Nobel laureate Professor Dr Muhammad Yunus leads Bangladesh’s transition after Sheikh Hasina’s fall with his bold vision for reforms, elections, and a new civilization based on social consciousness.

After 15 years of increasingly autocratic rule, Bangladesh witnessed an extraordinary political upheaval last year. Sheikh Hasina, the country’s longest-serving prime minister, was ousted following a tidal wave of mass protests, international condemnation, and internal dissent. Now, Nobel laureate Muhammad Yunus, 84, has emerged as the unlikely steward of a fragile nation seeking to forge a democratic and prosperous new future.

In a compelling and candid interview with Al Jazeera, Yunus unveiled his vision for a “New Bangladesh” — a country free from corruption, repression, and systemic decay. Yet, the task ahead is monumental: not only must Yunus oversee sweeping reforms, but he must also navigate fraught international relations, internal divisions, and the ever-looming shadow of the old regime.

The “Second Liberation”: A New Dawn

Yunus describes the fall of Sheikh Hasina’s regime as Bangladesh’s “second liberation”. He recounts how rampant corruption, institutional decay, and state-sponsored brutality galvanised the nation’s youth into an unstoppable force for change, culminating in the mass demonstrations of August 2024.

“This is the beginning of a new Bangladesh,” Yunus said. “The old Bangladesh was terrifying. Now we have the chance to set things right.”

Despite widespread optimism, Yunus is under no illusions. “Our greatest fear is a return of the old elites,” he admitted. His interim government’s priority is to build safeguards through deep institutional reforms.

15 Commissions, the “July Charter”, and the Blueprint for the Future

The roadmap to reform rests on the work of 15 independent commissions tasked with constitutional, electoral, administrative, and judicial overhaul. Their recommendations are now being distilled into the “July Charter” — a historic consensus document to be signed by all political parties, including youth-led formations born from the Monsoon Revolution.

“The idea is simple: to bind future governments to a new standard of governance,” Yunus said. “No leader will have the right to deviate.”

Elections on the Horizon: A Test of Credibility

Bangladesh’s interim government has committed to holding free and fair elections between December 2025 and June 2026. International observers are welcome, Yunus confirmed, as he promised that the forthcoming polls would be “the best elections ever” in the country’s history.

The participation of Sheikh Hasina’s Awami League remains uncertain, but Yunus stressed that legal eligibility would be decided impartially through the courts and electoral commission.

Justice for the Past: Trials, Asset Recovery, and Accountability

A significant part of the transition includes delivering justice for crimes committed under the Hasina regime. UN-led investigations have already documented widespread human rights abuses and financial corruption.

Trials for crimes against humanity are expected to begin imminently. Yunus emphasised, “Nobody will be spared — whether military or intelligence officials — if they committed crimes.”

He detailed how billions syphoned out of the country are being traced to Europe, the Caribbean, and Asia. “Foreign governments are cooperating,” he noted. Asset recovery efforts are underway, with several high-profile cases, including that of British MP Tulip Siddiq — Sheikh Hasina’s niece — under legal scrutiny.

Diplomatic Tightrope: India, China, and the Global Stage

Bangladesh’s diplomatic landscape is complex. Tensions with India have simmered over Hasina’s asylum in New Delhi, where she continues to issue statements undermining the interim government.

Yunus confirmed that Bangladesh has formally requested India to extradite Hasina, but New Delhi has yet to respond, citing freedom of speech concerns.

“I don’t see it as a cold shoulder,” Yunus said diplomatically. “It’s something we must resolve legally.”

Meanwhile, Yunus has sought to strengthen ties with other regional players, including China, Thailand, and Malaysia, while rejuvenating regional platforms like SAARC and BIMSTEC.

Washington, Beijing, and Trade Pressures

Relations with the United States are delicate. While Yunus insists that Bangladesh maintains warm ties with the Trump administration, the country has nonetheless been caught in the crossfire of America’s broader protectionist policies.

“We are friends with everyone — USA, China, India,” Yunus said firmly. “We will not be forced to choose sides.”

Building a New Civilization: Beyond Greed-Driven Capitalism

Yunus also used the platform to critique the global economic model, calling for a new “socially conscious civilisation” to replace today’s self-destructive capitalist order.

He envisions an economy where profit-maximising businesses coexist alongside “social businesses” — enterprises dedicated solely to solving societal problems without seeking personal profit.

“We must release the creativity of every human being,” Yunus argued. “Job-driven economies limit human potential.”

Protecting the Most Vulnerable: IMF, Reforms, and Inequality

Mindful of the economic strain following the political transition, Yunus pledged that IMF-imposed reforms would not burden Bangladesh’s poorest citizens.

“It would be a shame if our reforms hurt the vulnerable,” he said. “Our duty is to create an economy that cares for all.”

With half the population under the age of 27, Yunus is confident that Bangladesh’s youthful dynamism, combined with technology, can work miracles — if given the right systems and opportunities.

One Nation, United

One of the most profound achievements of the Monsoon Revolution, Yunus said, was uniting Bangladesh’s rural and urban populations, young and old, men and women, under a shared vision for change.

“In hours, not months, we came together,” he said. “It was miraculous.”

The Final Chapter: A Legacy of Hope

As Bangladesh stands at a historic crossroads, Yunus, despite being in his mid-80s, sees this mission not as a burden, but as a once-in-a-lifetime opportunity.

“This is a clean slate,” he said with unmistakable emotion. “History has given us a chance to create a new Bangladesh. We must not waste it.”

The world will watch closely in the months ahead. Will Muhammad Yunus and the new Bangladesh rise to the promise of their second liberation?