trail of alleged human rights abuses and corruption. Prof Yunus, a Nobel laureate known for his pioneering work in microfinance, was invited by the student protesters to lead an interim government aimed at restoring democracy.
Prof Yunus described the situation as dire, likening Bangladesh to a “completely devastated country” with broken institutions and strained international relationships. Allegations of tyranny and corruption plagued Hasina’s administration, culminating in a violent crackdown that attracted international condemnation. Despite Hasina’s denial of excessive force, over 1,400 people were reportedly killed in the protests against her rule.
Under Prof Yunus’s leadership, significant changes have begun to take shape. Senior police officials have been held accountable for past abuses, secret detention centers have been closed, and human rights commissions have been established. Prof Yunus has committed to organizing free and fair elections between December and March 2026, after which he plans to relinquish power.
Despite the progress, there are concerns about the pace of reform and Prof Yunus’s governance capabilities. Political parties, including the Bangladesh National Party (BNP), are eager for elections, while the students who led the revolution have formed their own political party, the Jatiya Nagarik Party, led by Nahid Islam.
The report highlights the extensive corruption under Hasina’s rule, which has left the banking system vulnerable and the economy struggling. Financial authorities in the UK, US, and Switzerland are working to recover approximately $17 billion allegedly siphoned from Bangladesh’s banks. The involvement of Hasina’s niece, UK Labour MP Tulip Siddiq, in the financial scandals has further complicated matters, though she denies any wrongdoing.
India’s relationship with Bangladesh has soured since Hasina’s ousting, with the former leader now taking refuge in India. Prof Yunus has expressed concerns about India’s support for Hasina, warning that it could destabilize Bangladesh.
In a bid to boost Bangladesh’s technological infrastructure, Prof Yunus has invited Elon Musk to deploy his Starlink satellite internet network in the country. A visit from Musk is anticipated in April, and Prof Yunus hopes it will open doors for investment and strengthen Bangladesh’s economic ties with international partners.