Yunus was named by Fortune Magazine in March 2012 as one of 12 greatest entrepreneurs of the current era. Grameen Bank has since lent more than USD 26.5 billion to those suffering extreme poverty across Bangladesh while maintaining a consistent repayment rate above 98% and has been replicated worldwide. [87] Coercion, peer pressure and physical harassment were reportedly used as loan repayment practices in some specific MFIs. This book delivers on both counts." —Stuart L. Hart, S.C. Johnson Chair of Sustainable Global Enterprise, Cornell University; author, Capitalism at the Crossroads "You Can Hear Me Now describes the human drama of the poor adopting ... The Grameen Bank Act 2013 was approved at a cabinet meeting chaired by Prime Minister Sheikh Hasina[149] on Thursday. [120], For many years, Yunus remained a follower of Hasina's father, Sheikh Mujib, the founding father of Bangladesh. WIMLER Foundation Hong Kong, Ltd. Rm 913, 9/F Hollywood Plaza 610 Nathan Road Mong Kok, Kowloon, Hong Kong (SAR) +852 5191 0902 info@wimler.org. The 2006 Nobel Peace Prize was awarded today to the Grameen Bank of Bangladesh and its founder, Muhammad Yunus, for pioneering microcredit — using loans of tiny amounts to . De l'un des pays les plus défavorisé du monde, le Bangladesh, Muhammad Yunus a suscité une extrordinaire révolution silencieuse qui touche le destin de millions d'individus et passionne les responsables économiques et politiques du ... Fortune's Sheridan . [69], Yunus is a member of the Africa Progress Panel (APP), a group of ten distinguished individuals who advocate at the highest levels for equitable and sustainable development in Africa. Muhammad Yunus 71 comments The 12 greatest entrepreneurs of our time Company: Grameen Bank Advice: Small gifts can equal big impacts. [107] The article claims that this series of trials against Yunus[108] has puzzled billions of people around the world, from the 8.3 million[109] underprivileged[110] women of Grameen Bank[111] to US[112] President Barack Obama. Muhammad Yunus' Social Business-Saving the world with a cup of yogurt August 15, 2008. In 2012, Fortune magazine recognized Professor Yunus as "one of the 12 greatest entrepreneurs of our time." Professor Muhammad Yunus has long envisioned a world free from poverty. [125] The inaugural ceremony of Grameen Phone, the largest telephone service in Bangladesh, took place at Hasina's office on 26 March 1997. [16], In the late 1980s, Grameen started to diversify by attending to underutilized fishing ponds and irrigation pumps like deep tube wells. This category only includes cookies that ensures basic functionalities and security features of the website. One could make an analogy between Yunus' involvement as a nonpolitician and the role that Czech writer Václav Havel played in his country after the overthrow of the Communist regime. Backed by international leaders[143] (e.g., Hillary and Bill Clinton), national leaders (e.g., Sir Fazle Hasan Abed) and 8.3 million Grameen borrowers, Yunus filed an appeal in Bangladesh Supreme Court against the High Court's verdict. government entity, of which incompetent oversight by the state and (potentially unwitting) misrepresentation by Yunus in past resulted in the popular perception of the private ownership. [2] Yunus has received several other national and international honours. [44][45][46] Bangladesh government brought out a commemorative stamp to honour his Nobel Award. [62] Yunus finally announced that he is willing to launch a political party tentatively called Citizens' Power (Nagorik Shakti) on 18 February 2007. The man showed Yunus the ropes of the business and provided some tips on how to get started. [60] He considered entering politics in the later part of that year. The following year he set up a packaging and printing plant and bought the necessary machinery after securing a . Professor Muhammad Yunus was the 2006 recipient of Nobel Peace Prize together with Grameen Bank. He received the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010. Loans to poor people without any financial security had appeared to be an impossible idea. However, Justice Mohammad Momtazuddin Ahmed and Justice Gobinda Chandra Tagore delivered the verdict against Yunus, claiming that Yunus' posting as the MD of Grameen since 1999 was illegal as he had reached the age of 60 by then. [70] ", "Microcredit or Macrowelfare: The Myth of Grameen", "Social Entrepreneurs Impact World Leaders", "Grameen's Muhammad Yunus in court for defamation case", "Microfinance guru Muhammad Yunus faces removal from Grameen Bank", "Bangladeshi Nobel laureate faces fresh legal trouble at home", "Contaminated yoghurt lands Yunus in dock", "Interim report of the Grameen Bank Commission", "Is microfinance a neoliberal fairytale? Trouvé à l'intérieur – Page 116(Fortune Magazine source, next page) With unusual vision, drive, and results, Muhammad Yunus has provided opportunities for literally millions of new entrepreneurs to pursue their dreams, either on their own, or working for Grameen Bank ... The organization "AsizWeek" (Hong Kong) chose him as one of twenty genius Asians. But opting out of some of these cookies may affect your browsing experience. The recipient of 61 honorary degrees from universities across 24 countries, he has also received 136 awards from 33 . [108], Bangladesh government launched the first trial against Yunus in December 2010, one month after the release of Caught in Micro Debt,[133] a documentary by Tom Heinemann. [citation needed] On Google+, Yunus is one of the most followed people worldwide, with over two million followers. Screened on Norwegian television on 30 November 2010, the film broadcast the allegation that Yunus stashed approximately $100 million[134] in 1996 into Grameen Kalyan, a sister company of Grameen Bank. Nobel Laureate Professor Muhammad Yunus is the founder of Grameen Bank, pioneering the concepts of microcredit and social business, founding more than 50 Social Business companies in Bangladesh. Grameen has loaned $17.4 billion to 8.7 million . There is no ideology here". [93] At the same time the organisation enjoyed a tax-free status for a period of several years which now has been removed. We support programs for Capacity Building and Empowerment of migrant communities. Become a WIMLER Partner Today. [24] In time, the Grameen initiative grew into a multi-faceted group of profitable and non-profit ventures, including major projects like Grameen Trust and Grameen Fund, which runs equity projects like Grameen Software Limited, Grameen CyberNet Limited, and Grameen Knitwear Limited,[25] as well as Grameen Telecom, which has a stake in Grameenphone (GP), the biggest private phone company in Bangladesh. Updated: Oct 24, 2021, 11.23 PM IST. He talks to Fortune about where tech might take the poor. Trouvé à l'intérieur – Page 65... Yunus Creating a World without Poverty: Social business and the future of capitalism – Muhammad Yunus Building Social Business: The new kind of capitalism that serves humanity's most pressing needs – Muhammad Yunus The Fortune at ... [12] He also published the Bangladesh Newsletter from his home in Nashville. Our solutions are based on the UN Sustainable Development Goals targeting a combination of different goals in each specific project, while always contributing to Professor Yunus’ vision of “A World of Three Zero’s”: Zero Poverty, Zero Unemployment and Zero Net Carbon Emissions. Much to Yunus' surprise, the basket weavers actually paid off the loans -- Trouvé à l'intérieur – Page 75'Muhammad Yunus Day' to honor his contribution in uplifting poverty through his micro-finance initiative.31 He was ... of the current era by Fortune Magazine in 2012.33 He has received 50 honorary doctorate degrees from universities of ... Calculations of actual interest rate vary, but one estimate puts average Grameen rates at about a 23% interest rate (comparable to the inflation rate). WIMLER Foundation Hong Kong, Ltd. Rm 913, 9/F Hollywood Plaza 610 Nathan Road Mong Kok, Kowloon, Hong Kong (SAR) +852 5191 0902 info@wimler.org. Muhammad Yunus is a Bangladeshi economist who was awarded the Nobel Peace Prize in 2006. These cookies do not store any personal information. Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983, fueled by the belief that credit is a fundamental human right. Muhammad Yunus may not have invented microfinance, but he is the man most closely associated with it in the modern world, writes Andrew Jack. On 9 March, Attorney General Mahbubey Alam revealed the government's attitude when he said, "Prime Minister Sheikh Hasina should have been awarded the Nobel Peace Prize…" He went on to challenge the wisdom of the Nobel committee for not awarding the prize to his master, Hasina, for the CHT accord. The NEW YORK, April 4, 2012 /PRNewswire/ -- Professor Muhammad Yunus, founder of Grameen America and 2006 Nobel Peace Prize recipient, was recognized by Fortune Magazine for his innovative efforts to spur a global movement toward microlending. Captain Babar Azam led by example as Pakistan beat India in a World Cup match for the first time ever with a . But this is not to say that give me 1,000 dollars, I will make my own fortune. At this event, 50 heads of state and high-level officials from 137 nation-states gathered in Washington, DC, to discuss solutions to poverty. Yunus and the Grameen Bank were jointly awarded the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below". [52] [113] Likening Hasina's[114] political vendetta against Yunus[115] to a modern-day replay[116] of the conflict[117] between Archimedes and General Marcellus, the article predicts that the "banker to the poor"[21] may face a fate[118] similar to the father of mathematics for asking Hasina[119] not to disturb the Grameen Bank. Backed by nine boards of directors, 22 thousand employees,[140] and 8.3 million Grameen borrowers,[141] Yunus defied the government order, returned to Grameen's headquarters in Dhaka, and lodged an appeal at Dhaka High Court against the decision. FactSnippet No. [75] This inquiry prevented Muhammad Yunus from participating in the World Economic Forum. Trouvé à l'intérieur – Page 290World Bank and Fortune magazine. Ministry for Economy, Trade and ... CHAPTER 12 1 M Yunus with A Jolis, Banker to the Poor: The Autobiography of Muhammad Yunus of the Grameen Bank, Aurum Press, London, 1998. The Role of Microcredit in ... [3], In 2008, he was rated number 2 in Foreign Policy magazine's list of the 'Top 100 Global Thinkers'.[4]. "Globally, micro-finance accounts for at least $60 billion in loans annually and has reached 135 million people, according to the World Bank one . And I was feeling terrible that here I teach elegant theories of economics, and those theories are of no use at the moment with the people who are going hungry. For his constant innovation and entrepreneurship, the Fortune Magazine named Professor . Trouvé à l'intérieurI remember the day I had the good fortune of meeting Muhammad Yunus as if it were yesterday. It happened during one of his visits to Brazil, this time invited by the Federal University of Paraná, for an event that was also sponsored by ... He and the Grameen Bank he founded won the Nobel Peace Prize in 2006 .
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