2. Dr Muhammad Yunus
● He established The Grameen Bank in 1976, which is basically a bank which
provides services to the rural poor
● This bank is founded on the principle that people have great potential, and
unleashing this said potential will free them from the cycle of poverty
● Grameen offers credit to the underprivileged in the society as well as the
shunned such as women, illiterate and unemployed people which could
potentially be their key to a better future.
● HIs other humanitarian works include co-founding the Yunus Social Business,
which empowers social businesses to address global social issues
● He has received many accolades because of his work, examples being the
Nobel Peace Prize and The World Food Prize
- Several allegations have been made against Yunus.
- Questions were brought up in questioning the benefits of microfinance
and its effects on poverty alleviation, particularly in regards to many
microfinance Institutions in India.
- The allegations against Yunus became political when the government of
Bangladesh - led by Sheikh Hasina Wajed turned against him and the
concept of microfinance, accusing it of “sucking blood from the poor”.
- In his personal life, he had to lose his first wife Vera Forostenko, his
University mate. Vera went back to New Jersey claiming that Bangladesh
is not a good place to raise their baby Monica Yunus.
-Rigid class system causes people to be unable
to gain wealth, thus being stuck in a vicious
-Some charities are corrupted and the funds
that are supposed to help the needy ge
● The consequences of poverty are manifold:
● An increased crime rate is one of the main consequences of poverty, as
many less fortunate people are desperate for money for food as well as
other basic necessities.
● Thus usually developing countries have a higher crime rate than
● Another main consequence of poverty is the lack of a highly skilled
workforce as many people from these less fortunate countries do not
have the money to attend school, hence they do not the education
required to participate in jobs requiring scientific advanced knowledge.
● The most obvious and used solution to poverty is education
● Hence, many developing countries are placing an emphasis on education
so as to break this cycle of poverty
● Other solutions include loans to people suffering from poverty which was
the solution seen in the case study studied
● Creation of new jobs as well as cancelling huge debts are also solutions
to the cycle of poverty.
● Being unwanted, uncared, forgoptten by everybody…..(is) a much greater
hunger than the man who has nothing to eat”-Mother Teresa
7. real life application
● The most practical application of these values to our daily lives is
through donations as well as community service projects which can be
both organised by the school as well as ourselves, through these projects
countless people around the world will benefit.
● Donations of money as well as clothes or foodstuffs are one of the many
examples of real life application.
● Many people also engage in missionary projects which is also an
extremely helpful project towards the less fortunate in other countries,
as it provides comfort which money may not be able to provide.
● “Being unwanted, unloved, uncared for, forgotten by everybody, I think
that is a much greater hunger, a much greater poverty than the person
who has nothing to eat.”-Mother Teresa