UNITED ARAB EMIRATES
Topic initiated on Saturday, October 14, 2006 - 7:06 AM
|Mohd Yunus, Grameen Bank win Nobel .congrats|
Bangladeshi Muhammad Yunus and the Grameen Bank were awarded the Nobel Peace Prize for their work in advancing economic and social opportunities.
The economist and his bank, who will share the prize, were cited for their efforts to help "create economic and social development from below" in their home country.
Yunus used innovative economic programmes such as microcredit lending. "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 Nobel Committee said in its citation.
"Being in poverty means that you are not contributing your talent, your energy, your creativity into the marketplace to benefit everybody else," said Yunus.
"We should be removing poverty not for the person himself or herself. It is for us too. Because denying ourselves the brilliant ideas and productivity and ingenuity of all those one and a half billion people is a terrible loss," he said.
Mohammad Younus wins nobel award
Edited by: raushan on Saturday, October 14, 2006 7:07 AM