Rediscovering Muhammad Yunus
How the founder of the Grameen Bank lost his glow after the glitter
by Mohammad Jabbar

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In 2006, Bangladeshi economist Muhammad Yunus made history by bringing the Nobel Peace Prize home to the micro-finance institution he had pioneered, the Grameen Bank, based on the idea that micro-credit model was such a meaningful tool for poverty alleviation that it could contribute to true and lasting peace., This win would swiftly become mired in controversy. Yunus would go on to try and fail to enter electoral politics. He resigned from the position of the managing director of the bank amid controversy about the legality of holding that position for a decade beyond official retirement age and about the mode of creation and management of dozens of grameen affiliated enterprises. In a tight, thorough investigation, Rediscovering Muhammad Yunus takes a look at its eponymous figure and institution, detailing how Yunus came to found the Grameen Bank, win the Nobel Prize, and eventually find himself plagued by controversy. Author Mohammad Jabbar details the contending version of events, thoughtfully drawing out the fallacies of Yunus’s positions to reveal a much more complex, opaque story of what led to his departure from the bank—and the questions that have dogged him and his brainchild since. Whether or not they are familiar with Yunus’s story, this book is sure to interest those looking to enrich their understanding of development and economics—particularly as they relate to micro-finance and Bangladesh. It will make an excellent addition to the bookshelves of anyone interested in the shady underside of philanthropy, capitalist solutions to poverty, and the “development” of the so-called developing world.

www.majabbar.com

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“Thoroughly enlightening. Must read for both admirers and critics of Dr. Yunus” – Professor Shamsul Alam, ex-Minister of State for Planning, Government of the People’s Republic of Bangladesh and ex-Member, General Economics Division, Planning Commission “The greatest paradox about Dr. Yunus is his high achievement and endless controversy. Critically looking at the available facts and evidence, this book masterfully explains the underlying reasons behind the paradox. A fascinating reading” – Professor Rezaul Karim Talukder, Former Food Security Adviser, FAO-Bangladesh

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MOHAMMAD JABBAR is a teacher, economist, researcher, and writer who has been closely following the Grameen Bank and its activities since its founding in 1983. He holds a master’s degree in agricultural economics from Bangladesh Agricultural University, Mymensingh and a PhD in the same discipline from the University of Wales, UK. He taught economic development and agricultural policy at BAU for nearly twenty years, during which time he also provided advisory and research services to the Bangladeshi government. He went on to serve as senior agricultural economist and team leader at the International Livestock Research Institute, headquartered in Nairobi, Kenya, for nineteen years, where he conducted and supervised research on agricultural development and policy issues in a number of African and Asian countries. A credible writer on issues of development and economics with well over two hundred published works - some pertaining to credit—, Jabbar is perfectly positioned to conduct an excavation of the real story of Dr. Yunus and the Grameen Bank. Since his retirement from ILRI, Mohammad has lived in Dhaka, Bangladesh with his wife, Sultana.

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Contributors

Author

Mohammad Jabbar

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