Muhammad Yunus
Muhammad Yunus
Muhammad Yunusis 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. In 2006, 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". The Norwegian Nobel Committee said that "lasting...
ProfessionEntrepreneur
Date of Birth28 June 1940
CityChittagong, Bangladesh
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I made a list of people who needed just a little bit of money. And when the list was complete, there were 42 names. The total amount of money they needed was $27. I was shocked.
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Engaging in social business is beneficial to a company because it leverages on business competencies to address social issues, involves one-time investment with sustainable results, and produces other positive effects such as employee motivation and improved organizational culture.
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Good economic theory must give the people the chance to use their talents to build their own lives. We must get away from the traditional route where the rich will do the business and the poor will depend on private or public charity.
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Microcredit has shown how you can reach out to people that conventional banking cannot. It has demonstrated that it's a doable proposition.
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Credit markets were originally created to serve human needs; to provide businesses and individuals with capital to start or expand businesses or fulfill other financial needs.
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The new millennium began with a great global dream. World leaders gathered at the United Nations in 2000 and adopted, among others, a historic goal to reduce poverty by half by 2015. Never in human history had such a bold goal been adopted by the entire world in one voice, one that specified time and size.
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There are cultural issues everywhere - in Bangladesh, Latin America, Africa, wherever you go. But somehow when we talk about cultural differences, we magnify those differences.
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Nothing is more valuable to people than health care, and by paying, they feel less like beggars and more like 'customers' who can and should demand quality care.
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Capitalism has been interpreted as an exclusively profit-centric human engagement. Some have been saying to bring people and planet into the picture. This can be a good change, but it is still not fully operationalized. Are you putting people, planet and profit at the same level?
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I wanted to give money to people like this woman so that they would be free from the moneylenders to sell their product at the price which the markets gave them - which was much higher than what the trader was giving them.
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The profit orientation is only one orientation of a person. The same people who are interested in profit-making are also selfless. I am not saying that capitalist theory is wrong. I am saying that it has not been interpreted and practiced fully.
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We have designed a capitalist system wrong. We assume human beings are one-dimensional, all they do is make money, so we've created a money-centric world.
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I believe terrorism cannot be won over by military action. Terrorism must be condemned in the strongest language. We must stand solidly against it, and find all the means to end it. We must address the root causes of terrorism to end it for all time to come.
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Money commands everything because that's our interpretation of capitalism... what kind of world is that? It's a very uncomfortable interpretation of a human being. We have been turned into robots.