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
A charity dollar has only one life; a Social Business dollar can be invested over and over again.
If you look at the gender composition of all the borrowers of all the banks in Bangladesh, not even 1% of the borrowers happen to be women.
Human beings have enormous resilience.
Poverty is the absence of all human rights. The frustrations, hostility and anger generated by abject poverty cannot sustain peace in any society.
One day our grandchildren will go to museums to see what poverty was like.
Policies are also to blame: the only thing that the governments and people can come up with to give to the poor people is charity. Poor people get hand outs from the state. But this is not a solution to poverty.
The oneness of human beings is the basic ethical thread that holds us together.
I founded Grameen Bank to provide loans to those considered traditionally unbankable. Grameen Bank works with the poorest and often illiterate, providing uncollateralized micro-loans for tiny business enterprises by which they can lift themselves and their families out of poverty.
I’m encouraging young people to become social business entrepreneurs and contribute to the world, rather than just making money. Making money is no fun. Contributing to and changing the world is a lot more fun.
... When tiny, tiny things start happening a million times, it becomes a large thing. It lays down the foundation of a strong economic base. With women participating in building this economic base, it becomes the foundation for better social and economic future ...
We developed microfinance to fight loan sharks - I was telling people don't go to loan sharks - not trying to take advantage and make money for myself. I would be a junior loan shark if I did... It is not a panacea.
We have a list of human rights - right to food, right to shelter, right to health, right to education, many such items which are considered and accepted as bill of rights. These are to be insured to people. So all nations, all societies try to do that.
Poverty is an artificial, external imposition on a human being; it is not innate in a human being. And since it is external, it can be removed. It is just a question of doing it.
There is the expression of selfishness and there is the expression of selflessness - but economists or theoreticians never touched that part. They said: 'Go and become a philanthropist.' I said, 'No, I can do that in the business world, create a different kind of business - a business based on selflessness.'