August 6, 2024: Infosys founder Narayana Murthy emphasized the enduring relevance of Nobel laureate Muhammad Yunus’ ideas, especially in light of recent political upheaval in Bangladesh. Writing in The Print, Murthy highlighted Yunus’ pivotal role in pioneering the global microcredit movement. Since the mid-1970s, Yunus has created numerous organizations benefiting not just Bangladesh but the entire world.
Yunus, often called the “banker to the poor,” and his Grameen Bank received the 2006 Nobel Peace Prize for lifting millions out of poverty through microloans. Murthy praised Yunus’ influence on traditional and social entrepreneurship globally, noting how his models have been adopted in diverse regions including the Philippines, the United States, Kenya, and India.
Murthy underscored the continued importance of Yunus’ vision in today’s “troubled” world, advocating for widespread support to amplify Yunus’ impact on society, institutions, governments, and academia. This support is especially crucial as leaders of the Students Against Discrimination in Bangladesh recently proposed Yunus as the head of the country’s interim government, following Prime Minister Sheikh Hasina’s resignation and flight from the country.
Yunus, currently abroad, welcomed the regime change, calling it Bangladesh’s “second liberation.” His past conflicts with Hasina’s government include his 2011 removal from Grameen Bank and recent legal troubles, including a prison sentence for labor law violations and embezzlement charges.
Murthy’s call to action highlights the necessity of Yunus’ innovative approaches in addressing global economic challenges, reaffirming his legacy as a transformative figure in microfinance.
