When was muhammad yunus born

The bank has elevated many people out of poverty and has maintained a repayment rate consistently above 98 percent. As a result of his efforts, Yunus has been awarded numerous honors, including the Nobel Peace Prize, the U. Presidential Medal of Freedom and the U. Congressional Gold Medal. Yunus speaks at Global Social Business Summit. Through the last quarter of a century, the bank has stood as the flagship of a country network of similar institutions, enabling millions to escape poverty through individual economic empowerment.

Professor Yunus is a member of the board of the United Nations Foundation and has received numerous international awards for his humanitarian endeavors. Subscribe to Youth for Human Rights News and get our latest news and updates in your inbox. Thank you for subscribing. What Are Human Rights? Voices for Human Rights. Human Rights Organizations. Popular Courses. Economy Economics. Who Is Muhammad Yunus? Key Takeaways Muhammad Yunus is an economist, microfinancing pioneer, and founder of the grassroots Grameen Bank, known for loaning billions to impoverished people all over the world.

While teaching economics in his native Bangladesh, Yunus became aware of the extreme poverty in the country and the refusal of banks to offer credit to poor people.

He responded by lending them the money himself, confident that the very poorest could raise their own small business activity and their station with very small loans. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.

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This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Related Terms Microfinance Definition Microfinance is a banking service that is provided to unemployed and low-income individuals who have no other means of gaining financial services. Microcredit Microcredit is an extremely small loan given to impoverished people to help them become self employed. What Is a Microenterprise?

A microenterprise is a small-scale business that employs a small number of employees—if any at all. Who Is A. Michael Spence? Michael Spence is an American economist who won the Nobel Prize for his theory of market signaling. Partner Links. Related Articles. Fiscal Policy The 5 Poorest U. Investopedia is part of the Dotdash publishing family.