Muhammad Yunus: Micro Loans Making a Macro Difference


He is known as the ‘Banker to the Poor’, Bangladesh’s Muhammad Yunus was the winner of the Nobel Peace Prize for 2006, a man whose vision to overcome abject poverty one small loan at a time has birthed a truly revolutionary idea that has the potential to, in fact, change the world for the better.

Professor Yunus will visit Australia in less than two weeks to speak at the Global Leadership Forum, where he will share his insights about the capacity of every individual for great entrepreneurship and vision, a capacity that many people, most people in fact, do not know that they possess.

Yunus also has a special connection with Sydney that pre-dates his appearance at the Global Leadership Forum.  Prior to his nomination for the Nobel Peace Prize in 2006, he was the recipient of the Sydney Peace Prize in 1998.

In a recent interview, Professor Yunus explained that at least half of the recipients of the credit that is given by his organisation, the Grameen Bank, is given to women, who in developing countries are often invisible in terms of receiving the vital capital injection needed to start their own business, and to move out of the cycle of poverty.  He explained that many financial institutions actively discriminate against women, including in his home country of Bangladesh, where women make up less than one per cent of all of the borrowers.

Yunus said he made a conscious decision to change that profile.  Indeed, he found that the benefit to the recipients who were women far outweighed the positive benefits of loans given to men – meaning that a micro-loan to a woman had the capacity to lift first a whole family and then an entire community out of poverty, and that for women the transformation out of poverty happens faster for a woman than a man in most cases.

He says that without credit and the potential to escape poverty, this is the breeding ground for many social ills, including terrorism.  He said it is poverty that makes young men vulnerable to the lure of religious and political extremism, and to becoming involved in terrorist activity, many of whom undertake such acts as a way to support their families.

To learn more from this quiet revolutionary, Yunus along with fellow innovators and entrepreneurs Jeff Taylor, founder of Monster.com and Michael Fertik (founder of Reputation.com); business tycoon and media heavyweight Martha Stewart, music industry legend Russell Simmons, screen legend and human rights activist George Clooney, will visit Sydney in December for the Global Leadership Forum, hosted by The Growth Faculty, and proudly supported by Publicity Queen.

For more information about the Global Leadership Forum, and to book tickets, click here.  For media enquiries about the Global Leadership Forum, including the six speakers who will appear at the event, contact Valerie MacIver: valerie.maciver@publicityqueen.com.au

Yours in PR

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1 Comment »

  1. […] this week on this blog we shared insights from Muhammad Yunus, a man who had an idea that has literally changed the world, and although he works in an entirely […]


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