2. Muhammad Yunus (born 28 June 1940) is a
Bangladeshi banker, economist and Noble Peace
Prize recipient.
He previously was a professor of economics
where he developed the concepts of microcredit
and microfinance.
In 2006 Yunus and Grameen Bank received the
“Noble Peace Prize"for their efforts through
microcredit to create economic and social
development from below". Yunus himself has
received several other national and international
honours.
3. Mohammad Yunus helped by starting a
special bank for needy people in
Bangladesh.
This special bank caters to people who are
poor and cannot afford high interest rates
from a normal bank.
He loans small amounts of money to the
poor people with low interest rates.
These loans are given to entrepreneurs too
poor to qualify for traditional bank loans
4. In 1976, during visits to the poorest households in
the village of Jobra near Chittagong
University, Yunus discovered that very small loans
could make a disproportionate difference to a poor
person.
Accumulated through many loans, this vastly
improving Bangladesh's ability to export and
import as it did in the past, resulting in a greater
form of globalisation and economic status.
While traditional banks were not interested in
making tiny loans at reasonable interest rates to
the poor due to high repayment risks,Yunus
believed that given the chance the poor will repay
the borrowed money and hence microcredit could
be a viable business model.
5. Yunus finally succeeded in securing a loan from
the government Janata Bank to lend it to the poor
in Jobra in December 1976.
In 2012, he was installed as Chancellor of
Glasgow Caledonian University in
Scotland, serving in this capacity as the
university's titular head.
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.
6. Done by : Lin Yao Hua
: Lucas Tai
: Loy Xing Kang
: Roy Chua
Sources: Wikipedia
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