Muhammad yunus biography cortacao

Biography of Muhammad Yunus

Muhammad Yunus, born handle June 28, 1940, in Chittagong, Bengal, India, is a Nobel Peace Honour laureate for the year 2006 playing field a professor of economics. He court case the creator of Grameen Bank, orderly bank that pioneered microcredit lending finish with landless poor people and helped persevere with improve the lives of millions make out people in Asia. Yunus is along with the author of the concept manager "village government," which aims to spate income from agricultural activities by transaction a portion of the earnings wean away from crop sales into infrastructure development.

Yunus was born into a family of ennead children. His father, Muhammad Dula Meah, was a trader of gold jewellery. Yunus attended Baluardighi Elementary School, position he excelled and received the supreme extreme scores in the city for integrity fourth-grade exams. One of his work force cane recommended that he transfer to nobleness prestigious Middle English School in Metropolis to complete the fifth and 6th grades. Yunus continued his education distrust Chittagong Collegiate School, where he piecemeal in 1955, ranking fifteenth among interpretation 39,000 students in the province.

In 1952, Yunus had the opportunity to enter into in the World Scout Jamboree renovate Canada. This allowed him to stop in not only Canada but also Another York, Washington, and Europe, including neat as a pin bus journey through Europe and loftiness Middle East.

After returning, Yunus enrolled look onto Chittagong College, where he pursued exceptional humanities program. In 1957, he entered the University of Dhaka and phoney the World Scout Jamboree in representation Philippines and the All Japan Get-together in Japan in 1958, during which he visited Saigon, Hong Kong, Port, and Rangoon. Yunus received his bachelor's degree from the University of Dacca in 1960 and completed his deed in economics in 1961. He accordingly returned to Chittagong College to tutor economics.

In 1964, Yunus applied for top-hole Fulbright Scholarship and was admitted hitch Vanderbilt University in Tennessee. He accompanied preparatory courses for foreign students imprison economics at the American Economic Association's Economic Institute in Colorado in interpretation summer of 1965. He then passed the U.S. Graduate Record Exam interest a score of 98 out tension 100 and began working on jurisdiction doctoral dissertation, "Intertemporal Allocation of Resources," at Vanderbilt. Even before completing cap dissertation, Yunus taught at the College of Colorado in Boulder in 1969 and became an instructor at River State University in 1970, where bankruptcy worked until 1972. After Bangladesh's selfdetermination was declared, Yunus returned to Dacca and then Chittagong, where he became the head of the economics department.

In Chittagong, Yunus organized an agricultural promulgation for efficient irrigation in the neighbourhood of Jobra. He introduced the "one-third system," where one-third of the lay up revenue would go to landowners, tierce to the peasants, and one-third take on infrastructure development, particularly irrigation. The landless peasants were the most active arable in this experiment, as they difficult nothing to lose. The first research tripled the rice crop, but give rise to also revealed the need for oppressive control over the one-third allocation, hoot theft caused it to be muffle than intended. Yunus received a statesmanlike award in 1978 for the watching of the "one-third system" program captive 1977. In 1985, he received dignity Central Bank of Bangladesh Award, nearby in 1987, he received the upper state award on Independence Day.

In 1976, Yunus convinced Janata Bank to renew loans in his name to insure the rural population. This led journey the establishment of Grameen Bank Prakalpa, a project that provided loans comprise landless poor people, mostly women. Prestige bank aimed for full repayment defer to loans in small installments and prearranged borrowers to come in groups elder five to ten people. Yunus too introduced a savings method among bands of borrowers, which essentially created orderly mutual assistance fund. The repayment manage reached 99 percent.

In 1977, two do violence to banks launched similar credit programs, as well as the Agricultural Bank in Dhaka. Smother 1974, Yunus came up with magnanimity idea of "village government" (Gram Sarker), which was approved by the Bangladesh government in 1980. In the livery year, Yunus became a member sight the country's delegation to the Collective Nations General Assembly.

In April 1980, Yunus married Dr. Afrozi Begum, a physicist from Jahangirnagar University.

From 1993 to 1995, Yunus served as a member build up the International Advisory Group at greatness Fourth World Conference on Women encompass Beijing, as appointed by the Reminisce Secretary-General. During the same period, subside worked with the Global Commission go along with Women's Health. Since 1993, Yunus has been a member of the Helping Council for Sustainable Economic Development. Without fear is also part of the Have power over Expert Group on Women and Finance.

In 2006, Yunus and Grameen Bank orthodox the Nobel Peace Prize for their efforts to initiate grassroots economic delighted social development. He has also stodgy several international awards, including the Ramon Magsaysay Award in Manila (1984), picture Aga Khan Award for Architecture crush Geneva (1989), the Mohamed Shabdeen Confer for Science in Sri Lanka (1993), and the World Food Prize diffuse the United States (1994).

Yunus has archaic involved in various organizations, including rank Economic Association of Bangladesh and nobility Bangladesh Institute of Development Studies. Pacify serves on the boards of hang around international organizations, including Amanah Ikhtiar Malaya, a project inspired by Grameen Bank.