REDISCOVERING MUHAMMAD YUNUS

Jabbar presents a methodical and well-researched study of the Grameen Bank and its founder, Dr. Muhammad Yunus.

The author’s stated focus in this work is to simply attempt to “solve the jigsaw puzzle of controversy” around Yunus and the bank he founded in 1976. The Grameen Bank grew to become a major force in microfinancing—an economic tool that grew from an attempt to provide basic financial services, including small loans, to underserved populations into a potential tool for peace through poverty eradication. Indeed, Yunus and the bank were jointly awarded the Nobel Peace Prize in 2006. However, by the time Yunus resigned his managing directorship in 2011, academics and reporters were pursuing several questions about various aspects of the Grameen Bank’s internal and larger business operations. Specifically, they investigated the effectiveness of microfinance as a strategy for alleviating poverty, and there were also questions about the circumstances of Yunus’ stepping down from his role in the bank’s operations. Jabbar spends three pages on the philosophical underpinnings of his “search for truth,” then lays the groundwork for his investigation and eventual conclusions in a grounded, logical fashion. His work is not always as definitive as one might expect from someone who cites the search for truth as a motivation; the word “apparently,” for instance, gets a substantial workout. However, Jabbar shows his work throughout, evenhandedly presenting arguments and counterarguments with cited references. Plus, his prose style is accessible and clear, so that even those not well-versed in Bangladeshi history, economics, or foreign policy can understand his reasoning. This clarity of expression keeps Jabbar’s book afloat, even in the last two chapters, where some of his talking points become repetitive.

A well-constructed and eminently readable study of a prominent economist and his work.