Muhammad Yunus
Founder of Grameen Bank and 2006 Nobel Peace Prize Laureate

Muhammad Yunus is an economist and social entrepreneur who pioneered the impactful concepts of microfinance and microcredit. He was awarded the 2006 Nobel Peace Prize for his invaluable services to economic development. A true financial innovator, Yunus’ unique model of financial aid consisted of extending monetary loans to promising entrepreneurs who would typically not possess the minimum resources required to qualify for a traditional Bank Loan. Born in Bangladesh, he founded Grameen Bank in 1983 as a core component of his research project into how the beneficial rewards of capitalist entrepreneurship can be enjoyed by the rural poor. Over the next few decades, Grameen Bank exponentially expanded to include nearly 9.5 million borrows, of which over 96.81% were women—making the social enterprise a significant driver of economic gender equality as well as wealth creation.

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