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76-508: The first Microcredit Summit was held February 2–4, 1997 in Washington, DC. The first summit had approximately 3,000 in attendance from 137 countries. Hillary Clinton gave the keynote speech at the first Summit. The outcome of the first Summit was the launch of a "campaign" to reach 100 million of the world's poorest families, especially the women of those families, with credit for self-employment and other financial and business services by

152-769: A Fulbright scholarship to study in the United States. He obtained his PhD in economics from the Vanderbilt University Graduate Program in Economic Development (GPED) in 1971. From 1969 to 1972, Yunus was the assistant professor of economics at Middle Tennessee State University in Murfreesboro . During the Bangladesh Liberation War in 1971, Yunus founded a citizen's committee and ran

228-625: A 23% interest rate (comparable to the inflation rate). Also see what annual interest do NGOs earn from a fixed initial capital? In December 2010, Grameen Bank was quickly cleared by the Norwegian government of all allegations surrounding misused or misappropriated funds. Yet, in March 2011, the Bangladeshi government launched a three-month investigation of all Grameen Bank's activities. This inquiry prevented Muhammad Yunus from participating in

304-590: A Commissioner for the Broadband Commission for Digital Development , a UN initiative which seeks to use broadband internet services to accelerate social and economic development. In March 2016, he was appointed by United Nations Secretary-General Ban Ki-moon to the High-Level Commission on Health Employment and Economic Growth, which was co-chaired by presidents François Hollande of France and Jacob Zuma of South Africa. Following

380-529: A Grameen Phone employee. However, this long relationship ended in 2007 after Yunus disclosed his intention to form a political party, Nagorik Shakti . The Awami League government of Sheikh Hasina campaigned against Grameen and Yunus. The New York Times reported, "Her actions appear to be retaliation for Mr. Yunus's announcement in 2007 that he would seek public office, even though he never went through with his plans". According to Times of India , one other factor contributed to her decision against Yunus:

456-516: A collective global goal. The Campaign represents more than a single organization and is a social movement that aims to advance the microfinance field and foster a productive learning community. One of the best forums for fruitful conversations among many types of microcredit practitioners from around the world. By December 31, 2010, the Campaign counted more than 3,600 microfinance institutions that reported reaching more than 205 million clients with

532-617: A context where some people began to question the effectiveness of microfinance, prompted by the actions of some for-profit microfinance institutions (MFIs) in India and Mexico. Coercion, peer pressure and physical harassment were reportedly used as loan repayment practices in some specific MFIs. Commercialisation of microcredit prompted Yunus to state that he "never imagined that one day microcredit would give rise to its own breed of loan sharks ." The lure of profits attracted some for-profit MFIs to hold initial public offerings (IPOs), including

608-935: A current loan. Of these institutions in the developing world, 1,009 are in Sub-Saharan African, 1,746 are in Asia and the Pacific, 647 are in Latin America and the Caribbean with the remainder (250) in the Middle East and North Africa (MENA) and the industrialized regions of (1) North America and Western Europe and (2) Eastern Europe and Central Asia. According to the State of the Microcredit Summit Campaign Report 2012 , out of

684-530: A formal network of supporters known as "Friends of Grameen". On 15 February 2011, the Finance Minister of Bangladesh , Abul Maal Abdul Muhith , declared that Yunus should "stay away" from Grameen Bank while it is being investigated. On 2 March 2011, Muzammel Huq, a former Bank employee, whom the government had appointed chairman in January, announced that Yunus had been fired as managing director of

760-421: A fresh investigation into Yunus's activities and financial transactions in his later years as managing director of Grameen, but people saw the move as an attempt to destroy his image. The prime minister also alleged that Yunus had received his earnings without the necessary permission from the government, including his Nobel Peace Prize earnings and book royalties. On 4 October 2013, Bangladesh's cabinet approved

836-579: A graft case filed by the Anti-Corruption Commission (ACC) just four days after getting acquittal for the labour violations case. For many years, Yunus remained a follower of Hasina's father, Sheikh Mujib , the country's founding father. While, teaching at Middle Tennessee State University , Yunus founded the Bangladesh Citizens' Committee (BCC) as a response to West Pakistan's aggression against Bangladesh. After

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912-508: A letter that Yunus had been removed from Grameen, citing old age. Backed by nine boards of directors, 22 thousand employees, and 8.3 million Grameen borrowers, Yunus defied the government order, returned to Grameen's headquarters in Dhaka, and lodged an appeal at Dhaka High Court against the decision. However, Justice Mohammad Momtazuddin Ahmed and Justice Gobinda Chandra Tagore delivered

988-496: A loan from the government Janata Bank to lend to the poor in Jobra. The institution continued to operate, securing loans from other banks for its projects. By 1982, it had 28,000 members. On 1 October 1983, the pilot project began operation as a full-fledged bank for poor Bangladeshis and was renamed Grameen Bank ("Village Bank"). By July 2007, Grameen had issued US$ 6.38 billion to 7.4 million borrowers. To ensure repayment,

1064-450: A military coup. Meanwhile, Yunus turned down his request to become the nation's fourth Chief Advisor after Khaleda Zia 's term ended. Yunus, however, suggested the general pick Fakhruddin Ahmed for the job. Fakhruddin took office on 11 January 2007 and made it clear on his first day that he intended not only to arrange a free and fair election but also to clean up corruption. While Khaleda and Hasina criticised Fakruddin and claimed that it

1140-490: A mission to enter the political arena in his nation in hope of changing its identity from "bottomless basket" to "rising tiger". However, on 3 May, Yunus published a third open letter and put his political ambitions to rest. The Bangladesh government launched the first trial against Yunus in December 2010, alleging that in 1996 he had transferred approximately $ 100 million to a sister company of Grameen Bank. Yunus denied

1216-415: A political party to establish political goodwill, proper leadership and good governance . In the letter, he called on everyone to briefly outline how he should go about the task and how they can contribute to it. Yunus finally announced that he is willing to launch a political party tentatively called Nagorik Shakti ( lit.   ' Citizens' Power ' ) on 18 February 2007. There was speculation that

1292-634: A position he held until 2018. Previously, he was a professor of economics at Chittagong University in Bangladesh. He published several books related to his finance work. He is a founding board member of Grameen America and Grameen Foundation , which support microcredit. Yunus also served on the board of directors of the United Nations Foundation , a public charity to support UN causes, from 1998 to 2021. In 2022, he partnered with Global Esports Federation to build esports for

1368-612: A resource center for related initiatives. The centre's activities include poverty eradication campaigns, research and publications, support for social business start-ups , organizing the Global Social Business Summit, and developing academic programs on social business with international universities. Chittagong University The University of Chittagong (also known as Chittagong University , abbreviated as CU ; Bengali : চট্টগ্রাম বিশ্ববিদ্যালয় , romanized :  Caṭṭagrāma Biśbabidyālaẏa )

1444-534: A second petition. U.S. Senator John Kerry expressed his support to Yunus in a statement on 5 March 2011 and declared that he was "deeply concerned" by this affair. The same day in Bangladesh, thousands of people protested and formed human chains to support Yunus. The High Court hearing on the petitions, was planned for 6 March 2011 but postponed. On 8 March 2011, the Court confirmed Yunus's dismissal. The allegations against Muhammad Yunus and Grameen Bank were made in

1520-414: A series of trials against Yunus. The former put the latter on trial in 2010 and ultimately removed him from Grameen Bank , citing his age. In 2013, he was tried a second time, because he had supposedly received earnings without the necessary government permission, including his Nobel Peace Prize earnings and royalties from his book sales. The series of trials against Yunus puzzled figures worldwide, from

1596-472: A stake in Grameenphone (GP), the biggest private phone company in Bangladesh. From its start in March 1997 to 2007, GP's Village Phone ( Polli Phone ) project had brought cell-phone ownership to 260,000 rural poor in over 50,000 villages. In 1974 we ended up with a famine in the country. People were dying of hunger and not having enough to eat. And that's a terrible situation to see around you. And I

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1672-563: A state-backed smear campaign that accused him of being un-Islamic and promoting homosexuality, after he signed a joint statement criticising the prosecution of gay people in Uganda in 2012 with three other nobel laureates. On 27 January 2011, Yunus appeared in court in a food-adulteration case filed by the Dhaka City Corporation (DCC) Food Safety Court, accusing him of producing an "adulterated" yogurt whose fat content

1748-494: Is a public research university located in Hathazari , Chattogram , Bangladesh . It was established on 18 November 1966. It is one of the oldest universities in Bangladesh. Its 2,312.32 acres (935.76 ha) campus is the largest among universities in Bangladesh. It is one of the four autonomous by the act universities of Bangladesh. Chittagong University's collection of about 350,000 books, and over 40,000 bound journals

1824-466: Is also an auditorium in the library building. Photocopying facility is available in the library. The library also has facilities for daily reading of national and regional newspapers. The library is currently under automation. Chittagong University Medical Center is located near the law faculty of the university . It works to provide free medical care and pathological examination for university students, faculty and staff. Apart from this, free medical care

1900-559: Is housed in a 56,700 square feet (5,270 m ) library built in 1990. Chittagong University Museum was established in 1973 with artifacts from the History Department including fossils found amongst the Nasirabad hills. It has subsequently accumulated an extensive collection of historical artifacts and painting. In 2016, The Daily Star donated a Chittagong history archive to the museum. The university shuttle train

1976-530: Is operated by Bangladesh Railway eastern division and monitored by university authority. Trains leave Chattogram railway station and Sholoshohor railway station , and city-bound trains leave Chattogram University railway station . Chittagong University shuttle train have a long history of graffiti art but there were allegations it was being used by rival political groups to assert influence over train compartments. After April 2011 clashes between five compartment-based gangs left at least eight students injured,

2052-636: Is the largest library in Chittagong which is one of the richest libraries in the country. The current collection in this library is around 3.5 lakh  which includes rare books, journals, audio-visual material, manuscripts and Braille books for the blind.  With the inauguration of the university in November 1966, the library started with only 300 books.  The library moved to its current building in November 1990. The three-storied library has separate rooms for students, researchers and teachers. There

2128-542: The Chittagong District of Bengal Presidency (now in Bangladesh). His father was Haji Muhammad Dula Mia Soudagar, a jeweller, and his mother was Sufia Khatun. His early childhood was spent in the village. In 1944, his family moved to the city of Chittagong , and he moved from his village school to Lamabazar Primary School. By 1949, his mother was afflicted with psychological illness. Later, he passed

2204-637: The Gram Sarkar ( lit.   ' Village government ' ) programme. Introduced by President Ziaur Rahman in the late 1970s, the government formed 40,392 village governments as a fourth layer of government in 2003. On 2 August 2005, in response to a petition by Bangladesh Legal Aid and Services Trust (BLAST), the High Court declared village governments illegal and unconstitutional. His concept of microcredit for supporting innovators in multiple developing countries also inspired programmes such as

2280-571: The Rohingya genocide in 2016–2017, Yunus urged Myanmar to end violence against Rohingya Muslims . In 1996, Muhammad Yunus served as an advisor to the caretaker government led by former Chief Justice Muhammad Habibur Rahman . He was responsible for overseeing the Ministry of Primary and Mass Education , the Ministry of Science and Technology , and the Ministry of Environment and Forests . In early 2006, Yunus, along with other members of

2356-671: The University of Dhaka and the founder of The Center for Mass Education in Science (CMES), which brings science education to adolescent girls in villages. His other brother Muhammad Jahangir (d. 2019) was a television presenter and a social activist in Bangladesh. The Yunus Centre, located in Dhaka , Bangladesh, is a think tank focused on social business, poverty alleviation, and sustainability. Founded in 2008 and chaired by Dr Yunus, it promotes his philosophy of social business and serves as

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2432-852: The World Economic Forum . In January 2011, Yunus appeared in court in a defamation case filed by a local politician from a minor left-leaning party in 2007, complaining about a statement that Yunus made to the AFP news agency , "Politicians in Bangladesh only work for power. There is no ideology here". At the hearing, Yunus was granted bail and exempted from personal appearance at subsequent hearings. These investigations fueled suspicion that many attacks might be politically motivated , due to difficult relations between Sheikh Hasina and Yunus since early 2007, when Yunus created his own political party, an effort he dropped in May 2007. In 2013, he faced

2508-449: The 8.3 million underprivileged women served by Grameen Bank to U.S. President Barack Obama . Vikas Bajaj wrote on 7 November 2013: The government of Bangladesh has played its trump card in its long-running campaign against Grameen Bank and its founder Muhammad Yunus. Last week, legislators passed a law that effectively nationalizes the bank, which pioneered the idea of making small loans to poor women, by wresting control of it from

2584-469: The 8.4 million rural women that own a majority of its shares. On 1 January 2024, a court in Bangladesh sentenced Yunus to a six-month prison term, along with three employees from Grameen Telecom for labor law violations. However, the court granted bail pending appeals. Amnesty International declared Yunus's conviction a "blatant abuse" of the justice system. The conviction was overturned on 7 August 2024 following an appeal. He has been acquitted in

2660-483: The Appellate Division headed by Chief Justice ABM Khairul Haque heard the appeal on 15 March 2011 and upheld Yunus's removal by the government. On 2 August 2012, Sheikh Hasina approved a draft of "Grameen Bank Ordinance 2012" to increase government control over the bank. That power resided with the bank's directors—nine poor women who were elected by 8.3 million Grameen borrowers. Hasina also ordered

2736-734: The Bangladesh Information Center, with other Bangladeshis in the United States, to raise support for liberation. He also published the Bangladesh Newsletter from his home in Nashville . After the War, he returned to Bangladesh and was appointed to the government's Planning Commission headed by Nurul Islam. However, he found the job boring and resigned to join Chittagong University as head of

2812-632: The Bank. However, Bank General Manager Jannat-E Quanine issued a statement that Yunus was "continuing in his office" pending review of the legal issues surrounding the controversy. In March 2011, Yunus petitioned the Bangladesh High Court challenging the legality of the decision by the Bangladeshi Central Bank to remove him as managing director of Grameen Bank. The same day, nine elected directors of Grameen Bank filed

2888-611: The Department of Economics at Dhaka University and completed his BA in 1960 and MA in 1961. After his graduation, Yunus joined the Bureau of Economics as a research assistant to the economics researches of Nurul Islam and Rehman Sobhan . Later, he was appointed lecturer in economics in Chittagong College in 1961. During that time, he also set up a profitable packaging factory on the side. In 1965, he received

2964-540: The Economics department. After observing the famine of 1974 , he became involved in poverty reduction and established a rural economic programme as a research project. In 1975, he developed a Nabajug Tebhaga Khamar ( lit.   ' New Era Three-share Farm ' ) which the government adopted as the Packaged Input Programme. To make the project more effective, Yunus and his associates proposed

3040-539: The Grameen Bank he founded. ... The success of the Grameen Bank has created optimism about the viability of banks engaged in extending micro-credit to the poor". The inaugural ceremony of Grameen Phone, Bangladesh's largest telephone service, took place at Hasina's office on 26 March 1997. Using Grameen Phone, Hasina made the first call to Thorbjorn Jagland , the then-Norwegian prime minister. When her conversation ended, she received another call, from Laily Begum,

3116-571: The Grameen's social business model has gone from being theory to an inspiring practice adopted globally by leading universities, entrepreneurs, social business and corporations. In July 2007, in Johannesburg , South Africa, Nelson Mandela , Graça Machel and Desmond Tutu convened a group of world leaders "to contribute their wisdom, independent leadership and integrity to tackle some of the world's toughest problems." Nelson Mandela announced

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3192-505: The Info lady Social Entrepreneurship Programme. In 1976, during visits to the poorest households in the village of Jobra near Chittagong University, Yunus discovered that very small loans could make a disproportionate difference to a poor person. Village women who made bamboo furniture had to take usurious loans to buy bamboo, and repay their profits to the lenders. Traditional banks did not want to make tiny loans at reasonable interest to

3268-548: The Nobel Peace Prize. Hasina thought she would win the Nobel Peace Prize for signing the 1997 Chittagong Hill Tracts peace treaty . On 9 March, Attorney General Mahbubey Alam expressed 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. On 11 January 2007, Army General Moeen U Ahmed staged

3344-491: The United States. Many microcredit projects retain Grameen's emphasis of lending to women. More than 94% of Grameen loans have gone to women, who suffer disproportionately from poverty and who are more likely than men to devote their earnings to their families. For his work with Grameen, Yunus was named an Ashoka: Innovators for the Public Global Academy Member in 2001. According to Rashidul Bari,

3420-562: The Zeiligers as part of their art project. As of 2024, Chittagong University has 54 departments under 9 faculties. Chittagong University currently has 7 institutes The university currently has 6 research centers. There are currently 26 educational institutions under Chittagong University: Govt College Government Medical College Private Medical College Medical Institute College of Nursing Dental College Institute Other Chittagong University Central Library

3496-427: The allegations and he was found innocent by the Norwegian government. Yunus became subject to legal proceedings over three criminal cases. A criminal defamation case was filed against Yunus for criticising politicians in 2007. A food inspector filed another case against Yunus, alleging that yogurt manufactured by Grameen-Danone was adulterated . The final blow came on 3 March 2011. Bangladesh Bank informed Grameen in

3572-561: The army supported a move by Yunus into politics. On 3 May, however, Yunus declared that he had decided to abandon his political plans following a meeting with the head of the caretaker government , Fakhruddin Ahmed . Amid the Student–People's uprising in Bangladesh, Yunus expressed support for the students and his distaste of the current government, and in August 2024, after the resignation of Sheikh Hasina and her departure to India, it

3648-515: 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. In the late 1980s, Grameen started to diversify by attending to underutilized fishing ponds and irrigation pumps like deep tube wells. In 1989, these diversified interests started growing into separate organisations. The fisheries project became Grameen Motsho ("Grameen Fisheries Foundation") and

3724-434: The circulation of Institutional Action Plans (IAPs) to thousands of practitioners with a request for submission of their most recent data; (2) a phone campaign to hundreds of the largest MFIs in the world to encourage submission; (3) a verification process seeking third-party corroboration of the data submitted by the largest MFIs; (4) data compilation and analysis; and (5) the writing of the report. Note: The data presented in

3800-454: The civil society including Rehman Sobhan , Muhammad Habibur Rahman , Kamal Hossain , Matiur Rahman , Mahfuz Anam and Debapriya Bhattacharya , participated in a campaign for honest and clean candidates in national elections. He considered entering politics in the later part of that year. On 11 February 2007, Yunus wrote an open letter, published in the Bangladeshi newspaper Daily Star , where he asked citizens for views on his plan to float

3876-491: The development movement. Following the overthrow of Sheikh Hasina , President Mohammed Shahabuddin gave Yunus a mandate to form an interim government , acceding to calls from student leaders for his appointment. His government has appointed a Constitutional Reform Commission to draft a revision to the Constitution of Bangladesh and has pledged the convocation of a constituent assembly . His acquittal on appeal

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3952-580: The draft of a new law that would give the country's central bank greater control over Grameen Bank, raising the stakes in the long-running dispute. The Grameen Bank Act 2013 was approved at a cabinet meeting chaired by Prime Minister Sheikh Hasina and was passed by parliament on 7 November 2013. It replaced the Grameen Bank Ordinance, the law that underpinned the creation of Grameen Bank as a specialised microcredit institution in 1983. The New York Times reported in August 2013: Since then,

4028-417: The final report comes mainly from individual institutions and excludes network institutions to prevent double counting. Muhammad Yunus Muhammad Yunus (born 28 June 1940) is a Bangladeshi economist, entrepreneur, politician, and civil society leader, who has been serving as Chief Adviser (interim head of government ) of the interim government of Bangladesh since 8 August 2024. Yunus

4104-508: The following day of charges of labour code violations, which were viewed as politically motivated , facilitated his return to the country and appointment. His name was listed in The 500 Most Influential Muslims in 2024. The third of nine children, Muhammad Yunus was born on 28 June 1940 to a Bengali family of Muslim Saudagars in the village of Bathua, by the Kaptai road at Hathazari in

4180-569: The formation of this new group, The Elders , in a speech he delivered on the occasion of his 89th birthday. Yunus attended the launch of the group and was one of its founding members. He stepped down as an Elder in September 2009, stating that he was unable to do justice to his membership due to the demands of his work. Yunus is a member of the Africa Progress Panel (APP), a group of ten distinguished individuals who advocate at

4256-404: The garment industry amid disruptions caused by the unrest prior to his appointment. The second Sheikh Hasina government, which was dictatorial and authoritarian at best, announced a review of Grameen Bank activities on 11 January 2011. In February 2011, several international leaders, such as Mary Robinson , stepped up their defence of Yunus through a number of efforts, including the founding of

4332-468: The government has started an investigation into the bank and is now planning to take over Grameen—a majority of whose shares are owned by its borrowers—and break it up into 19 regional lenders. Yunus belongs to a Muslim family and continues to actively display a normative orthodox Sunnite theological creed . He encourages the public to engage in Dua directly to Allah , whom Yunus publicly recognises as

4408-766: The highest levels for equitable and sustainable development in Africa. Every year, the Panel releases a report, the Africa Progress Report, that outlines an issue of immediate importance to the continent and suggests a set of associated policies. In July 2009, Yunus became a member of the SNV Netherlands Development Organisation International Advisory Board to support the organisation's poverty reduction work. Since 2010, Yunus has served as

4484-490: The home and family members of Abu Sayed . He also visited injured student protesters in the Rangpur Medical College . Following communal violence after Hasina's resignation, Yunus threatened to resign if the violence continued and vowed to crack down on conspirators of the attacks. As Chief Adviser, Yunus has pledged to continue providing humanitarian aid to Rohingya refugees in Bangladesh and support

4560-403: The irrigation project became Grameen Krishi ("Grameen Agriculture Foundation"). 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, as well as Grameen Telecom , which has

4636-631: The largest Indian MFI, SKS Microfinance , which held an IPO in July 2010. In September 2010, Yunus criticised the IPO; in a debate with SKS founder Vikram Akula during the Clinton Global Initiative meeting, he said, "Microcredit is not about exciting people to make money off the poor. That's what you're doing. That's the wrong message completely." Calculations of actual interest rate vary, but one estimate puts average Grameen rates at about

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4712-409: The last 11 years. Of the 137.5 million poorest clients, 122.5 million of them (89 percent) are being served by the 85 largest individual institutions and networks reporting to the Campaign, all with 100,000 or more poorest clients. The Microcredit Summit Campaign has collected data for 14 years and began verifying that data in 2000. The process of identifying access to microfinance consists of (1)

4788-485: The matriculation examination from Chittagong Collegiate School ranking 16th of 39,000 students in East Pakistan . During his school years, he was an active Boy Scout , and travelled to West Pakistan and India in 1952, and to Canada in 1955 to attend Jamborees . Later, while Yunus was studying at Chittagong College , he became active in cultural activities and won awards for drama. In 1957, he enrolled in

4864-743: The outbreak of the war of liberation , the BCC selected Yunus to become editor of its Bangladesh News Letter . Inspired by the birth of Bangladesh in 1971, Yunus returned home in 1972. The relationship continued after Mujib's death. Yunus maintained a professional relationship with Hasina. Yunus appointed Hasina—along with U.S. First Lady Hillary Clinton —as co-chair of a microcredit summit held 2–4 February 1997. At this event, 50 heads of state and high-level officials from 137 nations gathered in Washington, DC, to discuss solutions to poverty. At this event, Hasina had nothing but praise for Yunus. In her statement she praised, "the outstanding work done by Professor Yunus and

4940-456: The poor due to high risk of default. But Yunus believed that, given the chance, the poor will not need to pay high interest on the money, can keep any profits from their own labour, and hence microcredit was a viable business model . Yunus lent US$ 27 of his money to 42 women in the village, who made a profit of BDT 0.50 (US$ 0.02) each on the loan. Thus, Yunus is credited with the idea of microcredit. In December 1976, Yunus finally secured

5016-509: The supreme source of assistance and support, and as the master of Divine Decree . In 1967, while Yunus attended Vanderbilt University , he met Vera Forostenko, a student of Russian literature at Vanderbilt University and daughter of Russian immigrants to Trenton, New Jersey , United States. They were married in 1970. Yunus's marriage with Vera ended within months of the birth of their baby girl, Monica Yunus , in 1979 in Chittagong, as Vera returned to New Jersey claiming that Bangladesh

5092-470: The total number of clients reached in 2010, 137.5 million were among the poorest and 82.3 percent (113.1 million) were women. The growth in the number of very poor women reached has gone from 10.3 million at the end of 1999 to 113.1 million at the end of 2010. This is a 1,001 percent increase in the number of poorest women reached from December 31, 1999 to December 31, 2010. The increase represents an additional 109.9 million poorest women receiving microloans in

5168-408: The university expelled 11 students and banned all types of compartment-based organisational activities, including sticking posters, leaflets and graffiti on the trains. Eleven years after that incident, German artist Lukas Zeilinger, accompanied by Livia, his wife, and Arup Barua, a teacher at the Department of Dramatics of the university, painted the carriages once again. The project was self-funded by

5244-524: The verdict against Yunus, claiming that Yunus's posting as the MD of Grameen since 1999 was illegal as he had reached the age of 60 by then. Backed by international leaders (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. The full bench of

5320-551: The year 2005. In January 2009, to coincide with the release of the State of the Microcredit Summit Campaign Report 2009 (SOCR), the Microcredit Summit Campaign announced that over 100 million of the world's poorest families had received a microloan. The Campaign was founded by Muhammad Yunus , Sam Daley-Harris , and John Hatch on a principle that emphasized a citizen-led approach of establishing and meeting

5396-577: Was announced that Yunus would be chief adviser of the interim government . Muhammad Yunus was appointed as the transitional leader of the interim government on 7 August 2024 by president Mohammed Shahabuddin . On 8 August 2024, he took the oath and has been serving as the Chief Advisor of the 2024 Bangladesh interim government . After the oath he visited injured peoples in Dhaka Medical College . On 10 August 2024, he visited

5472-755: Was awarded the Nobel Peace Prize in 2006 for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance . Yunus has received several other national and international honors, including the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010. In 2012, Yunus became Chancellor of Glasgow Caledonian University in Scotland ,

5548-571: Was below the legal minimum. This yogurt is produced by Grameen Danone , a social business joint venture between Grameen Bank and Danone that aims to provide opportunities for street vendors who sell the yogurt and to improve child nutrition with the nutrient-fortified yogurt. According to Yunus' lawyer, the allegations are "false and baseless". Yunus faced 174 lawsuits in Bangladesh, 172 of which were civil cases. Allegations included labour law violations, corruption, and money laundering, which Yunus alleged were politically motivated. Hasina launched

5624-477: 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. So I wanted to see if as a person, as a human being, I could be of some use to some people. – Muhammad Yunus while talking about reason behind creating Grameen Bank The success of the Grameen microfinance model inspired similar efforts in about 100 developing countries and even in developed countries including

5700-475: Was not a good place to raise a baby. Monica Yunus became an operatic soprano based in New York City. Yunus later married Afrozi Yunus, who was then a researcher in physics at Manchester University . She was later appointed as a professor of physics at Jahangirnagar University . Their daughter Deena Afroz Yunus was born in 1986. Yunus's brother Muhammad Ibrahim is a former professor of physics at

5776-534: Was not his job to clean up corruption, Yunus expressed his satisfaction. In an interview with the AFP news agency, Yunus remarked "There is no ideology here." Hasina had a harsh reaction to Yunus's comments, calling him a "usurer who has not only failed to eradicate poverty but has also nurtured poverty. " This was Hasina's first public statement against Yunus. Later Yunus announced the name of this prospective political party, Nagorik Shakti (Citizens' Power), saying he had

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