Muhammad Yunus

Muhammad Yunus (born the June 28th 1940 with Chittagong) is a economist and contractor bangladais known to have founded the first institution of Microcrédit, the Grameen Bank; what been worth the to him Nobel Prize of peace in 2006. It is called the “banker of the poor”.

Childhood and family

Resulting from an easy family, third child of a family of fourteen children, of which five died in low age, Muhammad Yunus is born the June 28th 1940 in the village from Bathua, Hathazari, in the district of Chittagong, which formed then part of the India under English colonization. He passes to the first years in his native village then his family settles in 1947 in Chittagong, the second city of Bangladesh, where his/her father, Hazi Dula Mia Shoudagar, holds a jewelry. In its autobiography, Yunus introduces his/her father like a Moslem pious, anxious to lead a sober existence to the material plan. It also underlines the opening of his parents with regard to the western world.

Yunus Marie a premìère time in the United States in 1970, with an American young person of Russian origin, Vera Forostenko, which it meets with the Université Vanderbilt. They had in 1977 a girl, Monica Yunus which is pianist in New York. He divorces and remarie in 1980 with Afrozi Yunus, a professor of physics of the university of Jahangirnagar, with which he had his second daughter, Dina Yunus. One of his/her brothers is also in the academic medium. Muhammad Ibrahim is professor of physics at the university of Dhaka and Muhammad Jahangir is a presenter of television.

Formation

Yunus studies the first years in the school of its native village then at the Lamabazar elementary school and Chittagong Collegiate School. Yunus makes its first voyage at the thirteen years age thanks to the servant boy Scout S. It goes to Pakistan Occidental for a national meeting of boyscouts, Jamboree Boy Scout National. At the time of an international meeting, Jamboree Scout Mondial of 1955, which is held with the Canada it benefits from it to visit the Europe and the the Middle East. Thus the young man traverses the India, the North America, Europe, goes to the Japan and the Filipino at the time of his large international gatherings.

In 1957, it is registered in economy at the university of Dhaka and obtains its Bachelor off Arts in 1960 and its Master off Arts the following year. Once these diplomas out of pocket, it becomes teaching in economy with the Chittagong College . At 21 years, it is made contractor, by setting up the first factory high-tech of packing and impression of Eastern Pakistan. The business is a success. The bank of State Industrial Bank proposes in Yunus a very large loan (10 million Taka S) but in 1965 Yunus prefers to give up management with his/her young brothers to leave to prepare a doctorate with the the United States, thanks to a Bourse Fulbright. After a control with the University of Colorado, Yunus is registered in thesis with the Université Vanderbilt, under the direction of Nicholas Georgescu-Roegen, a very original, known economist today in particular for its research on the topic of the “bearable Décroissance”. Once doctor of economy, Yunus obtains a post office in Middle Tennessee State University.

The independence of Bangladesh

In 1971, the war of liberation of Bangladesh bursts. Yunus decides to support the freedom fighters. It takes part in several local groups in favor of independence by joining together funds and conducting a campaign in the media. It publishes also a newspaper named Bangladesh Newsletter. With others bangladais residing at the United States, it creates Bangladesh Citizen' S Committee. Then they create the information center on Bangladesh in New York. Thereafter, Yunus helps of the officers bangladais working with the embassy of Pakistan in the United States to escape from the embassy. He was also an active member of Bangladesh Defense League created by Fazlur Khan with an aim of sending weapons and ammunition to the “Muktibahini” (combatants for freedom). Finally, when the independence of Bangladesh is proclaimed in December 1971, it decides to give up its post of professor of university and returns at his place in June 1972, to put its competences at the service of sound " nouveau" country.

Beginnings of Grameen Bank

After having occupied the post of sub-manager to the Planning Commission of the Government, where it feels completely useless, it becomes responsible for the department of economy of the Université of Chittagong, built in rural environment. According to its words, “a terrible famine struck the country, and I was seized by a giddiness, indicator that all the theories which I taught did not prevent people from dying around me”. It then decides to be interested in the miserable lifestyle of the alive villager near the university.

With students, it creates a group of " research-action" , whose first work will concern agronomic questions especially (establishment of new rice species, in particular). It is only in the one second time which Yunus comes from there to think that most of the problems encountered by the poor peasants of Jobra (the village close to the University of Chittagong) are due to their difficulties of access to capital. Their grounds are generally so small that they cannot constitute a guarantee for the banks. Remain the local usurers, whose loans are offered to interest rates (more than 20% per month) which very often complete to precipitate the borrowers in misery. Thus the young professor of economy comes from there to propose a first " microphone-prêt" (some dollars) with a few tens of inhabitants of the village, by using its own money. The effect of these loans to the ridiculous amount quickly proves very positive on the material situation of the recipients. Moreover, the latter refund without difficulty their backer.

After having tried to imply a commercial bank in the launching of a first program of Microphone-credit, Yunus decides to create its personal program. This one is officially set up in 1977, under the name of “Grameen”. It is an immediate success, in Bangladesh first of all, where the “Grameen” will obtain the statute of banking institution in 1983, then in other countries where the “model” is exported starting from 1989. Today, nearly 300 million people in the world are given directly or not microphone-credits. The Grameen bank in addition considerably diversified its activities since (textile industry, telephony, electrical production by solar energy,…)

Nobel Prize and other rewards

Yunus received many rewards, of which most important distinction of Bangladesh, Independence Day Award and the Nobel Prize of peace. Mohammad Yunus had the very rare privilege to be nominated at the same time for the " Nobel d' Économie" and the Nobel of Peace in 2005 before obtaining finally, jointly with Grameen Bank, the Nobel Prize of peace the October 13rd 2006 for “their efforts to promote economic development and social starting from the base”. Yunus declared that it will use the reward of 1,1 million euro by opening an ophthalmologic hospital, a treatment plant of water like financing a company of agroalimentary in partnership with Danone. It is from now on thing made with the creation of a joint venture bearing the name of Grameen Danone Foods. This company rests on a model of entrepreneuriat social or " social business" who aims at profitability in order to perennialize his social objective and sociétal. A first factory, was built in Bogra in the north of Bangladesh. It produces yoghourts whose nutritive contribution corresponds to the deficit in vitamins and minerals of the children of the area on the basis of study carried out within the population by the Gain governmental organization]. The factory, little automated and of small size, was designed to employ the greatest number of people. The sale of yoghourt is carried out with the door with door by the " Grameen ladies" already in bond with Grameen bank of Muhammad Yunus and eager to improve their incomes. One second factory should see the day in 2008 within the framework of the funds danone.com munities today recipient with Grameen Danone Foods.

Yunus also received many honorary titles.

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