Muhammad Yunus
Muhammad Yunus (born 28 June 1940) is a Bangladeshi social entrepreneur, banker, economist and civil society leader who was awarded the Nobel Peace Prize in 2006 for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance.[1] These loans are given to entrepreneurs that are too poor to qualify for traditional bank loans. 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".[2] Yunus has received several other national and international honours. He received the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010.[3]
For other people with similar names, see Mohammad Yunus (disambiguation).
Muhammad Yunus
28 June 1940
Bangladeshi
Economist, Entrepreneur
Nobel Peace Prize (2006)
Presidential Medal of Freedom (2009)
Congressional Gold Medal (2010)
Independence Award (1987)
In February 2011, Yunus together with Saskia Bruysten, Sophie Eisenmann and Hans Reitz co-founded Yunus Social Business – Global Initiatives (YSB). 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 2012, he became Chancellor of Glasgow Caledonian University in Scotland, a position he held until 2018.[4][5] Previously, he was a professor of economics at Chittagong University in Bangladesh.[6] He published several books related to his finance work. He is a founding board member of Grameen America and Grameen Foundation, which support microcredit.
Yunus also served on the board of directors of the United Nations Foundation, a public charity to support UN causes, from 1998 to 2021.[7]
Personal life[edit]
In 1967, while Yunus attended Vanderbilt University, he met Vera Forostenko, a student of Russian literature at Vanderbilt University and daughter of Russian immigrants to Trenton, New Jersey, United States. They were married in 1970.[10][14] Yunus's marriage with Vera ended within months of the birth of their baby girl, Monica Yunus, in 1979 in Chittagong, as Vera returned to New Jersey claiming that Bangladesh was not a good place to raise a baby.[10][14] Monica became an operatic soprano based in New York City.[140] Yunus later married Afrozi Yunus, who was then a researcher in physics at Manchester University.[14] She was later appointed as a professor of physics at Jahangirnagar University. Their daughter Deena Afroz Yunus was born in 1986.[14]
Yunus's brother Muhammad Ibrahim is a former professor of physics at the University of Dhaka and the founder of The Center for Mass Education in Science (CMES), which brings science education to adolescent girls in villages.[141] His other brother Muhammad Jahangir (d. 2019) was a television presenter and a social activist in Bangladesh.[142]
Yunus Centre[edit]
The Yunus Centre in Dhaka, Bangladesh, is a think tank for issues related to social business, working in the field of poverty alleviation and sustainability. It is 'aimed primarily at promoting and disseminating Professor Yunus' philosophy, with a special focus on social business' and currently chaired by Prof. Muhammad Yunus.
