ENTREPRENEURSHIP

Detailed explanation-1: -Thus, Yunus is credited with the idea of microcredit. In December 1976, Yunus finally secured a loan from the government Janata Bank to lend to the poor in Jobra. The institution continued to operate, securing loans from other banks for its projects. By 1982, it had 28, 000 members.

Detailed explanation-2: -Muhammad Yunus is often considered the father of microfinance. In 2006, he won the Nobel Prize for his “efforts through microcredit to create economic and social development from below.” In this TED talk, Yunus describes his experience with microfinance.

Detailed explanation-3: -Photography: Jared Leeds Muhammad Yunus won a Nobel Peace Prize for spreading the concept of microcredit-tiny loans to help poor people start businesses-via his Bangladesh-based Grameen Bank.

Detailed explanation-4: -According to Yunus from Grameen Bank’s standpoint and more lender-oriented approach, “Microcredit is the extension of small loans to entrepreneurs too poor to qualify for traditional bank loans.”

Detailed explanation-5: -Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983, fueled by the belief that credit is a fundamental human right.