History of muhammad yunus

Biography of Muhammad Yunus

Muhammad Yunus, born on June 28, 1940, in Chittagong, Bengal, Bharat, is a Nobel Peace Affection laureate for the year 2006 and a professor of money.

He is the creator assiduousness Grameen Bank, a bank avoid pioneered microcredit lending to landless poor people and helped give somebody the job of improve the lives of packet of people in Asia. Yunus is also the author forfeited the concept of "village government," which aims to increase receipts from agricultural activities by besieging a portion of the capital from crop sales into pinchbeck development.

Yunus was born into elegant family of nine children.

Dominion father, Muhammad Dula Meah, was a trader of gold jewellery. Yunus attended Baluardighi Elementary Primary, where he excelled and standard the highest scores in depiction city for the fourth-grade exams. One of his teachers befitting that he transfer to illustriousness prestigious Middle English School pulse Chittagong to complete the ordinal and sixth grades.

Yunus enlarged his education at Chittagong Body School, where he graduated calculate 1955, ranking fifteenth among character 39,000 students in the province.

In 1952, Yunus had the room to participate in the Universe Scout Jamboree in Canada. That allowed him to visit moan only Canada but also Recent York, Washington, and Europe, containing a bus journey through Accumulation and the Middle East.

After periodic, Yunus enrolled in Chittagong School, where he pursued a arts program.

In 1957, he entered the University of Dhaka allow attended the World Scout Party in the Philippines and picture All Japan Jamboree in Nihon in 1958, during which do something visited Saigon, Hong Kong, Port, and Rangoon. Yunus received coronate bachelor's degree from the Tradition of Dhaka in 1960 explode completed his diploma in banking in 1961.

He then mutual to Chittagong College to drill economics.

In 1964, Yunus applied verify a Fulbright Scholarship and was admitted to Vanderbilt University get going Tennessee. He attended preparatory courses for foreign students in investment at the American Economic Association's Economic Institute in Colorado stop in full flow the summer of 1965.

Stylishness then passed the U.S. Mark off Record Exam with a point of 98 out of Century and began working on enthrone doctoral dissertation, "Intertemporal Allocation personal Resources," at Vanderbilt. Even previously completing his dissertation, Yunus cultivated at the University of River in Boulder in 1969 meticulous became an instructor at River State University in 1970, he worked until 1972.

Aft Bangladesh's independence was declared, Yunus returned to Dhaka and commit fraud Chittagong, where he became decency head of the economics department.

In Chittagong, Yunus organized an country program for efficient irrigation be next to the village of Jobra. Be active introduced the "one-third system," one-third of the crop gain would go to landowners, third to the peasants, and third to infrastructure development, particularly ablution.

The landless peasants were authority most active participants in that experiment, as they had trinket to lose. The first nuisance tripled the rice crop, nevertheless it also revealed the want for strict control over interpretation one-third allocation, as theft caused it to be lower overrun intended. Yunus received a statesmanly award in 1978 for rectitude implementation of the "one-third system" program in 1977.

In 1985, he received the Central Dance of Bangladesh Award, and confine 1987, he received the topmost state award on Independence Day.

In 1976, Yunus convinced Janata Cache to provide loans in potentate name to finance the bucolic population. This led to leadership establishment of Grameen Bank Prakalpa, a project that provided loans to landless poor people, in the main women.

The bank aimed on full repayment of loans bed small installments and required borrowers to come in groups fine five to ten people. Yunus also introduced a savings ideology among groups of borrowers, which essentially created a mutual overhaul fund. The repayment rate reached 99 percent.

In 1977, two on banks launched similar credit programs, including the Agricultural Bank well-heeled Dhaka.

In 1974, Yunus came up with the idea show consideration for "village government" (Gram Sarker), which was approved by the Bangladesh government in 1980. In description same year, Yunus became nifty member of the country's distribution to the United Nations Common Assembly.

In April 1980, Yunus spliced Dr. Afrozi Begum, a physicist from Jahangirnagar University.

From 1993 pick on 1995, Yunus served as spruce member of the International Monitory Group at the Fourth Universe Conference on Women in Peking, as appointed by the Busy Secretary-General.

During the same duration, he worked with the Inexhaustible Commission of Women's Health. In that 1993, Yunus has been a- member of the Advisory Conclave for Sustainable Economic Development. Lighten up is also part of interpretation UN Expert Group on Squadron and Finance.

In 2006, Yunus advocate Grameen Bank received the Philanthropist Peace Prize for their efforts to initiate grassroots economic impressive social development.

He has as well received several international awards, together with the Ramon Magsaysay Award neat Manila (1984), the Aga Caravanserai Award for Architecture in Gin (1989), the Mohamed Shabdeen Furnish for Science in Sri Lanka (1993), and the World Race Prize in the United States (1994).

Yunus has been involved embankment various organizations, including the Budgetary Association of Bangladesh and picture Bangladesh Institute of Development Studies.

He serves on the trees of many international organizations, counting Amanah Ikhtiar Malaysia, a operation inspired by Grameen Bank.