WORLD WITHOUT POVERTY
Muhammad Yunus (Bengali born 28 June 1940) is banker, economist and Nobel Peace Prize recipient. As a professor of economics, he developed the concepts of micro-credit and micro-finance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. In 2006 Yunus and Grameen Bank received the Nobel Peace Prize "for their efforts through micro-credit to create economic and social development from below". Yunus has received several other national and international honors . He was awarded the U.S.Congressional Gold Medal in 2010, and presented with it at a ceremony at the U.S. Capitol on 17 April 2013.
In 2008, he was rated #2 in Foreign Policy magazine's list of the 'Top 100 Global Thinkers'.
In 2012, he became Chancellor of Glasgow Caledonian University in Scotland. He is a member of the advisory board at Shahjalal University of Science and Technology. 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 micro-credit.
Yunus also serves on the board of directors of the United Nations Foundation, a public charity created in 1998 by American philanthropist Ted Turner’s $1 billion gift to support UN causes.
HIS WORKS :
He is famous for his Idea and implementation of micro-credit and micro-financial structure of Grameen bank .
Muhammad Yunus has shown himself to be a leader who has managed to translate visions into practical action for the benefit of millions of people, not only in Bangladesh, but also in many other countries. Loans to poor people without any financial security had appeared to be an impossible idea.
From modest beginnings three decades ago, Yunus has, first and foremost through Grameen Bank, developed micro-credit into an ever more important instrument in the struggle against poverty.
Brief of Grameen bank through the video.
In his speech he explained how he developed the micro-finance model in the poor villages of Bangladesh which eventually got replicated all over the world. He set up a system of Social business whose main purpose was not profit maximization but serving the most pressing problems of the society.He explained , how simple non collateral based loans can transform the lives of poor. He visualized " we have created a society that does not allow opportunities for those poor people to take care of themselves because we have denied them those opportunities"
DIFFERENCE B/W CONVENTIONAL BANK AND GRAMEEN BANK
He was also one of the main reasons of pouring ADIDAS and Water Purifying Companies into the Social welfare service . This proved a way out for Adidas so as to make a slogan " no one remains barefooted ". he gained market easily and in terms of Corporate Social Responsibility was also fulfilled with both the company and the poor people getting benefits .
The whole class was very inspirational and motivating in understanding the basic problems that poor people face around us, how the schemes become unfruitful and how to create and deliver value to our society through innovative ideas . This type of models take CSR to a very high level and the companies can help in establishing such fruitful organisations across the world so that no one dies of hunger and poverty.
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