Professor Yunus and the government

• Miscellaneous
• 09th March 2011
• YC

In recent months, the people of Bangladesh (and the world) have witnessed some momentous events. The opening ceremonies of world cricket match in Dhaka, the great people's uprising in the Middle East, the falling of autocrats Ben Ali and Hosni Mubarak, and now the ongoing citizen's revolt in Libya that would hopefully lead to the ouster of yet another tyrannical dictator, Moummar Gaddafi.

One might ask, amidst these events, why so much hoopla about the removal from office of Muhammad Yunus? In the past few days, nearly every major outlet in the Bangladeshi media, and the global media has covered the saga of Prime Minister Hasina's attempt to force from the office the founder of the world-renowned institution and pride of Bangladesh, the Grameen Bank (GB). Whether the government succeeds or not, it is obvious that considerable damage has been to Prime Minister's personal reputation as a progressive leader who cares about the country and is devoted to the cause of the poor and women. More ominously, the episode has sullied the reputation of the nation as an up and coming economy where people are hard working, the leaders are of high caliber, the social sector incredibly innovative, and the private sector ready to take off. Columnists have mentioned the Transparency International's ranking of corruption in Bangladesh, commented that this seems to be a political vendetta not worthy of a maturing democracy, and discussed that this is a strange way to treat the nation's only Nobel Prize recipient and an eminent citizen

From the prestigious outlets in England - Economist, the Daily Telegraph, the BBC, and The Guardian - to media outlets in India such as The Hindu, and in Pakistan - The Dawn, to outlets in America such as The New York Times - global media has covered this David and Goliath battle between a Banker and the Prime Minister. No other event from Bangladesh in recent years has garnered such intense media attention in the global media. The coverage is generally negative. . What gives? On the one hand is Dr. Yunus, a "managing director" of what the government claims is a public bank, and on the other, the entire might of the state apparatus - the Prime Minister with her bully pulpit, the Governor of the central bank, the powerful Finance Minister and his ministry, and some would say even the nation's highest judiciary. By any standards, this is an unequal struggle. By most betting rules, Mr. Yunus, the banker, does not stand a chance. There is only one catch. The banker in this case is no ordinary banker. Muhammad Yunus is arguably among the world's most well-known and eminent citizens. His 2006 Nobel Prize in Peace only capped what has been an extraordinary journey that continues. He was in the White House in 2009, receiving from President Obama the President's Medal of Honor, and will be back later this year to receive the highest honor the US Congress can bestow - no mean achievement for a college professor who once taught economics.

Despite what we have heard and read in the media, many questions remain unanswered about the government's motives. What does the Prime Minister gain from cutting down Mr. Yunus? Is this just a naked power play on her part, or there is more to this than meets the eye? For example, was it jealousy as some have suggested that Mr. Yunus received the Noble Prize that she covets? Is it self-preservation given Mr. Yunus is an eminently viable candidate for becoming a future Prime Minister or President, the prudent move would be to eliminate the threat now? Did she and her close associates not consider the damage to her personal reputation and the harm to the good name of the country engendered by these trumped up proceedings? Why did Mr. Muhith, the finance minister, who in fact played a significant role in establishing the Grameen Bank as a special public institution in 1983, and initially defended Mr. Yunus, abruptly turned his back on his former menter? Why did he not take a principled stand on the issue and resign rather than be the man who fired the nation's most eminent banker on a technicality? Finally, was there any dissent within the ruling party against this unwise move?

Perhaps, the answers to these questions are obvious. Lord Acton famously wrote in 1887, "Power tends to corrupt, and absolute power corrupts absolutely." In the coming days, we should know more but it is evident that this has been an episode of overreach at best and self-destructive behaviour at worst for the government of a nation that needs all the talent and goodwill it can muster to join the club of middle-income nations.

What separates great leaders from simply good leaders? In the bestseller, Good to Great, Jim Collins discusses the characteristics of business leaders - he calls them "Level 5" leaders - who have taken their companies from being merely good to enduring companies. These leaders "blend extreme personal humility with intense professional will."

In the context of Bangladesh, Professor Yunus (Grameen Bank) and Sir Abed (BRAC) certainly exemplify such leaders in the non-profit or citizen sector. One major trait of such leaders is that they do not seek attention for themselves but shine light on their team. Based on their monumental achievements, both men have garnered much global recognition. However, neither has craved for attention. Those who have met these two leaders speak of their humility and accessibility.

If Yunus and Abed had chosen to go into business or politics, chances are that would be on top of their chosen field, very wealthy or powerful. Instead, they chose the unglamorous path of working for the poor and destitute in remote and forgotten villages. It was remarkable to see on the stage sharing the glory with Mr. Yunus the eight members of the Grameen Bank (GB) board, all women from humble backgrounds who had rebuilt their lives because of his good work. It was unprecedented in the history of the Noble Prize.

What comes next? One of the unintended consequences could be that this experience will energize Professor Yunus and his supporters to reconsider the plan to stay away from the political arena. Suppose he decides to re-launch his political party, an idea he considered actively in 2007? At the time, he spoke of the great need to change the political culture that was destroying the country's future. He wrote of creating a "proper political structure conducive to the huge task of building a Bangladesh we all dream of, by freeing ourselves from all past frustrations."

In 2007, he wrote, "It is now clear to all that it is not possible to reach the goal maintaining the existing political culture; it is only possible by bringing a comprehensive change to the culture. Through my work and experience, I feel with all my heart that the people with their innate sense of endeavour and creativity can achieve the impossible if political goodwill, competent leadership and good governance can be established. If I have to form a political party in response to the people's desire, it will be dedicated to this very objective."

Someone said we get leaders that we deserve. The people of Bangladesh are good and decent; they are honest, caring and hardworking. They are energetic and ambitious. They are determined to rise from poverty to build a prosperous nation. They deserve the best leaders in the arena of politics, public service, business and the greater civil society. Friends and foe agree that Professor Yunus is among the finest citizen leaders the nation has produced. Let us honour him. Let us work together, no matter what our political affiliations are for justice. As a nation, it is time we realize and appreciate that we are blessed with not one but two of world' most famous anti-poverty crusaders - Muhammad Yunus and Fazle Abed. What they have done for Bangladesh, no amount of foreign assistance can equal. They are true patriots who deserve the highest honor the nation can bestow.

It is not too late to seek an appropriate resolution to this unhappy conflict. There are sufficient number of people of goodwill on both sides to find common ground and avoid a protracted court battle. Dr. Yunus, by all accounts, is ready and willing to step down. As we have come to know that he offered to retire last year from the active management of the Bank in a letter to Mr. Muhith. He seeks a graceful and honourable exit and a period of transition to ensure the new leaders gain trust of the borrowers to avoid a run on the bank. He has prepared a succession plan. Given his enormous contributions, these terms are reasonable. The government can chose to reach a solution to resolve the crisis and salvage its reputation for honourable dealings and enhance the image of Bangladesh as a nation with mature leaders who are able to work for the common good.

The writer, Dr. Munir Quddus teaches economics and serves as a Business School dean, based in Houston, Texas, USA. He can be reached at e-mai: munirtasmina@sbcglobal.net