Social entrepreneurship
- 1. Social Entrepreneurship Citizenship Stage 2
- 2. Chosen Entrepreneur : Muhammad Yunus Muhammad Yunus was born in Chittagong , British Raj (Bangladesh) on 28 June 1940. He was the third of nine children born to Hazi Dula Mia Shoudagar and Sufia Khatun. In 1949, he passed the matriculation examination from Chittagong Collegiate School securing the 16th position among 39,000 students in East Pakistan. Following his graduation, Yunus joined the Bureau of Economics as a research assistant to the economical researches.
- 3. Muhammad Yunus During the Bangladeshi liberation war of 1971,he funded a citizen’s committee and ran the Bangladesh information centre, with other Bangladeshis living in the united states he helped raised support for the liberation war, financially . After the war he returned to bangladesh and was appointed to the Government’s planning commission however he found the job boring and soon left and joined as Head of department of economics in Chittagong University.
- 4. Muhammad Yunus History In 1976, during visits to the poorest households in Jobra ,a village near Chittagong University, Yunus discovered that very small loans could make a huge difference to a poor person. The village women who made bamboo furniture had to take out usurious (Immoral,unethical) loans for buying bamboo, to pay their profits to the moneylenders. His first loan, consisting of US $27 from his own pocket, was made to 42 women in the village, who made a net profit of US $0.02 each on the loan.
- 5. Muhammad Yunus Impact From his experience in Jobra, Yunus realized that the creation of an institution was needed to lend those who had nothing. Tradition banks did not want to run the risk of making tiny loans at reasonable interest rates due to high repayment risks. Yunus believed that a chance should be given to the poor. Thus he set up Grameen Bank ( Village Bank ), which would make loans to poor Bangladeshis. As of July 2007, The bank has issued US $6.3 billion worth of loans to 7.4 million borrowers. As a result of his efforts , he was recognized with the Nobel peace prize in 2006 ,along with Grameen bank being the first ever Bangladeshi to receive the prestigious prize.
- 6. Credits Team members : SGT Neo Wei Xiang SGT Tan Jing Jie SSG Teh Yang Jie Sources : www.wikipedia.com