MUHAMMAD YUNUS

ABOUT MUHAMMAD YUNUS

• MUHAMMAD YUNUS IS A BANGLADESHI BANKER

• NOBEL PEACE PRIZE (2006) WINNER

• CREDITED WITH DEVELOPING THE CONCEPTS OF MICRO FINANCE AND MICROCREDIT

EARLY LIFE

• BORN ON 28 JUNE 1940 TO A MUSLIM FAMILY IN HATHAZARAI, CHITTAGONG

• COMPLETED BA DEGREE IN ECONOMICS AT DHAKA UNIVERSITY IN 1960, AND HIS MA IN 1961

• HE TAUGHT ECONOMICS AT CHITTAGONG COLLEGE, AND SERVED AS RESEARCH ASSISTANT UNDER NURUL ISLAM

• GAINED A PHD IN ECONOMICS FROM THE VANDERBILT UNIVERSITY

BANKER TO THE POOR

• ON RETURNING TO BANGLADESH BECAME INVOLVED IN RESEARCHING POLICIES TO HELP IN POVERTY REDUCTION

• KNOWLEDGE OF ECONOMIC THEORY SEEMED IRRELEVANT WHEN HE WAS FACED WITH THE REALITY OF STARVING PEOPLE IN THE CAPITAL

MICROFINANCE & MICROCREDIT

• YUNUS DECIDED TO LEND SOME OF HIS OWN MONEY TO 42 WOMEN IN THE VILLAGE

• ONLY A TOTAL OF US$27, BUT HE WAS REPAID WITH A PROFIT OF $0.02 ON EACH LOAN

• CONVINCED HIM MICROLOANS WERE A VIABLE BUSINESS MODEL

• BANGLADESHI GOVERNMENT AGREED TO SUPPORT AN EXPANSION OF THIS SCHEME

• FORMATION OF GRAMEEN BANK TOOK PLACE

• SCHEME WAS SUCCESSFUL

• GRAMEEN STATE THAT 97% OF LOANS ARE REPAID