2. Introduction of Muhammad Yunus
- Muhammad Yunus, born 28 June 1940 is 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
- He passed the matriculation examination from Chittagong Collegiate School
ranking 16th of 39,000 students in East Pakistan. Later while Yunus studied
at Chittagong College and in 1957, he enrolled in the Department of
Economics at Dhaka University and completed his BA in 1960 and MA in
Many people in India lived in poverty for a very long time. Muhammad Yunus used
the concept of microcredit to lend to the poor as many traditional banks do not
want to give them loan for the fear of the poor not being able to repay.
He also bought in cellphone ownership to the poor in many villages.
He eliminated the exploitation of the poor by money lenders,
He opened the bank of Grameen bank and many other equity projects, profit and
non profit ventures all of which is to alleviate poverty.
Create opportunities for self employment for the majority of people in
Stop the cycle of people having low income,savings and investments to the
It influenced other countries to do the same projects of microcredit and help the
poor within their own countries.