Professor Muhammad Yunus' never wanted to be a banker and he certainly never imagined winning the Nobel Peace Prize. Yet his quest to help the working poor invest in themselves led to both. Known as the father of microcredit loans in Bangladesh, Yunus spent years developing the Grameen Bank, and in 1983 it became a fully licensed bank with a twist-it was owned by its borrowers-mainly poor women. Yunus is famous for saying that in developing Grameen he deliberately did the opposite of what a conventional bank would do. Today, the success of Grameen Bank has changed the lives of 7.5 million Bangladeshi borrowers and their families (in 38 countries worldwide.- delete- it women in Bangladesh they added other countries and now there are 100million mc loans world-wide. But why stop at Bangladesh and poor nations? As the global financial industry struggles with plummeting markets and job loses, Yunus holds steady with his latest banking initiative in New York
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| Gayle Ferraro |
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