PROFESSOR MUHAMMAD YUNUS (Related with Microfinance) Professor Muhammad Yunus is the founder and Managing Director of Grameen Bank which currently operates 2,564 branches providing credit to 8.29 million poor people residing in 81,367 villages in Bangladesh. He originated the concept of Grameen Bank, i.e. banking without collateral for the poorest of the poor. Professor Yunus studied economics in the Vanderbilt University, USA and received his Ph.D. in Economics in 1970. He taught economics in the Middle Tennessee University from 1969 to 1972. Returning to Bangladesh in 1972, he joined the University of Chittagong as Head of the Economics Department. He started the Grameen Bank Project in 1976. It was transformed into a formal bank in 1983. The Grameen Bank offers small loans for self employment for the rural poor, especially poor women.
Posted on: Sun, 01 Sep 2013 08:10:41 +0000
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