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
Poverty is not created by poor people. It is produced by our failure to create institutions to support human capabilities.
... 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 ...
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.
The new millennium began with a great global dream. World leaders gathered at the United Nations in 2000 and adopted, among others, a historic goal to reduce poverty by half by 2015. Never in human history had such a bold goal been adopted by the entire world in one voice, one that specified time and size.
If you think creating a world without any poverty is impossible, let's do it. Because it is the right thing to do.
Poverty is unnecessary.
Charity only perpetuates poverty by taking the initiative away from the poor.
I think, social business is the most logical thing to do. If we had done that, we could reduce all the problems we have.
In the future the question will not be, "Are people credit-worthy", but rather, "Are banks people-worthy?"
Poverty is the absence of all human rights. The frustrations, hostility and anger generated by abject poverty cannot sustain peace in any society.
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.
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.
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.
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.