Topics: Muhammad Yunus, Bangladesh, Companies of Bangladesh Pages: 48 (16578 words) Published: December 14, 2012
Muhammad Yunus
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Muhammad Yunus|

Muhammad Yunus at World Economic Forum in Davos, Switzerland, 25 January 2012| Born| 28 June 1940 (age 72)
Chittagong, Bangladesh (then part of the British Raj)|
Nationality| Bangladeshi|
Institution| Chittagong University
Shahjalal University of Science and Technology
Middle Tennessee State University Glasgow Caledonian University| Field| Microcredit theory, development economics|
Alma mater| University of Dhaka
Vanderbilt University|
Contributions| Grameen Bank
Awards| Independence Day Award (1987)
World Food Prize (1994)
Nobel Peace Prize (2006)
Presidential Medal of Freedom (2009)
Congressional Gold Medal (2010)
Aga Khan Award for Architecture|
Information at IDEAS/RePEc|
Muhammad Yunus (Chittagonian, Bengali: মুহাম্মদ ইউনুস, translit. Muhammôd Iunus; born 28 June 1940) is a Bangladeshi banker, economist and Nobel Peace Prize recipient. He previously was a professor of economics where he developed the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. In 2006 Yunus and Grameen received the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below".[1] Yunus himself has received several other national and international honors. In 2012, he was installed Chancellor of Glasgow Caledonian University in Scotland, serving in this capacity as the university's titular head.[2][3] He is also a member of advisory board at Shahjalal University of Science and Technology. Previously, he was a professor of economics at Chittagong University where he developed the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. He is the author of Banker to the Poor and two books on Social Business Models, and a founding board member of Grameen America and Grameen Foundation. Grameen Intel is just one of hundreds of public and private partnerships now mediated through Youth & Yunus. In early 2007 Yunus showed interest in launching a political party in Bangladesh named Nagorik Shakti (Citizen Power), but later discarded the plan. He is one of the founding members of Global Elders. Yunus also serves on the board of directors of the United Nations Foundation, a public charity created in 1998 with entrepreneur and philanthropist Ted Turner’s historic $1 billion gift to support UN causes. The UN Foundation builds and implements public-private partnerships to address the world’s most pressing problems, and broadens support for the UN.[4] In March 2011, after months of government attack, the Bangladesh government controversially fired Yunus from his position at Grameen Bank, citing legal violations and an age limit on his position.[5] Bangladesh's High Court affirmed the removal on 8 March. Yunus and Grameen Bank are appealing the decision, claiming Yunus' removal was politically motivated. Professor Yunus was chosen by Wharton School of Business for PBS documentary, as one of 'The 25 Most Influential Business Persons of the Past 25 Years'.[6] In 2006, Time magazine listed him under "60 years of Asian Heroes" as one of the top 12 business leaders.[7] In 2008, in an open online poll, Yunus was voted the 2nd topmost intellectual person in the world on the list of Top 100 Public Intellectuals by Prospect Magazine (UK) and Foreign Policy (United States).[8] Contents * 1 Early life and education * 1.1 Early years * 1.2 After graduation * 2 Early career * 3 Recognition * 4 Political activity * 5 Controversies * 5.1 Disproved allegations from a Danish documentary * 5.2 Questioning microfinance – the 'loan sharks' issue * 5.3 Political motivations behind the allegations * 5.4 Transition to a new management * 5.5 Allegations involving...
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