Global Hero

Truly a hero for our times. Most particularly at this time when wars, civil unrest, nations beleaguered by interior and exterior threats struggle to maintain themselves. Here is the life's work of a modest man, a good Muslim activist for change, one who has devoted himself to alleviating the plight of the poor where he can. The Nobel Peace Prize was awarded this year of 2006 to one who is truly deserving of that recognition, quite unlike some of the past recipients to whom this world renowned prize has been given.

Muhammad Yunus launched his vision, a concept of providing meagre loans to very poor people in underprivileged settings, within newly-developing economies. Economies which, in reflection of all capitalist economies awards loans to those whom it deems will pay back loans with healthy interest, conventionally excluding the poor.

It is not just in third-world economies that the poor cannot find the relatively few dollars they need to pull themselves out of their dire living conditions, but in developed countries as well. His theories and his practical solutions will spread, contrary to received wisdom, to enrich and potentialize the lives of those in the developed world.

It has always been easy to discriminate against the poor, because they are poor and they have no one willing to trust their innate abilities, their need to better themselves, their desire to provide the material wherewithal for their families; their potential to prosper. Mr. Yunus is that rarest of people, an economist with a clear and undiluted vision, the recognition that all people are imbued with similar needs and poverty should not be the end of the story.

He realized that very small (micro) loans would be sufficient for people who had absolutely no credit, no money, to enable them to initiate very small beginnings. A penny made is a penny saved, and poor people living in critically insecure situations began to feel empowered by these scant funds made available to them - for the purchase of livestock (one hen, then another, eventually a flock), an earning device (sewing machine, one garment produced, another client assured).

Mr. Yunus began to experience his expectations. The poor people to whom life-saving loans were granted when no other avenue was open to them, slowly but surely paid back their loans with interest. And they were thus able to establish a good credit rating, enabling them to make additional loans whereby they were able to grow their small businesses. And his bank made a modest profit, and the idea grew as the people began to prosper.

Now he is also pioneering the placement of suitably small but efficient banks situated within villages which the people living there can make direct contact with. These same banks are the outreach of his original idea of microcredit. Mr. Yunus has restored ability and capability and pride among an indigent population which, because of lack of opportunity stayed poor with all the attendant woes that brings upon people; lack of shelter and food and medical treatment. Lack of hope.

This is a revolution in thought and action.