Microcredit is a financial innovation considered to have originated from the Grameen Bank in Bangladesh, and Muhammad Yunus is its founder. This bank provides collateral-free loans to poor rural women. Women have the opportunity to educate themselves and access health care, and reduce unemployment, so their families and communities prosper. The future of microcredit now looks very promising because it plays an important role in the development of poor families. This system is introduced in both developing and developed countries of the world. The relationship between Muhammad Yunus' Grameen Bank and women's lives is important because it helps poor women to be independent and provide economically for their families. Thanks to microcredit, women are free to earn a living and create small businesses; they become engines of economic growth.Muhammad Yunus is an economist from the University of Chittagong and was born in 1940 in Chittagong, Bangladesh. He was the third of his parents' nine children and was educated in Chittagong. He received a Fulbright scholarship and received his Ph.D. from Vanderbilt University, Nashville, Tennessee. In 1972, he became head of the economics department at the University of Chittagong. He is the founder and managing director of Grameen Bank. In 1997, Professor Yunus led the first global microcredit summit in Washington, DC. Muhammad Yunus' project has grown to serve a total of seven million families in Bangladesh with loans totaling six billion dollars. There are more than 250 institutions in 100 countries that operate according to the principles of Grameen microcredit (Biography). Yunus developed his revolutionary micro-credit system with the belief that it would be a cost-effective and scalable weapon to fight poverty...... middle of paper ......Alex. “The Para Haldar.” Small loans, big dreams: how Nobel Peace Prize winner Muhammad Yunus and microfinance are changing the world. Hoboken, NJ: John Wiley & Sons, 2008: 189-212. Printed. Gangemi, Jeffrey. “Microcredit missionary”. Business week. December 26, 2005: 20-20. Prime Minister of Commercial Source. Internet. January 25, 2011. Khan, Farhana. “Opinion: microcredit changes lives. » The Tech Publish Online Edition 9 September 9, 2008: Vol. 128 Issue 37, February 1, 2011. Yunus, Muhammad. “The stool makers of the village of Jobra.” Banker to the poor: microcredit and the fight against poverty in the world. New York, NY: Public Affairs, 2003: 43-58. Print.Yunus, Muhammad. “One cup of yogurt at a time.” Creating a world without poverty: social enterprise and the future of capitalism. New York, NY: PublicAffairs, 2007: 149-162. Print.