Muhammad Yunus was born in Bangladesh in 1940. He is considered the inventor of microfinance. Yunus studied economics in Dhaka and at Vanderbilt University in Nashville. In 1974, Prof Dr Yunus started issuing loans on a small scale in Bangladesh. His country was facing a lot of poverty and underdevelopment. Prof Dr Yunus's first loan he paid himself to women in the village of Jobra. These women made furniture from bamboo. With the profits, the women were able to support their families. Prof Dr Yunus studied the structure and organisation of village communities, experimenting with new forms of governance. The aim was participation of all inhabitants, so everyone would feel more responsible. In 1980, the government adopted this model and applied it throughout Bangladesh. In 1976, Prof Dr Yunus established the Grameen Bank. It was meant to help poor people who were not entitled to traditional credit. In this way, poor people were empowered to engage in economic activities. Prof Dr Yunus and Grameen Bank introduced the system of solidarity groups to make the risks of non-repayment small. The aim was social control and self-responsibility.

Grameen's activities expanded further. Now loans were also provided for housing, small-scale irrigation works, agriculture, fishing and opening savings funds. The goal remained the same: to help people in need towards a better future. In 25 years, more than 30 countries followed suit. Millions of entrepreneurs, over ninety per cent of whom are women, were helped through microcredit.

Later in 2006, Prof Dr Yunus and the Grameen Bank received the Nobel Peace Prize. Prof Dr Yunus became one of the ten members of the international society The Elders.