Last-minute VVIP status for Prof Yunus raises questions over benefits during tenure

The decision to grant former chief adviser of the interim government Prof Muhammad Yunus Very Very Important Person (VVIP) status for one year, along with several policy decisions taken during his tenure that benefited institutions linked to the Grameen group, has sparked debate among analysts.

A gazette issued on 10 February, two days before the 13th national election, declared Prof Yunus a VVIP for one year from the date he handed over power, entitling him to security protection from the Special Security Force (SSF). However, the gazette was not found on the Bangladesh Government Press website.

Officials said the document had been printed but not uploaded online due to a reservation from the Chief Adviser’s Office.

Several decisions taken during Prof Yunus’ tenure have also drawn scrutiny. In October 2024, the National Board of Revenue granted Grameen Bank tax exemption until 2029, a move officials say gives the bank advantages over other microcredit institutions. The government’s share in Grameen Bank was also reduced from 25% to 10%.

Analysts also raised questions over approvals granted for a new Grameen university, a manpower export licence for Grameen Employment Services Ltd, and a digital payment service licence for a Grameen Telecom affiliate.

Transparency International Bangladesh Executive Director Prof Iftekharuzzaman said such developments reflect weaknesses in managing conflicts of interest and may raise questions about whether proper procedures were followed.

Prof Yunus, 84, who won the Nobel Peace Prize in 2006 with Grameen Bank for pioneering microcredit, headed the interim government after the fall of the Sheikh Hasina administration in August 2024 and stepped down following the national election held on 12 February 2026.