Muhammad Yunus

The 83-year-old economist won the Nobel Peace Prize in 2006 for his anti-poverty campaign, earning Bangladesh the reputation of being the home of microcredit through his Grameen Bank, which he founded in 1983. Yunus and three of his colleagues in Grameen Telecom– one of the firms he founded– were accused of violating labour laws when they failed to create a workers’ welfare fund in the company.

The Third Labour Court Judge Sheikh Merina Sultana ordered Yunus to serve six months of simple or non-rigorous imprisonment for violating the law as the Grameen Telecom chairman, along with three other executives of the social business company.

The verdict came just days ahead of the January 7 general election in Bangladesh. His supporters have described the judgment as “politically motivated”.

The Nobel laureate is also facing a series of charges relating to labour law and misappropriation of money. The economist was on a protracted row with the incumbent government due to obscure reasons. The Sheikh Hasina-led administration began a series of investigations against him after coming to power in 2008.

Bangladesh authorities began a review of the statutory Grameen Bank’s activities in 2011 and fired Yunus as its founding managing director on charges of violating the government retirement regulations. Many people believe that Hasina became enraged when Yunus announced he would form a political party in 2007 when the country was run by a military-backed government, and she was in prison.

He was put on trial in 2013 on charges of receiving money without government permission, including his Nobel Prize award and royalties from a book.

Hasina called Yunus a “bloodsucker” and accused him of using force and other means to recover loans from poor rural women as head of Grameen Bank.

He was later granted bail after his court appearance. After his prolonged efforts to settle disputes with the government, Yunus blasted the government for paving the way for the “destruction” of the pioneering micro-lending bank he founded.

In August last year, more than 170 global leaders and Nobel laureates sent an open letter to Prime Minister Hasina urging her to suspend legal proceedings against Yunus.

The signatories included former US President Barack Obama, former UN Secretary-General Ban Ki-moon and more than 100 Nobel laureates.