Muhammad Yunus

Nobel laureate who revolutionized poverty alleviation through microfinance

Muhammad Yunus, the 2006 Nobel Peace Prize winner from Bangladesh, created an unprecedented economic model through Grameen Bank. Unlike traditional banking systems, Yunus pioneered microcredit loans for impoverished individuals without collateral requirements.

His revolutionary approach began in 1976 when he lent $27 to 42 stool-makers in Jobra Village. This experiment proved that small loans could empower marginalized communities. Today, Grameen Bank serves over 9 million borrowers, 97% being women.

Yunus challenged conventional economic theories by demonstrating that:

• Poverty results from system failures, not personal shortcomings
• Microfinance creates self-employment opportunities
• Social businesses can solve human problems profitably

The Grameen model has been replicated in 100+ countries, impacting an estimated 300 million people globally.