Actually Bangladeshi economist Muhammad Yunus and the Grameen Bank he founded won the Nobel Peace Prize on Friday for grassroots efforts to lift millions out of poverty that earned him the nickname of "banker to the poor."
Muhammed Yunus,aged 66, set up a new kind of bank in the 1976 to give credit to the very poorest in his native Bangladesh, particularly women, enabling them to start up small businesses without collateral.
I found its interview on Geo TV superb......his vision is really gr8!...he gives Loans to poor women specially who deserves like widows.if u ask me i found him angel for poor Bangali people.he give the world an example of Social Business setup!
Returning from a Fulbright scholarship in the United States, Yunus was shocked by the 1974 Bangladesh famine and headed out into the villages to see what he could do.

He discovered the women were in severe debt to extortionate moneylenders, and Yunus's initial aim was simply to persuade a local bank manager to step in and offer the villagers regular credit. The banker said it was impossible without a guarantee.

Yunus set out to prove him wrong and has never looked back. Grameen - the word means village in Bengali - has now disbursed $5.72 billion since its inception. Of this $5.07 billion has been repaid -- a loan recovery rate of 98.85 per cent.

"Across cultures and civilizations, Yunus and Grameen Bank have shown that even the poorest of the poor can work to bring about their own development," the secretive five-member Nobel committee said in announcing the award.

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