Which bank shared the 2006 Nobel Peace Prize with Muhammad Yunus?

Which bank shared the 2006 Nobel Peace Prize with Muhammad Yunus? Grameen Bank shared it with him. The Norwegian Nobel Committee honored Yunus and the bank for their efforts to create economic and social development from below.

Founded in Bangladesh by economist Muhammad Yunus, Grameen Bank became internationally known for pioneering modern microcredit. It extended small loans to people who were often excluded from conventional banking, especially poor rural women, usually without requiring traditional collateral. The model relied heavily on group responsibility and community-based lending.

The Nobel announcement came on 13 October 2006, and the prize ceremony took place on 10 December in Oslo. Grameen Bank’s borrowers and investors were represented at the ceremony by Mosammat Taslima Begum, whose first loan had helped her buy a goat and build a small enterprise.

A common mistake is to describe Yunus as the sole recipient. The award was jointly made to Muhammad Yunus and Grameen Bank, recognizing both the founder’s work and the institution that developed and spread the microcredit model.