Muhammad Yunus facts for kids
Quick facts for kids
Muhammad Yunus
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মুহাম্মদ ইউনূস
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Yunus in 2025
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| 5th Chief Adviser of Bangladesh | |
| Assumed office 8 August 2024 |
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| President | Mohammed Shahabuddin |
| Preceded by | Sheikh Hasina |
| Adviser for Primary and Mass Education | |
| In office 3 April 1996 – 23 June 1996 |
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| Chief Adviser | Muhammad Habibur Rahman |
| Preceded by | Khaleda Zia |
| Succeeded by | Abu Sharaf Hizbul Qader Sadique |
| Adviser for Environment, Forest and Climate Change | |
| In office 3 April 1996 – 23 June 1996 |
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| Chief Adviser | Muhammad Habibur Rahman |
| Preceded by | Abdullah Al Noman |
| Succeeded by | Syeda Sajeda Chowdhury |
| Adviser for Science and Technology | |
| In office 3 April 1996 – 23 June 1996 |
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| Chief Adviser | Muhammad Habibur Rahman |
| Preceded by | Rafiqul Islam Miah |
| Succeeded by | Abu Sharaf Hizbul Qader Sadique |
| Personal details | |
| Born | 28 June 1940 Hathazari, Bengal Province, British India |
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| Political party | Independent (2007–present) |
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Nagorik Shakti (2007) |
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| Relatives | Muhammad Ibrahim (brother) |
| Residences | Jamuna State House, Dhaka |
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| Alma mater | University of Dhaka (BA, MA) Vanderbilt University (PhD) |
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Notable work
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Muhammad Yunus (born June 28, 1940) is a famous Bangladeshi economist and leader. He is known for creating the idea of microcredit and microfinance. This means giving very small loans to poor people who don't have much money. He won the Nobel Peace Prize in 2006 for this work. He was the first person from Bangladesh to win a Nobel Prize. He also started the Grameen Bank.
Since August 8, 2024, Yunus has been serving as the fifth Chief Adviser of Bangladesh. This is like being the head of the government for a short time.
Yunus was born in Hathazari, Chittagong. He studied at Chittagong Collegiate School and Chittagong College. He earned his bachelor's and master's degrees from the University of Dhaka. Later, he got his PhD in economics from Vanderbilt University in the United States.
After a terrible famine in Bangladesh in 1974, Yunus started working to help people escape poverty. He began trying out microfinance ideas in the late 1970s. In 1983, the Grameen Bank was officially opened. The success of Grameen Bank's microfinance idea has inspired similar projects in about 100 countries around the world.
Early Life and Education
Muhammad Yunus was born on June 28, 1940. He was the third of nine children. His family lived in the village of Bathua, near Hathazari in the Chittagong District of what was then Bengal. His father, Haji Muhammad Dula Mia Saudagar, was a jeweler. His mother was Sufia Khatun.
In 1944, his family moved to the city of Chittagong. He then went to Lamabazar Primary School. He later passed his high school exams from Chittagong Collegiate School. He was a very active Boy Scout during his school years. He traveled to different countries for Scout Jamborees.
While studying at Chittagong College, he enjoyed cultural activities and won awards for drama. In 1957, he started studying economics at Dhaka University. He finished his BA in 1960 and his MA in 1961.
Career Highlights
Starting His Career
After graduating, Yunus worked as a research assistant at Dhaka University. In 1961, he became an economics lecturer at Chittagong College. He also started a small, successful packaging factory. In 1965, he received a scholarship to study in the United States. He earned his PhD in economics from Vanderbilt University in 1969. From 1969 to 1972, he taught economics at Middle Tennessee State University.
During the Bangladesh Liberation War in 1971, Yunus helped create a committee to support Bangladesh's freedom. He also published a newsletter from his home in Nashville, Tennessee. After the war, he returned to Bangladesh. He joined Chittagong University as the head of the Economics department.
After seeing the famine of 1974, he became very focused on reducing poverty. He started a rural economic program as a research project. His ideas for helping poor people also inspired programs like the Info lady Social Entrepreneurship Programme.
Grameen Bank and Microfinance
In 1976, Yunus visited poor families in a village near Chittagong University. He learned that even tiny loans could make a huge difference for poor people. For example, women who made bamboo furniture had to borrow money at very high interest rates. This meant they couldn't keep much of their profits.
Yunus believed that poor people would repay loans if given a fair chance. He lent $27 of his own money to 42 women. They used the money to buy bamboo and made a small profit. This showed him that microcredit could work.
In December 1976, Yunus got a loan from a government bank to lend to the poor. This project grew, and on October 1, 1983, it became a full bank called Grameen Bank ("Village Bank"). By 2007, Grameen Bank had given out billions of dollars to millions of borrowers. The bank uses "solidarity groups" where small groups of people support each other to repay loans.
Grameen Bank also started other projects. These included Grameen Motsho (for fisheries) and Grameen Krishi (for agriculture). The Grameen initiative grew into many different businesses. One big project is Grameen Telecom, which owns part of Grameenphone, a large phone company in Bangladesh. This project helped bring cell phones to many rural poor people.
The success of Grameen Bank's microfinance idea has inspired similar efforts in about 100 countries. Most Grameen loans go to women. This is because women often suffer more from poverty and are more likely to use their earnings for their families.
The Yunus Centre in Dhaka, Bangladesh, was founded in 2008. It is a research center that focuses on social business and fighting poverty. It helps promote Yunus's ideas and supports new social businesses.
Global Involvement
Muhammad Yunus has worked with many international groups. In 2007, he was a founding member of The Elders. This group of world leaders works to solve global problems. He also joined the Africa Progress Panel to help with development in Africa.
Since 2010, Yunus has been a Commissioner for the Broadband Commission for Digital Development. This UN group uses internet services to help social and economic growth. In 2016, he was appointed to a UN commission on health and economic growth. He has also spoken out about violence against Rohingya Muslims in Myanmar.
Political Career
Adviser to the Caretaker Government
In 1996, Muhammad Yunus served as an adviser to a temporary government in Bangladesh. He helped oversee ministries like Primary and Mass Education, Science and Technology, and Environment and Forests.
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Chief Adviser of Bangladesh
After a large student protest movement in Bangladesh in August 2024, the previous government resigned. President Mohammed Shahabuddin asked Muhammad Yunus to form a temporary government. Yunus became the Chief Adviser on August 8, 2024.
After taking his oath, he visited people who were injured during the protests. He also visited the family of a student activist. Yunus has promised to continue helping Rohingya refugees in Bangladesh. He also supports the country's important garment industry.
In December 2024, Yunus announced that new general elections would be held in late 2025 or early 2026. His government has also started a commission to update the country's constitution.
As Chief Adviser, Muhammad Yunus is working to improve Bangladesh's digital systems. He wants to support economic growth for everyone. In March 2025, he announced that Bangladesh would work with SpaceX's Starlink. This project aims to bring reliable satellite internet across the country. This will help prevent internet blackouts and give more people access to education and health services.
In April 2025, Yunus spoke at a United Nations meeting. He talked about Bangladesh's commitment to building a strong digital economy. He also highlighted government investments in green infrastructure and sustainable housing.
Personal Life
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Muhammad Yunus is a Muslim. He believes that prayer and faith are very important in his life. His father was a deeply religious man. Yunus encourages people to pray directly to God for help. He sees the Qur'an as a guide for humanity.
In 1967, while studying in the US, Yunus met Vera Forostenko. They married in 1970. Their daughter, Monica Yunus, was born in 1979. Monica is now an operatic soprano in New York City. Yunus later married Afrozi Yunus, a physics researcher. Their daughter, Deena Afroz Yunus, was born in 1986.
His brother, Muhammad Ibrahim, is a former physics professor. He founded a center that brings science education to girls in villages.
Awards and Recognitions
Yunus won the 2006 Nobel Peace Prize along with Grameen Bank. The Nobel Committee praised him for turning his ideas into real actions that helped millions of people. They said that giving loans to poor people without financial security seemed impossible, but Yunus made it happen.
Muhammad Yunus was the first Bangladeshi to win a Nobel Prize. He announced that he would use part of his prize money to create a company that makes low-cost, healthy food for the poor. He also planned to build a university and an eye hospital in Bangladesh.
Former U.S. President Bill Clinton strongly supported Yunus winning the Nobel Prize. He even wrote about it in his autobiography.
Yunus is one of only seven people to have won the Nobel Peace Prize, the Presidential Medal of Freedom, and the Congressional Gold Medal. Other important awards he received include the Ramon Magsaysay Award in 1984 and the World Food Prize. He has also received 71 honorary degrees from universities in 27 countries.
In March 2012, Fortune Magazine named Yunus one of the 12 greatest entrepreneurs of our time. They said his idea inspired many young people to work for social causes worldwide. In January 2008, Houston, Texas, declared January 14 as "Muhammad Yunus Day."
In 2010, the British magazine New Statesman listed Yunus as one of the "World's 50 Most Influential Figures." He has given many speeches around the world and appeared on popular TV shows.
He also played a key role in the Paris 2024 Olympics. He promoted ideas about social business and encouraged projects that were good for society and the environment.
Works
Publications
- Yunus, Muhammad, Moingeon, Bertrand and Laurence Lehmann-Ortega (2010), "Building Social Business Models: Lessons from the Grameen Experience", April–June, vol 43, number 2–3, Long Range Planning, pp. 308–325
Documentaries
- 2000 – Sixteen Decisions
- 2010 – To Catch a Dollar
- 2011 – Bonsai People – The Vision of Muhammad Yunus directed by Holly Mosher
See also
In Spanish: Muhammad Yunus para niños
- Yunus Centre
- Yunus Social Business
- List of chief advisers of Bangladesh
- List of Nobel Peace Prize laureates
