Dr Yunus has Taken Office with the Promise of Significant Reforms: A Grassroots Approach to Development is Essential

Dr. Pamelia Riviere

Citizens desired greater transparency regarding the scope and impact of his NGO-related activities. They long for a leader who embodies the qualities of a skilled navigator, guiding the country toward stability and progress, akin to the exemplary reformist figure of Dr. Muhammad Mahathero, renowned for his visionary leadership. Additionally, there is a growing sentiment among netizens who wish to see Dr. Yunus embody the neutrality and integrity demonstrated by Chief Justice Mohammed Shahbuddin Ahmed during his tenure as a caretaker government head (1990-1991) during the election period. This historical context highlights the population's aspiration for a balanced, fair leadership approach prioritizing the public's interests. Later, he served as the president of Bangladesh from 1996 to 2001. 

Furthermore, the adage "Nobody wants to see whoever goes to Lanka become Ravana" resonates strongly, suggesting that citizens are wary of leaders who may manipulate their power for personal gain, reminiscent of the mythological demon king. Instead, they yearn for a leader who will steer clear of such pitfalls and work diligently to uphold democratic values and foster unity in a tumultuous political landscape.

In this article, I delve into several pressing issues concerning the activities of Bangladesh's Chief Advisor, Professor Dr. Muhammad Yunus, particularly relating to his organizations, 666 crores of tax amount exemption, Grameen University approval, Grameen Trust, Starlink, including the construction of a new student political party. As the nation grapples with an array of instability challenges—ranging from law enforcement issues to social unrest—many citizens are increasingly concerned about Dr. Yunus's emphasis on his non-governmental organization (NGO) initiatives. They are questioning the prioritization of development in these areas over immediate governance concerns.

Grameen Bank and Tax Exemption: Before Dr. Muhammad Yunus became chief adviser to the interim government, his prison sentence was overturned, marking a significant turning point in his career. In addition, more than 100 legal cases previously filed against him were withdrawn, effectively clearing his legal standing. Soon after Dr. Yunus took office, Grameen Bank regained the tax exemption benefits revoked during the Awami League regime. This tax exemption is significant as it allows Grameen Bank to allocate more resources to its microfinance initiatives, demonstrating a shift in government policy favouring his initiatives.

Grameen Trust: In this context, another organization affiliated with Dr. Yunus, known as Grameen Trust, received governmental approval to invest abroad, facilitated by a relaxation of previously stringent investment regulations. This change reflects a broader strategy to bolster financial initiatives aimed at poverty alleviation on an international scale.

Dr. Yunus was pivotal in establishing Grameen Bank in collaboration with the government and served as its managing director for many years. He currently holds the position of chairman for both Grameen Bank and Grameen Trust. While there is no formal direct connection between his various enterprises, a foundational relationship exists, underpinned by a shared mission to empower impoverished communities through microfinance. 

Grameen Telecom: One notable entity within this network is Grameen Telecom, which holds a significant stake, approximately one-third, in Grameenphone, Bangladesh's leading mobile telecommunications provider. Grameen Telecom is a subsidiary of Grameen Bank, the pioneering microfinance institution founded by Dr. Yunus. Another key initiative, Grameen Trust, focuses on providing critical financial support to various micro-credit organizations and social business projects dedicated to poverty alleviation locally and internationally. Reflecting the core principles of Grameen Bank, Grameen Trust extends financial, technical, and training assistance to microfinance institutions around the globe.

Despite its global reach, the organization faces challenges due to existing government regulations aimed at preventing money laundering when investing money abroad from Bangladesh. While the government has permitted select companies to pursue international investments, the recent dollar crisis has halted new permissions. Nevertheless, Bangladesh Bank has acknowledged Grameen Trust's shares in a Nepalese company as a valid foreign investment, granting it an important status.

Experts have raised concerns about the uniquely favourable regulatory environment and the special privileges extended to Dr. Yunus under these circumstances. Over a decade ago, Grameen Trust acquired shares in Nepal's microfinance institution, Nirdhan Uttan Bank Limited, in exchange for training and technical assistance. After fulfilling the necessary stipulations, this stock has recently been classified as a foreign investment, further validating the organization's international presence.

With the recognition of Grameen Trust's investment in Nepal, the total number of Bangladeshi investors operating abroad has reached 24. Additionally, Grameen Trust has obtained a similar shareholding in a microfinance organization based in the African nation of Congo, which is expected to receive foreign investment status soon. While these international investments can bring in more revenue and expertise, they also carry currency fluctuations and geopolitical instability risks. The Trust actively engages in similar efforts across various countries, including Pakistan, South Africa, Yemen, Bolivia, and the United States.

Grameen Trust holds 406,265 shares, representing 1.56 percent of Nirdhan Uttan Bank Limited. The company has a market value of approximately 4,626,493 Nepalese rupees, underscoring its impact on the microfinance sector in Nepal and beyond, as BDDIGEST reported on March 10, 2025. 

Starlink with Elon Musk: Chief Adviser Prof. Muhammad Yunus engaged in a comprehensive discussion with Elon Musk to explore potential collaboration aimed at advancing the introduction of the Starlink satellite internet service in Bangladesh. During their conversation, Prof. Yunus and Musk examined how high-speed, low-cost internet connectivity could effectively bridge the digital divide across the country. They identified the promise of improving education, healthcare, and economic development, especially in underserved regions. They emphasized how millions of minor and micro-entrepreneurs could access global markets, transcending national boundaries. Prof. Yunus highlighted that implementing Starlink would be a natural extension of Grameen Bank and Grameenphone's visionary efforts to connect rural women and youth to the broader world. He articulated a powerful vision: "They would become global women and kids and global entrepreneurs," reflecting his belief in the transformative power of connectivity. As The Daily Star News reported on February 14, 2025, this engagement represents a crucial step toward establishing advanced satellite connectivity in Bangladesh. It fosters economic growth, promotes digital inclusion, and stimulates innovation nationwide. The potential for an empowered, connected populace is within reach through such initiatives, paving the way for a more equitable and prosperous future in the realm of technology. 

However, other telephone industries could be part of Starlink. 

Grameen University: The Interim government Chief Advisor, Dr Yunus, recently approved Grameen University, a new private university. 

According to a report from the Dhaka Tribune on March 18, 2025, a new institution will operate under the Grameen Trust, which Dr. Muhammad Yunus founded. On Monday, the Ministry of Education issued an approval letter to Md Ashraful Hasan, the chairman of the Board of Trustees.

With this addition, the country's total number of approved private universities now stands at 116. The letter grants the university temporary approval under 22 conditions for its establishment and operation, valid for seven years.

The proposed university must comply with all provisions and regulations outlined in the Private University Act 2010. It should have its own or rented premises covering a minimum area of 25,000 square feet and at least three faculties, each containing a minimum of two departments. Additionally, the university must maintain a reserved fund of at least Tk 1.5 crore in a scheduled bank, among other requirements.

Tax Exemption Dispute TK666 Crore: The High Court's recent verdict regarding Grameen Kalyan's tax dispute of Tk666 crore has raised questions among the public. On October 3, 2024, Business Standard News reported that the decision was prompted by one of the judges expressing discomfort due to a conflict of interest while preparing the entire judgment. Grameen Kalyan, an organization founded by Nobel laureate Muhammad Yunus, had previously been ordered by the High Court on August 4 to pay Tk666 crore in taxes to the National Board of Revenue (NBR). The withdrawal of this ruling occurred after Justice Sardar Md Rashed Jahangir, a member of the two-judge bench, disclosed that he had previously served as a deputy attorney general and had represented the government in this case. This revelation surfaced while the complete text of the August 4 ruling was being prepared. Consequently, the High Court bench, which includes Justice Mohammad Khurshid Alam Sarkar and Justice Jahangir, retracted the verdict based on the identified conflict of interest. The case documents have now been forwarded to the Chief Justice, who will appoint a new bench to rehear the case. Lawyer Abdullah-Al-Mamun, representing Yunus, stated, "The bench recognized that the ruling would be flawed, as one of the judges had previously represented the government. This puts us in a challenging position, and we hope it does not lead to misunderstandings about the integrity of the judicial process." The original ruling, delivered on August 4, had dismissed a writ filed by Grameen Kalyan, which challenged the NBR's tax demand for the fiscal years between 2012 and 2017. At that time, the High Court's decision had compelled Dr. Yunus's organization to settle its tax liability with the government.

Other issues in the Education Sector Need More Attention:

Despite Bangladesh currently hosting 116 universities, the necessity for yet another university approval raises significant questions. Before aspiring to develop an institution rivalling prestigious universities like Oxford, Cambridge, Harvard, Yale, Columbia, or Stanford, Dr Younus could allocate his financial and temporal resources to enhance Bangladesh's primary and secondary education. This is especially crucial considering the alarming statistic of millions of children dropping out of school in Bangladesh. In Bangladesh, a significant number of children, especially those aged 5 to 24, are affected by school dropouts. According to UNICEF, over 26.2 million children and youth are not engaged in formal education, and the dropout rate rose from 1.71% in 2020 to 9.36% in recent years. While it is challenging to determine the exact number of children who dropped out of school in Bangladesh by 2025, recent data shows that 33 million children had their education disrupted due to climate crises in 2024. Additionally, there was a considerable increase in the dropout rate linked to the pandemic as of January 26, 2025.

Moreover, the nation grapples with societal issues, including youth involvement in gang activities and their participation in student politics, which often leads to crime and violence. The illiterate youth group is joining in either illegal activities such as robbery or student politics. Dr Yunus could have taken the initiative to educate them and create employment opportunities to prevent this situation. 

Additionally, persistent challenges in the education system include the inefficient printing of textbooks and insufficient teacher training institutes.

Textbook Printing Issues: Each year, Bangladesh undertakes the extensive task of printing textbooks for its students, which raises questions about the necessity and efficiency of such an approach. In contrast, elementary school children in Canada typically do not carry textbooks with them. Instead, they arrive at school, where they access the materials stored in their desks, making it convenient for them to engage directly with their lessons without the burden of transporting books daily. High school students are assigned textbooks for subjects like mathematics and science to use at home but must return them after the final examinations. 

If a student fails to return a textbook, financial penalties are imposed. This system operates efficiently, allowing for the reuse of learning materials and thereby optimizing educational resources. It encourages accountability and ensures that resources remain available for future students. 

In contrast, the annual printing of textbooks in Bangladesh appears to be an unnecessary expenditure of public funds unless there is hidden intent behind these revisions, such as introducing a curriculum that aims to instill specific government-endorsed ideologies or narratives among young learners.

 Given the current financial constraints and the importance of resource allocation in education, the urgent question arises: Should printing new textbooks each year be reevaluated and ultimately halted? Emphasizing a more sustainable and cost-effective approach to educational resources could better serve the nation's students and taxpayers. 

Three Zero Theory:  Doctor Yunus's theoretical framework for achieving zero poverty highlights the need to address these foundational issues. Without tackling illiteracy and focusing on capacity-building initiatives for education accessible to all, pursuing the establishment of a high-ranking university appears misaligned with the nation's pressing needs at this time. Dr. Younus has taken office with the promise of significant reforms, aiming to control corruption and restore law and order nationwide. A grassroots approach to development is essential to realize tangible progress rather than concentrating solely on elevating elite educational opportunities.

About Grameen University, Bangladesh currently has a substantial number of degree mill universities, raising questions about the necessity of establishing another institution like Grameen University. The existing universities often struggle to prioritize research and the development of innovative solutions, which are crucial for the country's progress. 

Instead of investing in another degree-granting institution, a more impactful approach would be creating a vocational training center specifically for dropout students and individuals involved in gang-related activities. This center could provide comprehensive skill development programs focusing on high-demand trades such as plumbing, electrical work, and computer technology. By equipping these individuals with marketable skills, we could help them reintegrate into society as skilled workers who contribute positively to the economy and reduce recidivism.

Furthermore, Dr Yunus could allocate a substantial tax redemption of 666 crore to support vocational training centers' establishment and ongoing operations. This financial investment could be pivotal in facilitating rehabilitation efforts, providing job placement services, and establishing partnerships with local businesses to ensure the successful transition of participants into the workforce. By focusing on these initiatives, we can foster sustainable economic growth while constructively addressing the root causes of gang involvement.

People's Expectations of the Chief Advisor

Bangladeshi citizens trusted Dr Yunus, holding on to the hope that he would steer the country toward a brighter future. However, his recent actions have left citizens bewildered and unsure. Mr. Nurul Kabir, a journalist and the editor of the New Age newspaper, has managed to clarify a few doubts about the Interim government's plans and intentions. Suppose Dr. Yunus continues to support mega-conservative groups, including the new student party named National Citizen Party while denying the celebration of several significant days. The consequences of the denial of the importance of February 21, March 7, March 25, March 26, and December 14 and 16 could be dire. Many Bangladeshis would likely turn their backs on the interim government, leading to a significant loss of respect and influence in Bangladeshi society.

Apparently, the new student movement advocates for a political landscape rooted in Islamic civilization rather than one centred on nationalism. This has sparked a debate among various factions within our community. Some believe that the concept of Khilafat is at odds with Bangladesh's cultural and historical context. If Dr. Yunus chooses to endorse this Khilafat ideology, the broader Bangladeshi population must firmly resist it.

The reality is that these individuals cannot remain hidden forever behind their ideological masks. Eventually, they must confront the truth and reveal their true identities. Dr. Yunus needs to reevaluate his decision to accept the role of leader and Chief Advisor of an interim government with ties to such controversial ideologies. He mustn't succumb to the allure of what is being referred to as Zionism or, more troublingly, Islamic Zionism. Bangladesh’s society's future may depend on Dr. Yunus's determination to navigate these complex waters with integrity and purpose. 

Dr. Pamelia Riviere is a freelance writer and analyst.