Nobel Prize-winning economist Muhammad Yunus was officially sworn in as the head of Bangladesh's interim government on Thursday.

The ceremony, held at the President's House, saw President Muhammad Shahabuddin administer the oath to Yunus, who assumes the role of Chief Adviser, a position akin to Prime Minister.

During the event, Yunus pledged to "uphold, support, and protect the Constitution" and to perform his duties with sincerity. His appointment comes amid significant political upheaval, following the resignation of long-time Prime Minister Sheikh Hasina, who fled to India after months of intense protests led by student activists.

The ceremony was attended by foreign diplomats, civil society leaders, business figures, and former opposition members, but notably, no representatives from Sheikh Hasina’s Awami League were present.

Yunus, known globally as the "Banker of the Poor" for his pioneering work in microfinance, expressed his commitment to leading Bangladesh towards stability. He acknowledged the demands of the student protesters and emphasized the importance of free elections for achieving lasting peace.

At 84 years old, Yunus accepted the role with the understanding that while the interim government is a step towards reform, genuine change will require democratic elections. He reiterated his willingness to serve if it meant contributing to his country's progress and addressing the pressing issues facing Bangladesh.

It should be noted that Sheikh Hasina, who had been in power for 15 years, fled to India last week amidst escalating violence in Bangladesh. The unrest, driven by student leaders, resulted in hundreds of casualties.

Following the resignation of Prime Minister Hasina Wajid, Muhammad Yunus was appointed to lead the interim government at the request of the protesting students. The full list of interim government members is expected to be announced soon.

In response to the students' demands, Dr. Muhammad Yunus expressed his readiness to take on the role. In a statement to AFP, he conveyed his honor at being chosen by the protesters and affirmed his commitment to leading the interim government.

Yunus, the 84-year-old Nobel laureate known for pioneering microfinance, emphasized the importance of free elections for achieving lasting peace. He stated, "While I prefer to stay out of politics, I am willing to lead if it means serving my country and its people."

The economist, celebrated as the Banker of the Poor, won the Nobel Prize in 2006 for his groundbreaking work in providing small loans to rural women, helping them invest in farming tools and business equipment to improve their livelihoods.