Muhammad Yunus

Muhammad Yunus is a Bangladeshi social entrepreneur, banker, economist, and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. Yunus and the Grameen Bank were awarded the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below." 

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 development."

Yunus has received several other national and international honors. He received the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010. In 2008, he was rated number 2 in Foreign Policy magazine's Top 100 Global Thinkers list.

In February 2011, Yunus, Saskia Bruysten, Sophie Eisenmann, and Hans Reitz co-founded Yunus Social Business – Global Initiatives. YSB creates and empowers social businesses to address and solve global problems. 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.

In 2012, he became Chancellor of Glasgow Caledonian University in Scotland, a position he held until 2018. Previously, he was a professor of economics at Chittagong University in Bangladesh. He published several books related to his finance work. In addition, he is a founding board member of Grameen America and Grameen Foundation, which support microcredit.

Yunus also served on the board of directors of the United Nations Foundation, a public charity to support UN causes from 1998 to 2021. In addition, Yunus was awarded the 2006 Nobel Peace Prize, along with Grameen Bank, for their efforts to create economic and social development.

In the prize announcement, The Norwegian Nobel Committee mentioned: "Muhammad Yunus has shown himself to be a leader who has managed to translate visions into practical action for the benefit of millions of people, not only in Bangladesh but also in many other countries. Loans to poor people without financial security appeared to be impossible. From modest beginnings three decades ago, Yunus has, first and foremost through Grameen Bank, developed micro-credit into an ever more important instrument in the struggle against poverty".