Citizenship Stage 2 Venture

Poverty and Contributions by Muhammad Yunus

Content

Slide No. Content

1 Cover Slide

2 Contents Slide

3 What is Poverty?

4-5 Introduction to Muhammad Yunus

6-7 History and Impact of his Venture

8 Credit of Sources and Team Names

What is Poverty?

• Pronounced deprivation in well-being, and comprises many dimensions.

• It includes low incomes and the inability to acquire the basic goods and services necessary for survival with dignity.

• Poverty also encompasses low levels of health and education, poor access to clean water and sanitation etc.

• It is estimated that at nearly 870 million people out of the 7.1 billion people in the world were suffering from chronic undernourishment from 2010 to 2012 (one in every eight)

• Most people suffering from poverty live in developing countries.

Introduction to Muhammad Yunus• Born on 28 June 1940 to a Muslim family in a village in the

Bengal Presidency of the British Raj, which today forms Bangladesh

• Muhammad Yunus is a Bangladeshi social entrepreneur, banker, economist and civil society leader

• He grew up with 2 sisters and 6 brothers

• He later married Afrozi Yunus, a professor of physics at Jahangirnagar University, Savar Dhaka

• Muhammad Yunus and wife Afrozi Yunus has 2 daughters, Monica and Deena Yunus

• His fields of study are Microcredit Theory and Development Economics

Introduction to Muhammad Yunus• He studied in his village school before his family moved to the

city of Chittagong, thus moving to Lambazar Primary School

• He later passed the matriculation examination from Chittagong Collegiate School, ranking 16th of 39000 students in East Pakistan

• In 1957, he enrolled in the Department of Economics at Dhaka University and completed his Bachelors Degree in 1960 and Masters in 1961

• After graduation, Yunus joined the Bureau of Economics as a research assistant to the economics researches of Professor Nurul Islam and Rehman Sobhan

• In 1961, he was appointed lecturer in economics in Chittagong College

History and Impact of Muhammad Yunus’ Venture• The Grameen Bank was founded in 1983, its name meaning

“Village Bank”

• The bank makes microcredit loans to the impoverished without requiring collateral

• Microcredit loans are based on the concept that the poor have skills that are under-utilized, and with incentive, they can earn more money

• Muhammad Yunus based the setting up of the bank on the positive result of a research project to study how to design a credit delivery system to provide banking services to the rural poor

History and Impact of Muhammad Yunus’ Venture• As of January 2011, the total borrowers of the bank number

8.4 million, and 97% of those are women

• This number was more than double since 2003

• As of October 2007, the bank has a staff of more than 24,703 employees, its 2,468 branches provide services to 80,257 villages

• In 1994, Grameen Bank received the Independence Day Award which is the highest government award

• In October 13, 2006, Muhammad Yunus and the GrameenBank was awarded the 2006 Nobel Peace Prize "for their efforts to create economic and social development from below."

Credit of Sources and Team Names

• http://en.wikipedia.org/wiki/Grameen_Bank

• http://en.wikipedia.org/wiki/Muhammad_Yunus

• http://www.muhammadyunus.org/

12 (I) Trio

SSG/3 Philip Ong

SSG/3 Nicholas Teo

SSG/3 Joel Tan