Muhammad Yunus
Muhammad Yunus
Muhammad Yunusis a Bangladeshi social entrepreneur, banker, economist, and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. In 2006, Yunus and the Grameen Bank were jointly awarded the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below". The Norwegian Nobel Committee said that "lasting...
ProfessionEntrepreneur
Date of Birth28 June 1940
CityChittagong, Bangladesh
affordable built current developing health incubator major poor requiring scientific seen
Health care can be made more affordable for the poor without requiring major new scientific developments, just the smart application of current technologies. We have seen a $25 incubator and diagnostic instruments that are built tough, cheap, and reusable for the developing world.
bank borrower emerge formed given means millions owned poor shadows society women
Grameen Bank was formed as an institution owned by its borrower members, who are poor women. Through its unique decision-making process, Grameen Bank has given millions of women the means to emerge from the shadows in a male-dominated society and to make something of themselves.
build business chance depend economic good people poor private public rich route talents theory
Good economic theory must give the people the chance to use their talents to build their own lives. We must get away from the traditional route where the rich will do the business and the poor will depend on private or public charity.
became began classroom decided discover frustrated lives people poor professor saw taught textbooks theories turn
I began my career as an economics professor but became frustrated because the economic theories I taught in the classroom didn't have any meaning in the lives of poor people I saw all around me. I decided to turn away from the textbooks and discover the real-life economics of a poor person's existence.
creativity experience greatest innovate order people poor remain turn
In my experience, poor people are the world's greatest entrepreneurs. Every day, they must innovate in order to survive. They remain poor because they do not have the opportunities to turn their creativity into sustainable income.
people support poverty
Poverty is not created by poor people. It is produced by our failure to create institutions to support human capabilities.
rights people trying
We have a list of human rights - right to food, right to shelter, right to health, right to education, many such items which are considered and accepted as bill of rights. These are to be insured to people. So all nations, all societies try to do that.
fighting sharks people
We developed microfinance to fight loan sharks - I was telling people don't go to loan sharks - not trying to take advantage and make money for myself. I would be a junior loan shark if I did... It is not a panacea.
strong tiny poverty
... When tiny, tiny things start happening a million times, it becomes a large thing. It lays down the foundation of a strong economic base. With women participating in building this economic base, it becomes the foundation for better social and economic future ...
tiny poverty loan
I founded Grameen Bank to provide loans to those considered traditionally unbankable. Grameen Bank works with the poorest and often illiterate, providing uncollateralized micro-loans for tiny business enterprises by which they can lift themselves and their families out of poverty.
government hands giving
Policies are also to blame: the only thing that the governments and people can come up with to give to the poor people is charity. Poor people get hand outs from the state. But this is not a solution to poverty.
allow care created denied people society themselves
But we have created a society that does not allow opportunities for those people to take care of themselves because we have denied them those opportunities.
across almost entirely expand fully hope medical prove sufficient system
The Grameen clinics prove that a medical system 'for the poor' can be almost entirely self-supporting, and we hope we can make it fully self sufficient so we can expand it across Bangladesh.
bank change ideals legal objectives ordinance structure
The Grameen Bank Ordinance with amendments up to 2008 is a beautiful legal structure for the fulfillment of the ideals and objectives of the bank. Any change in this structure will be devastating for the bank.