Professor Muhammad Yunus was conceived on June 28, 1940. He is the originator and overseeing overseer of Grameen Bank, which spearheaded microcredit. This is a technique for banking where little advances are given to poor people, generally to ladies, without insurance, for money creating exercises, to assist them with escaping neediness.
The third of nine kids, Prof Yunus was conceived in the town of Bathua, Chittagong. His dad was Haji Muhammad Dula Mia Shawdagar, a diamond setter, and his mom was Sofia Khatun.
In 1944, his family moved to the city of Chittagong, and he learned at Lamabazar Primary School. Afterward, he breezed through the registration assessment from Chittagong Collegiate School. During his school years, he was a functioning Boy Scout, and went to West Pakistan and India in 1952, to Europe, the USA, and Canada in 1955 and to the Philippines and Japan in 1959, to go to Jamborees. In 1957, he took on the Department of Economics at Dhaka University and finished his BA in 1960 and MA in 1961.
Following his graduation, Prof Yunus joined the Bureau of Economics, Dhaka University. Later he was selected as an instructor in financial matters in Chittagong College in 1961. In 1965, he was offered a Fulbright grant to concentrate in the United States. He got his PhD in financial matters from Vanderbilt University in the US in 1969. From 1969 to 1972, he was an associate teacher of financial matters at Middle Tennessee State University in Murfreesboro, TN.
During the Liberation War of Bangladesh in 1971, Prof Yunus established a Citizen's Committee in Nashville, TN, distributed a pamphlet named Bangladesh Newsletter, and ran the Bangladesh Information Center in Washington DC with different Bangladeshis living in the US, to raise uphold for the freedom of East Pakistan and anteroom at the US Congress to stop military guide to Pakistan.
Enlivened by the introduction of Bangladesh in 1971, Prof Yunus got back to that nation in 1972, and joined the Economics Department of University of Chittagong after a short spell in the Planning Commission. He turned out to be effectively engaged with neediness decrease in the wake of watching the starvation of 1974, and set up the Rural Economics Program as a major aspect of the division's scholastic program. In 1975, he sorted out Nabajug (New Era) Tebhaga Khamar (three offer homestead), which the administration later embraced as the Packaged Input Program. In 1976, during visits to helpless family units in the town of Jobra close to Chittagong University, Prof Yunus found that tiny advances could have a huge effect to a needy individual's life. Jobra ladies who made bamboo furniture needed to take out credits at usurious rates for purchasing bamboo, and needed to surrender their benefits to the moneylenders.
Stunned by this reality, he loaned $27.00 from his own pocket to 42 individuals in the town to assist them with taking care of their credits to the advance sharks and be free. At the point when he moved toward customary banks to loan to poor people, he found that they were not intrigued as the poor were not viewed as financially sound.
Prof Yunus firmly accepted that, given the opportunity, the poor would reimburse the obtained cash, and that it would assist them with working out of destitution. After numerous endeavors, he at long last prevailing with regards to making sure about a credit line from Janata Bank, offering himself as the underwriter, for his venture to loan to the poor in Jobra in December 1976. On October 2, 1983, the undertaking was changed over into a completely fledged bank named Grameen Bank (Village Bank), spend significant time in making little credits to poor people.
As of May 2008, Grameen Bank (GB) has 7.5-million borrowers, 97% of whom are ladies. With 2 515 branches, GB offers types of assistance in 82 072 towns, covering over 97% of the towns in Bangladesh. It has loaned over $7-billion to destitute individuals since its commencement and the reimbursement rate has been close to 100%. All its cash originates from the contributors of the bank.
Prof Yunus has additionally established various organizations in Bangladesh to address differing issues of destitution and improvement. These incorporate Grameen Phone (a cell phone organization), Grameen Shakti (a vitality organization), Grameen Fund (a social investment organization), Grameen Textile, Grameen Knitwear, Grameen Education, Grameen Agriculture, Grameen Fisheries and Livestock, Grameen Business Promotion, Grameen Danone Foods Ltd, and Grameen Healthcare Services.
He is additionally the organizer of Grameen Trust, which expands the Grameen microcredit framework everywhere on over the world. In October 2006, Muhammad Yunus was g
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