Like many other concerned citizens of the world, I am stunned by the news that Nobel Laureate Muhammad Yunus has been sacked by the government of Bangladesh, from his position of Managing Director (Head) of Grameen Bank, a community development bank he founded in 1983. The actions seem to be politically motivated, where personal gains out-weighed the potential damage. The rushed process and the general handling of the matter lacked any semblance of logic or reasoning. This incident matters to us and should concern us (even if one is half way around the world from Bangladesh) — because bad judgments are simply bad, regardless of the “who” or “where” in question.
We need to support ideas rooted in sound principles, and people who represent them; especially now as we witness the inferno in the Middle East. This fiasco with Professor Yunus reminded me of a story of King Solomon (also known as Prophet Sulayman); a fable commonly known as the “Judgment of King Solomon.”
The story goes something like this: Two women came to King Solomon, claiming that they are the rightful mother of an infant son. Both women passionately argue that the other woman is a liar, and that the infant was their own flesh and blood. After some deliberation, Solomon says “Bring me a sword.” He declared that the only fair solution was to split the son in two, each woman would receive half of the son.
Upon hearing this terrible verdict, the boy’s true mother cried out, “Please, my lord, give her the living baby! Don’t kill him!” But the woman who was the liar, in her bitter jealously and rage said, “Neither I nor you shall have him. Cut him in two!”
Solomon instantly gave the baby to the real mother, realizing that the true mother’s instincts were to protect her child, while the liar revealed that she was misguided by jealously and did not truly love the child.
Rushing to cut a baby in half, with no care or concern, even if it is King Solomon’s judgment, would be ridiculous. But, that’s the logic those who ousted Professor Yunus from his position followed. They blindly rushed to action without considering the damage and turmoil it could cause.
The question is very simple; will we support love or jealousy?
Whatever one’s opinion of microfinance loans and Professor Yunus, for the government to hastily remove a Nobel Laureate of Peace, of all things, Bangladesh’s most recognizable ambassador from his position due to “non-compliance” of the retirement policy and other trumped up charges makes a mockery of justice, due process and logic.
Professor Yunus is 70 years old; technically, 10 years over the age limit set for private bank heads in Bangladesh to retire. Sure, there may be legal merit to the argument, but shouldn’t one rise above the technical spattering and make decisions based on sound judgment? Especially when it may harm the very poor the government says they are trying to protect and empower. Did the government even consider the potential disruption to the lives of the nearly 9 million borrowers, mostly poor woman with loans totaling $10 billion?
What disruption you ask, how about a run on the bank? Reputational damage to financial institutions is death. We all know what happened to US banks after the financial crisis. Or, how about the reputation and credibility of Bangladesh, a country that is clamoring for foreign direct investments; will investors line up with bag full of money with this type of turmoil and uncertainty? Well they might, but the cost of capital just went up.
There can be an orderly process instead of forcing someone into a legal roadblock. The Government must have known the negative publicity their actions would generate in the international community, but they acted anyway. Did the government forget Yunus’ friendship with President Clinton and Secretary of State Hillary Clinton, and the damage it can have on bi-lateral relations? President Obama just honored Professor Yunus with the Presidential Medal of Freedom, the highest civilian award in USA.
I would be remiss if I didn’t ask, if 60 is deemed too old to serve as the head of a private bank, shouldn’t one want the same standard for those in Parliament, Cabinet and other key government positions? (I don’t want to debate age limits, but doesn’t competence trump age in the first place? And, if it is a private bank, shouldn’t it be a private decision?)
The timing of this incident is a coincident but also interesting; 40 years ago this month, Bangladesh became an independent, democratic nation (after a brutal war with the undemocratic, and still undemocratic “West” Pakistan). (More on this topic on my next Op-Ed piece.)
What does this signal to the world at large, and most importantly the citizens of Bangladesh, about the state of democracy, when vindictive political reprisal is common? Is this how real democracies behave? The government should not be allowed to flex its muscle at will, with no regard to the consequences of its actions. Let’s not be fooled, democracy is more than elections and voting. This should serve as a cautious warning to those who are in the Middle East strategy team, trying to create functioning democratic nations.
When Professor Yunus received the Nobel Peace Prize in 2006, the world saw a side of Bangladesh it was not accustomed. Professor Yunus shined a bright light that showed the world, ideas rooted in Bangladesh are innovative and cutting edge. In doing so, it became clear that his light was brighter than the usual suspects of Bangladeshi politics; and that was reason enough to take him down so unceremoniously.
Dr. Yunus is Bangladesh’s most bankable, internationally respected superstar; arguably one of the most visionary businessperson in the world. He alone is half of brand Bangladesh. When one knocks him down, Bangladesh goes down too. That’s the message the government just doesn’t want to understand or acknowledge, or maybe they just don’t care. Sounds very much like a jealous complex, doesn’t it?
It is unfortunate, when political bitterness comes in the way of progress, especially economic development. Imagine Bangladesh growing at double digit GDP growth, instead of a paltry mid-single digit, what impact that would have on the lives of the poor, and the contributions Bangladeshi people would make to the world. We all have a stake, and we all benefit when the seventh most populous nation in the world is stable, prosperous and free (which also happens to be the third largest Muslim majority country). What the leadership must understand, and what should not be lost in the jungles of Bangladeshi politics — Bangladesh simply cannot graduate to the next level of economic success without first resolving the petty political squabbling. The leadership of Bangladesh must use clear reason as a guide, and make sound judgments like King Solomon; which means Bangladesh must defeat jealousy with love.
Postscript:
On a personal note, I had the pleasure of meeting Professor Yunus for the first time in the early 1990s (in Ann Arbor, Michigan) when he was primarily known among those in the field of development economics. I can clearly recall how Professor Yunus spoke in a mild manner, but nonetheless was electrifying and engaging. He spoke about microcredit with passion, and challenged the audience to address the issue of global poverty with creativity and compassion. Professor Yunus had an amazing ability to connect with everyone at a deep and personal level; even when he discussed the seriousness of poverty, he was able to make the audience laugh. He changed the way the world looks at the poor, non-credit worthy borrowers, and created an innovative approach to address their needs. Bangladesh and the world will be a better place with more Professor Yunus’ and not when he is cut in half.
Ikhtiar Kazi is an Economist and Capital Markets professional. He returned to Chicago after spending 16 months in Bangladesh. Additional information about the writer can be found on his blog https://strategyandexecution.wordpress.com/
All rights reserved. No part of this publication can be altered, copied, reproduced, stored, or distributed, in any form, without the full written permission of the writer. Copyright © 2011 by Ikhtiar Kazi
This article was published with the following sites:
http://opinion.bdnews24.com/2011/03/17/nobel-laureate-yunus-and-the-judgment-of-king-solomon/
http://www.priyo.com/blog/ikhtiarkazi/2011/03/18/nobel-laureate-yunus-and-judgm-22101.html
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Mehrin said:
I like your analogy of King Solomon. The child at stake is BD reputation. And Hasina and Yunus both seem selfish and ego-centric though. Playing the devils advocate, I ask
[based mostly on http://www.facebook.com/note.php?note_id=10150421825035314 ]:
1. An efficient MD will over time build up his replacement so that he may move to greater things. Holding a top position for decades would mean a stagnant promotion chain. Just how crucial should it be that Yunus remains the MD?
2. On the other hand, should not such an exemplary person follow the rules at least when pointed out?
3. How big of a brand damage this really is? Are the NRBs and social elites clutching at straws? Nobel prize is much revered. But how many such laureates from other countries can most of us name? I certainly dont know Vietnam, Kenya or Finland any better or worse in the last few years!
4. Has Prof Yunus ever used his friendship with President Clinton and Secretary of State Hillary Clinton for helping bi-lateral relations? If not, then the personal relation should not affect the country.
It a sorry state of affairs, as usual 😦
J.S. said:
It’s all about jealousy over love, and that’s why BD is not a wealthy nation!
Ershad Mazumder said:
Thanks a lot dear Kazi shaheb. I do agree with your opinion. The attitude of the government, particularly the prime minister Sheikh Hasina’s personal attitude has stemmed from, as I feel, from anger and jealousy.
If the prime minister had invited Dr. Yunus for a discussion, they could have reached a better solution. Unfortunately, the prime minister opted to use Bangladesh Bank to sack Dr. Yunus despite international concern
Matiur Rahman said:
Interesting piece. None of us should ever forget the folowings: “Truth must come out over time and must prvail.”
” No one can fool all the people all the time.”
” Law of any sovereign land has its long hand and must take its own course”.
” No body is below and above the law”.
“Justice hurried is justice buried, and justice delayed is justice denied”.
We may try to twist or alter the fundamental truths, but nothing works at the very end.Dr. Yunus must get his due respect and share of blames for any wrong actions. Let us wait and see without being influenced unduly by foreign forces.We must not lose faith in our Supreme Court as a sovereign nation.
Saleh-Rahim Ahmed said:
We all understood and/or known the both sides of the coin! Irony is that if you put the case on the scale of judgement, logic and/or emotion can’t simply overweight the rules! Wrong have been made by both the parties involved, nation is the only loser out of it! Nobody gains! Again the same old rule applies ‘a long dispute means both parties are wrong’!
Saif Shahid said:
What a wonderful refreshing writing on the opinion page of bdnews24.com. Congratulations on a very precise and brief description of the situation. I hope more such opinion pieces and analysis will appear in this online newspaper.
However, I have doubts that people who should read it, will ever have the time to read these to-the-point reasoning and logic.
I had better expectations from our finance minister Muhith.
Saleh-Rahim Ahmed said:
We all understood/known the both sides of the coin! Irony is that if you put the case on scale of judgement/logic and/or emotion can’t simply overweight the rules! Wrong has been committed by both the parties involved and it’s the nation that turned out to be the biggest loser at the end. Again the same old rule applies ‘a long dispute means both parties are wrong’!
Set the ‘Rules’ before you start the game! None can change/reset the ‘Rules’ in the MIDDLE of the game or at the END of the game! Then that’s not a game at all!
Yousef said:
Dr. younus is doing business with our poorpeople by lending them money at 30% interest. As a banker(business man) he should be treated like any other business man. He is not Madam Teresa or Nelson Mandela, that he should get any special treatment.
Why US is so eager with a person Younus, do they think about the fate of the poor people?
US always keep in their kitty a Hamid Karzai/nur e maliki to serve their purposes. Dr. Younus/Dr. Kamal are a few of them.
Who is American friend; he doesn’t need any other enemy to destroy him.
By supporting Dr. Younus BNP fall into the trap of AL. Dr. Younus is now automatically branded as BNP person. Other partner of Joth, Jamat is silent on Dr. Younus as he is doing Haram business with Ribah.
Game yet to start, just wait for the end!
Helal Haque said:
Dear Mr. Ikhtiar Kazi,
Your writing is simply wonderful and logical. We are so unfortunate that our political leadership can’t tolerate any one superior to them. They are so jealous that they won’t spare any single opportunity to knock the individual down at any cost. In our 40 years independence, I believe only two persons have made us proud; one is our great leader Bangabandhu Sheikh Mujibur Rahman and the other is Professor Yunus. We lost one and it is unfortunate that the other one is facing kick and slap on his face by the daughter of our same great leader.
Jack said:
How did you feel when the Norwegian TV telecast that documentary that accused Yunus of mishandling aid? What about the reputation of Bangladesh during then? Did it reach sky high? I don’t understand why a section of people worship Yunus like this! He is nothing but a businessman. Are you trying to say that the instalment recovery stories are all hoax? We have a worthless government and a few worthless so-called elite supporters of Yunus.
Sumit said:
Jealousy
Ibn Masud said:
I cannot, despite all your arguments agree on one particular note. How will his removal from office cause disruption in the lives of 10 milllion women? Does this mean that without him, Grameen Bank or any other microcredit bank is meaningless? Are these organisations only defined by the faces of their bosses? And can double digit figures be achieved with only microcredit? Heard about Asian tigers? Keep in mind that, there is rampant corruption in SE Asia. Do they know about microcredit?
P.S.: It seems to me that Dr. Yunus wants to threaten Bangladesh with his foreign contacts. Were they of any use when he formed his own political aspirations, however noble his intentions were?
Dr. Nasrin said:
Mr. Kazi,
I thank you from the core of my heart. Every word of this writing equates to what I actually feel. Prof Yunus is the founder of this specialised bank, Grameen Bank is his brain child. Now, his replacement only can come into effect, someone he things fit. Then he should be made the chairman of this Bank, for which there is no age bar. Who is more capable to be the chairman of Grameen than Professor Yunus?
My last question is, what is the retirement age of our politicians?
Abdur
Dr. Nasrin Rahma said:
Please don’t trouble Professor Yunus. He is the brand of Bangladesh. If his age is not suitable to be the MD of Grameen bank, make him the Chairman.
If a 75-year-old man can be the finance minister, Prof Yunus can be the MD of his bank that he founded.
Dr. Nasrin Rahman, Sydney, Australia
OC said:
I have been living in a Norwegian city, where most Nobel peace prize winners use to visit within few weeks/months after they receive the prize. The city is having the only peace centre of Norway, where they study issues such as peace and conflicts. I am fortunate to see some of the Nobel peace prize laureates including Dr. Yunus. What a moderate but eloquent orator he is! Mr Kazi is right, Dr Yunus’ engaging and connecting speech was something for which I felt proud to be a Bangladeshi on the day of his visit.
I also have happened to watch the documentary on a Norwegian TV channel on Dr. Yunus. I request at least one of our Bangladeshi private TV channels to rebroadcast the documentary in Bangladesh. In my view, the programme was just a below-average presentation of the conditions in Bangladesh in the eye of an outside journalist. Usually, the Western medias try to criticise the many established thoughts and practices, such as religion, nationalism etc. Where some of these documentaries are highly enlightening in questioning the authenticity of the established facts in an intelligent manner, many are simply rubbish. In the West, especially in the Scandinavia, broadcasting both types is accepted. It doesn’t necessarily mean that they believe in what the programmes say, rather they want to hear the other voices of the society, so that people have wider view on a particular issue. Who was not questioned and criticised in the Western media? Jesus? Mohammad?
I can’t imagine a better ambassador for Bangladesh at the moment.
Albelee Haque said:
Very good article. Thank you for sharing…….. even if Dr. Yunus has retired as the head of Grameen Bank reluctantly and peacefully, he is in the heart of millions of people (incl. the ~ 8 million BD village women partners/ stakeholder of Grameen who respect Prof. Yunus so much) across the world for his innocence, integrity and great legendary micro-finance accomplishment that was thought unachievable by other economists.
Wonder if GOB will consider including Yunus Photo and accomplishment as a Bangladesh Nobel Laureate in the Bangladesh History and Philosophy of Social Science text books for High School children to inspire…