After receiving a Ph.D in economics at Vanderbilt University in the USA Muhammad Yunus went back to his home country Bangladesh to teach economics at Chittagong College in 1962
Because of the ubiquitous poverty surrounding him Muhammad Yunus lent 27 USD to 42 families to pay their debt to local creditors which initially led to the Grameen Bank project in 1976
With the great success of the project, Muhammad Yunus decided to found the Grameen Bank in 1983, becoming one of the fathers of the microcredit concept
Over time, Muhammad Yunus founded many other companies in sectors ranging from healthcare, energy and agriculture to education
In October 2006, Muhammad Yunus and Grameen Bank were jointly awarded the Nobel Peace Prize "for their efforts to create economic and social development from below."
In 2008 Muhammad Yunus founded The Grameen Creative Lab in Wiesbaden, Germany in collaboration with Hans Reitz
Muhammad Yunus has so far received 29 honorary degrees and multiple awards in recognition of his work and his engagement in the fight against poverty around the world
Muhammad Yunus is married and the father of two daughters
