Muhammad Yunus says corruption claims are ‘media fabrications’
The Nobel laureate is credited with lifting millions out of poverty with his pioneering micro-credit bank
By Eastern Eye Nov 17, 2023
THE Nobel peace laureate Muhammad Yunus has condemned what he says is a smear campaign driven by “powerful quarters”, saying news outlets in Bangladesh have falsely accused him of corruption.
Yunus, 83, is credited with lifting millions out of poverty with his pioneering micro-credit bank. However, he has fallen afoul of prime minister Sheikh Hasina, who has accused him of “sucking blood” from the poor.
State-run media, news websites and social media have accused him of corruption and of financially aiding Israel, a flashpoint issue in Muslim-majority Bangladesh, which does not recognise the country.
“I don’t want to name names, but I believe these are backed by powerful quarters”, he said, adding that he categorically denied the reports.
Yunus, who rarely comments on Bangladeshi matters after a brief foray into politics in 2007, said he was compelled to speak out after repeated allegations of corruption in an apparently coordinated media campaign.
“We have seen a network of social media pages and websites produce numerous false and fabricated content with distorted photos and videos targeting me,” he said. “They even attributed false quotes to me.”
Hasina, 76, is readying for general elections due by the end of January. She has been accused of ruling Bangladesh with an iron fist and the United States has sanctioned some of the south Asian nation’s most senior poice figures for widespread human rights violations.
The past year has seen a series of huge rallies against Hasina’s administration by protesters demanding that a neutral caretaker government preside over the elections. Hundreds of senior political opposition leaders have been arrested, with top figures charged with murder after a policeman was killed during recent anti-government protests.
The government has “cracked down on dissenting voices”, said Abdullah Al Mamun, a professor of journalism at the University of Rajshahi, calling the Yunus smear campaign “disgraceful”.
“Yunus has become a significant target because of his good ties with the Americans, who have ratcheted up pressure on the government for a free and fair election”, he said.
Bangladeshi media quoted a top official from Hasina’s ruling Awami League, AJM Nasir Uddin, claiming Yunus had donated $10 million (£8.17m) to Israel. However, he did not reply to requests asking for more details about his comment.
The Bangla Insider website said in its story that information on the alleged donation came from an Israeli foreign ministry statement. But the ministry told reporters that no such statement exists.
The Bangla Insider editor Syed Borhan Kabir did not provide further information for his report, which Yunus dismissed as “fake news”.
“I ignored the campaigns with the hope that it will stop on its own. But in recent months the disinformation and smear campaigns have worsened to an unprecedented level,” Yunus said.
Yunus won the Nobel Peace Prize in 2006 for founding the Grameen Bank, which is credited with helping eradicate extreme poverty in Bangladesh by offering micro-finance loans to tens of millions of rural women.
He is now bogged down battling 175 separate criminal and labour tribunal cases related to social business firms he set up to create jobs and bring services to the poor.
His lawyers say he is innocent of all charges and decry the cases as government harassment.
Yunus appeared in court last Thursday (9) for a case in which he is accused of violating labour laws.
If found guilty, he faces up to six months in jail.
In August, 160 global figures including former US president Barack Obama and ex-UN secretary-general Ban Ki-moon published a joint letter condemning the “continuous judicial harassment” of the micro-credit pioneer.
The signatories – including more than 100 of his fellow Nobel laureates – said they feared for “his safety and freedom”. (AFP)
TENSIONS with Pakistan, fluctuating ties with Bangladesh, and growing Chinese influence in Nepal and Sri Lanka have complicated India’s neighbourhood policy, a top foreign policy and security expert has said.
C Raja Mohan, distinguished professor at the Motwani Jodeja Institute for American Studies at OP Jindal Global University, has a new book out, called India and the Rebalancing of Asia.
He also described how India’s engagement with the US, Japan, Australia and Europe has moved from symbolism to one of substance. Raja Mohan said, “After independence, India withdrew from regional security politics, focusing on global issues and non-alignment. But the past decade has seen a reversal. India is now back in the Asian balance of power. The very concept of the ‘Indo-Pacific’ reflects that, putting the ‘Indo’ into the ‘Pacific.’”
The idea, he explained, has deep historical roots: “The British once viewed the Indian and Pacific Oceans as interconnected realms. Now, after decades of separation, those spaces are merging again.”
Narendra Modi with Xi Jinping and (right)Vladimir Putin at last month’s SCO summit in China
While India once aspired to build a “post-Western order” alongside China, those dreams have long since faded, according to the expert.
“Contradictions between India and China have sharpened,” he said, citing territorial disputes, a $100 billion (£75bn) trade deficit, and China’s growing influence among India’s neighbours.
By contrast, India’s ties with the US and Europe have strengthened.
“Where once India shunned security cooperation with Washington, it is now deeply engaged,” he said. Yet he emphasised that India remains an independent actor, “not a traditional ally like Japan or Australia.”
His comments were made during the Adelphi series, hosted by the International Institute for Strategic Studies (IISS) last month. According to the expert, who is also a visiting research professor at the National University of Singapore, the return of India to regional security politics marks a significant change in its foreign policy since independence. Popular discussions about the “rise of Asia” tend to oversimplify what Raja Mohan explained was a deeply uneven transformation. “It’s more accurate to say Asia as a whole is rising,” he said, adding, “but not evenly. China has risen much faster than the rest.”
This imbalance has created internal contradictions within Asia, according to the academic. “China’s sense of entitlement to regional dominance and its territorial claims have provoked reactions from other Asian countries,” he said.
While China’s economic ascent, once “a marriage of Western capital and Chinese labour”, that relationship has strained over the past 15 years as the Asian country grew into a global military and economic powerhouse, according to Raja Mohan.
And the US, which previously nurtured China’s growth, now seeks to restore balance in Asia, shifting from a policy of engagement to one of cautious competition, he said.
Dwelling on India’s rise, he said, “The question is not whether India can match China alone, but whether it can help build coalitions that limit unilateralism. History shows weaker states can play crucial balancing roles, as China once did against the Soviet Union.”
He explored how the US-China and India-China dynamics might evolve, particularly under US president Donald Trump.
“Some believe the US is retrenching to focus on Asia, others think Trump might seek a grand bargain with China,” Raja Mohan said. “Much depends on how Washington manages its ties with Russia and its global posture.”
He also described how India’s engagement with the US, Japan, Australia and Europe has moved from symbolism to one of substance. Raja Mohan said, “After independence, India withdrew from regional security politics, focusing on global issues and non-alignment. But the past decade has seen a reversal. India is now back in the Asian balance of power. The very concept of the ‘Indo-Pacific’ reflects that, putting the ‘Indo’ into the ‘Pacific.’”
The idea, he explained, has deep historical roots: “The British once viewed the Indian and Pacific Oceans as interconnected realms. Now, after decades of separation, those spaces are merging again.”
While India once aspired to build a “post-Western order” alongside China, those dreams have long since faded, according to the expert.
“Contradictions between India and China have sharpened,” he said, citing territorial disputes, a $100 billion (£75bn) trade deficit, and China’s growing influence among India’s neighbours.
By contrast, India’s ties with the US and Europe have strengthened.
“Where once India shunned security cooperation with Washington, it is now deeply engaged,” he said. Yet he emphasised that India remains an independent actor, “not a traditional ally like Japan or Australia.”
His comments were made during the Adelphi series, hosted by the International Institute for Strategic Studies (IISS) last month. According to the expert, who is also a visiting research professor at the National University of Singapore, the return of India to regional security politics marks a significant change in its foreign policy since independence. Popular discussions about the “rise of Asia” tend to oversimplify what Raja Mohan explained was a deeply uneven transformation. “It’s more accurate to say Asia as a whole is rising,” he said, adding, “but not evenly. China has risen much faster than the rest.”
This imbalance has created internal contradictions within Asia, according to the academic. “China’s sense of entitlement to regional dominance and its territorial claims have provoked reactions from other Asian countries,” he said.
While China’s economic ascent, once “a marriage of Western capital and Chinese labour”, that relationship has strained over the past 15 years as the Asian country grew into a global military and economic powerhouse, according to Raja Mohan.
And the US, which previously nurtured China’s growth, now seeks to restore balance in Asia, shifting from a policy of engagement to one of cautious competition, he said.
Dwelling on India’s rise, he said, “The question is not whether India can match China alone, but whether it can help build coalitions that limit unilateralism. History shows weaker states can play crucial balancing roles, as China once did against the Soviet Union.”
He explored how the US-China and India-China dynamics might evolve, particularly under US president Donald Trump.
“Some believe the US is retrenching to focus on Asia, others think Trump might seek a grand bargain with China,” Raja Mohan said. “Much depends on how Washington manages its ties with Russia and its global posture.”
China, he noted, has already toned down its aggressive “wolf warrior” diplomacy, realising that assertiveness has backfired. Yet the underlying structural contradictions between China and both the US and India “are unlikely to disappear.”
Asked about India’s balancing act between the US and Russia, especially after Moscow’s invasion of Ukraine, the expert was pragmatic.
“India has steadily moved closer to the US and the West, but Trump’s trade-first approach has caused turbulence,” Raja Mohan said.
He cited the threats of high tariffs on Indian imports and resentment over trade imbalances with Washington DC.
On Russia, Raja Mohan’s view was that the relationship has been “in slow decline since the 1990s.”
While India’s GDP now outpaces Russia’s, it continues to engage Moscow for practical reasons. “India’s oil purchases from Russia rose from two per cent to forty per cent after 2022. That’s pragmatism, not alignment,” Raja Mohan said.
He added that prime minister Narendra Modi’s recent handshakes with China’s president Xi Jinping and Russia’s president Vladimir Putin at the Shanghai Co-operation Organization (SCO) summit in China were “signals, reminders to the West that India has options.”
Raja Mohan said India was at the cusp of a historic transformation. “India once provided security across Asia - in both world wars, millions of Indian soldiers fought overseas. That history was forgotten when India withdrew from global security,” he said.
“Now we are reclaiming that role. Ideally, the partnership with the US is the best. But if not, India and other Asian powers will have to shoulder the burden themselves.”
“Japan, Korea, India, Australia - all will have to do more on their own,” he said. “We’ll need to pull up our own bootstraps.”
Dr Benjamin Rhode, senior fellow at IISS, chaired the session.
aggressive “wolf warrior” diplomacy, realising that assertiveness has backfired. Yet the underlying structural contradictions between China and both the US and India “are unlikely to disappear.”
Asked about India’s balancing act between the US and Russia, especially after Moscow’s invasion of Ukraine, the expert was pragmatic.
“India has steadily moved closer to the US and the West, but Trump’s trade-first approach has caused turbulence,” Raja Mohan said.
He cited the threats of high tariffs on Indian imports and resentment over trade imbalances with Washington DC.
On Russia, Raja Mohan’s view was that the relationship has been “in slow decline since the 1990s.”
While India’s GDP now outpaces Russia’s, it continues to engage Moscow for practical reasons. “India’s oil purchases from Russia rose from two per cent to forty per cent after 2022. That’s pragmatism, not alignment,” Raja Mohan said.
He added that prime minister Narendra Modi’s recent handshakes with China’s president Xi Jinping and Russia’s president Vladimir Putin at the Shanghai Co-operation Organization (SCO) summit in China were “signals, reminders to the West that India has options.”
Raja Mohan said India was at the cusp of a historic transformation. “India once provided security across Asia - in both world wars, millions of Indian soldiers fought overseas. That history was forgotten when India withdrew from global security,” he said.
“Now we are reclaiming that role. Ideally, the partnership with the US is the best. But if not, India and other Asian powers will have to shoulder the burden themselves.”
“Japan, Korea, India, Australia - all will have to do more on their own,” he said. “We’ll need to pull up our own bootstraps.”
Dr Benjamin Rhode, senior fellow at IISS, chaired the session.
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