eval is used for this, but if you do it naively, there are going to be nasty escaping issues. This sort of thing is generally safe:
name_of_variable=abc
eval $name_of_variable="simpleword" # abc set to simpleword
This breaks:
eval $name_of_variable="word splitting occurs"
The fix:
eval $name_of_variable="\"word splitting occurs\"" # not anymore
The ultimate fix: put the text you want to assign into a variable. Let's call it safevariable. Then you can do this:
eval $name_of_variable=\$safevariable # note escaped dollar sign
Escaping the dollar sign solves all escape issues. The dollar sign survives verbatim into the eval function, which will effectively perform this:
eval 'abc=$safevariable' # dollar sign now comes to life inside eval!
And of course this assignment is immune to everything. safevariable can contain *, spaces, $, etc. (The caveat being that we're assuming name_of_variable contains nothing but a valid variable name, and one we are free to use: not something special.)