Mohammad Yunus

Muhammad Yunus is a Bangladeshi social entrepreneur and economist best known for founding the Grameen Bank in 1983, which pioneered the concept of microfinance. This bank provides small loans to impoverished individuals, especially women, who lack access to traditional banking services. Yunus's approach empowers people to start businesses and improve their livelihoods, helping to alleviate poverty. In 2006, he and Grameen Bank were jointly awarded the Nobel Peace Prize for their efforts to promote economic and social development through microcredit. His work has inspired similar initiatives worldwide, influencing how poverty alleviation is approached.