MUHAMMAD YUNUS
MUHAMMAD YUNUS (b. 1940) Economist and Nobel Peace Laureate Muhammad Yunus has become internationally renowned for his revolutionary system of micro-credit (small loans to entrepreneurs too poor to qualify for traditional bank loans) that has helped millions to escape poverty. Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983, fueled by the belief that credit is a fundamental human right. His objective was to help poor people escape from poverty by providing loans on terms suitable to them and by teaching them a few sound financial principles so they could help themselves. Born in the seaport city of Chittagong, Bangladesh, Yunus’ life is motivated by his vision of a world without poverty. Professor Yunus studied at Dhaka University in Bangladesh, then received a Fulbright scholarship to study economics at Vanderbilt University. He received his Ph.D. in economics from Vanderbilt in 1969 and the following year became an assistant professor of econ...