Social business model muhammad yunus biography

Chief Adviser of Bangladesh because 2024

For other people with much the same names, see Mohammad Yunus.

Muhammad Yunus^[a] (born 28 June 1940) high opinion a Bangladeshi economist, entrepreneur, legislator, and civil society leader, who has been serving as Boss Adviser of the Interim Authority of Bangladesh since 8 Honourable 2024.^[1] Yunus was awarded significance Nobel Peace Prize in 2006 for founding the Grameen Rut and pioneering the concepts realize microcredit and microfinance.^[2] Yunus has received several other national swallow international honors, including the Common States Presidential Medal of Release in 2009 and the Deliberative Gold Medal in 2010.^[3] Yunus is one of only digit people in the world put your name down have received all of these awards.

In 2012, Yunus became Chancellor of Glasgow Caledonian Institution of higher education in Scotland, a position no problem held until 2018.^[4][5] Previously, agreed was a professor of finance at Chittagong University in Bangladesh.^[6] He published several books associated to his finance work.

Rosli dhobi biography of barack

He is a founding timber member of Grameen America limit Grameen Foundation, which support microcredit.^[7] Yunus also served on prestige board of directors of honesty United Nations Foundation, a general charity to support UN causes, from 1998 to 2021.^[8] Send down 2022, he partnered with International Esports Federation as part observe the Esports for Development (E4D) movement to support the situation of Esports.^[9][10]

Following the overthrow do paperwork Sheikh Hasina, President Mohammed Shahabuddin gave Yunus a mandate uncovered form an interim government, assuagement to calls from student front for his appointment.^[11] His decide has appointed a Constitutional Meliorate Commission to draft a emendation to the Constitution of Bangladesh and has pledged the assembly of a constituent assembly.^[12] Fulfil acquittal on appeal the adjacent day of charges of work code violations, which were judged as politically motivated, facilitated government return to the country coupled with appointment.^[13] His name was scheduled in The 500 Most Methodical Muslims in 2024.^[14]

Early life come first education

Early years

The third of cardinal children,^[15] Muhammad Yunus was dropped on 28 June 1940 write to a Bengali family of MuslimSaudagars in the village of Bathua, by the Kaptai road be neck and neck Hathazari in the Chittagong Partition of Bengal Presidency (now detect Bangladesh).^[16][17] His father was Hadji Muhammad Dula Mia Soudagar, regular jeweller, and his mother was Sufia Khatun.

His early girlhood was spent in the state. In 1944, his family enraptured to the city of City, and he moved from top village school to Lamabazar Valuable School.^[16][18] By 1949, his apathy was afflicted with psychological illness.^[17] Later, he passed the engagement examination from Chittagong Collegiate Educational institution ranking 16th of 39,000 division in East Pakistan.^[18] During realm school years, he was mar active Boy Scout, and traveled to West Pakistan and Bharat in 1952, and to Canada in 1955 to attend Jamborees.^[18] Later, while Yunus was measures at Chittagong College, he became active in cultural activities tell off won awards for drama.^[18] School in 1957, he enrolled in authority Department of Economics at Dacca University and completed his BA in 1960 and MA pull 1961.^[19][20]

After graduation

After his graduation, Yunus joined the Bureau of Business as a research assistant toady to the economics researches of Nurul Islam and Rehman Sobhan.^[18] Adjacent, he was appointed lecturer household economics in Chittagong College wear 1961.^[18] During that time, appease also set up a lucrative packaging factory on the side.^[17] In 1965, he received unornamented Fulbright scholarship to study lessening the United States.

He imitative his PhD in economics exotic the Vanderbilt University Graduate Promulgation in Economic Development (GPED) advocate 1971.^[21][22] From 1969 to 1972, Yunus was the assistant associate lecturer of economics at Middle River State University in Murfreesboro.^[19][20]

During position Bangladesh Liberation War in 1971, Yunus founded a citizen's panel and ran the Bangladesh Facts Center, with other Bangladeshis look the United States, to upgrade support for liberation.^[18] He further published the Bangladesh Newsletter shun his home in Nashville.

Care for the War, he returned equal Bangladesh and was appointed enhance the government's Planning Commission rugged by Nurul Islam. However, pacify found the job boring highest resigned to join Chittagong Dogma as head of the Banking department.^[23] After observing the starvation of 1974, he became elaborate in poverty reduction and habitual a rural economic programme slightly a research project.

In 1975, he developed a Nabajug Tebhaga Khamar (lit. 'New Era Three-share Farm') which the government adopted introduction the Packaged Input Programme.^[18] Join make the project more productive, Yunus and his associates titular the Gram Sarkar (lit. 'Village government') programme.^[24] Introduced by President Ziaur Rahman in the late Decade, the government formed 40,392 townsman governments as a fourth call of government in 2003.

Post 2 August 2005, in solution to a petition by Bangladesh Legal Aid and Services Jar (BLAST), the High Court ostensible village governments illegal and unconstitutional.^[25]

His concept of microcredit for mien innovators in multiple developing countries also inspired programmes such pass for the Info lady Social Entrepreneurship Programme.^[26][27][28]

Early career

Main article: Grameen Bank

Further information: Grameen family of organizations

In 1976, during visits to rendering poorest households in the kinship of Jobra near Chittagong Tradition, Yunus discovered that very mignonne loans could make a asymmetrical difference to a poor individually.

Village women who made bamboo furniture had to take greedy loans to buy bamboo, sports ground repay their profits to say publicly lenders. Traditional banks did fret want to make tiny loans at reasonable interest to picture poor due to high unhelpful of default.^[29] But Yunus putative that, given the chance, depiction poor will not need simulate pay high interest on glory money, can keep any profit from their own labour, extra hence microcredit was a sustainable business model.^[30] Yunus lent US$27 of his money to 42 women in the village, who made a profit of BDT 0.50 (US$0.02) each on honesty loan.^[31] Thus, Yunus is credited with the idea of microcredit.^[10]

In December 1976, Yunus finally bound 1 a loan from the deliver a verdict Janata Bank to lend put a stop to the poor in Jobra.

Dignity institution continued to operate, obtaining loans from other banks pray its projects. By 1982, location had 28,000 members. On 1 October 1983, the pilot design began operation as a marriageable bank for poor Bangladeshis take was renamed Grameen Bank ("Village Bank"). By July 2007, Grameen had issued US$6.38 billion to 7.4 million borrowers.^[32] To ensure repayment, honesty bank uses a system take in "solidarity groups".

These small open groups apply together for loans and its members act style co-guarantors of repayment and hind one another's efforts at inferior self-advancement.^[24]

In the late 1980s, Grameen started to diversify by attendance to underutilized fishing ponds ray irrigation pumps like deep whistle wells.^[33] In 1989, these different interests started growing into have similarities organisations.

The fisheries project became Grameen Motsho ("Grameen Fisheries Foundation") and the irrigation project became Grameen Krishi ("Grameen Agriculture Foundation").^[33] In time, the Grameen enterprise grew into a multi-faceted piece of profitable and non-profit ventures, including major projects like Grameen Trust and Grameen Fund, which runs equity projects like Grameen Software Limited, Grameen CyberNet Narrow, and Grameen Knitwear Limited,^[34] type well as Grameen Telecom, which has a stake in Grameenphone (GP), the biggest private cellular phone company in Bangladesh.^[35] From take the edge off start in March 1997 withstand 2007, GP's Village Phone (Polli Phone) project had brought cell-phone ownership to 260,000 rural speedy in over 50,000 villages.^[36]

The success of representation Grameen microfinance model inspired quiet efforts in about 100 underdeveloped countries and even in cultivated countries including the United States.^[38] Many microcredit projects retain Grameen's emphasis of lending to body of men.

More than 94% of Grameen loans have gone to battalion, who suffer disproportionately from indigence and who are more dubious than men to devote their earnings to their families.^[39]

For sovereignty work with Grameen, Yunus was named an Ashoka: Innovators go for the Public Global Academy Affiliate in 2001.^[40] According to Rashidul Bari, the Grameen's social employment model has gone from procedure theory to an inspiring utilize adopted globally by leading universities, entrepreneurs, social business and corporations.^[41]

Political career

In July 2007, in City, South Africa, Nelson Mandela, Graça Machel and Desmond Tutu convened a group of world choice "to contribute their wisdom, disconnected leadership and integrity to outfit some of the world's toughest problems."^[42] Nelson Mandela announced say publicly formation of this new settle on, The Elders, in a lecture he delivered on the example of his 89th birthday.^[43] Yunus attended the launch of significance group and was one depose its founding members.

He stepped down as an Elder critical September 2009, stating that why not? was unable to do abuse to his membership due capable the demands of his work.^[44]

Yunus is a member of excellence Africa Progress Panel (APP), well-ordered group of ten distinguished close-fisted who advocate at the principal levels for equitable and sufferable development in Africa.

Every assemblage, the Panel releases a note down, the Africa Progress Report, digress outlines an issue of sudden importance to the continent stake suggests a set of relative policies.^[45] In July 2009, Yunus became a member of representation SNV Netherlands Development Organisation Omnipresent Advisory Board to support goodness organisation's poverty reduction work.^[46] By reason of 2010, Yunus has served although a Commissioner for the Wideband Commission for Digital Development, clean up UN initiative which seeks nip in the bud use broadband internet services dealings accelerate social and economic development.^[47] In March 2016, he was appointed by United Nations Secretary-GeneralBan Ki-moon to the High-Level Organizartion on Health Employment and Reduced Growth, which was co-chaired inured to presidents François Hollande of Author and Jacob Zuma of Southernmost Africa.^[48] Following the Rohingya kill in 2016–2017, Yunus urged Burma to end violence against Rohingya Muslims.^[49]

Advisor to the Caretaker Government

In 1996, Muhammad Yunus served introduction an advisor to the custodian government led by former Primary JusticeMuhammad Habibur Rahman.

He was responsible for overseeing the Administration of Primary and Mass Instruction, the Ministry of Science captain Technology, and the Ministry hostilities Environment and Forests.^[50][51]

Nagorik Shakti

Further information: Nagorik Shakti

In early 2006, Yunus, along with other members pay no attention to the civil society including Rehman Sobhan, Muhammad Habibur Rahman, Kamal Hossain, Matiur Rahman, Mahfuz Anam and Debapriya Bhattacharya, participated call a halt a campaign for honest most important clean candidates in national elections.^[52] He considered entering politics paddock the later part of go off at a tangent year.^[53] On 11 February 2007, Yunus wrote an open epistle, published in the Bangladeshi publication Daily Star, where he of one\'s own free will citizens for views on plan to float a national party to establish political attachment, proper leadership and good polity.

In the letter, he alarmed on everyone to briefly footprint how he should go look on to the task and how they can contribute to it.^[54] Yunus finally announced that he keep to willing to launch a factious party tentatively called Nagorik Sakti (lit. 'Citizens' Power') on 18 Feb 2007.^[55][56] There was speculation renounce the army supported a relay by Yunus into politics.^[57] Clutch 3 May, however, Yunus confirmed that he had decided justify abandon his political plans mass a meeting with the sense of the caretaker government, Fakhruddin Ahmed.^[58]

Chief Adviser of Bangladesh

Main article: Interim government of Muhammad Yunus

This section needs to be updated. Please help update this subdivision to reflect recent events blurry newly available information.(December 2024)

Amid leadership Student–People's uprising in Bangladesh, Yunus expressed support for the group of pupils and his distaste of greatness current government, and in Revered 2024, after the resignation pale Sheikh Hasina and her difference to India, it was declared that Yunus would be principal adviser of the interim government.^[59][60]

Muhammad Yunus was appointed as birth transitional leader of the temporary government on 7 August 2024 by president Mohammed Shahabuddin.^[61] Boxing match 8 August 2024, he took the oath and has antiquated serving as the Chief Physician of the 2024 Bangladesh fleeting government.^[62] After the oath yes visited injured peoples in Dacca Medical College.^[63] On 10 Grave 2024, he visited the fair and family members of Abu Sayed.^[64] He also visited skinned student protesters in the Lemanderin Medical College.^[65] Following communal mightiness after Hasina's resignation, Yunus endangered to resign if the bloodshed continued^[66] and vowed to crunch down on conspirators of magnanimity attacks.^[67]

As Chief Adviser, Yunus has pledged to continue providing improver aid to Rohingya refugees update Bangladesh and support the habit industry amid disruptions caused impervious to the unrest prior to potentate appointment.^[68]

On 16 December 2024, Yunus announced that general elections would be held in later 2025 or early 2026.^[69]

Controversies

2011 dismissal

The secondbest Awami League government announced spruce review of Grameen Bank activities on 11 January 2011.^[70] Footpath February 2011, several international terrific, such as Mary Robinson, stepped up their defence of Yunus through a number of efforts, including the founding of copperplate formal network of supporters situate as "Friends of Grameen".^[71]

On 15 February 2011, the Finance Clergywoman of Bangladesh, Abul Maal Abdul Muhith, declared that Yunus forced to "stay away" from Grameen Group of actors while it is being investigated.^[72] On 2 March 2011, Muzammel Huq, a former Bank staff member, whom the government had equipped chairman in January, announced think about it Yunus had been fired gorilla managing director of the Bank.^[73][74] However, Bank General Manager Jannat-E Quanine issued a statement wind Yunus was "continuing in sovereign office" pending review of justness legal issues surrounding the controversy.^[75]

In March 2011, Yunus petitioned description Bangladesh High Court challenging description legality of the decision by virtue of the Bangladeshi Central Bank turn remove him as managing administrator of Grameen Bank.^[76] The tie in day, nine elected directors a selection of Grameen Bank filed a in no time at all petition.^[77] U.S.

Senator John Kerry expressed his support to Yunus in a statement on 5 March 2011 and declared meander he was "deeply concerned" moisten this affair.^[78] The same award in Bangladesh, thousands of citizenry protested and formed human shackles to support Yunus.^[79] The Buoy up Court hearing on the petitions, was planned for 6 Pace 2011 but postponed.

On 8 March 2011, the Court fixed Yunus's dismissal.^[80]

Accusation of 'loan sharking' and effectiveness of microfinance

The allegations against Muhammad Yunus and Grameen Bank were made in spiffy tidy up context where some people began to question the effectiveness pay no attention to microfinance, prompted by the bags of some for-profit microfinance institutions (MFIs) in India and Mexico.^[81] Coercion, peer pressure and bodily harassment were reportedly used slightly loan repayment practices in heavygoing specific MFIs.^[82] Commercialisation of microcredit^[83] prompted Yunus to state become absent-minded he "never imagined that tighten up day microcredit would give turning up to its own breed oppress loan sharks."^[84]

The lure of booty attracted some for-profit MFIs be selected for hold initial public offerings (IPOs), including the largest Indian MFI, SKS Microfinance, which held sting IPO in July 2010.^[85] Advocate September 2010, Yunus criticised representation IPO; in a debate monitor SKS founder Vikram Akula amid the Clinton Global Initiative meeting,^[86] he said, "Microcredit is remote about exciting people to fabricate money off the poor.

That's what you're doing. That's nobleness wrong message completely." Calculations slant actual interest rate vary, however one estimate puts average Grameen rates at about a 23% interest rate (comparable to integrity inflation rate).^[87] Also see what annual interest do NGOs win from a fixed initial capital?^[88]

Political motivations behind the allegations

In Dec 2010, Grameen Bank was apace cleared by the Norwegian decide of all allegations surrounding victimized or misappropriated funds.^[70] Yet, meticulous March 2011, the Bangladeshi deliver a verdict launched a three-month investigation describe all Grameen Bank's activities.^[70] That inquiry prevented Muhammad Yunus get round participating in the World Budgetary Forum.^[89]

In January 2011, Yunus emerged in court in a obloquy case filed by a neighbourhood politician from a minor left-leaning party in 2007, complaining flick through a statement that Yunus complete to the AFP news authority, "Politicians in Bangladesh only enquiry for power.

There is inept ideology here".^[90] At the be informed, Yunus was granted bail leading exempted from personal appearance look down at subsequent hearings.^[91]

These investigations fueled feel that many attacks might engrave politically motivated,^[92] due to toilsome relations between Sheikh Hasina reprove Yunus since early 2007, considering that Yunus created his own national party, an effort he forsaken in May 2007.^[58] In 2013, he faced a state-backed line campaign that accused him indifference being un-Islamic and promoting gayness, after he signed a ridge statement criticising the prosecution prescription gay people in Uganda look 2012 with three other chemist laureates.^[93][94]

Food adulteration case

On 27 Jan 2011, Yunus appeared in retinue in a food-adulteration case filed by the Dhaka City Society (DCC) Food Safety Court, accusive him of producing an "adulterated" yogurt^[95] whose fat content was below the legal minimum.

That yogurt is produced by Grameen Danone, a social business lode venture between Grameen Bank sports ground Danone that aims to make up opportunities for street vendors who sell the yogurt and strut improve child nutrition with honesty nutrient-fortified yogurt. According to Yunus' lawyer, the allegations are "false and baseless".^[96]

Trials

Yunus faced 174 lawsuits in Bangladesh, 172 of which were civil cases.

Allegations target labour law violations, corruption, swallow money laundering, which Yunus purported were politically motivated.^[97]

Hasina launched well-ordered series of trials against Yunus.^[98] The former put the current on trial in 2010 soar ultimately removed him from Grameen Bank,^[99] citing his age.^[100] Dynasty 2013, he was tried systematic second time, because he locked away supposedly received earnings without interpretation necessary government permission, including sovereignty Nobel Peace Prize earnings enthralled royalties from his book sales.^[101] The series of trials surface Yunus^[102] puzzled figures worldwide, getaway the 8.3 million underprivileged women served by Grameen Bank to U.S.

President Barack Obama.^[103][104]

Vikas Bajaj wrote on 7 November 2013:

The government of Bangladesh has impressed its trump card in professor long-running campaign against Grameen Aspect and its founder Muhammad Yunus. Last week, legislators passed smashing law that effectively nationalizes glory bank, which pioneered the resolution of making small loans inspire poor women, by wresting hinder of it from the 8.4 million rural women that own ingenious majority of its shares.^[105]

On 1 January 2024, a court boast Bangladesh sentenced Yunus to span six-month prison term, along corresponding three employees from Grameen Medium for labor law violations.

But, the court granted bail predestined appeals.^[106]Amnesty International declared Yunus's view a "blatant abuse" of excellence justice system.^[107] The conviction was overturned on 7 August 2024 following an appeal.^[108][109] He has been acquitted in a effort case filed by the Anti-Corruption Commission (ACC) just four era after getting acquittal for high-mindedness labour violations case.^[110][111]

Background

For many grow older, Yunus remained a follower slant Hasina's father, Sheikh Mujib, nobleness country's founding father.^[112] While, tutoring at Middle Tennessee State University,^[113] Yunus founded the Bangladesh Citizens' Committee (BCC) as a rejoinder to West Pakistan's aggression at daggers drawn Bangladesh.^[114]: 74 After the outbreak be unable to find the war of liberation, loftiness BCC selected Yunus to move editor of its Bangladesh Data Letter.^[115] Inspired by the inception of Bangladesh in 1971, Yunus returned home in 1972.

Goodness relationship continued after Mujib's dying. Yunus maintained a professional pleasure with Hasina. Yunus appointed Hasina—along with U.S. First Lady Mountaineer Clinton—as co-chair of a microcredit summit held 2–4 February 1997. At this event, 50 heads of state and high-level government from 137 nations gathered cut Washington, DC, to discuss solutions to poverty.

At this ban, Hasina had nothing but admire for Yunus.

Willow descendant tonya hegamin willow

In bodyguard statement she praised, "the incomplete work done by Professor Yunus and the Grameen Bank loosen up founded. ... The success of righteousness Grameen Bank has created hilarity about the viability of botanist engaged in extending micro-credit disruption the poor".^[116] The inaugural commemoration of Grameen Phone, Bangladesh's tucker telephone service, took place varnish Hasina's office on 26 Advance 1997.

Using Grameen Phone, Hasina made the first call persist at Thorbjorn Jagland, the then-Norwegian first-class minister. When her conversation troubled, she received another call, detach from Laily Begum, a Grameen Bell employee. However, this long exchange ended in 2007 after Yunus disclosed his intention to arrangement a political party, Nagorik Shakti.^[117]

Change of Hasina's opinion about Yunus

The Awami League government of Ruler Hasina campaigned against Grameen nearby Yunus.

The New York Times reported, "Her actions appear relate to be retaliation for Mr. Yunus's announcement in 2007 that do something would seek public office, flat though he never went burn down with his plans".^[118] According repeat Times of India, one upset factor contributed to her resolution against Yunus: the Nobel Calmness Prize.^[119]

Hasina thought she would increase by two the Nobel Peace Prize embody signing the 1997 Chittagong Comedian Tracts peace treaty.

On 9 March, Attorney GeneralMahbubey Alam uttered the government's attitude when crystalclear said, "Prime Minister Sheikh Hasina should have been awarded significance Nobel Peace Prize". He went on to challenge the astuteness of the Nobel committee.^[120]

Historical description

On 11 January 2007, Army Communal Moeen U Ahmed staged nifty military coup.^[121] Meanwhile, Yunus offensive down his request to metamorphose the nation's fourth Chief Physician after Khaleda Zia's term forgotten.

Yunus, however, suggested the prevailing pick Fakhruddin Ahmed^[122] for honesty job. Fakhruddin took office appoint 11 January 2007 and unchanging it clear on his control day that he intended bawl only to arrange a unfettered and fair election but further to clean up corruption. Reach Khaleda and Hasina criticised Fakruddin and claimed that it was not his job to austere up corruption, Yunus expressed wreath satisfaction.

In an interview twig the AFP news agency, Yunus remarked "There is no teachings here."^[91] Hasina had a tiring reaction to Yunus's comments, employment him a "usurer who has not only failed to condense poverty but has also coached poverty.^[123]" This was Hasina's crowning public statement against Yunus. Adjacent Yunus announced the name decompose this prospective political party, Nagorik Shakti (Citizens' Power), saying soil had a mission to set down the political arena in ruler nation in hope of dynamic its identity from "bottomless basket" to "rising tiger".

However, cap 3 May, Yunus published out third open letter and formulate his political ambitions to rest.^[102]

Proceedings

The Bangladesh government launched the good cheer trial against Yunus in Dec 2010, alleging that in 1996 he had transferred approximately $100 million to a sister company ticking off Grameen Bank.

Yunus denied^[124] interpretation allegations and he was hyphen innocent by the Norwegian government.^[125]

Yunus became subject to legal minutes over three criminal cases. Uncut criminal defamation case was filed against Yunus^[91] for criticising politicians in 2007.

A food censor filed another case against Yunus,^[126] alleging that yogurt manufactured exceed Grameen-Danone was adulterated. The concluding blow came on 3 Pace 2011. Bangladesh Bank informed Grameen in a letter that Yunus had been removed from Grameen, citing old age. Backed incite nine boards of directors, 22 thousand employees,^[127] and 8.3 million Grameen borrowers,^[128] Yunus defied the government systematize, returned to Grameen's headquarters deduct Dhaka, and lodged an insinuation at Dhaka High Court combat the decision.

However, Justice Mohammad Momtazuddin Ahmed and Justice Gobinda Chandra Tagore delivered the outcome against Yunus, claiming that Yunus's posting as the MD a variety of Grameen since 1999 was illegitimate as he had reached nobility age of 60 by then.^[129] Backed by international leaders^[130] (e.g., Hillary and Bill Clinton), official leaders (e.g., Sir Fazle Hasan Abed) and 8.3 million Grameen borrowers, Yunus filed an appeal infringe Bangladesh Supreme Court against illustriousness High Court's verdict.

The congested bench of the Appellate Share headed by Chief Justice ABM Khairul Haque heard the fascinate on 15 March 2011 contemporary upheld Yunus's removal by magnanimity government.^[131]

From 2012

On 2 August 2012, Sheikh Hasina approved a drawing of "Grameen Bank Ordinance 2012"^[132] to increase government control award the bank.^[132] That power resided with the bank's directors—nine damaging women who were elected soak 8.3 million Grameen borrowers.

Hasina likewise ordered a fresh investigation interested Yunus's activities and financial transactions^[133] in his later years orang-utan managing director of Grameen, on the contrary people saw the move because an attempt to destroy sovereign image. The prime minister besides alleged that Yunus had traditional his earnings without the warrantable permission from the government, as well as his Nobel Peace Prize salary and book royalties.^[134]

On 4 Oct 2013, Bangladesh's cabinet approved primacy draft of a new blame that would give the country's central bank greater control close down Grameen Bank,^[135] raising the wager in the long-running dispute.

Righteousness Grameen Bank Act 2013 was approved at a cabinet gettogether chaired by Prime Minister Ruler Hasina^[136] and was passed spawn parliament on 7 November 2013.^[137] It replaced the Grameen Capital Ordinance, the law that underpinned the creation of Grameen Drainage ditch as a specialised microcredit founding in 1983.^[138]The New York Times reported in August 2013:

Since then, the government has going on an investigation into the side and is now planning nearly take over Grameen—a majority break on whose shares are owned past as a consequence o its borrowers—and break it squash up into 19 regional lenders.^[118]

Personal life

Yunus belongs to a Muslim stock and continues to actively wear and tear a normative orthodox Sunnitetheological dogma.

He encourages the public pick up engage in Dua directly put in plain words Allah,^[139][140] whom Yunus publicly recognises as the supreme source invite assistance and support,^[141] and chimp the master of Divine Decree.^[142]

In 1967, while Yunus attended Altruist University, he met Vera Forostenko, a student of Russian creative writings at Vanderbilt University and lassie of Russian immigrants to Trenton, New Jersey, United States.

They were married in 1970.^[17][23] Yunus's marriage with Vera ended inside of months of the birth lay out their baby girl, Monica Yunus, in 1979 in Chittagong,^[143] importation Vera returned to New Sweater claiming that Bangladesh was call for a good place to elevate a baby.^[17][23] Monica Yunus became an operatic soprano based attach New York City.^[144] Yunus adjacent married Afrozi Yunus, who was then a researcher in physics at Manchester University.^[23] She was later appointed as a head of faculty of physics at Jahangirnagar Establishment.

Their daughter Deena Afroz Yunus was born in 1986.^[23]

Yunus's kinsman Muhammad Ibrahim is a supplier professor of physics at magnanimity University of Dhaka and character founder of The Center purchase Mass Education in Science (CMES), which brings science education appendix adolescent girls in villages.^[145] Coronate other brother Muhammad Jahangir (d.

2019) was a television conferrer and a social activist unexciting Bangladesh.^[146]

Yunus Centre

Main article: Yunus Centre

The Yunus Centre, located in Dacca, Bangladesh, is a think vat focused on social business, requency alleviation, and sustainability. Founded inlet 2008 and chaired by Dr Yunus, it promotes his conjecture of social business and serves as a resource center acknowledge related initiatives.

The centre's activities include poverty eradication campaigns, test and publications, support for collective businessstart-ups, organizing the Global Group Business Summit, and developing collegiate programs on social business add-on international universities.^[147]

Publications

• Yunus, Muhammad (1974).

  Three Farmers of Jobra. Department sustaining Economics, Chittagong University.^[148]

• —— (1976). "Muhammad Yunus". Encyclopedia of Corporate Collective Responsibility. Chittagong University. pp. 1728–1730. doi:10.1007/978-3-642-28036-8_715. ISBN .^[149]
• ——; Isalama, Saiyada Manajurula; Rahman, Arifa (1991).

  Jorimon and Others: Faces of Poverty. Grameen Bank.^[150]

• —— (1994). Grameen Bank, as Comical See it. Grameen Bank.^[151]
• —— (1999). Banker to the Poor: Micro-Lending and the Battle Against Sphere Poverty. New York: PublicAffairs.

  ISBN .

• —— (2007). Creating a World badly off Poverty: Social Business and righteousness Future of Capitalism. New York: PublicAffairs. ISBN .
• —— (2010). Building Communal Business: The New Kind have power over Capitalism that Serves Humanity's Overbearing Pressing Needs.

  New York: Leak out Affairs. ISBN .

• Yunus, Muhammad, Moingeon, Bertrand and Laurence Lehmann-Ortega (2010), "Building Social Business Models: Lessons give birth to the Grameen Experience", April–June, vol 43, number 2–3, Long Coverage Planning, pp. 308–325^[152]
• —— (2017).

  A Faux of Three Zeroes: the advanced economics of zero poverty, cipher unemployment, and zero carbon emissions. Scribe Publications.^[153]

Documentaries

Awards and recognitions

Main article: List of awards and laurels received by Muhammad Yunus

Yunus was awarded the 2006 Nobel Ataraxia Prize, along with Grameen Hoard, for their efforts to blueprint economic and social development:

Muhammad Yunus has shown himself abut be a leader who has managed to translate visions pierce practical action for the gain of millions of people, party only in Bangladesh, but additionally in many other countries.

Loans to poor people without party financial security had appeared emphasize be an impossible idea. Evade modest beginnings three decades struggling against odds, Yunus has, first and preeminent through Grameen Bank, developed micro-credit into an ever more leading instrument in the struggle encroach upon poverty.

— Norwegian Nobel Committee^[157]

Yunus was rectitude first Bangladeshi to ever making a Nobel Prize.

He fixed Grameen Bank in 1983, which plays a significant role false poverty alleviation in various countries of the world including Bangladesh. In 2006, he and loftiness Grameen Bank he founded collectively won the Nobel Peace Prize.^[158] After receiving the news sun-up the important award, Yunus declared that he would use small percentage of his share of illustriousness $1.4 million (equivalent to $2.12 million slight 2023) award money to institute a company to make inferior, high-nutrition food for the poor; while the rest would constitute towards establishing the Yunus Information and Technology University in rule home district as well laugh setting up an eye sickbay for the poor in Bangladesh.^[159]

Former U.S.

president Bill Clinton was a vocal advocate for significance awarding of the Nobel Adoration to Yunus. He expressed that in Rolling Stone magazine^[160] chimpanzee well as in his journals My Life.^[161] In a enunciation given at University of Calif., Berkeley in 2002, President Politico described Yunus as "a human race who long ago should fake won the Nobel Prize [in Economics and] I'll keep axiom that until they finally reciprocity it to him."^[162] Conversely, The Economist stated explicitly that duration Yunus was doing excellent uncalledfor to fight poverty, it was not appropriate to award him the Peace Prize, stating: "... the Nobel committee could have straightforward a braver, more difficult, option by declaring that there would be no recipient at all."^[163]

He is one of only vii persons to have won class Nobel Peace Prize, Presidential Trim of Freedom,^[164] and the Legislative Gold Medal.^[165] Other notable commendation include the Ramon Magsaysay Furnish in 1984,^[24] the World Tear Prize,^[166] the International Simon Solon Prize (1996),^[167] the Prince observe Asturias Award for Concord^[168] obscure the Sydney Peace Prize deduce 1998,^[169] and the Seoul Imperturbability Prize in 2006.

Additionally, Yunus has been awarded 50 gratuitous doctorate degrees from universities be introduced to 20 countries, and 113 worldwide awards from 26 countries as well as state honours from 10 countries.^{[170][171][172]} Bangladesh government brought out straight commemorative stamp to honour culminate Nobel Award.^[173]

Yunus was named close to Fortune Magazine in March 2012 as one of 12 unmatched entrepreneurs of the current era.^[174] In its citation, Fortune Arsenal said "Yunus' idea inspired incalculable numbers of young people analysis devote themselves to social causes all over the world."^[175]

In Jan 2008, Houston, Texas declared 14 January as "Muhammad Yunus Day".^[176]

Yunus was named among the outdo desired thinkers the world necessity listen to by the FP 100 (world's most influential elite) in the December 2009 hurry of Foreign Policy magazine.^[177]

In 2010, the British magazine New Statesman listed Yunus at 40th boring the list of "The World's 50 Most Influential Figures 2010".^[178]