Muhammad Yunus, born on June 28, 1940, in Chittagong, Bangladesh, is a renowned social entrepreneur, banker, economist, and civil society leader.
In 2006, Muhammad Yunus and the Grameen Bank won the Nobel Peace Prize for their new ideas in giving small loans and financial help to poor people.
Apart from the Nobel Prize, Yunus has received numerous prestigious awards, including the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010.
In 2011, Muhammad Yunus co-founded Yunus Social Business – Global Initiatives (YSB), which focuses on promoting social businesses worldwide.
From 2012 to 2018, he served as the Chancellor of Glasgow Caledonian University in Scotland and was formerly a professor of economics at Chittagong University.
Muhammad Yunus has played a significant role in Grameen America and the Grameen Foundation, continuing his efforts in microcredit. He served as a board member of the United Nations Foundation from 1998 to 2021, contributing to various UN initiatives.
In January of this year, Muhammad Yunus was sentenced to six months in jail by a court for violating labor laws but was granted bail in March. He was also jailed in a USD 2.3 million embezzlement case.
Yunus began providing tiny loans (as small as Rs 2000) to women in rural Bangladesh to start small businesses, such as poultry farming, weaving, or selling goods. The loans were offered without collateral, with repayment based on trust and peer pressure. This approach helped millions lift themselves out of poverty, earning Yunus the nickname “Banker to the Poor.
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