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Professor Muhammad Yunus

Professor Muhammad Yunus

Chancellor of Albukhary International University (AIU) | Nobel Peace Laureate | Founder of Grameen Bank

Albukhary International University (AIU) is honoured to welcome Nobel Peace Laureate Professor Muhammad Yunus, Founder of Grameen Bank, as its first Chancellor. This appointment reflects Professor Yunus’s lifelong dedication to advancing humanity through social innovation. His values and vision strongly align with AIU’s Philosophy, Vision, and Mission—focused on developing adaptable, balanced, and service-driven individuals committed to creating positive change in their communities through a social business approach. (Albukhary International University, 2024)

Academic Journey & Early Life

Professor Muhammad Yunus was born on June 28, 1940, in the village of Bathua, Chittagong, Bangladesh. He pursued his higher education at Dhaka University and, in 1966, received a Fulbright Scholarship to study economics at Vanderbilt University, USA, where he earned his Ph.D. in Economics in 1970.

In 1971, he was appointed as Assistant Professor of Economics at Middle Tennessee State University. He returned to his home country and took on the role of Head of the Economics Department at Chittagong University. Over the years, Professor Yunus has held several significant roles, including:

  • • Professor of Economics, Chittagong University
  • • Director, Rural Economics Programme, Chittagong
  • • Deputy Head, Economic Development Division, Planning Commission
  • • Cabinet Minister Advisor
  • • Currently serving as the Chief Advisor of Bangladesh (Yunus Centre, 2023)

Founder of the Grameen Bank

Motivated by a deep desire to combat poverty, Professor Yunus founded the Grameen Bank in 1983. The bank was established to empower underprivileged individuals—particularly women—by providing microcredit services enabling them to achieve financial independence and sustainability (Yunus, 2007).

“Poverty is not created by poor people. It is created by the system we have built.” — Muhammad Yunus (Yunus, 2007)

Today, Grameen Bank:

  • • Operates in over 100 countries
  • • Serves over 8.4 million members
  • • Has disbursed over USD 12.5 billion in loans (Grameen Bank, 2024)

Global Contributions & Advisory Roles

From 1993 to 1995, Professor Muhammad Yunus was appointed by the UN Secretary-General to be part of the International Advisory Group for the Fourth World Conference on Women. His commitment was further reflected in his active roles, including:

  • • The Global Commission on Women’s Health
  • • Advisory Council for Sustainable Economic Development
  • • UN Expert Group on Women and Finance (United Nations, 1995)

He continues to play a pivotal role in advising international organizations on issues related to microfinance, women’s empowerment, and social entrepreneurship.

Awards & Recognition

Professor Yunus has received numerous international honours, including:

  • • Independence Day Award (1987), Bangladesh’s highest recognition
  • • Mohamed Shabdeen Award for Science (1993), Sri Lanka
  • • CARE Humanitarian Award (1993), USA
  • • World Food Prize (1994), USA
  • • King Hussein Humanitarian Leadership Award (2000), Jordan
  • • Volvo Environment Prize (2003), Sweden
  • • Nikkei Asia Prize for Regional Growth (2004), Japan
  • • Franklin D. Roosevelt Freedom Award (2006), Netherlands
  • • Seoul Peace Prize (2006), Korea
  • • Nobel Peace Prize (2006), jointly awarded with Grameen Bank for their efforts to create economic and social development from below (Nobel Prize, 2006)

He is also a board member of the United Nations Foundation (United Nations Foundation, 2023).

Related Links:
AIU Chancellor Muhammad Yunus receives Olympic Laurel