![]() ![]() He obtained his PhD in economics from the Vanderbilt University Graduate Program in Economic Development (GPED) in 1971. In 1965, he received a Fulbright scholarship to study in the United States. During that time, he also set up a profitable packaging factory on the side. Later, he was appointed lecturer in economics in Chittagong College in 1961. In 1957, he enrolled in the Department of Economics at Dhaka University and completed his BA in 1960 and MA in 1961.Īfter his graduation, Yunus joined the Bureau of Economics as a research assistant to the economics researches of Nurul Islam and Rehman Sobhan. Later, while Yunus was studying at Chittagong College, he became active in cultural activities and won awards for drama. During his school years, he was an active Boy Scout, and travelled to West Pakistan and India in 1952, and to Canada in 1955 to attend Jamborees. Later, he passed the matriculation examination from Chittagong Collegiate School ranking 16th of 39,000 students in East Pakistan. By 1949, his mother was afflicted with psychological illness. In 1944, his family moved to the city of Chittagong, and he moved from his village school to Lamabazar Primary School. His early childhood was spent in the village. His father was Hazi Dula Mia Shoudagar, a jeweler, and his mother was Sufia Khatun. The third of nine children, Muhammad Yunus was born on 28 June 1940 to a Bengali Muslim family in the village of Bathua, by the Kaptai road in Hathazari, Chittagong in the Bengal Presidency of the British Raj, present Bangladesh. ![]() Early life and education Early years Yunus as a Boy Scout, in 1953 Yunus visiting Chittagong Collegiate School, in 2003 ![]() Yunus also served on the board of directors of the United Nations Foundation, a public charity to support UN causes, from 1998 to 2021. He is a founding board member of Grameen America and Grameen Foundation, which support microcredit. He published several books related to his finance work. Previously, he was a professor of economics at Chittagong University in Bangladesh. In 2012, he became Chancellor of Glasgow Caledonian University in Scotland, a position he held until 2018. As the international implementation arm for Yunus' vision of a new, humane capitalism, YSB manages incubator funds for social businesses in developing countries and provides advisory services to companies, governments, foundations and NGOs. YSB creates and empowers social businesses to address and solve social problems around the world. In February 2011, Yunus together with Saskia Bruysten, Sophie Eisenmann and Hans Reitz co-founded Yunus Social Business – Global Initiatives (YSB). He received the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010. Yunus has received several other national and international honours. The Norwegian Nobel Committee said that "lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty" and that "across cultures and civilizations, Yunus and Grameen Bank have shown that even the poorest of the poor can work to bring about their own development". Yunus and the Grameen Bank were jointly awarded the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below". ![]() These loans are given to entrepreneurs too poor to qualify for traditional bank loans. Muhammad Yunus (born 28 June 1940) is a Bangladeshi social entrepreneur, banker, economist and civil society leader who was awarded the Nobel Peace Prize in 2006 for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. ![]()
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