Tuesday, January 2, 2007

Nobel Winner Yunus: Microcredit Missionary

Economics professor Muhammad Yunus wasn't afraid to turn the rules of banking upside down.
Editor's Note: Bangladesh's Muhammad Yunus and the bank he founded, Grameen Bank, which created a new category of banking by granting millions of small loans to poor people with no collateral—helping to establish the microcredit movement across the developing world—won the Nobel Peace Prize on Friday. On its Web site, the Norwegian Nobel Committee said it awarded the prize to Yunus, 65, and the bank "for their efforts to create economic and social benefit from below."

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