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Banker to the Poor
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About the Author

Muhammad Yunus was born in 1940 in Chittagong, a seaport in Bangladesh. The third of fourteen children, five of whom died in infancy, he was educated at Dhaka University and was awarded a Fulbright scholarship to study economics at Vanderbilt University. In 1972 he became the head of the economics department at Chittagong University. He is the founder and managing director of the Grameen Bank.

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Bangladesh, a country the size of Florida with a population of over 120 million people, is the home of Grameen Bank, the inspiration of economist Yunus, Bangladesh-born and U.S.-trained. Instead of spending his life as a university economics professor, Yunus decided in the mid-1970s to develop a micro-lending program to help the poorest people of his country. Yunus based the program on his strong belief that the very poor do not need complicated training programs to improve their economic lot. They need money, in the form of loans. This program has empowered thousands of peopleÄmany of them womenÄand surprised experts in economic development who never believed that the very poor would find the initiative and ability to repay even the smallest ($25-$500) loans. Grameen ("of the village") Bank has developed into an internationally acclaimed and replicated method for assisting the impoverished in Malaysia, the Philippines, Nepal, and even the United States. Definitely recommended for larger public and academic libraries.ÄOlga B. Wise, Compaq Computers, Austin Copyright 1999 Cahners Business Information.

"[Yunus's] ideas have already had a great impact on the Third World, and ... hearing his appeal for a 'poverty-free world' from the source itself can be as stirring as that all-American myth of bootstrap success."--Washington Post
"Muhammad Yunus is a practical visionary who has improved the lives of millions of people in his native Bangladesh and elsewhere in the world. Banker to the Poor [is] well-reasoned yet passionate."--Los Angeles Times
"By giving poor people the power to help themselves, Dr. Yunus has offered them something far more valuable than a plate of food - security in its most fundamental form."--President Jimmy Carter
"I only wish every nation shared Dr. Yunus's and the Grameen Bank's appreciation of the vital role that women play in the economic, social, and political life of our societies."--Hillary Clinton
"A fascinating and compelling account by someone who decided to make a difference, and did."--CHOICE

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