On August 7, 2024, Muhammad Yunus returned to Bangladesh from Paris to take responsibility for leading the government after a month of bloody clashes between police, students, and political parties. When Yunus entered the political scene, the majority of Bangladeshi people believed he would bring significant change in every sector in Bangladesh. However, in reality, he failed spectacularly, much like his claim that the ouster of Sheikh Hasina was a meticulously designed plan, a statement he later denied. Similarly, in several interviews, he claimed he had no connection with the protesters before August 5, but after Sheikh Hasina’s ouster, one main coordinator revealed they had been in touch with Dr. Yunus from early August. This contradictory behavior has confused the Bangladeshi people from the very beginning. As a result, the entire country is now in a state of complete chaos. Even a year after the fall of the Bangladesh Awami League, it seems the country has turned into a failed state by the time being.
A few days ago, I was discussing this with a friend who was a frontline participant in the July 2024 uprising in Bangladesh. After one year, he expressed his frustration, saying that his parents frequently ask him to “bring back Hasina.” He also mentioned that job seekers now want Sheikh Hasina back. When I pressed him to be honest, he confirmed it was true, adding, “When I travel by rickshaw, 90% of rickshaw pullers say they want Sheikh Hasina.” Right after August 5, the Awami League was completely uprooted from Bangladesh, with more than 4,00,000 leaders and activists getting arrested. Despite facing a massive crackdown, the Awami League has done little in the political arena to make a setback. Awami League has become increasingly politically relevant and significant due to Yunus’ administration and other political parties’ failures.
A few days back, BIGD Survey revealed that still 48.5% voters are undecided, whereas nearlyย 14.40% people do not want to reveal whom they will vote for, and 1.7 percent of people said they wonโt cast a vote.ย In response to the question of which party they would vote for in the upcoming national election, 12 percent mentioned the Bangladesh Nationalist Party (BNP), 10.40 percent Jamaat-e-Islami, and 2.80 percent the National Citizen Party (NCP). The Awami League (now banned from political activities) will get 7.3 percent.
According to this data, 64% of peopleโs voting choice is either unknown or undecided. Moreover, the Awami League supporters cannot publicly express their preference due to the massive political crackdown. At present, if anyone is asked about their political support in Bangladesh, no one would openly admit to supporting the Awami League. If we add the 14.4% of people who did not reveal their political choice, the ALBDโs actual support could be closer to 21%, according to the survey.ย
At the grassroots level, BNP, Jamaat, and NCP are currently dominating the scene, with their supporters expressing their views openlyโit is almost impossible for them to hide their electoral choices. The survey also shows that nearly 50% of people remain undecided, which reflects the Yunus administrationโs lack of public trust and support.
Recently, prominent pro-Yunus journalist Farabi Hafiz conducted a poll asking people whom they intend to vote for in the upcoming election. By 15th August, 384,000 people had participated. Surprisingly, the Awami League received 49% of the votes, Jamaat 28%, BNP 11%, and NCP 5%. However, Facebook polls are not a fully credible source, as results can be manipulated using fake accounts and bots.
Despite this, both the poll and previous survey results highlight a significant point: the Awami League remains the most popular political party in Bangladesh, even though it is currently banned from political activities.
This popularity is reflected in the last four internationally credible national elections. In 1991, the party secured 30.08% of the votes, which rose to 37.44% in the June 1996 election, allowing it to form the government. Although it lost power in 2001, its vote share still increased to 40.13%. The upward trend continued in the landmark 2008 election, when the party achieved 48.04%, nearly half of the total votes, marking a decisive electoral victory. This historical electoral support from recent credible elections also supports the validity of the recent survey and polls in favor of the Bangladesh Awami League.
Why is the Awami Leagueโs popularity increasing? The simple answer lies in Yunusโs failures across all sectors, which have caused widespread frustration among the people. Most Bangladeshis are tired of Dr. Yunus, who, despite receiving massive support from the USA, UK, and the European Union, has failed to deliver as expected. Letโs dig deeper into this.
Economic Turmoil Peaks Under Yunus
Muhammad Yunusโs tenure as Bangladeshโs leader has faced severe criticism over his economic mismanagement, with multiple indicators suggesting widespread mismanagement and economic deterioration. Several reports claim that during the first ten months of his administration, approximately $13 billion was siphoned from the country, raising concerns about large-scale corruption, compared to an annual average of $16 billion allegedly siphoned during previous Awami League rule (The Daily Star). The stock market crisis has further exacerbated the situation, with over $10 billion reportedly lost in the last ten months alone; the Dhaka Stock Exchange experienced losses exceeding $9.32 billion due to plummeting share prices (Prothom Alo, Dhaka Tribune).
The garments sector, backbone of the Bangladeshi economy, has suffered extensive closures since Yunus took office: between August and December last year, 140 factories, including 76 garment, 50 knitwear, and 14 textile factories, shut down, resulting in approximately 94,000 job losses, with Beximco Group alone laying off 40,000 workersย (Apparel sources).
Industrial zones such as Gazipur saw over 73,000 workers unemployed following the closure of 106 factories (Prothom Alo), while in Chittagong, 52 subcontract RMG factories shut down by March 2025, leaving over 21,000 workers jobless (Daily Star). Similarly, in Narayanganj and Savar-Asulia, 23 and 18 garments respectively closed, affecting roughly 15,000 workers (Manobzamin).
Labour unrest and declining production have led to collective losses of nearly $400 million, with Bloomberg projecting a potential $2 billion decline in apparel exports in 2025. Foreign direct investment hit a six-year low, plunging from $272 million to $104 million amid political instability (The Daily Star) and economic uncertainty, while GDP growth is forecasted at a mere 3.3% in 2024โ25, the lowest in two decades outside the COVID-19 pandemic (Bddigest, bdnews24.com.).
In the past year, 353 factories have been shut down in Savar, Gazipur, Chattogram, Narayanganj, and Narsingdi. As a result, 119,842 workers have lost their jobs. Many of them, after desperately searching for work, have returned to their villages in despair. Most of the closed factories belong to the ready-made garments, knitwear, and textile industries. (Kaler Kantha).
Business leaders report paying bribes, struggling with rising costs, and fearing punitive actions from the government, with BTMA and BCI officials warning that continued industrial decline could spark public unrest (The Daily Star). Mega-projects remain stalled, bank thefts persist, and inflation has surged due to monetary expansion, with Tk 22,500 crore printed to support weak banks in just five months, raising concerns over currency devaluation and economic stability (Dhaka Tribune), whereas the Awami League, during their 16-year tenure, only printed Tk 60,000 crore.ย Collectively, these developments highlight a dramatic erosion of Bangladeshโs economic foundation under Yunusโs administration.
On May 27, 2025, BTMA President Shawkot Aziz Russell expressed his deep frustration in an interview with Daily Sun, stating: โIn 1971, the killing of intellectuals was a national tragedy. In 2025, not only is the industry being killed, but the entrepreneurs themselves. This feels like a conspiracy.โ He criticized the Yunus governmentโs apathy, likening policymakers to ostriches with their heads in the sand, and warned, โFactories are shutting down one after another. If this continues, people will take to the streets and the situation will worsen.โ Echoing these concerns, BCI President Anwar-ul-Alam Chowdhury Parvez questioned the governmentโs accountability, stating: โIf the government cannot keep its promises, why should entrepreneurs carry the burden? We’re being threatened with jail for failing to pay salaries on time, yet we have no gas, rising bank interest rates, and mounting bills.โ These statements highlight the growing frustration among business leaders over the economic crisis and the perceived inaction of the authorities.
Despite 12 foreign visits within 10 months, Yunus has been criticized for failing to attract investment, with visits perceived as personal tours funded by taxpayers. Policies such as the July Charter have been criticized for rewriting history, ignoring the 1971 independence struggle, Sheikh Mujibur Rahmanโs legacy, and past political regimes. Economic mismanagement has reportedly led to GDP decline and a risk of famine.
From Peopleโs Adviser to Grameen CEO: Conflict of Interest Surrounds Yunus
Another thing is that he made everything free for his Grameen corporations. He exempted Tk 666 crore in tax for his bank, freed himself from all charges, and began opening new ventures for Grameen. On 3 October, right after taking power, Yunus used the High Court to withdraw Grameen Kalyanโs Tk 666 crore tax payment ruling. Moreover, on 12 October, he exempted Grameen Bank from tax for five years through the NBR (Source: Prothom Alo). Several benefits were granted to his ventures, which present a clear conflict of interest. New Age reported that his Grameen entities received official approvals and facilities since he took office as Chief Adviser to the Bangladesh interim government on August 8, 2024, following the ouster of the Awami League regime amid a student-led mass uprising:
- Grameen University approved
- Grameen Employment received a manpower export licence
- Grameen Telecom obtained approval for a digital wallet
- Government stake in Grameen Bank reduced to 10% from 25%
- Grameen Bankโs five-year tax exemption reinstated
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These moves created widespread controversy and raised questions about Yunusโs credibility in both political and apolitical spheres in Bangladesh.
The Feni Flood
After coming to power, Yunus faced his first major challenge: a deadly flood in Feni that affected around two million people. He announced that the government, along with NGOs, would help the affected areas. The flood caused an estimated loss of USD 1.2 billion, but no rapid measures were taken to overcome the crisis.
Despite the passage of one year, little has been done. According to Prothom Alo, during the flood, Yunus called 44 NGOs to his residence and allocated only Tk 1,000 crore for redevelopment.
In the immediate aftermath, the interim government announcedโat least on paperโa BDT 10 billion (1,000 crore) disaster response and recovery fund with the support of international NGOs. Simultaneously, a grassroots fundraising initiative launched from Dhakaโs TSC area collected another BDT 120 million (12 crore) in citizen contributions. In total, around BDT 1,200 crore was reportedly allotted. However, no one knows where the money has gone. Yunusโs repeated claims of handling the crisis with the help of NGOs further enraged ordinary people.
One year later, neither the Yunus government nor his NGOs have helped the inhabitants of Feni recover from this devastating flood. The public is now asking: Where has all the money gone?
Accountability Questions
A Daiy Sun report on the first anniversary of the flood noted that reconstruction efforts had largely stalled. Out of 314 flood-hit government primary schools in six upazilas of Feni, only 30 schools were repaired, costing Tk 31.73 lakh. Meanwhile, Tk 12.99 crore allocated for the project was sent back unspent, leaving 284 schools unrepaired.
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Similarly, a New Asian Age report published on July 15, 2025, echoed the same concerns:
- No transparent audit is available to show how the funds were allocated.
- The names of implementing agencies remain vague.
- The interim government, now gradually exiting its caretaker role, has offered no explanation beyond generic references to โprocedural delaysโ and โcoordinative challenges.โ
- Some foreign NGOs have either gone silent or distanced themselves from the accountability debate, citing a lack of oversight from the host administration.
Corruption Soars Under Yunus Administration
Corruption in the Yunus administration has reportedly reached unprecedented levels. Yunus allegedly exempted his businesses from taxation while senior advisors engaged in extensive bribery, extortion, and tender manipulation.
Student advisor Asif Mahmud faces numerous allegations, including appointing bannedย Hizb ut-Tahrir member as Dhaka North administrator, involvement in extortion and criminal syndicates, and lobbying for contracts using his father. His assistant, Moazzem Hossain, is accused by the Anti-Corruption Commission (ACC) of amassing hundreds of crores of taka through abuse of power. Expatriate journalist Jawad Nirjhar has released a leaked audio in which Mahfuz (APS of Asif) is allegedly negotiating a commission for a government tender with a contractor. In the recording, Mahfuz discusses the percentage of the commission to be taken, raising fresh concerns over corruption within the Yunus administration.
Ex-advisor Nahid Islam, now a leading figure in the NCP, has faced scrutiny over his personal secretary Atik Murshed, who allegedly embezzled Tk150 crore and appointed relatives to key positions. Coordinators linked to Nahid were reportedly caught extorting 50 lakh taka from an ex-ALBD MP.
Tuhin Farabi, personal officer to Health Adviser Nurjahan Begum, a former colleague of Yunus, has been relieved of duties following serious corruption allegations. Both Farabi and Nurjahan Begum face accusations of laundering billions of taka and multiple charges of financial misconduct, highlighting ongoing concerns over corruption within the Yunus administration.
Tanvir, joint secretary of the NCP, has been suspended following allegations of commission-based corruption linked to the National Curriculum and Textbook Board (NCTB). He is accused of unlawfully interfering in District Commissioner appointments and taking commissions on textbook printing paper procurement. These irregularities reportedly delayed textbook distribution until the end of April, disrupting studentsโ academic schedules and causing widespread criticism.
Struggle of Job Seekers: One Year After the July Uprising
The July uprising of 2024 was largely fuelled by jobseekers protesting against the quota system in government employment and education. Yet, a year later, little has changed: the systemic issues remain, and the new government has not addressed the fundamental grievances of the protesters.
Ironically, the Yunus administration has introduced a new quota system under the guise of honoring the July movement. On 2 March 2025, the government approved a school admission quota for family members of July uprising victims (source: TBS). However, this move faced significant criticism, and the government later abolished the quota, replacing it with a policy reserving one additional seat per class for family members of those injured or killed in the uprising (TBS). Critics argue this is a symbolic gesture rather than a meaningful reform addressing job seekersโ demands.
The broader employment situation has also deteriorated due to political instability and poor administration. The unemployment rate has reached a historic high of 4.63%, with 27.4 lakh (2.74 million) people now jobless (TBS). The shrinking workforce is only one part of a wider crisis.
Fahim Mashroor, CEO of bdjobs, the countryโs largest online job portal, noted that job postings dropped by 10% in the first 11 months of FY25 compared to the same period the previous year. He warned: โWe are ending the fiscal year with 5% less revenue. But the scarier part is the halt in recruitment across industries.โ (source: TBS).
The situation underscores that, despite the sacrifice and protests of July 2024, structural unemployment remains unaddressed, and the promises made to job seekers and victimsโ families have largely remained symbolic. Without meaningful reforms, the youth and job seekers continue to bear the brunt of political instability and ineffective governance.
Redowan Ibne Saiful: Writer, activist
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