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1-Page Summary of Banker to the Poor

A Creative Childhood

Muhammad Yunus was born in 1940. He grew up in Chittagong, a commercial city of some three million people in the southeast of the Indian state of East Bengal (which became part of Pakistan in 1955 and then of Bangladesh in 1971). The third of 14 children (five died in infancy), Yunus lived with his family in a small two-story house. His father, Dula Mia, a devout Muslim, owned and ran a successful jewelry shop on the ground floor. While generally lenient, Yunus’ father insisted that his children study; otherwise discipline was left to Yunus’ mother Sofia Khatun who was her son’s strongest influence. Fortunately studying wasn’t an issue for him as he enjoyed reading books as well as other hobbies like photography and drawing while also working with an artist at one point.

The Good Boy Scout

Yunus was a part of the Boy Scouts while he attended secondary school. He hiked, played games, participated in variety shows and discussions and raised money for his troop. The scouts helped him to see the world by taking him on trips to Canada, Japan and the Philippines. They also took him across India by train to attend a national jamboree with other scouts from Pakistan. His headmaster had an influence on Yunus as well. It taught him that he could be a leader if he thought high and channeled his passions into something positive.

Yunus was passionate about teaching. He first taught his little brothers and then continued teaching in college. He obtained a Fulbright scholarship to study in the United States, where he earned a Ph.D. from Vanderbilt University under Nicholas Georgescu-Roegen, who told him that it’s best to solve problems with simple solutions rather than complicated ones.

Yunus was raised to believe that he would have an arranged marriage, but in 1967 a woman introduced herself to him and they married. She was Vera Forostenko, a Russian-born graduate student in literature. They settled near Middle Tennessee State University where Yunus taught at the time. However, their life together did not remain quiet for long.

In 1971, the Pakistani army invaded East Pakistan to suppress the independence movement. The people of East Pakistan decided to fight for their independence and declared Bangladesh an independent nation. Yunus joined them in this effort by forming a committee that would work with other Bengalis in America to get support for Bangladesh’s cause. He traveled to Washington D.C., where he spoke at Capitol Hill, held demonstrations and lobbied ambassadors from various nations so they’d recognize Bangladesh as an independent country.

Once, an ambassador asked Yunus’ group a simple question that made them think: “Do you have your own government?” They didn’t, so they decided to create one. Working with other expatriates, they established their own government. The war continued in Bangladesh and eventually, on December 16th 1971 (after 9 years), the country gained its independence. Finally, Yunus left the U.S., returning home to help build his newly independent nation.

After returning to Bangladesh, Yunus joined the Planning Commission of the new government. However, he wasn’t given any significant responsibilities in his role there and quit after a while. He then went back to Chittagong University where he was made department head of the Economics Department.

The Practical Professor

In 1974, Bangladesh was suffering from famine. Yunus noticed that fields suitable for farming were not being used in the midst of a starving population. He and his students investigated to find out why this was happening. They found that there wasn’t enough irrigation technology. Yunus started working with local villagers, trying to help them grow high-yield rice through better irrigation methods and agricultural cooperatives funded by himself.