Muhammad Yunus

Professor Dr. Muhammad Yunus Muhammad Yunus is a banker to the poor and economist who was born on 28 June 1940 in Bangladesh. He was a professor of sparings and is noted for his work in microcredit. Professor Muhammad Yunus established the Grameen posit in Bangladesh in 1983 to help the poor by giving out bitty loans. He turned the idea intoGrameen blaspheme, which has do small loans to more than 7. 5 trillion people now. His first loan was $27 given from his own pocket. This $27 was loaned to 42 women in the village, who made a profit of $0. 2 apiece from the loan. The activity of the Grameen Bank is known around the populace. Its ideas ingest been used end-to-end the world including USA, China, Malaysia, India etc. More than 94% of these loans provoke been given to women to change their lives and escape poverty. The Norwegian Nobel Committee decided to award the Nobel stay apprize in 2006, divided into two equal parts, toMuhammad YunusandGrameen Bankfor their efforts to create economic and social development from below.Muhammad Yunus has received several other awards. Microcredit meaning giving small loans. These loans are given to poor people. To qualify for a loan, the villager must demonstrate that their family owns less than one half acre of land. The activity of Grameen Bank has not been limited to just Bangladesh but also around the world. Grameen helps the worlds poorest, especially women, improve their lives and escape poverty. More than 94% of Grameen loans have been given to women, who have less money and give more to their families.Grameen Bank was the first lender to hand out microcredit, giving very small loans to poor Bangladeshis who did not qualify for loans from normal banks. The bank has provided $5. 72 one thousand million dollars to over 6 million families in Bangladesh. These loans average $200. With 1,417 branches, Grameen provides services in 51,000 villages, covering three quarters of all the villages in Bangladesh. Th is system was so successful that even beggars had been able to borrow money.The people who have enough money has many banks to support them, but those who dont have anything, traditional banking system, thats why Muhammad Yunus created the Grameen Bank and thus winning the Nobel clams for Peace. The main aim of the traditional bank is to provide loan in exchange of depositing the property or other assets with interest. There is no reaching/eligibility for the poor to do anything without any investment, but in the concept of Grameen Bank, Dr. Yunus has made his microcredit policy to provide banking service without any deposition.Muhammad Yunus is the recipient of numerous planetary awards for his ideas and endeavors, including the Mohamed Shabdeen mete out for Science (1993), Sri Lanka Humanitarian Award (1993), CARE, USA World viands swag (1994), World Food Prize Foundation, USA Independence twenty-four hours Award (1987), Bangladeshs highest award King Hussein Humanitarian Leadership Award (2000), King Hussein Foundation, Jordan Volvo Environment Prize (2003), Volvo Environment Prize Foundation, Sweden Nikkei Asia Prize for Regional Growth (2004), Nihon Keizai Shimbun, Japan Franklin D.Roosevelt Freedom Award (2006), Roosevelt Institute of The Netherlands and the capital of South Korea Peace Prize (2006), Seoul Peace Prize Cultural Foundation, Seoul, Korea. He also is a member of the board of the United Nations Foundation. Yunus received the U. S. presidential Medal of Freedom in 2009 and the U. S. Congressional Gold Medal in 2012. If banks made large loans, he made small loans. If banks required paperwork, his loans were for the illiterate. whatsoever banks did, he did the opposite, marvels Sam Daley-Harris, director of the Microcredit Summit Campaign. Hes a genius. Microcredit is something which is not deprivation to disappear because this is a need of the people, Mr. Yunus told the BBC in 2002. Bibliography Press Release Nobel Peace Prize 2006. Nobelprize. org. 17 Apr 2013 http//www. nobelprize. org/nobel_prizes/peace/laureates/2006/press. html Muhammad Yunus Nobel Peace Prize Winner. Grameen-info. org. 17 Apr 2013. http//www. grameeninfo. org/index. php? option=com_content&task=view&id=404&Itemid=199 Yunus Wins Nobel Prize. 006. Nbcnews. com. 17 Apr 2013. http//www. nbcnews. com/id/15246216/ns/business-world_business/t/yunus-wins-peace-nobel-anti-poverty-efforts/ The New Heroes Muhammad Yunus. Pbs. org. 17 Apr 2013 http//www. pbs. org/opb/thenewheroes/meet/yunus. html Muhammad Yunus Worlds Banker to the Poor. 2 debase 20011. Bbbc. co. uk. 17 Apr 2013 http//www. bbc. co. uk/news/world-south-asia-11901625. Nobel Prize Winner Muhammad Yunus Visits Quinnipiac. Qunnipiac. edu. 17 Apr 2013.