Exclusive: Ex-NSI officer proves how Yunus hijacked microcredit idea

-Ex-NSI Officer Reveals How Yunus Tricked to Capture Grameen Bank Project

-“He Stole Grameen Bank in the 1970s—Now He’s Looting Bangladesh Again” 

–While His Empire Gets Billions in Tax Breaks and Licenses Under an Illegal Regime

From intellectual thief to state plunderer: former National Security Intelligence (NSI) officer Aminul Hoque Polash, now in exile in Europe, has dropped explosive 1976–1983 documents that completely demolish Muhammad Yunus’s lifelong claim that he single-handedly invented microcredit and founded Grameen Bank.

In a social media post, the whistleblower declared: “Yunus stole an entire university research project in the 1970s, rebranded it as his own, and won a Nobel Prize with it, and now—as illegal Chief Adviser—he is openly using state power to make his Grameen empire richer than ever while the country burns.”

– May 15, 1979 Project Proposal (Phase Two) of Rural Economics Programme (REP), Chittagong University—personally signed by Muhammad Yunus as Head of Economics Department—openly admits:

– The Jobra micro-lending experiment was an official university action-research project funded by a $100,000 Ford Foundation grant (1976–1978).

– The actual microcredit and banking-for-landless research was designed and executed by junior researchers Swapan Adnan, Nasiruddin, and H.I. Latifee.

– Yunus only managed the deep tubewell cooperative side.

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– By 1978, Bangladesh Bank had already adopted the university model, allocated Tk 100 crore, and started nationwide rollout through Krishi Bank and Sonali Bank—before Yunus was even formally involved.

– June 6, 1983, Ford Foundation letter to Vice-Chancellor Prof. Abdul Aziz Khan confirms the money was given to the university, not to Yunus.

Polash said: “He never wrote the proposal, never negotiated the grant, never ran the microcredit trials. He just waited, pushed the real researchers aside, and hijacked the entire project.”

From Thief to Billionaire Ruler

In just 15 months of his unconstitutional regime, Yunus has turned state machinery into a personal ATM for the Grameen empire:

– October 3, 2024: High Court mysteriously cancels its own ruling—Grameen Kalyan is forgiven Tk666 crore ($54.8 million) in back taxes.

– October 10, 2024: NBR grants Grameen Bank full tax exemption for 5 years (until 2029) on all income, including property rentals and interest.

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Draft ordinance ready to slash the government stake in Grameen Bank from 25% to just 5% and reduce government directors from 3 to 1—handing total control to Yunus loyalists.

All court cases that were filed against Yunus have suddenly been dismissed:

– August 7, 2024 (one day before swearing-in): The Labour Tribunal overturns his 6-month jail sentence for labour law violations.

– August 11, 2024: ACC withdraws corruption case on misusing workers’ funds.

– October 24, 2024: Five more labour cases quashed.

– March 17, 2025: Yoghurt adulteration case against Grameen Shakti was dismissed.

Lucrative new licenses handed only to Grameen companies:

– January 28, 2025: Grameen Telecom’s Samadhan Services gets the only digital wallet license issued since the coup.

– March 20, 2025: Grameen Employment Services (Yunus Center) gets the only overseas manpower export license issued under the regime.

Pure nepotism: Yunus’ own nephew Apurba Jahangir was appointed Deputy Press Secretary despite zero media experience, and long-time aide Lamiya Morshed became SDG-related high representative.

The Final Insult

While factories close, inflation hits 15%, and minorities flee Islamist violence, the Grameen brand has never been richer—all because the man who stole the original idea in 1976 now controls the entire state.

Polash said: “He robbed three young researchers of their life’s work fifty years ago. Today, he is robbing an entire nation. History has come full circle—and Bangladesh is paying the price for believing a conman who fooled the world with someone else’s idea.” 

The original documents are now going viral across Bangladesh, with one slogan trending nationwide: “First he stole Grameen Bank. Now he has stolen the country.”