Table of Contents

Topics Introduction Early life & Education Early Career Recognition Political Activity Controversy it! "r# $u!a%%ad &unus & 'ra%een (an)

Page Number 2 3 4 5-7 7-8 8-*

Personal +ife +eaders!i. C!aracteristics & (oo)s Conclusion References

,,,-,3 ,4 ,5

Introduction
1

Muhammad Yunus is a (anglades!i /an)er0 econo%ist and 1o/el Peace Pri2e reci.ient# As a .rofessor of econo%ics0 !e develo.ed t!e conce.ts of %icrocredit and %icrofinance# 3!ese loans are given to entre.reneurs too .oor to 4ualify for traditional /an) loans# In 2--5 &unus and 'ra%een (an) received t!e 1o/el Peace Pri2e 6for t!eir efforts t!roug! %icrocredit to create econo%ic and social develo.%ent fro% /elo 6# &unus !as received several ot!er national and international !onours# 7e as a arded t!e 8#9# Congressional 'old $edal in 2-,-0 and .resented it! it at a cere%ony at t!e 8#9# Ca.itol on ,7 A.ril 2-,3# In 2-,20 !e /eca%e C!ancellor of 'lasgo Caledonian 8niversity in 9cotland# 7e is a %e%/er of t!e advisory /oard at 9!a!:alal 8niversity of 9cience and 3ec!nology# Previously0 !e as a .rofessor of econo%ics at C!ittagong 8niversity in (anglades!# 7e .u/lis!ed several /oo)s related to !is finance or)# 7e is a founding /oard %e%/er of 'ra%een A%erica and 'ra%een ;oundation0 !ic! su..ort %icrocredit# &unus also serves on t!e /oard of directors of t!e 8nited 1ations ;oundation0 a .u/lic c!arity created in ,**8 /y A%erican .!ilant!ro.ist 3ed 3urner<s =, /illion gift to su..ort 81 causes#

Early Life & Education

2

3!e t!ird of nine c!ildren0 &unus as /orn on 28 >une ,*4- to a $usli% fa%ily in t!e village of (at!ua0 /y t!e (o?ir!at Road in 7at!a2ari0 C!ittagong0 in t!e (ritis! Ra: @%odern (anglades!A# 7is fat!er as 7a2i "ula $ia 9!oudagar0 a :e eler0 and !is %ot!er as 9ufia B!atun# 7is early c!ild!ood as s.ent in t!e village# In ,*440 !is fa%ily %oved to t!e city of C!ittagong0 and !e %oved fro% !is village sc!ool to +a%a/a2ar Pri%ary 9c!ool# (y ,*4*0 !is %ot!er as afflicted it! .syc!ological illness# +ater0 !e .assed t!e %atriculation e?a%ination fro% C!ittagong Collegiate 9c!ool ran)ing ,5t! of 3*0--- students in East Pa)istan# "uring !is sc!ool years0 !e as an active (oy 9cout0 and travelled to Cest Pa)istan and India in ,*520 and to Canada in ,*55 to attend >a%/orees# +ater !ile &unus studied at C!ittagong College0 !e /eca%e active in cultural activities and on a ards for dra%a# In ,*570 !e enrolled in t!e "e.art%ent of Econo%ics at "!a)a 8niversity and co%.leted !is (A in ,*5- and $A in ,*5,# After Graduation After !is graduation0 &unus :oined t!e (ureau of Econo%ics as a researc! assistant to t!e econo%ics researc!es of Professor 1urul Isla% and Re!%an 9o/!an# +ater0 !e as a..ointed lecturer in econo%ics in C!ittagong College in ,*5,# "uring t!at ti%e0 !e also set u. a .rofita/le .ac)aging factory on t!e side# in ,*550 !e received a ;ul/rig!t sc!olars!i. to study in t!e 8nited 9tates# 7e o/tained !is P!" in econo%ics fro% t!e Dander/ilt 8niversity 'raduate Progra% in Econo%ic "evelo.%ent @'PE"A in ,*7,# ;ro% ,*5* to ,*720 &unus as assistant .rofessor of econo%ics at $iddle 3ennessee 9tate 8niversity in $urfrees/oro# "uring t!e (anglades! +i/eration Car in ,*7,0 &unus founded a citi2enEs co%%ittee and ran t!e (anglades! Infor%ation Center0 it! ot!er (anglades!is in t!e 8nited 9tates0 to raise su..ort for li/eration# 7e also .u/lis!ed t!e (anglades! 1e sletter fro% !is !o%e in 1as!ville# After t!e Car0 !e returned to (anglades! and as a..ointed to t!e govern%entEs Planning Co%%ission !eaded /y 1urul Isla%# 7o ever0 !e found t!e :o/ /oring and resigned to :oin C!ittagong 8niversity as !ead of t!e Econo%ics de.art%ent# After o/serving t!e fa%ine of ,*740 !e /eca%e involved in .overty reduction and esta/lis!ed a rural econo%ic .rogra% as a researc! .ro:ect# In ,*750 !e develo.ed a 1a/a:ug @1e EraA 3e/!aga B!a%ar @t!ree s!are far%A !ic! t!e govern%ent ado.ted as t!e Pac)aged In.ut Progra%%e# In order to %a)e t!e .ro:ect %ore effective0 &unus and !is associates .ro.osed t!e 'ra% 9ar)ar @t!e village govern%entA .rogra%%e# Introduced /y President Fiaur Ra!%an in t!e late ,*7-s0 t!e 'overn%ent for%ed 4-03*2 village govern%ents as a fourt! layer of govern%ent in 2--3# Gn 2 August 2--50 in res.onse to a .etition /y (anglades! +egal Aids and 9ervices 3rust @(+A93A t!e 7ig! Court !ad declared village govern%ents illegal and unconstitutional#

Early !areer

In ,*750 during visits to t!e .oorest !ouse!olds in t!e village of >o/ra near C!ittagong 8niversity0 &unus discovered t!at very s%all loans could %a)e a dis.ro.ortionate difference to a .oor .erson# Dillage o%en !o %ade /a%/oo furniture !ad to ta)e usurious loans to /uy /a%/oo0 and re.ay t!eir .rofits to t!e lenders# 3raditional /an)s did not ant to %a)e tiny loans at reasona/le interest to t!e .oor due to !ig! ris) of default# (ut &unus /elieved t!at0 given t!e c!ance0 t!e .oor ill re.ay t!e %oney and !ence %icrocredit as a via/le /usiness %odel# &unus lent 89=27 of !is %oney to 42 o%en in t!e village0 !o %ade a .rofit of ("3 -#5@89=-#-2A eac! on t!e loan# 3!us &unus is credited it! t!e idea of %icrocredit alongside "r# A)!tar 7a%eed B!an0 founder of t!e Pa)istan Acade%y for Rural "evelo.%ent @no (anglades! Acade%y for Rural "evelo.%entA0 !o% &unus greatly ad%ired# In "ece%/er ,*750 &unus finally secured a loan fro% t!e govern%ent >anata (an) to lend to t!e .oor in >o/ra# 3!e institution continued to o.erate0 securing loans fro% ot!er /an)s for its .ro:ects# (y ,*820 it !ad 280--- %e%/ers# Gn , Gcto/er ,*830 t!e .ilot .ro:ect /egan o.eration as a full-fledged /an) for .oor (anglades!is and as rena%ed Grameen "an# @6Dillage (an)6A# &unus and !is colleagues encountered everyt!ing fro% violent radical leftists to conservative clergy !o told o%en t!at t!ey ould /e denied a $usli% /urial if t!ey /orro ed %oney fro% 'ra%een# (y >uly 2--70 'ra%een !ad issued 89=5#38 /illion to 7#4 %illion /orro ers# 3o ensure re.ay%ent0 t!e /an) uses a syste% of 6solidarity grou.s6# 3!ese s%all infor%al grou.s a..ly toget!er for loans and its %e%/ers act as co-guarantors of re.ay%ent and su..ort one anot!erEs efforts at econo%ic self-advance%ent# In t!e late ,*8-s0 'ra%een started to diversify /y attending to underutili2ed fis!ing .onds and irrigation .u%.s li)e dee. tu/e ells# In ,*8*0 t!ese diversified interests started gro ing into se.arate organi2ations# 3!e fis!eries .ro:ect /eca%e 'ra%een $ots!o @6'ra%een ;is!eries ;oundation6A and t!e irrigation .ro:ect /eca%e 'ra%een Bris!i @6'ra%een Agriculture ;oundation6A# In ti%e0 t!e 'ra%een initiative gre into a %ulti-faceted grou. of .rofita/le and non-.rofit ventures0 including %a:or .ro:ects li)e 'ra%een 3rust and 'ra%een ;und0 !ic! runs e4uity .ro:ects li)e 'ra%een 9oft are +i%ited0 'ra%een Cy/er1et +i%ited0 and 'ra%een Bnit ear +i%ited0 as ell as 'ra%een 3eleco%0 !ic! !as a sta)e in 'ra%een.!one @'PA0 t!e /iggest .rivate .!one co%.any in (anglades!# ;ro% its start in $arc! ,**7 to 2--70 'PEs Dillage P!one @Polli P!oneA .ro:ect !ad /roug!t cell-.!one o ners!i. to 25-0--- rural .oor in over 5-0--- villages#

$ecognition

$u!a%%ad &unus as a arded t!e 2--5 1o/el Peace Pri2e0 along it! 'ra%een (an)0 for t!eir efforts to create econo%ic and social develo.%ent# In t!e .ri2e announce%ent 3!e 1or egian 1o/el Co%%ittee %entionedH

$u!a%%ad &unus at t!e 'rand 7otel in Gslo0 1or ay

$u!a%%ad &unus !as s!o n !i%self to /e a leader !o !as %anaged to translate visions into .ractical action for t!e /enefit of %illions of .eo.le0 not only in (anglades!0 /ut also in %any ot!er countries# +oans to .oor .eo.le it!out any financial security !ad a..eared to /e an i%.ossi/le idea# ;ro% %odest /eginnings t!ree decades ago0 &unus !as0 first and fore%ost t!roug! Grameen "an#0 develo.ed %icro-credit into an ever %ore i%.ortant instru%ent in t!e struggle against .overty# $u!a%%ad &unus as t!e first (anglades!i to ever get a 1o/el Pri2e# After receiving t!e ne s of t!e i%.ortant a ard0 &unus announced t!at !e ould use .art of !is s!are of t!e =,#4 %illion a ard %oney to create a co%.any to %a)e lo -cost0 !ig!-nutrition food for t!e .oorI !ile t!e rest ould go to ard setting u. an eye !os.ital for t!e .oor in (anglades!# ;or%er 8#9# .resident (ill Clinton as a vocal advocate for t!e a arding of t!e 1o/el Pri2e to $u!a%%ed &unus# 7e e?.ressed t!is in Rolling 9tone %aga2ine as ell as in !is auto/iogra.!y $y +ife# In a s.eec! given at 8niversity of California0 (er)eley in 2--20 President Clinton descri/ed "r# &unus as 6a %an !o long ago s!ould !ave on t!e 1o/el Pri2e and I<ll )ee. saying t!at until t!ey finally give it to !i%#6 Conversely0 3!e Econo%ist stated e?.licitly t!at &unus as a .oor c!oice for t!e a ard0 statingH 6###t!e 1o/el co%%ittee could !ave %ade a /raver0 %ore difficult0 c!oice /y declaring t!at t!ere ould /e no reci.ient at all#6 Additionally0 "r# &unus !as /een a arded 5- !onorary doctorate degrees fro% universities across 2- countries0 and ,,3 international a ards fro% 25 different countries including state !onours fro% ,- countries# (anglades! govern%ent /roug!t out a co%%e%orative sta%. to !onour !is 1o/el A ard# In >anuary 2--80 7ouston0 3e?as declared ,4 >anuary as 6$u!a%%ad &unus "ay6# 7e received t!e " ig!t "# Eisen!o er $edal for +eaders!i. and 9ervice fro% t!e Eisen!o er ;ello s!i.s at a cere%ony in P!iladel.!ia on 2, $ay 2--*# 7e as also voted 2nd in Pros.ect $aga2ineEs 2--8 glo/al .oll of t!e orldEs to. ,-- intellectuals#
5

&unus as na%ed a%ong t!e %ost desired t!in)ers t!e orld s!ould listen to /y t!e ;P ,-@ orldEs %ost influential eliteA in t!e "ece%/er 2--* issue of ;oreign Policy %aga2ine# Gn , $arc! 2-,-0 &unus as a arded t!e .restigious Presidential A ard fro% t!e 8niversity of Illinois at 8r/anaJC!a%.aign# 3!is is t!e !ig!est !onour availa/le fro% t!e 8niversity# Gn ,5 $ay 2-,-0 &unus gave t!e co%%ence%ent s.eec! at Rice 8niversity for t!e graduating class of 2-,-# Gn ,5 $ay 2-,-0 &unus gave t!e co%%ence%ent s.eec! at "u)e 8niversity for t!e graduating class of 2-,-# "uring t!is cere%ony0 !e as also a arded an !onorary degree0 "octor of 7u%ane +etters# A docu%entary on &unusE or) titled 3o Catc! a "ollar as s!o n at t!e 2-,- 9undance ;il% ;estival and is due to /e released in t!eatres in t!e 89 on 9e.te%/er 2-,-# In 2-,-0 3!e (ritis! $aga2ine 1e 9tates%an listed $u!a%%ad &unus at 4-t! in t!e list of 63!e CorldEs 5- $ost Influential ;igures 2-,-6# In Gcto/er 2-,-0 7e received t!e 9ocial Entre.reneur of t!e &ear A ard at 3!e Asian A ards# Professor &unus as na%ed 61o/el-+aureate-in-Residence6 at 8niversiti Be/angsaan $alaysia @1ational 8niversity of $alaysiaA on ,5 >uly 2-,,# Gn 22 9e.te%/er 2-,, t!e docu%entary fil%0 (onsai Peo.le J 3!e Dision of $u!a%%ad &unus0 t!e first docu%entary fil% t!at loo)s !is full /ody of or) fro% %icrocredit to social /usiness0 .re%iered at t!e 8nited 1ations# Professor &unus as na%ed /y ;ortune $aga2ine in $arc! 2-,2 as one of ,2 greatest entre.reneurs of t!e current era# In its citation0 ;ortune $aga2ine said K&unusE idea ins.ired countless nu%/ers of young .eo.le to devote t!e%selves to social causes all over t!e orld#K In >anuary 2-,20 Professor &unus featured in 63ransfor%ative Entre.reneursH 7o Calt "isney0 9teve >o/s0 $u!a%%ad &unus and Gt!er Innovators 9ucceeded6 a /oo) /y >effrey 7arris# Professor &unus delivered t!e 9event! 1elson $andela Annual +ecture# &unus received 5- !onorary doctorate degrees fro% universities fro% Argentina0 Australia0 (anglades!0 (elgiu%0 Canada0 Costa Rica0 India0 Italy0 >a.an0 Borea0 +e/anon0 $alaysia0 Russia0 9out! Africa0 9.ain0 3!ailand0 3ur)ey0 8B0 89A and Peru# 7e !as /een a %e%/er of ;ondation C!iracEs !onour co%%ittee0 ever since t!e foundation as launc!ed in 2--8 /y for%er ;renc! .resident >ac4ues C!irac in order to .ro%ote orld .eace#

Political Acti%ity
In early 2--5 &unus0 along it! ot!er %e%/ers of t!e civil society including Professor Re!%an 9o/!an0 >ustice $u!a%%ad 7a/i/ur Ra!%an0 "r Ba%al 7ossain0 $atiur Ra!%an0 $a!fu2
6

Ana% and "e/a.riya (!attc!ariya0 .artici.ated in a ca%.aign for !onest and clean candidates in national elections# 7e considered entering .olitics in t!e later .art of t!at year# Gn ,, ;e/ruary 2--70 &unus rote an o.en letter0 .u/lis!ed in t!e (anglades!i ne s.a.er "aily 9tar0 !ere !e as)ed citi2ens for vie s on !is .lan to float a .olitical .arty to esta/lis! .olitical good ill0 .ro.er leaders!i. and good governance# In t!e letter0 !e called on everyone to /riefly outline !o !e s!ould go a/out t!e tas) and !o t!ey can contri/ute to it# &unus finally announced t!at !e is illing to launc! a .olitical .arty tentatively called Citi2ensE Po er @1agori) 9!a)tiA on ,8 ;e/ruary 2--7# 3!ere as s.eculation t!at t!e ar%y su..orted a %ove /y &unus into .olitics# Gn 3 $ay0 !o ever0 &unus declared t!at !e !ad decided to a/andon !is .olitical .lans follo ing a %eeting it! t!e !ead of t!e interi% govern%ent0 ;a)!ruddin A!%ed# In >uly 2--7 in >o!annes/urg0 9out! Africa0 1elson $andela0 'raLa $ac!el and "es%ond 3utu convened a grou. of orld leaders Mto contri/ute t!eir isdo%0 inde.endent leaders!i. and integrity to tac)le so%e of t!e orld<s toug!est .ro/le%s#N 1elson $andela announced t!e for%ation of t!is ne grou.0 3!e Elders0 in a s.eec! !e delivered on t!e occasion of !is 8*t! /irt!day# &unus attended t!e launc! of t!e grou. and as one of its founding %e%/ers# 7e ste..ed do n as an Elder in 9e.te%/er 2--*0 stating t!at !e as una/le to do :ustice to !is %e%/ers!i. due to t!e de%ands of !is or)# &unus is a %e%/er of t!e Africa Progress Panel @APPA0 a grou. of ten distinguis!ed individuals !o advocate at t!e !ig!est levels for e4uita/le and sustaina/le develo.%ent in Africa# Every year0 t!e Panel releases a re.ort0 t!e Africa Progress Re.ort t!at outlines an issue of i%%ediate i%.ortance to t!e continent and suggests a set of associated .olicies# In 2-,20 t!e Africa Progress Re.ort !ig!lig!ted issues of >o/s0 >ustice0 and E4uity# 3!e 2-,3 re.ort ill outline issues relating to oil0 gas0 and %ining in Africa# In >uly 2--*0 &unus /eca%e a %e%/er of t!e 91D 1et!erlands "evelo.%ent Grgani2ation International Advisory (oard to su..ort t!e organi2ation<s .overty reduction or)# 9ince 2-,-0 &unus !as served as a Co%%issioner for t!e (road/and Co%%ission for "igital "evelo.%ent0 a 81 initiative !ic! see)s to use /road/and internet services to accelerate social and econo%ic develo.%ent# 7e also serves on t!e advisory /oard of t!e 7olci% ;oundation for 9ustaina/le Construction0 a foundation su..orting initiatives t!at co%/ine sustaina/le construction solutions it! arc!itectural e?cellence# In 2-,,0 &unus as .art of t!e >ury !ic! c!ose t!e universal +ogo for 7u%an Rig!ts# Its goal as to create an internationally recogni2ed logo to su..ort t!e glo/al !u%an rig!ts %ove%ent#

!ontro%ersy &ith Grameen "an# and 'r( Muhammad Yunus

9ince late 1ove%/er 2-,-0 several allegations !ave /een %ade against &unus# 3!ey started it! a criti4ue of %icrocredit and /la%e of 'ra%een (an) on several .oints in t!e docu%entary
7

MCaug!t in $icro "e/tN on 1or egian television on 3- 1ove%/er 2-,-# 3!is develo.ed at a ti%e !en larger 4uestions ere /eing raised a/out t!e /enefits of %icrofinance and its effects on .overty alleviation0 .articularly in regards to several %icrofinance institutions @$;IsA in India and $e?ico# 3!e allegations against &unus /eca%e .olitical !en t!e govern%ent of (anglades! J led /y 9!ei)! 7asina Ca:ed turned against !i% and t!e conce.t of %icrofinance0 accusing it of Msuc)ing /lood fro% t!e .oorN# Ca:ed re.ortedly vie ed &unus as a .olitical rival since &unus considered creating a .olitical .arty in 2--7# 3!e 'overn%ent announced a revie of 'ra%een (an) activities on ,, >anuary 2-,,0 !ic! is ongoing# In ;e/ruary0 several international leaders0 suc! as $ary Ro/inson0 ste..ed u. t!eir defence of &unus t!roug! a nu%/er of efforts0 including t!e founding of a for%al net or) of su..orters )no n as M;riends of 'ra%eenN# Gn ,5 ;e/ruary 2-,,0 t!e ;inance $inister of (anglades!0 A/ul $aal A/dul $u!it!0 declared t!at &unus s!ould Mstay a ayN fro% 'ra%een (an) !ile it is /eing investigated# Gn 2 $arc! 2-,,0 $u2a%%el 7u4 J a for%er (an) e%.loyee0 !o% t!e govern%ent !ad a..ointed C!air%an in >anuary J announced t!at &unus !ad /een fired as $anaging "irector of t!e (an)# 7o ever0 (an) 'eneral $anager >annat-E Ouanine issued a state%ent t!at &unus as Mcontinuing in !is officeN .ending revie of t!e legal issues surrounding t!e controversy# In $arc! 2-,,0 &unus .etitioned t!e (anglades! 7ig! Court c!allenging t!e legality of t!e decision /y t!e (anglades!i Central (an) to re%ove !i% as $anaging "irector of 'ra%een (an)# 3!e sa%e day0 nine elected directors of 'ra%een (an) filed a second .etition# ;ollo ing 7illary Clinton0 >o!n Berry e?.ressed !is su..ort to &unus in a state%ent on 5 $arc! 2-,, and declared t!at !e as Mdee.ly concernedN /y t!is affair# 3!e sa%e day in (anglades!0 t!ousands of .eo.le .rotested and for%ed !u%an c!ains to su..ort &unus# 3!e 7ig! Court !earing on t!e .etitions as .lanned for 5 $arc! 2-,, /ut .ost.oned# Gn 8 $arc! 2-,,0 t!e Court confir%ed &unusEs dis%issal# Transition to Ne& Management 3!e govern%ent recently a..ointed a ne c!air%an0 $u2a%%el 7u40 !o is a for%er 'ra%een (an) e%.loyee# 7e !as .u/licly criticised &unus0 saying0 6I t!in) !e is a good %an it! a s%all !eart ### 7e cannot give credit to anyone /ut !i%selfN# Gn 28 ;e/ruary 2-,,0 !e .resented a letter /y a (anglades! (an) official at a %eeting of t!e 'ra%een (an) (oard of "irectors0 saying t!at &unus Mstaying in t!e .ost for an indefinite .eriod ### as not it!in t!e la N0 and as)ing t!at t!e %eeting /e ad:ournedI !o ever0 /ecause t!e letter as not addressed to t!e $anaging "irector0 t!e rest of t!e (oard0 including t!e t o ot!er govern%ent-a..ointed "irectors0 deter%ined t!at t!e %eeting s!ould continue as .lanned# A :ournalist of t!e 3elegra.! co%%ented t!at Mt!e (anglades!i 'overn%ent s!ould re%ove C!air%an 7u4 i%%ediately# If calling &unus a Ec!ic)en !earted %anE in t!e 1e &or) 3i%es is
8

!is ay of s!o ing co%%it%ent0 inde.endence and integrity0 t!en so%et!ing is seriously rong# In !is defense0 itEs a .retty accurate descri.tion of so%eone !o is deter%ined to destroy a force for goodPN &unus !as stated !is desire for an orderly transition0 to %a)e sure t!at t!e (an)Es governing .ractices and trans.arency are effective and ensure t!at t!e institution does not turn into a .olitical instru%ent if ta)en over /y t!e govern%entH MI a% riding t!e tiger# I cannot :ust get off t!e tiger it!out dra ing t!e attention of t!at tiger# 9o I !ave to very 4uietly do it#N Allegations In%ol%ing Partners The )ood !ase and the Phone !ase Gn 27 >anuary 2-,,0 $u!a%%ad &unus a..eared in court in a food-adulteration case filed /y t!e "!a)a City Cor.oration @"CCA ;ood 9afety Court0 accusing !i% of .roducing an MadulteratedN yogurt !ose fat content as /elo t!e legal %ini%u%# 3!is yogurt is .roduced /y Grameen 'anone* a social /usiness :oint venture /et een 'ra%een (an) and "anone t!at ai%s to .rovide o..ortunities for street vendors !o sell t!e yogurt and to i%.rove c!ild nutrition it! t!e nutrient-fortified yogurt# According to &unusEs la yer0 t!e allegations are Mfalse and /aselessN# At t!e re4uest of &unusEs la yers0 .ointing .rocedural irregularities and errors0 t!is case is no considered /y t!e 7ig! Court# Gn ,5 ;e/ruary 2-,,0 &unus as su%%oned /y a court in Pa/na @in 1ort! (anglades!A to a..ear on ,8 A.ril in a fraud case involving Grameen Phone( 3!is case concerns a 'ra%een village .!one user0 !o received overdue /ills alt!oug! s!e !ad .aid t!e /ills regularly#

Personal Life
In ,*570 !ile &unus attended Dander/ilt 8niversity0 !e %et Dera ;orosten)o0 a student of Russian literature at Dander/ilt 8niversity and daug!ter of Russian i%%igrants to 3renton0 1e >ersey0 89# 3!ey ere %arried in ,*7-# &unusEs %arriage it! Dera ended it!in %ont!s of t!e /irt! of t!eir /a/y girl0 $onica &unus @/orn ,*7* C!ittagongA0 as Dera returned to 1e >ersey clai%ing t!at (anglades! as not a good .lace to raise a /a/y# &unus later %arried Afro2i &unus0 !o as t!en a researc!er in .!ysics at $anc!ester 8niversity# 9!e as later a..ointed as a .rofessor of .!ysics at >a!angirnagar 8niversity# 3!eir daug!ter "eena Afro2 &unus as /orn in ,*85# &unusEs /rot!ers are also active in acade%ia# 7is /rot!er $u!a%%ad I/ra!i% is a .rofessor of .!ysics at "!a)a 8niversity and t!e founder of 3!e Center for $ass Education in 9cience
9

@C$E9A0 !ic! /rings science education to adolescent girls in villages# 7is younger /rot!er $u!a%%ad >a!angir is a .o.ular television .resenter and a ell )no n social activist in (anglades!# 7e is also t!e %oderator of several 3al) s!o .rogra%%es in (anglades!# $onica &unus0 !is elder daug!ter0 is a (anglades!i-Russian A%erican o.eratic so.rano0 or)ing in 1e &or) City#

Leadership !haracteristics of 'r( Muhammad Yunus

Leadership is a /unc! of traits t!at drive .eo.le to ards so%e goals and t!us +eaders al ays /eco%e goal oriented# +eaders!i. %eans !at a %an does for !i%self or for !is organi2ation# According to %anage%ent scientist Ro//ins0 M+eaders!i. is t!e .rocess of influencing a grou. to ard t!e ac!ieve%ent of goalsN# Every .erson re.resenting any organi2ation sets so%e goals and drives !i%self it! !is fello s to ards ac!ieving so%e goals# 7ere0 leaders vital role is to %otivate t!e tea% and ta)ing ris) and .ressures of t!e :o/ res.onsi/ilities# 3!ese aren<t easy :o/# Everyone can<t do suc! %anaging activitiesI t!e .ersons !o can do so are t!e actual leaders#
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Professor $u!u%%ad &unus /elieves t!at .overty can totally /e con4uered in !is lifeti%e is t!e rig!t a..roac! is ado.ted# 3!is vie .oint is /ased on !is /elief t!at t!e in!erent a/ility of t!e .oor can /e unleas!ed once t!ey are given t!e o..ortunity to !el. t!e%selves# 7is drea% of addressing .overty t!roug! an econo%ic develo.%ent lens /eca%e a reality it! t!e esta/lis!%ent of Grameen "an# in (anglades!0 !ic! recogni2ed t!at credit it!out collateral is a funda%ental rig!t of t!e .oor# 'ra%een (an) as a grand success and !as /een idely re.licated all over t!e orld# &unus as a arded t!e 1o/el Peace Pri2e in 2--5 for !is transfor%ative or) in %icro-financing Professor &unusEs social /usiness grou. reac!es into all corners of !is country# 7e /egan !is Grameen "an# /y trial and error in t!e o/servation of t!e et!ical .rocess in t!ose !e served# 7e /egan to find t!at a co-/orro er %utual su..ort structure as essential to create self-identity /y :oint self-e%.o er%ent t!roug! %oral su..ort of t!ose it! a si%ilar econo%ic status# 3!e /an) staff .rovided t!e training voice to allo clients to e?tend t!at .eo.le-centric .!iloso.!y of i%age /uilding t!roug! t!e discovery of %utual self- ort!# Cee)ly .eer-level %eetings fostered acce.tance and self-encourage%ent along it! re%inding eac! .artici.ant of t!eir :oint e?.ectations in t!eir s!ared loan res.onsi/ility0 t!us t!e value of living social ca.ital re.laced t!e value of cas! as security# 3!ree social values ere used in &unusE value translation t!eoretic a..roac! to create t!e non-collateral grou. securities conce.tH +,- Rural value of .lace @.- 9!ared value of res.onsi/ility and +/- $otivational value of survival in t!e face of a/:ect .overty# 3!e Grameen group is incredi/ly diverse# $icrofinance0 savings0 insurances0 eye !os.itals0 %o/ile .!ones0 solar energy0 !ig! nutrition yog!urt# 3!e list goes on and on# (ut t o t!ings !ave never c!anged# 3!e re:ection of c!arity as a solution to .overty and t!e drive to create financially via/le enter.rises0 o ned /y t!e .oor t!e%selves0 /ased on !ig!-volu%e0 lo -%argin .roducts and services# In a land it! no .u/lic sector grants to )ee. t!e salaries .aid or su.er-ric! !edge fund %anagers da//ling in social innovation0 t!ere is little c!oice /ut to /e inventive !en it co%es to /usiness %odels0 /ut &unusEs /rea)ing of t!e 1'G or .rivate /usiness .aradig% is i%.ressive#
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 It is critically i%.ortant for a leader to !ave .ositive feed/ac) fro% t!e glo/al co%%unity# &unus a/ility to self-e%.o er o%en and t!eir fa%ilies is e?e%.lified /y t!e !ousing .rogra% of Grameen "an#0 !ere t!ese structures ere designed /y t!e .eo.le !o ould live in t!e% and re4uest financing to /uild t!e%# 3!ese structures on t!e International Aga B!an A ard for Arc!itecture in ,*8*0 and later0 t!e Corld 7a/itat A ard in ,**7# It called international attention to glo/al-scale entre.reneurial leaders!i. /y t!e .oor0 in .ro:ects t!at can /e used to serve t!e .oor else !ere# 3!ese a ards in turn affected &unus /y reinforcing !is confidence and .roviding !i% glo/al legiti%acy0 !ic! !e t!en used to :ustify t!e scaling u. of !is funding levels to e?.and !is .rogra% to ot!er nations# Professor $u!a%%ad &unusE .ioneering e?.loitation of orld ide ine4uities in t!e financing of credit to .oor .eo.le rests in large .art on !is efforts to socially e%anci.ate o%en treated as .ro.erty in t!e !ars! realities of t!ird- orld countries /y t!e co%.le%entary use of cultural intelligence and e%otional intelligence s)ills# 3!is aut!enticity .ri%arily reflects &unusE fir% /elief in .eo.le to e%.o er t!e%selves0 and is t!e )ey %otivating ele%ent of !is leaders!i. style# &unus is also a/le to use social relations to net or) t!e e?.ertise of ot!ersI t!ese s)ills de%onstrate .olitical leaders!i. /e!avior# Professor &unus effectively gras.s and ins.ires t!ose !o !ave seen or e?.erienced great .ain and suffering at so%e .oint in t!eir lives0 and utili2es t!is as a turning .oint in t!eirs0 :ust as it as a turning .oint in !is o n# &unus statesH 6;irst0 I /elieve t!e /est ay to ins.ire a ne or)er is to let !er see first!and t!e real-life .ro/le%s of t!e .oor# I anted 1ur:a!an to !ave !er !eart toug!ed /y t!e reality of .overty#67e arouses t!e .ersonal e%.at!y of ordinary .eo.le# 3!ey t!en reac! a transfor%ative .oint as t!ey see /y t!eir o n actions t!ey need no longer continue to /ear t!e suffering of ot!ers# (y acting0 ot!ers %ay t!en relieve t!eir o n suffering %e%ories of e?.osure to t!at e?.erience# Professor &unus c!allenges t!e .olicies of t!e International $onetary ;und on t!e glo/al stage0 and t!is strongly cou.les it! !o !e sees o..ortunities to e?.and %icrofinance in .laces t!at t!e Corld (an) !as or intends to create a foot!old# &unus !as also /een an outs.o)en international critic of t!e .olicies of t!e Corld (an) @C(A0 !ere !e at first single !andedly0 and t!en later it! increasing international su..ort fro% t!e 8nited 1ations0 uncovered t!e ay t!at t!e .oor ere su..ressed /y t!e granting of %onies0 e4ui.%ent0 and %an.o er to t!e ruling !ierarc!y0 t!ere/y reducing t!e o..ortunity for %eaningful social c!ange fro% t!e lo est levels u.# Entre.reneurs are generally tas)-oriented leaders as t!ey are t!e ones it! t!e secret ingredient to t!eir idea# 3!ey need to .ossess t!e s.ecific c!aracteristics !ic! e%/ody t!is leaders!i. style# 3 o co%.onents of t!e c!aracteristic of tas)-related leaders are .assion and courage# It see%s to /e t!e nor% of t!e entre.reneur to co%.letely t!ro t!e%selves onto t!eir ai%0 or)ing relentlessly to ac!ieve t!eir goal# 3!ey also .osses courage for ta)ing /old ris)s and acce.ting res.onsi/ility !en so%et!ing fails# 3!is c!aracteristic tends to .ut a strain in .ersonal relations!i.s !ic! as sadly t!e case for $u!a%%ad &unus# 8.on .ursuing !is vision0 !is ,- year %arriage /ro)e do n and !e !ad to leave !is ife and /eloved c!ild to .eruse !is vision of a .overty free orld#
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"oo#s

3!ree ;ar%ers of >o/raI "e.art%ent of Econo%ics0 C!ittagong 8niversityI ,*74 Planning in (anglades!H ;or%at0 3ec!ni4ue0 and Priority0 and Gt!er EssaysI Rural 9tudies Pro:ect0 "e.art%ent of Econo%ics0 C!ittagong 8niversityI ,*75 >ori%on and Gt!ersH ;aces of Poverty @co-aut!orsH 9aiyada $ana:urula Isala%a0 Arifa Ra!%anAI 'ra%een (an)I ,**, 'ra%een (an)0 as I 9ee itI 'ra%een (an)I ,**4 (an)er to t!e PoorH $icro-+ending and t!e (attle Against Corld PovertyI Pu/lic AffairsI 2--3I I9(1 *78-,-58548-,*8-8 Creating a Corld it!out PovertyH 9ocial (usiness and t!e ;uture of Ca.italis%I Pu/lic AffairsI 2--8I I9(1 *78-,-58548-4*3-4 (uilding 9ocial (usinessH 3!e 1e Bind of Ca.italis% t!at 9erves 7u%anityEs $ost Pressing 1eedsI Pu/lic AffairsI 2-,-I I9(1 *78-,-58548-824-5

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!onclusion
3!e orld<s /iggest a ard for .eace !as /een given to a %an !o started a /an) for .oor .eo.le in (anglades!# 8sually0 !en e t!in) of !eroes !o fig!t for .eace0 e !ave in %ind /rave soldiers !o stand u. against aggressors0 or .residents !o sign .eace agree%ents it! t!eir neig!/ors0 or .reac!ers !o .ersuade t!eir .eo.le to give u. violence# Ce don<t usually t!in) of /an)ers or econo%ists# 9o0 %ost .eo.le did not e?.ect t!e 2--5 1o/el Pri2e for Peace to /e a arded to $r# $u!a%%ad &unus# (anglades! is one of t!e .oorest countries in t!e orld# $r# &unus reali2ed t!at one ay to !el. .eo.le as to lend t!e% %oney so t!at t!ey could start s%all /usinesses# 7e !ad great fait! in t!e .eo.le# 7e /elieved t!at if you gave t!e% t!e c!ance0 %ost of t!e% ould succeed# 3!ey ould earn enoug! %oney to i%.rove t!eir lives J and .ay /ac) t!e %oney t!ey !ad /orro ed# 9o0 in ,*830 !e started t!e 'ra%een (an)0 !ic! %eans village /an)# 3oday0 t!e /an) !as %ore t!an ,0--- /ranc! offices serving 350--- villages# Around *5 .ercent of t!e custo%ers are o%en# 3!e %oney t!ey /orro !el.s t!e% %a)e %ore %oney# ;or e?a%.le0 so%e o%en /orro %oney fro% t!e /an) to /uy stuff to sell at t!e %ar)et# $any o%en !ave turned into successful stall-)ee.ers t!is ay# Gt!ers use it to /uy a co so t!at t!ey can %a)e %oney fro% its %il)# Gne grou. of o%en /oug!t %o/ile .!ones it! t!e %oney t!ey /orro ed# 1o/ody else in t!eir villages !ad tele.!ones# 9o0 t!e Mtele.!one ladiesN .rovided a .u/lic tele.!one service for %oney# 3!e %oney t!ey earn !as !el.ed %illions of villagers to i%.rove t!eir lives# ;ro% !aving :ust one or t o %eals a day0 t!ey can no afford t!ree# 3!ey can .ay for t!eir c!ildren<s education and afford %edicines# 7o ever0 !e says t!at it<s t!e ordinary .eo.le !o !ave %ade 'ra%een (an) a success# M&ou loo) at t!e tiniest village0 and t!e tiniest .erson in t!at villageH a very ca.a/le .erson0 a very intelligent .erson0N !e says# M&ou !ave only to create t!e .ro.er environ%ent to su..ort t!ese .eo.le so t!at t!ey can c!ange t!eir o n lives#N

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$eferences
,# 2# 3# #google#co% # i)i.edia#co% #si%ulconference#co%QclientsQso fQintervie sQintervie 7#!t%

4# transformleadership.org/ 5# !tt.HQQ)no ledge#insead#eduQcsrQsocial-entre.reneurs!i.Q%u!a%%ad-yunus-!el.ing-t!eless-.rivileged-unleas!-t!eir-entre.reneurial-s)ills-,*35# www.theguardian.com Professional Social Enterprise Network 7# 'ra%een (an) e/site 8# Gt!ers (oo)s and Gutlet a/out "r#$u!a%%ad &unus *# 3e?t (oo)-Grgani2ation (e!avior

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