Introduction
Muhammad Yunus Biography: Dr. Muhammad Yunus is a famous economist, entrepreneur, and civil society leader from Bangladesh. He is the interim Prime Minister and the Chief Adviser of the Government of Bangladesh. He has dedicated his life to the poor and needy people. Yunus was born and grew up in a family of nine children on June 28, 1940, in the village of Bathua, Chittagong District of what was then British India. He pursued his academic degrees from Dhaka University and a PhD in Economics from the US.
His most significant contribution to society is microcredit and microfinance provided through Grameen Bank. Which greatly helped in raising the economic level of the poor and backward communities. This creative approach earned him recognition all over the world and won him the Nobel Peace Prize.
Early Life, Family Background, and Education
Dr. Muhammad Yunus was born on June 28, 1940, in the village of Bathua, located in the Chittagong District of what was then British India. He was the third of nine children in a Muslim family. His father, Haji Muhammad Dula Mia Shawdagar, was a jeweler, and his mother, Sofia Khatun, played a vital role in nurturing his childhood. Yunus spent his early childhood in Bathua before his family moved to the city of Chittagong, where he began his formal education at Lamabazar Primary School. Then he enrolled in the Department of Economics at Dhaka University, where he completed his Bachelor’s degree and his Master’s degree. His academic journey continued in the United States, where he received a Fulbright scholarship to study at Vanderbilt University. He earned his PhD in economics, becoming an assistant professor at Middle Tennessee State University shortly thereafter.
During the Bangladesh Liberation War in 1971, Yunus played a significant role from abroad. He established a Citizens’ Committee in Nashville and ran the Bangladesh Information Center in Washington DC. After the war, Yunus returned to Bangladesh in 1972 and joined the Economics Department at Chittagong University. He became gradually aware of the poverty surrounding him. This experience motivated him to focus on poverty alleviation, ultimately leading to the creation of the Grameen Bank and the microcredit movement. It provides small loans to the poor, primarily women, which helps them to start income-generating activities. This innovative approach has been replicated worldwide, and Yunus has received numerous recognition for this work, including the Nobel Peace Prize in 2006.
In addition to his work in banking, Yunus has founded several other companies in Bangladesh to address various aspects of poverty and development. He has also been actively involved in politics, serving as an advisor in the Government of Bangladesh and recently as the Prime minister and Chief Adviser of the interim government since August 2024.
Throughout his career, Yunus has been a champion of social business, which he defines as a non-loss, non-dividend company created to address a social problem. He has authored several books on different topics, including “Creating a World Without Poverty” and “Building Social Business.
Quick Information
| Real Name | Muhammad Yunus |
| Date of Birth | 28 June 1940 |
| Age | 84 years (in 2024) |
| Birth Place | Hathazari, Bengal, British India |
| Height | 5 feet 5 inches / 165 cm. |
| Weight | 65 Kg. / 143 Lbs. |
| Nationality | Bangladeshi |
| Religion | Islam |
| Cast | Muslim Saudagars |
| Zodiac Sign | Cancer |
| Marital Status | Married |
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| Home Town | Kaptai Road, Hathazari, Chittagong District, Bangladesh |
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| Political Party | Independent (2007–Present) |
| Previous Political Affiliation | Nagorik Shakti (2007) |
| Hobbies | Reading, Writing |
| Net Worth | $ 10 Million (Approx.) |
| Contact Number | N/A |
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Personal Life and Relationships
Although Dr. Muhammad Yunus stayed abroad for many years while receiving Western education, he always maintained his family relationship with his religious culture.
In 1970, while studying at Vanderbilt University, Yunus married Vera Forostenko, a Russian literature student. The couple welcomed their daughter, Monica Yunus, in 1979. But later, their marriage faced challenges, and Vera returned to the United States shortly after Monica’s birth. Despite this separation, Yunus has remained involved in Monica’s life, who has pursued a successful career as a singer in New York.
In 1980, Yunus married Afrozi Yunus, a physicist who later became a professor at Jahangirnagar University in Bangladesh. Together, they have a daughter, Deena Afroz Yunus, born in 1986.
Throughout his life, Yunus has balanced his personal and professional roles, often drawing inspiration from his family. His relationships have not only influenced his values but have also played a crucial role in his journey as a social entrepreneur and leader in poverty alleviation.
Frequently Asked Questions (FAQs)
- Who is Dr. Muhammad Yunus?
- Muhammad Yunus is a Bangladeshi economist, banker, entrepreneur, politician, and civil society leader. He is best known for founding the Grameen Bank and pioneering the concept of microcredit, which provides small loans to impoverished individuals to foster entrepreneurship and alleviate poverty. He has been interim Prime Minister and the Chief Adviser of the Government of Bangladesh since August 2024 and was awarded the Nobel Peace Prize in 2006 for his efforts in economic and social development.
- What is Grameen Bank?
- Grameen Bank is a microfinance organization and community development bank founded by Dr. Muhammad Yunus in 1983. It provides small loans (known as microcredit) to the impoverished without requiring collateral. The bank’s model has been replicated in many countries worldwide and has significantly impacted poverty alleviation efforts.
- What major awards has Dr. Muhammad Yunus received?
- Yunus has received numerous awards, the most notable being:
- The Nobel Peace Prize (2006)
- The Presidential Medal of Freedom (2009)
- The Congressional Gold Medal (2010)
- The UNESCO International Simon Bolivar Prize (1996)
- What is Dr. Yunus’s vision as the Prime Minister of Bangladesh?
- The main objective of the interim government is to establish a government according to the wishes of the people by holding elections in Bangladesh. As the interim Prime Minister, Dr. Yunus aims to leverage his extensive experience in economics and social entrepreneurship to address Bangladesh’s economic challenges and promote inclusive development. His vision includes tackling poverty, improving education and healthcare, and fostering sustainable economic growth.
- What is Dr. Muhammad Yunus’s educational background?
- Yunus began his formal education at Lamabazar Primary School, Chittagong. Then he completed his BA and MA in Economics from Dhaka University in Bangladesh. He later received a Fulbright scholarship to study in the United States, where he earned his Ph.D. in Economics from Vanderbilt University in 1971.
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