Global Conference 2008
Nobel Peace Prize Laureate, 2006; Managing Director, Grameen Bank
Muhammad Yunus, winner of the 2006 Nobel Peace Prize, is the Managing Director of Grameen Bank, which is based in Bangladesh. He is famous worldwide for his successful application of the concept of microcredit, the extension of small loans to entrepreneurs too poor to qualify for traditional bank loans. His efforts have lifted millions of families out of poverty. Yunus founded the Grameen Bank; in 2006 he and the bank were jointly awarded the Nobel Peace Prize "for their efforts to create economic and social development from below." Yunus is the author of Banker to the Poor (1999) and Creating a World Without Poverty (2007). He is also a member of the board of directors of Grameen America Inc. and the Grameen Foundation. From 1972 until 1989, he was a professor of economics at the University of Chittagong in Bangladesh. Yunus has been described by BusinessWeek as one of the "greatest entrepreneurs of all time." He received a bachelor's degree and a master's degree from the University of Dhaka and a Ph.D. from Vanderbilt University.