Mohammed Yunus (microfinance pioneer)

Muhammad Yunus is a Bangladeshi social entrepreneur known as the pioneer of microfinance, a financial system that provides small loans to poor individuals who lack access to traditional banking. In the 1970s, he started lending small amounts of money to local villagers to help them start small businesses. This approach empowered individuals, particularly women, to improve their economic situations and lift themselves out of poverty. In 2006, Yunus and his organization, Grameen Bank, received the Nobel Peace Prize for their efforts in alleviating poverty and promoting economic and social development through microcredit.