- Economist | June 28, 1940 -
I was born in 1940 in Hathazari, Chittagong, which is now part of Bangladesh. Education was always important to my parents, and with what little we had, they were able to provide an education for their children.
Muhammad Yunus
EducationChildrenParentsBornNow
I founded Grameen Bank to provide loans to those considered traditionally unbankable. Grameen Bank works with the poorest and often illiterate, providing uncollateralized micro-loans for tiny business enterprises by which they can lift themselves and their families out of poverty.
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The Grameen Bank Ordinance with amendments up to 2008 is a beautiful legal structure for the fulfillment of the ideals and objectives of the bank. Any change in this structure will be devastating for the bank.
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Long live Grameen Bank. Let the power of poor women prevail.
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Credit markets were originally created to serve human needs; to provide businesses and individuals with capital to start or expand businesses or fulfill other financial needs.
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Unprecedented technological capabilities combined with unlimited human creativity have given us tremendous power to take on intractable problems like poverty, unemployment, disease, and environmental degradation. Our challenge is to translate this extraordinary potential into meaningful change.
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Nothing is more valuable to people than health care, and by paying, they feel less like beggars and more like 'customers' who can and should demand quality care.
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The Grameen clinics prove that a medical system 'for the poor' can be almost entirely self-supporting, and we hope we can make it fully self sufficient so we can expand it across Bangladesh.
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Health care can be made more affordable for the poor without requiring major new scientific developments, just the smart application of current technologies. We have seen a $25 incubator and diagnostic instruments that are built tough, cheap, and reusable for the developing world.
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We developed microfinance to fight loan sharks - I was telling people don't go to loan sharks - not trying to take advantage and make money for myself. I would be a junior loan shark if I did... It is not a panacea.
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Business is a very beautiful mechanism to solve problems, but we never use it for that purpose. We only use it to make money. It satisfies our selfish interest but not our collective interest.
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Money commands everything because that's our interpretation of capitalism... what kind of world is that? It's a very uncomfortable interpretation of a human being. We have been turned into robots.
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