Banker To The Poor by Muhammad Yunus | PublicAffairsMost notably, Yunus founded the Grameen Bank , which is known for loaning billions of dollars to impoverished people all over the world. Yunus, who has since gone on to win numerous prestigious awards and accolades for his work, believes that credit is a basic human right. After years of studying and teaching economics academically, he took an active interest in poverty. His goal was to help people escape economic hardship by supplying them with affordable loans and a simple guide to managing their finances. After graduating, he taught economics at Chittagong University, before receiving a Fulbright scholarship to study in the United States. Following his studies, Yunus returned to Bangladesh to become the head of Chittagong University's economics department. Around the time of Yunus' return to Bangladesh, a famine had swept through the country.
Yunus, Muhammad 1940-
Muhammad Yunus and I are best friends. However, Nagorik Shakti . Grameen Bank Microcredit Social business. Benjamin Abadiano.It has also pulled millions of people out of abject poverty by giving them the means bnk be self-employed. In her statement she praised,"the outstanding work done by Professor Yunus and the Grameen Bank he founded. Archived from the original asp on 27 January InYunus formally opened the Grameen Village bank.
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The importance of open access to resources is indispensable. Fusaye Ichikawa. Archived from the original on 13 February The prime minister also alleged that Yunus had received his earnings without the necessary permission from the government, including his Nobel Peace Prize earnings and the royalties from his books.
He was responding to a question on whether there is any plan by his Grameen Bank to set up and expand its presence in India! Yunus Centre. Entrepreneurs Top 10 Indian Entrepreneurs. Main article: Grameen Bank.
Then, Azwa Ahmad rated it it was ok, and he was one of the honored people of the Freedom Festival and got an award on stage in front of millions or thousands of peop. May 23. Wannakuwatta Amaradeva Tarzie Vittachi. Gramern Viphakone.
If mciro-lending is yuns means to end poverty, why does Bangladesh remain one of the poorest countries in the world. Retrieved 18 August Prospect Magazine. Retrieved 19 August .
He wants not only to end global poverty and related problems such as gender discrimination, social exclusion, and lack of access to health care and education, but also to eliminate environmental degradation and extreme inequality. In short, Yunus wants to create a more just society for all. These enterprises are controlled by shareholders either donors or the poor , and donors get their initial investment back, though any additional profits created by the enterprise are plowed back into the work. To illustrate his idea of a social business, Yunus weaves through the book the fascinating case study of Grameen Danone, a joint venture between Grameen and the French multinational food product company Danone. Yunus sees many sources from which these new social businesses can originate: existing companies, foundations, the World Bank and other agencies, government development funds, successful entrepreneurs looking for a next activity, wealthy retirees, and recent college graduates. Indeed, all of these sources hold promise. He also believes that social businesses would encourage more people to give back: Many would find establishing and working in a social business more attractive than working for a charity, given the prestige society accords business entrepreneurs above and beyond their financial success.
His dream is the total eradication of poverty from the world. View 2 comments. Will be reading more on the subject by Jeffrey Sach and others. Yuan Longping. Since then, the government has started an investigation into the bank and is now planning to take over Grameen - a majority of whose shares are owned by its borrowers - and break it up into 19 regional lenders.
These loans are given to entrepreneurs too poor to qualify for traditional bank loans. In , Yunus and the Grameen Bank were jointly awarded the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below". The Norwegian Nobel Committee said that "lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty" and that "across cultures and civilizations, Yunus and Grameen Bank have shown that even the poorest of the poor can work to bring about their own development". YSB creates and empowers social businesses to address and solve social problems around the world. As the international implementation arm for Yunus' vision of a new, humane capitalism, YSB manages incubator funds for social businesses in developing countries and provides advisory services to companies, governments, foundations and NGOs. In , he became Chancellor of Glasgow Caledonian University in Scotland, a position he held until He published several books related to his finance work.
Inhe was listed as the second most important global thinker in Foreign Policy magazine. Akhtar Hameed Khan? Bloomberg BusinessWeek. The Grameen boo provides collateral-free loans to those who 3.
Who Is Muhammad Yunus. The success of the Grameen Bank has created optimism about yuunus viability of banks engaged in extending micro-credit to the poor? Fakhruddin took office on 11 January and made it clear on his very first day that he intended not only to arrange a free and fair election but also to clean up corruption. The book is muhammar to highlighting the impending danger of exponential rise of wealth concentration globally and nationally, it can explode politically and socially any ti.