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Professor Yunus has successfully melded capitalism with social responsibility to create the Grameen Bank, a microcredit institution committed to providing small amounts of working capital to the poor for self-employment.
Muhammad Yunus (born 28 June 1940) is a Bangladeshi social entrepreneur, banker, economist and civil society leader who was awarded the Nobel Peace Prize in 2006 for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance.
Jun 25, 2024 · Muhammad Yunus (born June 28, 1940, Chittagong, East Bengal [now Bangladesh]) is a Bangladeshi economist and founder of the Grameen Bank, an institution that provides microcredit (small loans to poor people possessing no collateral) to help its clients establish creditworthiness and financial self-sufficiency.
Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983, fueled by the belief that credit is a fundamental human right. His objective was to help poor people escape from poverty by providing loans on terms suitable to them and by teaching them a few sound financial principles so they could help themselves.
Since October 2006, when Professor Muhammad Yunus and Grameen Bank jointly received the Nobel Peace Prize, local and international interest in Professor Yunus’ work has grown exponentially.
Dec 2, 2010 · In December 2010 the prime minister accused Prof Yunus of treating Grameen Bank as his "personal property" and claimed that it was "sucking blood from the poor".
Apr 5, 2011 · The BBC's Alastair Lawson looks at how Muhammmad Yunus went from being a poster boy for the microcredit industry to being forced out as head of the Grameen Bank he founded.
