Professor Muhammad Yunus, widely known as Doctor Yunus, is the visionary behind the Grameen Bank, established in Bangladesh in 1983. Driven by the conviction that access to credit is a fundamental human right, Doctor Yunus sought to empower impoverished communities. His core mission was to provide loans on terms accessible to the poor, coupled with essential financial education, enabling them to lift themselves out of poverty.
The journey began in the mid-1970s when Doctor Yunus personally lent small sums of money to destitute basket weavers in Bangladesh. This initial act of compassion and belief in human potential blossomed into the Grameen Bank. This pioneering institution stands at the forefront of a global movement dedicated to eradicating poverty through microlending. The Grameen Bank model, championed by Doctor Yunus, has been replicated with remarkable success in over 100 countries worldwide, demonstrating the universality and effectiveness of his approach.
Born in 1940 in Chittagong, a bustling seaport city in Bangladesh, Doctor Yunus pursued his academic aspirations at Dhaka University. He was awarded a Fulbright scholarship, which enabled him to further his studies in economics at Vanderbilt University in the United States. He earned his Ph.D. in economics from Vanderbilt in 1969, solidifying his expertise in the field. In 1970, Doctor Yunus commenced his professorial career as an assistant professor of economics at Middle Tennessee State University. His dedication to his homeland led him back to Bangladesh, where he assumed the leadership of the economics department at Chittagong University, further contributing to economic thought and education within his nation.
Doctor Yunus’s influence extends beyond academia and banking. From 1993 to 1995, he served as a distinguished member of the International Advisory Group for the Fourth World Conference on Women, appointed by the UN Secretary-General. His commitment to global well-being is further evidenced by his service on the Global Commission of Women’s Health, the Advisory Council for Sustainable Economic Development, and the UN Expert Group on Women and Finance. Doctor Yunus has consistently championed inclusivity and sustainable development on the world stage.
The groundbreaking ideas and tireless efforts of Doctor Yunus have been recognized with numerous prestigious international awards. These accolades include the Mohamed Shabdeen Award for Science (1993) from Sri Lanka, the Humanitarian Award (1993) from CARE, USA, and the World Food Prize (1994) from the World Food Prize Foundation, USA. Bangladesh honored him with the lndependence Day Award (1987), the nation’s highest civilian award. Further international recognition includes the King Hussein Humanitarian Leadership Award (2000) from the King Hussein Foundation in Jordan, the Volvo Environment Prize (2003) from the Volvo Environment Prize Foundation in Sweden, the Nikkei Asia Prize for Regional Growth (2004) from Nihon Keizai Shimbun in Japan, the Franklin D. Roosevelt Freedom Award (2006) from the Roosevelt Institute of The Netherlands, and the Seoul Peace Prize (2006) from the Seoul Peace Prize Cultural Foundation in Seoul, Korea. Doctor Yunus also serves on the board of the United Nations Foundation, further cementing his role as a global leader and advocate for positive change.
This biographical account is based on materials compiled at the time of Doctor Yunus’s Nobel Prize award and subsequently published in the esteemed book series Les Prix Nobel/ Nobel Lectures/The Nobel Prizes. Information may include updates submitted by Doctor Yunus himself, ensuring its continued relevance and accuracy.
