No sooner had the news on Dr. Yunus and Grameen Bank being awarded the Nobel Peace Prize broken than the mood in the nation turned festive. In a country that has had few successes worth the attention of the international community the recognition of a Bangladeshi and his organization by the Nobel Committee is indeed a matter of national pride. A survey conducted by The Executive Times in Dhaka metropolitan area finds that while many respondents had not heard of the Nobel Prize, now they understood the significance of it. And proud they were. As Dr. Yunus himself puts it, the Nobel Peace Prize is a testament to the fact that Bangladeshis are able to contribute to the betterment of humanity.

But recent political violence has put a lid on the euphoria. Within two weeks since the Nobel Committee's announcement, as the BNP-led alliance completed its tenure, the streets in Dhaka and other major cities have turned into battle-fields for activists of both the ruling party alliance and the opposition of the recent past. Suddenly peace seemed an odd fit in Bangladesh, the spirit that "we-can-do-it-too" quickly ebbing away.

Peace is harder to achieve, violence much easier. And one does not have to look any further than the political history of Bangladesh. In our 15-year parliamentary democracy, the two major political parties have hardly come to any agreement on national issues and more often than not the opposition have resorted to non-cooperation movements to press their demands. Now the Caretaker Government, led by the President, faces the daunting task of not only finding the modus operandi for holding general election within its 90-day tenure but also creating a general perception that , under its administration, election, if held, will be "free and fair."

Against this gloomy backdrop, such recognition of Dr. Yunus and Grameen Bank is highly significant. That a Bangladeshi and his organization have made it to the list of Nobel Peace Laureates should be a reminder to us all that we can resolve our problems peacefully, political parties notwithstanding.

For Dr. Yunus, the problem was that the poor had little chance of coming out of abject poverty. The challenges he faced were overwhelming. The parameters were set by the existing capitalist environment that regarded the poor as unworthy of credit. But through his micro-credit initiative, he proved the poor can be responsible and have a place in the capitalist system.

Dr. Yunus had to prove more-he had to create a system that can sustain itself. Grameen Bank became the model, which over the years has attained remarkable efficiency, disproving the critics who have questioned how a bank that does so much can remain cost effective.

Today, micro-credit stands out to be an effective weapon in the fight against poverty. It stands out as a powerful tool in achieving societal harmony, reducing the tension between "haves" and "have-nots." And Dr. Yunus achieved that in peace with capitalism. All he needed was passion, diligence and perseverance, and he had them all.