Muhammad Yunus
| Muhammad Yunus | |
|---|---|
.jpg) Muhammad Yunus - 2013 (portrait).jpg Yunus in 2013 | |
| Native name | মুহাম্মদ ইউনূস |
| Born | 28 June 1940 Hathazari, Chittagong, Bengal Presidency (now Bangladesh) |
| 🏡 Residence | Dhaka, Bangladesh |
| 🏳️ Nationality | Bangladeshi |
| 🏳️ Citizenship | Bangladesh |
| 🏫 Education |
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| 💼 Occupation | Economist, Entrepreneur, Civil society leader, Politician, Professor |
| Known for | Founder of Grameen Bank, Microcredit, Social Business, Nobel Peace Prize |
| Notable work |
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| 🏛️ Political party | Independent (2007–present) |
| 👩 Spouse(s) |
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| 👶 Children | Monica Yunus, Deena Yunus |
| 👴 👵 Parent(s) | Not publicly disclosed |
| 🏅 Awards |
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| 🌐 Website | muhammadyunus |
Early Life and Education
Muhammad Yunus was born on June 28, 1940, in Hathazari, Chittagong, which was then part of Bengal Presidency. He grew up during the British Raj and later Pakistan. He completed his schooling at Chittagong Collegiate School before earning his Bachelor of Arts (BA) and Master of Arts (MA) degrees in economics from the University of Dhaka. Afterward, he moved to the United States and earned a PhD in economics from Vanderbilt University in 1969.
Academic Career
Yunus began his academic career as an assistant professor at Middle Tennessee State University, where he taught economics. He then returned to Bangladesh in 1972 after the country gained independence. He became a faculty member at the University of Chittagong. Yunus was not only a teacher but also an advocate for economic development in Bangladesh.
Grameen Bank and Microcredit
In the late 1970s, Yunus began conducting research on poverty and economic development. His idea of providing small loans without requiring collateral, often called microcredit, took root in 1976 when he lent money to a group of women in a village in Bangladesh. This led to the formation of the Grameen Bank in 1983, which introduced the world to the concept of microfinancing. By 2006, Yunus and Grameen Bank were jointly awarded the Nobel Peace Prize for their efforts in creating economic and social development from below.
Social Business and Entrepreneurship
Yunus is also known for his advocacy of social business—a model where businesses are created to solve social problems rather than for profit maximization. He has established several social businesses that focus on providing affordable goods and services to the poor in Bangladesh. These businesses include Grameen Danone, a joint venture with the French company Danone to provide affordable yogurt, and Grameen Healthcare, which provides low-cost healthcare services.
Political Career
On August 8, 2024, Yunus was appointed as the Chief Adviser of Bangladesh, following the resignation of Prime Minister Sheikh Hasina due to widespread political unrest. As Chief Adviser, Yunus took steps to ensure democratic reforms, address corruption, and work toward long-term social and economic progress for the country. He emphasized strengthening the role of the youth and women in politics and governance. Yunus’s role as a non-partisan leader marked a significant shift in Bangladesh’s political landscape.
Personal Life
Yunus has been married twice. His first marriage was to Vera Forostenko in 1970, which ended in divorce in 1979. He later married Afrozi Yunus in 1983, with whom he has two daughters: Monica Yunus, an operatic soprano, and Deena Yunus, an entrepreneur. Yunus’s brother, Muhammad Ibrahim, is an academic who has contributed to educational development in Bangladesh.
Awards and Recognition
Yunus has received numerous prestigious awards and honors throughout his career. Some of his major recognitions include the Nobel Peace Prize (2006) for his pioneering work in microfinance, the Presidential Medal of Freedom (2009), and the Congressional Gold Medal (2010). His work in advancing social business also earned him the Olympic Laurel in 2020.
Legacy
Muhammad Yunus’s work has had a profound impact on global poverty alleviation and economic development. Through his Grameen Bank and microfinance model, millions of people, particularly women, have been able to escape poverty and build better lives. Yunus’s concept of social business has been adopted globally and has reshaped how businesses think about profit and social impact.
See Also
References
- "Muhammad Yunus – Biographical". NobelPrize.org. (2006). [1](https://www.nobelprize.org/prizes/peace/2006/yunus/biographical/ https://www.nobelprize.org/prizes/peace/2006/yunus/biographical/)
- "Muhammad Yunus | Biography & Facts". Britannica. (2025). [2](https://www.britannica.com/biography/Muhammad-Yunus)
- "Muhammad Yunus and Grameen Bank: Microcredit and the Nobel Peace Prize". The Guardian. (2025). [3](https://www.theguardian.com/world/2025/mar/10/muhammad-yunus-on-picking-up-the-pieces-in-bangladesh-after-monumental-damage-by-sheikh-hasinas-rule)
- "Yunus’s Journey: From Microcredit to Chief Adviser of Bangladesh". Financial Times. (2025). [4](https://www.ft.com/content/1c77dfa3-ba86-465e-bd89-1411e111237e)
