Bangladeshi Nobel Peace laureate Muhammad Yunus, known as the “banker to the poor” faced conviction for violating Bangladesh’s labor laws in a trial criticized as politically motivated.
Yunus, known for his famous microfinance bank, Grameen, along with three colleagues from Grameen Telecom was found guilty, and sentenced to six months in jail, but granted bail pending appeals.
The 83-year-old Yunus, who lifted millions out of poverty, drew criticism from Prime Minister Sheikh Hasina, accusing him of exploiting the poor.
“I have been punished for a crime that I haven’t committed,” Yunus told reporters after the hearing. “If you want to call it justice, you can.”
“This verdict is unprecedented,” said Abdullah Al Mamun, a lawyer for Yunus. “We did not get justice.”
The verdict follows an array of charges against Yunus, including corruption and fund embezzlement, as Bangladesh approaches a general election on January 7.
Head of Dhaka’s third labor court, Sheikh Merina Sultana, stated that 67 Grameen Telecom employees were to be made permanent, and welfare funds hadn’t been formed. She added that, per the company’s policy, 5% of the company’s dividends was meant to be allocated to the staff.
The opposition party, the Bangladesh Nationalist Party (BNP), led by Khaleda Zia, Hasina’s rival, called for a boycott.
Muhammad Yunus – pioneer of microfinance banking
Yunus, an economist and social entrepreneur, pioneered microfinance banking in the 1970s, believing small loans could empower the landless. Facing over 100 charges, he denies profiting from social businesses.
Yunus is acknowledged for elevating millions from poverty through his groundbreaking use of microloans via Grameen Bank, established in 1983 to assist those unable to secure loans from traditional banks. His efforts in grassroots development in Bangladesh earned him the Nobel Peace Prize in 2006.
After winning the Nobel prize, Yunus considered founding a political party but abandoned the idea due to a lack of support. Hasina’s administration initiated investigations later, drawing international condemnation. UN rapporteur Irene Khan labels the conviction a travesty, and in August, global figures, including Barack Obama and Ban Ki-moon, denounced Yunus’s judicial harassment.
Criticism on Bangladeshi Courts
Critics accuse Bangladeshi courts of rubber-stamping government decisions. Amnesty International alleges the government is weaponizing labor laws, calling for an end to Yunus’s harassment as political retaliation.
Yunus and Grameen faced scrutiny a decade ago over alleged misuse of Norwegian funds, cleared by a subsequent investigation.
In 2011, Yunus was fired and put on trial for violating retirement regulations. The current verdict raises concerns about justice and political influence in Bangladesh’s legal system.
Shock and anger in Bangladesh over jail sentence
Activists and supporters of Muhammad Yunus expressed shock and outrage at the six-month prison sentence imposed on the economist for alleged labor law violations.
Supporters claimed that the government, led by Sheikh Hasina, targeted Yunus due to perceiving him as a potential political threat. “For his work among the poor, Professor Muhammad Yunus got a Nobel Prize, brought honor to Bangladesh, and was hailed as a global social business hero.
Now, using the judiciary, the government is harassing and humiliating him on frivolous grounds. The conviction is indeed a travesty of justice,” stated Mohammad Ashrafuzzaman from the Capital Punishment Justice Project, known for documenting rights violations in Bangladesh.