What is Muhammad Yunus famous for?

Published by Charlie Davidson on

What is Muhammad Yunus famous for?

1940) Economist and Nobel Peace Laureate Muhammad Yunus has become internationally renowned for his revolutionary system of micro-credit (small loans to entrepreneurs too poor to qualify for traditional bank loans) that has helped millions to escape poverty.

What Muhammad Yunus did?

Muhammad Yunus is a Bangladeshi economist, best known as the founder of the grassroots Grameen Bank, a financial institution (FI) that provides small loans to poor people without any collateral.

Who is the first Nobel Prize winner in Bangladesh?

Yunus was the first Bangladeshi to ever get a Nobel Prize.

Who was Muhammad Yunus and what did he do?

Written By: Muhammad Yunus, (born June 28, 1940, Chittagong, East Bengal [now Bangladesh]), 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.

When did Muhammad Yunus win the Nobel Peace Prize?

Recipient of the 2006 Nobel Peace Prize, Professor Muhammad Yunus is internationally recognized for his work in poverty alleviation and the empowerment of poor women.

Why did Muhammad Yunus create the Grameen Bank?

…was institutionalized in 1976 by Muhammad Yunus, an American-educated Bangladeshi economist who had observed that a significant percentage of the world’s population has been barred from acquiring the capital necessary to rise out of poverty. Yunus set out to solve this problem through the creation of the Grameen Bank in…

When did Muhammad Yunus start his bank in Jobra?

In December 1976, Yunus finally secured a loan from the government Janata Bank to lend to the poor in Jobra. The institution continued to operate, securing loans from other banks for its projects. By 1982, it had 28,000 members.

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