[بهجة الزمان]

Biography of Muhammad Yunus

Born in Bangladesh on June 18, 1940, Muhammad Yunus was teaching economics at Chittagong University when he developed the idea of "micro" loans, a credit system that enabled poor Bangladeshis to borrow small amounts as part of a peer group, ensuring that they would repay. His Grameen Bank established a microfinance model followed all over the world. Yunus won the Nobel Prize for Peace in 2006.

Achievements of Muhammad Yunus

Muhammad Yunus is a Bangladeshi economist and founder of the Grameen Bank, an institution that provides microcredit to help its clients establish creditworthiness and financial self-sufficiency. In 2006 Yunus and Grameen received the Nobel Peace Prize. Yunus himself has received several other national and international honors. He is a member of advisory board at Shahjalal University of Science and Technology. Previously, he was a professor of economics at Chittagong University where he developed the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor...