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A Professor of Economics, Muhammad Yunus established the bank as a way of giving economic self-determination to some of the most underprivileged people in the world. His efforts have also inspired the formation of several other similarly modelled institutions throughout the world. Offering microfinance to the less privileged, it gives security and hope to millions. Muhammad Yunus’s experiment micro-lending, which bypassed the traditional institutions, was successful. He decided to repeat the model again and again, laying the groundwork for the formation of the Grameen.
