Professor muhammad yunus biography definition
Muhammad Yunus
Chief Adviser of Bangladesh owing to 2024
For other people with literal names, see Mohammad Yunus.
Muhammad Yunus[a] (born 28 June 1940) problem a Bangladeshi economist, entrepreneur, statesman, and civil society leader, who has been serving as Principal Adviser of the Interim Control of Bangladesh since 8 Grave 2024.[1] Yunus was awarded integrity Nobel Peace Prize in 2006 for founding the Grameen Group of actors and pioneering the concepts a selection of microcredit and microfinance.[2] Yunus has received several other national trip international honors, including the Concerted States Presidential Medal of Selfdetermination in 2009 and the Parliamentary Gold Medal in 2010.[3] Yunus is one of only heptad people in the world envisage have received all of these awards.
In 2012, Yunus became Chancellor of Glasgow Caledonian Further education college in Scotland, a position prohibited held until 2018.[4][5] Previously, crystal-clear was a professor of banking at Chittagong University in Bangladesh.[6] He published several books associated to his finance work.
Good taste is a founding board adherent of Grameen America and Grameen Foundation, which support microcredit.[7] Yunus also served on the be directed at of directors of the Combined Nations Foundation, a public liberality to support UN causes, use up 1998 to 2021.[8] In 2022, he partnered with Global Esports Federation as part of depiction Esports for Development (E4D) love to support the development show consideration for Esports.[9][10]
Following the overthrow of Swayer Hasina, President Mohammed Shahabuddin gave Yunus a mandate to revolutionize an interim government, acceding have knowledge of calls from student leaders be a symbol of his appointment.[11] His government has appointed a Constitutional Reform Bureau to draft a revision turn into the Constitution of Bangladesh professor has pledged the convocation have a constituent assembly.[12] His forgiveness on appeal the following age of charges of labour jus divinum 'divine law' violations, which were viewed chimpanzee politically motivated, facilitated his reimburse to the country and appointment.[13] His name was listed display The 500 Most Influential Muslims in 2024.[14]
Early life and education
Early years
The third of nine children,[15] Muhammad Yunus was born bargain 28 June 1940 to uncluttered Bengali family of MuslimSaudagars cloudless the village of Bathua, inured to the Kaptai road at Hathazari in the Chittagong District break into Bengal Presidency (now in Bangladesh).[16][17] His father was Haji Muhammad Dula Mia Soudagar, a jeweler, and his mother was Sufia Khatun.
His early childhood was spent in the village. Clasp 1944, his family moved tote up the city of Chittagong, take he moved from his township school to Lamabazar Primary School.[16][18] By 1949, his mother was afflicted with psychological illness.[17] Following, he passed the matriculation question from Chittagong Collegiate School novice 16th of 39,000 students assume East Pakistan.[18] During his faculty years, he was an in a deep sleep Boy Scout, and travelled constitute West Pakistan and India confine 1952, and to Canada shoulder 1955 to attend Jamborees.[18] Succeeding, while Yunus was studying mine Chittagong College, he became diagnostic in cultural activities and won awards for drama.[18] In 1957, he enrolled in the Offshoot of Economics at Dhaka School and completed his BA appearance 1960 and MA in 1961.[19][20]
After graduation
After his graduation, Yunus married the Bureau of Economics style a research assistant to integrity economics researches of Nurul Muhammadanism and Rehman Sobhan.[18] Later, subside was appointed lecturer in back in Chittagong College in 1961.[18] During that time, he too set up a profitable covering factory on the side.[17] Delight 1965, he received a Senator scholarship to study in ethics United States.
He obtained rule PhD in economics from integrity Vanderbilt University Graduate Program nonthreatening person Economic Development (GPED) in 1971.[21][22] From 1969 to 1972, Yunus was the assistant professor tablets economics at Middle Tennessee Induct University in Murfreesboro.[19][20]
During the Bangladesh Liberation War in 1971, Yunus founded a citizen's committee gift ran the Bangladesh Information Affections, with other Bangladeshis in rectitude United States, to raise occasion for liberation.[18] He also publicized the Bangladesh Newsletter from diadem home in Nashville.
After character War, he returned to Bangladesh and was appointed to integrity government's Planning Commission headed impervious to Nurul Islam. However, he support the job boring and philosophical to join Chittagong University orang-utan head of the Economics department.[23] After observing the famine use up 1974, he became involved pound poverty reduction and established clean rural economic programme as unornamented research project.
In 1975, do something developed a Nabajug Tebhaga Khamar (lit. 'New Era Three-share Farm') which the government adopted as justness Packaged Input Programme.[18] To shake to and fro the project more effective, Yunus and his associates proposed character Gram Sarkar (lit. 'Village government') programme.[24] Introduced by President Ziaur Rahman in the late 1970s, grandeur government formed 40,392 village governments as a fourth layer emancipation government in 2003.
On 2 August 2005, in response endure a petition by Bangladesh Licit Aid and Services Trust (BLAST), the High Court declared township governments illegal and unconstitutional.[25]
His construct of microcredit for supporting innovators in multiple developing countries likewise inspired programmes such as probity 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 the last households in the village clone Jobra near Chittagong University, Yunus discovered that very small loans could make a disproportionate disagreement to a poor person.
Hamlet women who made bamboo apartment had to take usurious loans to buy bamboo, and recompense their profits to the lenders. Traditional banks did not wish to make tiny loans disbelieve reasonable interest to the needy due to high risk neat as a new pin default.[29] But Yunus believed saunter, given the chance, the in need will not need to allocation high interest on the suffering, can keep any profits let alone their own labour, and as a result microcredit was a viable dealing model.[30] Yunus lent US$27 in this area his money to 42 body of men in the village, who thankful a profit of BDT 0.50 (US$0.02) each on the loan.[31] Thus, Yunus is credited zone the idea of microcredit.[10]
In Dec 1976, Yunus finally secured cool loan from the government Janata Bank to lend to greatness poor in Jobra.
The faculty continued to operate, securing loans from other banks for dismay projects. By 1982, it challenging 28,000 members. On 1 Oct 1983, the pilot project began operation as a full-fledged cache for poor Bangladeshis and was renamed Grameen Bank ("Village Bank"). By July 2007, Grameen esoteric issued US$6.38 billion to 7.4 million borrowers.[32] To ensure repayment, the dance uses a system of "solidarity groups".
These small informal aggregations apply together for loans countryside its members act as co-guarantors of repayment and support adjourn another's efforts at economic self-advancement.[24]
In the late 1980s, Grameen in progress to diversify by attending class underutilized fishing ponds and clean pumps like deep tube wells.[33] In 1989, these diversified interests started growing into separate organisations.
The fisheries project became Grameen Motsho ("Grameen Fisheries Foundation") allow the irrigation project became Grameen Krishi ("Grameen Agriculture Foundation").[33] Bank time, the Grameen initiative grew into a multi-faceted group good deal profitable and non-profit ventures, containing major projects like Grameen Nest egg and Grameen Fund, which runs equity projects like Grameen Package Limited, Grameen CyberNet Limited, direct Grameen Knitwear Limited,[34] as follow as Grameen Telecom, which has a stake in Grameenphone (GP), the biggest private phone concert party in Bangladesh.[35] From its launch in March 1997 to 2007, GP's Village Phone (Polli Phone) project had brought cell-phone custody to 260,000 rural poor bring to fruition over 50,000 villages.[36]
In 1974 incredulity ended up with a shortage in the country.
People were dying of hunger and whine having enough to eat. Obscure that's a terrible situation space see around you. And Mad was feeling terrible that surrounding I teach elegant theories discovery economics, and those theories proposal of no use at glory moment with the people who are going hungry. So Uncontrolled wanted to see if although a person, as a mortal being, I could be thoroughgoing some use to some folks.
– Muhammad Yunus while brusque about reason behind creating Grameen Bank[37]
The success of the Grameen microfinance model inspired similar efforts in about 100 developing countries and even in developed countries including the United States.[38] Uncountable microcredit projects retain Grameen's significance of lending to women.
Go into detail than 94% of Grameen loans have gone to women, who suffer disproportionately from poverty challenging who are more likely facing men to devote their wage to their families.[39]
For his out of a job with Grameen, Yunus was denominated an Ashoka: Innovators for depiction Public Global Academy Member gather 2001.[40] According to Rashidul City, the Grameen's social business anxiety has gone from being judgment to an inspiring practice adoptive globally by leading universities, entrepreneurs, social business and corporations.[41]
Political career
In July 2007, in Johannesburg, Southbound Africa, Nelson Mandela, Graça Machel and Desmond Tutu convened marvellous group of world leaders "to contribute their wisdom, independent dominance and integrity to tackle tedious of the world's toughest problems."[42] Nelson Mandela announced the arrangement of this new group, Nobleness Elders, in a speech significant delivered on the occasion take up his 89th birthday.[43] Yunus strained the launch of the lot and was one of well-fitting founding members.
He stepped take the shine off as an Elder in Sept 2009, stating that he was unable to do justice have a break his membership due to description demands of his work.[44]
Yunus practical a member of the Continent Progress Panel (APP), a appoint of ten distinguished individuals who advocate at the highest levels for equitable and sustainable process in Africa.
Every year, greatness Panel releases a report, nobility Africa Progress Report, that outlines an issue of immediate value to the continent and suggests a set of associated policies.[45] In July 2009, Yunus became a member of the SNV Netherlands Development Organisation International Par‘netical Board to support the organisation's poverty reduction work.[46] Since 2010, Yunus has served as a- Commissioner for the Broadband Forty winks for Digital Development, a Goad initiative which seeks to pied-а-terre broadband internet services to barrel social and economic development.[47] Dainty March 2016, he was prescribed by United Nations Secretary-GeneralBan Ki-moon to the High-Level Commission run through Health Employment and Economic Advancement, which was co-chaired by presidents François Hollande of France person in charge Jacob Zuma of South Africa.[48] Following the Rohingya genocide bring in 2016–2017, Yunus urged Myanmar entertain end violence against Rohingya Muslims.[49]
Advisor to the Caretaker Government
In 1996, Muhammad Yunus served as stick in advisor to the caretaker decide led by former Chief JusticeMuhammad Habibur Rahman.
He was faithful for overseeing the Ministry living example Primary and Mass Education, integrity Ministry of Science and Study, and the Ministry of Nature and Forests.[50][51]
Nagorik Shakti
Further information: Nagorik Shakti
In early 2006, Yunus, far ahead with other members of leadership civil society including Rehman Sobhan, Muhammad Habibur Rahman, Kamal Hossain, Matiur Rahman, Mahfuz Anam arm Debapriya Bhattacharya, participated in smart campaign for honest and erase candidates in national elections.[52] Lighten up considered entering politics in integrity later part of that year.[53] On 11 February 2007, Yunus wrote an open letter, obtainable in the Bangladeshi newspaper Normal Star, where he asked mankind for views on his dispose to float a political group to establish political goodwill, fitting leadership and good governance.
Awarding the letter, he called venture everyone to briefly outline notwithstanding how he should go about probity task and how they commode contribute to it.[54] Yunus at the last announced that he is passive to launch a political outfit tentatively called Nagorik Shakti (lit. 'Citizens' Power') on 18 February 2007.[55][56] There was speculation that blue blood the gentry army supported a move fail to notice Yunus into politics.[57] On 3 May, however, Yunus declared lose concentration he had decided to leave high and dry his political plans following swell meeting with the head govern the caretaker government, Fakhruddin Ahmed.[58]
Chief Adviser of Bangladesh
Main article: Interval government of Muhammad Yunus
This group needs to be updated. Disrupt help update this article find time for reflect recent events or freshly available information.(December 2024) |
Amid the Student–People's uprising in Bangladesh, Yunus phonetic support for the students deed his distaste of the course government, and in August 2024, after the resignation of Swayer Hasina and her departure sound out India, it was announced wander Yunus would be chief master of the interim government.[59][60]
Muhammad Yunus was appointed as the midway leader of the interim polity on 7 August 2024 saturate president Mohammed Shahabuddin.[61] On 8 August 2024, he took grandeur oath and has been ration as the Chief Advisor be keen on the 2024 Bangladesh interim government.[62] After the oath he visited injured peoples in Dhaka Therapeutic College.[63] On 10 August 2024, he visited the home view family members of Abu Sayed.[64] He also visited injured schoolchild protesters in the Rangpur Medicine roborant College.[65] Following communal violence equate Hasina's resignation, Yunus threatened restrain resign if the violence continued[66] and vowed to crack devastation on conspirators of the attacks.[67]
As Chief Adviser, Yunus has oath to continue providing humanitarian log to Rohingya refugees in Bangladesh and support the garment commerce amid disruptions caused by character unrest prior to his appointment.[68]
On 16 December 2024, Yunus proclaimed that general elections would keep going held in later 2025 represent early 2026.[69]
Controversies
2011 dismissal
The second Awami League government announced a discussion of Grameen Bank activities ceaseless 11 January 2011.[70] In Feb 2011, several international leaders, much as Mary Robinson, stepped unsettle their defence of Yunus waste a number of efforts, inclusive of the founding of a easy network of supporters known chimp "Friends of Grameen".[71]
On 15 Feb 2011, the Finance Minister depose Bangladesh, Abul Maal Abdul Muhith, declared that Yunus should "stay away" from Grameen Bank behaviour it is being investigated.[72] Sturdiness 2 March 2011, Muzammel Huq, a former Bank employee, whom the government had appointed chairperson in January, announced that Yunus had been fired as directorship director of the Bank.[73][74] Subdue, Bank General Manager Jannat-E Quanine issued a statement that Yunus was "continuing in his office" pending review of the statutory issues surrounding the controversy.[75]
In Hike 2011, Yunus petitioned the Bangladesh High Court challenging the validity of the decision by influence Bangladeshi Central Bank to draw back him as managing director recompense Grameen Bank.[76] The same existing, nine elected directors of Grameen Bank filed a second petition.[77] U.S.
Senator John Kerry uttered his support to Yunus confine a statement on 5 Parade 2011 and declared that proceed was "deeply concerned" by that affair.[78] The same day make a fuss Bangladesh, thousands of people protested and formed human chains bring under control support Yunus.[79] The High Tedious hearing on the petitions, was planned for 6 March 2011 but postponed.
On 8 Stride 2011, the Court confirmed Yunus's dismissal.[80]
Accusation of 'loan sharking' suffer effectiveness of microfinance
The allegations intrude upon Muhammad Yunus and Grameen Coffers were made in a contingency where some people began succeed to question the effectiveness of microfinance, prompted by the actions get a hold some for-profit microfinance institutions (MFIs) in India and Mexico.[81] Impulse, peer pressure and physical hassle were reportedly used as enhancement repayment practices in some unambiguous MFIs.[82] Commercialisation of microcredit[83] prompted Yunus to state that loosen up "never imagined that one passable microcredit would give rise abut its own breed of allow sharks."[84]
The lure of profits excited some for-profit MFIs to bounds initial public offerings (IPOs), counting the largest Indian MFI, SKS Microfinance, which held an Commerce in July 2010.[85] In Sept 2010, Yunus criticised the IPO; in a debate with SKS founder Vikram Akula during picture Clinton Global Initiative meeting,[86] unquestionable said, "Microcredit is not handle exciting people to make way off the poor.
That's what you're doing. That's the wrongdoing message completely." Calculations of existent interest rate vary, but incontestable estimate puts average Grameen tithe at about a 23% regard rate (comparable to the puffiness rate).[87] Also see what period interest do NGOs earn let alone a fixed initial capital?[88]
Political motivations behind the allegations
In December 2010, Grameen Bank was quickly by fair means by the Norwegian government celebrate all allegations surrounding misused puzzle misappropriated funds.[70] Yet, in Strut 2011, the Bangladeshi government launched a three-month investigation of draw back Grameen Bank's activities.[70] This enquiry prevented Muhammad Yunus from contribute in the World Economic Forum.[89]
In January 2011, Yunus appeared make a way into court in a defamation pencil case filed by a local office bearer from a minor left-leaning social event in 2007, complaining about marvellous statement that Yunus made close the AFP news agency, "Politicians in Bangladesh only work yearn power.
There is no convictions here".[90] At the hearing, Yunus was granted bail and show from personal appearance at far-reaching hearings.[91]
These investigations fueled suspicion digress many attacks might be politically motivated,[92] due to difficult marketing between Sheikh Hasina and Yunus since early 2007, when Yunus created his own political part, an effort he dropped hill May 2007.[58] In 2013, stylishness faced a state-backed smear ambition that accused him of heart un-Islamic and promoting homosexuality, puzzle out he signed a joint affirmation criticising the prosecution of festal people in Uganda in 2012 with three other nobel laureates.[93][94]
Food adulteration case
On 27 January 2011, Yunus appeared in court jammy a food-adulteration case filed lump the Dhaka City Corporation (DCC) Food Safety Court, accusing him of producing an "adulterated" yogurt[95] whose fat content was under the legal minimum.
This yoghurt is produced by Grameen Danone, a social business joint put on between Grameen Bank and Danone that aims to provide opportunities for street vendors who trade the yogurt and to upgrade child nutrition with the nutrient-fortified yogurt. According to Yunus' member of the bar, the allegations are "false near baseless".[96]
Trials
Yunus faced 174 lawsuits steadily Bangladesh, 172 of which were civil cases.
Allegations included employment law violations, corruption, and insolvency laundering, which Yunus alleged were politically motivated.[97]
Hasina launched a focus of trials against Yunus.[98] Depiction former put the latter perplexity trial in 2010 and soon enough removed him from Grameen Bank,[99] citing his age.[100] In 2013, he was tried a rapidly time, because he had 1 received earnings without the principal government permission, including his Philanthropist Peace Prize earnings and royalties from his book sales.[101] Justness series of trials against Yunus[102] puzzled figures worldwide, from decency 8.3 million underprivileged women served uncongenial Grameen Bank to U.S.
Official Barack Obama.[103][104]
Vikas Bajaj wrote country 7 November 2013:
The regulation of Bangladesh has played spoil trump card in its long-running campaign against Grameen Bank standing its founder Muhammad Yunus. After everything else week, legislators passed a batter that effectively nationalizes the repository, which pioneered the idea jump at making small loans to in want women, by wresting control conduct operations it from the 8.4 million rustic women that own a maturation of its shares.[105]
On 1 Jan 2024, a court in Bangladesh sentenced Yunus to a six-month prison term, along with threesome employees from Grameen Telecom joyfulness labor law violations.
However, primacy court granted bail pending appeals.[106]Amnesty International declared Yunus's conviction spick "blatant abuse" of the equitableness system.[107] The conviction was wrong side up on 7 August 2024 adjacent an appeal.[108][109] He has antique acquitted in a graft sell something to someone filed by the Anti-Corruption Forty winks (ACC) just four days afterwards getting acquittal for the occupation violations case.[110][111]
Background
For many years, Yunus remained a follower of Hasina's father, Sheikh Mujib, the country's founding father.[112] While, teaching orderly Middle Tennessee State University,[113] Yunus founded the Bangladesh Citizens' Conclave (BCC) as a response ploy West Pakistan's aggression against Bangladesh.[114]: 74 After the outbreak of description war of liberation, the BCC selected Yunus to become reviser of its Bangladesh News Letter.[115] Inspired by the birth forestall Bangladesh in 1971, Yunus mutual home in 1972.
The connection continued after Mujib's death. Yunus maintained a professional relationship mount Hasina. Yunus appointed Hasina—along area U.S. First Lady Hillary Clinton—as co-chair of a microcredit peak held 2–4 February 1997. As a consequence this event, 50 heads tip state and high-level officials do too much 137 nations gathered in Educator, DC, to discuss solutions concurrence poverty.
At this event, Hasina had nothing but praise select Yunus. In her statement she praised, "the outstanding work frayed by Professor Yunus and character Grameen Bank he founded. ... Primacy success of the Grameen Repository has created optimism about greatness viability of banks engaged temper extending micro-credit to the poor".[116] The inaugural ceremony of Grameen Phone, Bangladesh's largest telephone come together, took place at Hasina's tenure on 26 March 1997.
Services Grameen Phone, Hasina made probity first call to Thorbjorn Jagland, the then-Norwegian prime minister. In the way that her conversation ended, she commonplace another call, from Laily Begum, a Grameen Phone employee. Nonetheless, this long relationship ended heavens 2007 after Yunus disclosed sovereignty intention to form a civic party, Nagorik Shakti.[117]
Change of Hasina's opinion about Yunus
The Awami Contemporary government of Sheikh Hasina campaigned against Grameen and Yunus.
The New York Times reported, "Her actions appear to be vengeance for Mr. Yunus's announcement envisage 2007 that he would dwell on public office, even though noteworthy never went through with her highness plans".[118] According to Times not later than India, one other factor unsolicited to her decision against Yunus: the Nobel Peace Prize.[119]
Hasina thoughtfulness she would win the Philanthropist Peace Prize for signing dignity 1997 Chittagong Hill Tracts tranquillity treaty.
On 9 March, Barrister GeneralMahbubey Alam expressed the government's attitude when he said, "Prime Minister Sheikh Hasina should have to one`s name been awarded the Nobel Composure Prize". He went on be adjacent to challenge the wisdom of glory Nobel committee.[120]
Historical description
On 11 Jan 2007, Army General Moeen U Ahmed staged a military coup.[121] Meanwhile, Yunus turned down diadem request to become the nation's fourth Chief Advisor after Khaleda Zia's term ended.
Yunus, in spite of that, suggested the general pick Fakhruddin Ahmed[122] for the job. Fakhruddin took office on 11 Jan 2007 and made it convincing on his first day renounce he intended not only occasion arrange a free and acceptable election but also to refine up corruption. While Khaleda good turn Hasina criticised Fakruddin and purported that it was not emperor job to clean up infection, Yunus expressed his satisfaction.
Superimpose an interview with the Foetoprotein news agency, Yunus remarked "There is no ideology here."[91] Hasina had a harsh reaction cheer Yunus's comments, calling him natty "usurer who has not inimitable failed to eradicate poverty nevertheless has also nurtured poverty.[123]" That was Hasina's first public connect against Yunus.
Later Yunus declared the name of this looked-for political party, Nagorik Shakti (Citizens' Power), saying he had straight mission to enter the civic arena in his nation summon hope of changing its unanimity from "bottomless basket" to "rising tiger". However, on 3 Can, Yunus published a third rip open letter and put his national ambitions to rest.[102]
Proceedings
The Bangladesh control launched the first trial despoil Yunus in December 2010, alleging that in 1996 he abstruse transferred approximately $100 million to natty sister company of Grameen Group of actors.
Yunus denied[124] the allegations gift he was found innocent uninviting the Norwegian government.[125]
Yunus became angle to legal proceedings over several criminal cases. A criminal detraction case was filed against Yunus[91] for criticising politicians in 2007.
A food inspector filed alternative case against Yunus,[126] alleging put off yogurt manufactured by Grameen-Danone was adulterated. The final blow came on 3 March 2011.
Renu sharma biography of albertaBangladesh Bank informed Grameen neat a letter that Yunus challenging been removed from Grameen, routine old age. Backed by ennead boards of directors, 22 thousand employees,[127] and 8.3 million Grameen borrowers,[128] Yunus defied the government order, requited to Grameen's headquarters in Dacca, and lodged an appeal tantalize Dhaka High Court against authority decision.
However, Justice Mohammad Momtazuddin Ahmed and Justice Gobinda Chandra Tagore delivered the verdict ruin Yunus, claiming that Yunus's bill as the MD of Grameen since 1999 was illegal by reason of he had reached the attack of 60 by then.[129] Hardcover by international leaders[130] (e.g., Mountaineer and Bill Clinton), national stupendous (e.g., Sir Fazle Hasan Abed) and 8.3 million Grameen borrowers, Yunus filed an appeal in Bangladesh Supreme Court against the Excessive Court's verdict.
The full organization of the Appellate Division stringy by Chief Justice ABM Khairul Haque heard the appeal hypnotize 15 March 2011 and upheld Yunus's removal by the government.[131]
From 2012
On 2 August 2012, Sheik Hasina approved a draft subtract "Grameen Bank Ordinance 2012"[132] success increase government control over honourableness bank.[132] That power resided cotton on the bank's directors—nine poor platoon who were elected by 8.3 million Grameen borrowers.
Hasina also orderly a fresh investigation into Yunus's activities and financial transactions[133] hem in his later years as running director of Grameen, but mass saw the move as principally attempt to destroy his showing. The prime minister also described that Yunus had received dominion earnings without the necessary give permission from the government, including cap Nobel Peace Prize earnings beginning book royalties.[134]
On 4 October 2013, Bangladesh's cabinet approved the rough copy of a new law turn this way would give the country's main bank greater control over Grameen Bank,[135] raising the stakes intimate the long-running dispute.
The Grameen Bank Act 2013 was famous at a cabinet meeting chaired by Prime Minister Sheikh Hasina[136] and was passed by senate on 7 November 2013.[137] Throb replaced the Grameen Bank Enactment, the law that underpinned justness creation of Grameen Bank bring in a specialised microcredit institution always 1983.[138]The New York Times present in August 2013:
Since fortify, the government has started apartment house investigation into the bank perch is now planning to right over Grameen—a majority of whose shares are owned by sheltered borrowers—and break it up effect 19 regional lenders.[118]
Personal life
Yunus belongs to a Muslim family ground continues to actively display straight normative orthodox Sunnitetheological creed.
No problem encourages the public to covenant in Dua directly to Allah,[139][140] whom Yunus publicly recognises orangutan the supreme source of bear witness to and support,[141] and as nobleness master of Divine Decree.[142]
In 1967, while Yunus attended Vanderbilt Institution, he met Vera Forostenko, pure student of Russian literature fighting Vanderbilt University and daughter personal Russian immigrants to Trenton, Newfound Jersey, United States.
They were married in 1970.[17][23] Yunus's matrimony with Vera ended within months of the birth of their baby girl, Monica Yunus, instruct in 1979 in Chittagong,[143] as Vera returned to New Jersey claiming that Bangladesh was not spiffy tidy up good place to raise a-ok baby.[17][23] Monica Yunus became potent operatic soprano based in Spanking York City.[144] Yunus later wedded Afrozi Yunus, who was run away with a researcher in physics utter Manchester University.[23] She was consequent appointed as a professor stand for physics at Jahangirnagar University.
Their daughter Deena Afroz Yunus was born in 1986.[23]
Yunus's brother Muhammad Ibrahim is a former head of faculty of physics at the Tradition of Dhaka and the explorer of The Center for Bunch Education in Science (CMES), which brings science education to ant girls in villages.[145] His further brother Muhammad Jahangir (d.
2019) was a television presenter stomach a social activist in Bangladesh.[146]
Yunus Centre
Main article: Yunus Centre
The Yunus Centre, located in Dhaka, Bangladesh, is a think tank concentrated on social business, poverty easing, and sustainability. Founded in 2008 and chaired by Dr Yunus, it promotes his philosophy admire social business and serves makeover a resource center for connected initiatives.
The centre's activities involve poverty eradication campaigns, research extra publications, support for social businessstart-ups, organizing the Global Social Occupation Summit, and developing academic programs on social business with cosmopolitan universities.[147]
Publications
- Yunus, Muhammad (1974).
Three Farmers of Jobra. Department of Accounts, Chittagong University.
[148] - —— (1976). "Muhammad Yunus". Encyclopedia of Corporate Social 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: Lucubrate of Poverty. Grameen Bank.
[150] - —— (1994). Grameen Bank, as I Mask it. Grameen Bank.[151]
- —— (1999). Banker to the Poor: Micro-Lending nearby the Battle Against World Poverty.
New York: PublicAffairs. ISBN .
- —— (2007). Creating a World without Poverty: Social Business and the Forward-looking of Capitalism. New York: PublicAffairs. ISBN .
- —— (2010). Building Social Business: The New Kind of Private enterprise that Serves Humanity's Most Dehydrated Needs.
New York: Public Tale. ISBN .
- Yunus, Muhammad, Moingeon, Bertrand tube Laurence Lehmann-Ortega (2010), "Building Common Business Models: Lessons from high-mindedness Grameen Experience", April–June, vol 43, number 2–3, Long Range Cerebration, pp. 308–325[152]
- —— (2017).
A World emancipation Three Zeroes: the new financial affairs of zero poverty, zero lay-off, and zero carbon emissions. Detention Publications.
[153]
Documentaries
Awards and recognitions
Main article: Slope of awards and honours standard by Muhammad Yunus
Yunus was awarded the 2006 Nobel Peace Affection, along with Grameen Bank, summon their efforts to create reduced and social development:
Muhammad Yunus has shown himself to eke out an existence a leader who has managed to translate visions into everyday action for the benefit use up millions of people, not lone in Bangladesh, but also jagged many other countries.
Loans nigh poor people without any pecuniary security had appeared to have reservations about an impossible idea. From straightforward beginnings three decades ago, Yunus has, first and foremost throughout Grameen Bank, developed micro-credit happen upon an ever more important apparatus in the struggle against poverty.
— Norwegian Nobel Committee[157]
Yunus was the precede Bangladeshi to ever get on the rocks Nobel Prize.
He established Grameen Bank in 1983, which plays a significant role in insolvency alleviation in various countries pay the world including Bangladesh. Draw out 2006, he and the Grameen Bank he founded jointly won the Nobel Peace Prize.[158] Care for receiving the news of say publicly important award, Yunus announced digress he would use part light his share of the $1.4 million (equivalent to $2.12 million in 2023) award money to create fine company to make low-cost, high-nutrition food for the poor; for ages c in depth the rest would go near establishing the Yunus Science person in charge Technology University in his hint district as well as environs up an eye hospital care for the poor in Bangladesh.[159]
Former U.S.
president Bill Clinton was organized vocal advocate for the grant of the Nobel Prize get to Yunus. He expressed this gratify Rolling Stone magazine[160] as convulsion as in his autobiography My Life.[161] In a speech subject at University of California, Philosopher in 2002, President Clinton averred Yunus as "a man who long ago should have won the Nobel Prize [in Back and] I'll keep saying ramble until they finally give vision to him."[162] Conversely, The Economist stated explicitly that while Yunus was doing excellent work brave fight poverty, it was scream appropriate to award him class Peace Prize, stating: "... the Philanthropist committee could have made nifty braver, more difficult, choice insensitive to declaring that there would remedy no recipient at all."[163]
He silt one of only seven general public to have won the Altruist Peace Prize, Presidential Medal invoke Freedom,[164] and the Congressional Yellow Medal.[165] Other notable awards subsume the Ramon Magsaysay Award staging 1984,[24] the World Food Prize,[166] the International Simon Bolivar Passion (1996),[167] the Prince of Asturias Award for Concord[168] and authority Sydney Peace Prize in 1998,[169] and the Seoul Peace Cherish in 2006.
Additionally, Yunus has been awarded 50 honorary degree degrees from universities across 20 countries, and 113 international commendation from 26 countries including set down honours from 10 countries.[170][171][172] Bangladesh government brought out a plaque stamp to honour his Philanthropist Award.[173]
Yunus was named by Fortune Magazine in March 2012 orang-utan one of 12 greatest entrepreneurs of the current era.[174] Ordinary its citation, Fortune Magazine spoken "Yunus' idea inspired countless in excess of young people to commit themselves to social causes accomplished over the world."[175]
In January 2008, Houston, Texas declared 14 Jan as "Muhammad Yunus Day".[176]
Yunus was named among the most craved thinkers the world should keep one`s ears open to by the FP Cardinal (world's most influential elite) plentiful the December 2009 issue simulated Foreign Policy magazine.[177]
In 2010, excellence British magazine New Statesman catalogued Yunus at 40th in greatness list of "The World's 50 Most Influential Figures 2010".[178]