Muhammad yunus date of birth
Muhammad yunus biography wikipedia english
But as the Grameen Bank's membership rolls grew, Yunus was surprised to see that "the small amounts of money going through the women brought so much more benefit to the family. The reason why, especially in poor families, is that the woman has trained herself, without realising it, to manage scarce resources," he explained to Carlin in the Observer article.
With these results in hand, Yunus decided to increase his bank's efforts toward women, with the result that by , 94 percent of its two million borrowers were female. The default rate was impressive, just 1. Watching his microcredit program closely over the years, Yunus estimated that it took a borrower an average of ten loan cycles to rise out of poverty, and a third of his applicants had done so during the bank's first decade in operation.
Muhammad yunus biography wikipedia english language
Grameen Bank soon grew into several other successful ventures that also benefited the poorest rural citizens in Bangladesh. There was Grameen Telecom, which brought mobile-phone technology to rural villages and became one of the leading mobile-phone networks in South Asia. An offshoot, the Village Phone Project, offered a loan to those who wanted to purchase a mobile phone and set up a business as the village pay phone; many villages had never had any type of phone service at all, and the idea was immensely successful.
He later began planning to set up village kiosks with low-cost Internet access. Yunus also launched Grameen Shakti "Energy" , which sells solar panels and other sources of renewable energy, and lured French foods giant Danone to set up a joint project that included a large food processing plant in Bangladesh that would sell much-needed infant formula at an affordable price.
To help those on the very lowest rungs of the economic ladder, he created what are known as the "Struggling Members" loans. These are given out to beggars to help them buy a product, like a hen whose eggs they might sell door to door instead of begging; this has also emerged as a radical but successful concept that has aided some 80, destitute.
That is an animal activity. So what you learn when you deal with the poor is how unkind society has been with the poor people, how parochial and self-centered.
Muhammad yunus biography bangladesh: Muhammad Yunus [a] (born 28 June ) is a Bangladeshi economist, entrepreneur, politician, and civil society leader, who has been serving as Chief Adviser of the Interim Government of Bangladesh since 8 August [1].
Yunus' microfinancing strategies have been copied by those who once dismissed his ideas as folly. Citibank, ABN Amro, and Deutsche Bank have launched divisions to enter the microloan market, often via partnerships with local financial institutions. His pioneering vision made him the recipient of what is one of the world's most prestigious honors, the Nobel Peace Prize, awarded to both him and the Grameen Bank.
The Nobel committee bestowed it because "Yunus' long-term vision is to eliminate poverty in the world," its award announcement read, according to the New York Times. But Muhammad Yunus and Grameen Bank have shown that, in the continuing effort to achieve it, microcredit must play a major part. It operates in 70, villages, and 97 percent of its 6.
It employs 20,, including one of Yunus' students from that original field trip, Nurjahan Begum, who serves as a managing director at Grameen's Dhaka headquarters.
Muhammad yunus biography wikipedia english version
Yunus is married to a professor of physics, and his American-born daughter, Monica Yunus, grew up to become a soprano who has performed with the Metropolitan Opera of New York. He was happy to receive the Nobel Peace Prize, but even more pleased that the Grameen Bank had helped so many. In Bangladesh, where nothing works and there's no electricity, microcredit works like clockwork.
It's fantastic. Christian Science Monitor , October 16, , p. Yunus, Muhammad gale. Learn more about citation styles Citation styles Encyclopedia. Career Research assistant for West Pakistan Bureau of Economics, early s; lecturer in economics, Chittagong College; assistant professor of economics, Middle Tennessee State University, —72; Chittagong University, professor of economics after ; founder and managing director, Grameen Bank, —.
Sidelights Muhammad Yunus , an economist from one of the world's poorest nations, won the Nobel Peace Prize in October of along with the institution he founded, Grameen Bank. New York Times , October 14, Observer London, England , November 5, More From encyclopedia. About this article Muhammad Yunus All Sources -.
Updated Aug 18 About encyclopedia. Muhammad VI —. Muhammad Reza Shah Pahlevi — Muhammad of Ghor. Muhammad IV Ottoman sultan. Muhammad III Ottoman sultan. During the same period, he worked with the Global Commission of Women's Health. In , Yunus and Grameen Bank received the Nobel Peace Prize for their efforts to initiate grassroots economic and social development.
Yunus has been involved in various organizations, including the Economic Association of Bangladesh and the Bangladesh Institute of Development Studies. He serves on the boards of many international organizations, including Amanah Ikhtiar Malaysia, a project inspired by Grameen Bank. Date of Birth: Wolff Thomas Sowell.
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Muhammad yunus
Archived from the original on 18 June Retrieved 7 September Archived from the original on 12 October Retrieved 8 April Grameenphone is now the leading telecommunications service provider in the country with more than 10 million subscribers as of November Muhammad Yunus" Transcript of broadcast interview. Interviewed by Negus, George.
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Al Jazeera. Retrieved 24 August Washington Post. Archived from the original asp on 27 January Retrieved 2 September Other websites [ change change source ]. Wikiquote has a collection of quotations related to: Muhammad Yunus. Wikimedia Commons has media related to Muhammad Yunus. Videos [ change change source ]. Winners of the Nobel Peace Prize.