February 18, 2007 11:59 a.m. EST
Siddique Islam - All Headline News South Asia Correspondent
Dhaka, Bangladesh (AHN) - Bangladesh's Nobel laureate Muhammad Yunus on Sunday announced the name of his new political party -- 'Nagarik Shakti' (Citizens' Power). He said it would contest the country's forthcoming ninth parliamentary election.
"I am now determined with my decision to join politics by floating a new political party, which aims at presenting a fresh democratic culture to the nation," Yunus told reporters at the Zia International Airport in Dhaka after returning here from his three-day visit to Chittagong.
He also said his party is likely to be named Nagorik Shakti or citizens' power, but a formal decision would be made this month.
The winner of the Nobel Peace Prize for his micro-credit innovations indicated that his proposed party might field candidates in all 300 constituencies in the next parliamentary election.
"I have got tremendous support from the people for floating a new political party, and the process to give an organizational shape to it has already begun even at the village level," he said.
Yunus won the Nobel Peace Prize for his work in founding the Grameen Bank to make micro-loans to poor people to enable them to launch businesses. He said he is ready to relinquish his long relation with the Bank in the greater interest of launching a trend of new politics in the country.