In an era where Globalisation has increased the disparity among rich and poor, we have Prof.Mohammed Yunus who devoted his life for the upliftment of poor through a unique scheme called Microcredit for poor...His idea has been replicated with good degree of success across the globe...Our very own Self help groups are based on his idea...Here's the profile of the man himself.....
Professor Dr. Muhammad Yunus (born June 28, 1940), is a Bangladeshi banker and economist. He is the developer and founder of the concept of microcredit, the extension of small loans to entrepreneurs too poor to qualify for traditional bank loans. Yunus is also the founder of Grameen Bank. In 2006, Yunus and the bank were jointly awarded the Nobel Peace Prize, for their efforts to create economic and social development from below. Yunus himself has received several other international honors, including the World Food Prize. He is the author of Banker to the Poor.
In 1976, Yunus founded the Grameen Bank (Grameen means "of rural area", "of village") to make loans to poor Bangladeshis. Since then the Grameen Bank has issued more than US$ 5.1 billion to 5.3 million borrowers. To ensure repayment, the bank uses a system of "solidarity groups". These small informal groups apply together for loans and its members act as co-guarantors of repayment and support one another's efforts at economic self-advancement. As it has grown, the Grameen Bank has also developed other systems of alternate credit that serve the poor. In addition to microcredit, it offers housing loans as well as financing for fisheries and irrigation projects, venture capital, textiles, and other activities, along with other banking services such as savings.
Mohammed Yunus, the man truly deserves Nobel Peace Prize 2006...
No comments:
Post a Comment