Nobel Peace Prize 2006

Muhammad Yunus

He was born on 28 June 1940 from a family in the village of Bathua, in a province of British India.

Muhammad Yunus is remembered all the world for his Nobel Peace Prize engaged in the poor men economic in 2006 and he also invented the “Microcredit”, called “Grameen Bank”.

His family was Muslim, his father was a jeweller and his mother was afflicted by psychological illines.

He studied at Chittagong Collegiate School and during his youth he was a good Boy Scout.

In 1957 he enrolled in Economics department of  Dhaka University.

Then, he became research assistant  to the economical researches of Professor Nurul Islam and Rehman Sobhan.

In 1961 he was appointed as lecturer in economics.

In 1976, while he was in a poor men village of Jobra, near his university, he had pity on them and he decided to help them.

So he invented the Grameen Bank designed to borrow some money at poor men.

The Grameen Bank has had a very big success, lending about 5 milliards dollars at five millions of people.

To guarantee the refound, poor men, help each other  joining in groups, called “Solidarity groups”,  where they support each others for the economic progress.

It also offers  loans for little houses .

The Gameen Bank is applied in over twenty developing countries and the ninety per cent of loans are destinated at women; in fact women use this money for their family’s maintenance.

Muhammad Yunus became the director of Grameen Bank in 1983 and he has receveid seventeen prizes since 1978 to 2008.

by Giuseppe and Aurelio

http://en.wikipedia.org/wiki/Muhammad_Yunus