Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983, fuelled by the belief that credit is a fundamental human right. His objective was to help poor people escape from poverty by providing loans on terms suitable to them and by teaching them a few sound financial principles so they could help themselves. From Professor Yunus’ personal loan of small amounts of money to destitute basketweavers in Bangladesh in the mid-70s, the Grameen Bank has advanced to the forefront of a burgeoning world movement toward eradicating poverty through microlending. Replicas of the Grameen Bank model operate in more than 100 countries worldwide. Professor Yunus is the recipient of numerous international awards for his ideas and endeavors, including the 2006 Nobel Peace Prize.

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