This lecture by microfinance pioneer and Nobel Peace Prize winner, Muhammad Yunus, outlines the history of microfinance - the origins of the idea, how it works, and what the future holds. Microfinance is a fascinating and empowering innovation in finance, and essentially deploys the power of the market to help people help themselves. The main point is to help people in poverty to be able to become entrepreneurs; be it buying a goat to milk, or chickens to lay eggs to sell, or buying a sewing machine, or bike; the point is to provide low cost financing on a small scale to empower people to lift themselves and their families out of poverty through small business. Thanks to technology and the internet we can all now easily participate in microfinance through websites like Kiva - think of it like microfinance 2.0
Prof. Muhammad Yunus is a Bangladeshi economist and founder of the Grameen Bank, an institution that provides microcredit to help its clients establish creditworthiness and financial self-sufficiency. In 2006 Yunus and Grameen received the Nobel Peace Prize. Yunus himself has received several other national and international honors.
He is a member of advisory board at Shahjalal University of Science and Technology. Previously, he was a professor of economics at Chittagong University where he developed the concepts of microcredit and microfinance. He is the author of Banker to the Poor and two books on Social Business Models, and a founding board member of Grameen America and Grameen Foundation.
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Finance Documentaries: http://www.financedocumentaries.com/2012/11/a-history-of-microfinance-muhammad-yunus.html