Muhammad Yunus, GHF Board Member

Muhammad Yunus
Nobel Peace Laureate (2006); Founder and
Managing Director, Grameen Bank

Muhammad Yunus is the founder of Grameen Bank. Mr Yunus was co-recipient with the Grameen Bank of the 2006 Nobel Peace Prize "for efforts to create economic and social development from below". He pioneered the concept of microcredit – the extension of small loans to entrepreneurs who may otherwise be too poor to qualify for traditional bank loans.

The Grameen Bank perceives credit to be a cost effective weapon to fight extreme poverty and stimulate socio-economic development. As it has grown, the Grameen Bank has also developed other systems of alternate credit that serve the poor. For example, in addition to microcredit, it offers education loans and housing loans, financing for fisheries and irrigation projects, and other banking services, such as savings accounts.

Mr. Yunus holds degrees in economics from Dhaka University, Bangladesh, was offered a Fulbright scholarship for study in the United States, and holds a PhD from Vanderbilt University, Nashville, Tennessee, USA.(P.Ress)


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