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Muhammad Yunus

28 June 1940 – present

Muhammad Yunus (born 1940) is a Bangladeshi economist, banker and social entrepreneur who founded Grameen Bank and developed the concepts of microcredit and microfinance. He and Grameen Bank were jointly awarded the Nobel Peace Prize in 2006, and in August 2024 he became Chief Adviser of Bangladesh's interim government.

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Life events

Born in Chittagong, Bengal Presidency, British India
28 June 1940

Born in the village of Bathua near Chittagong, the third of nine children of a jeweller.

Source: en.wikipedia.org
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Graduated in economics from the University of Dhaka
1960 – 1961

Completed a BA in 1960 and an MA in 1961, then joined the Bureau of Economics as a research assistant and taught at Chittagong College.

Source: en.wikipedia.org
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Earned a PhD in economics from Vanderbilt University
1971

Studied in the United States on a Fulbright scholarship and completed his doctorate under Nicholas Georgescu-Roegen.

Source: en.wikipedia.org
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Returned to Bangladesh to head the economics department at Chittagong University
1972

Went back after the independence of Bangladesh and took up a professorship.

Source: en.wikipedia.org
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Made the first microloans in the village of Jobra
1976

Lent a small sum to a group of village women making bamboo furniture, the experiment that led to the Grameen Bank project.

Source: en.wikipedia.org
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Grameen Bank established as an independent bank
1983

Government legislation turned the microcredit project into a formal bank, with Yunus as its managing director.

Source: en.wikipedia.org
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Awarded the Nobel Peace Prize jointly with Grameen Bank
2006

Recognised for efforts to create economic and social development from below through microcredit.

Source: en.wikipedia.org
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Removed as managing director of Grameen Bank
2011

Bangladesh Bank ordered his removal on the grounds that he had passed the statutory retirement age; his legal challenge to the decision failed.

Source: en.wikipedia.org
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Sworn in as Chief Adviser of Bangladesh's interim government
8 August 2024

Took office as head of the interim government following the resignation of Prime Minister Sheikh Hasina after nationwide protests.

Source: en.wikipedia.org
Career ✓