Yunus may thank God for becoming 1.21 million euros richer, but his compatriots, thousands of poor artisans, thank God for sending them Muhammad.
Not a prophet or a saint, he was merely the first to think that even very poor people who want to work should be allowed to borrow.
He gave his first loan of ?7 to the poor who were making bamboo chairs in the street. Muhammad took the money out of his pocket in 1974, and it was the modest beginning that has brought Yunus to his global triumph.
The Norwegian Nobel Committee said in a press release on granting the prize to Yunus: "Lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty."
It sounds fantastic, but it is true: not a sweet-talking politician or a courageous hero, but an ordinary banker can help preserve peace in society pushed to the edge by utter poverty.
"Muhammad Yunus has shown himself to be a leader who has managed to translate visions into practical action for the benefit of millions of people, not only in Bangladesh, but also in many other countries." the press release says. "Yunus has, first and foremost through Grameen Bank, developed micro-credit into an ever more important instrument in the struggle against poverty."
When asked in a telephone interview about micro-credits, Yunus said: "People come out of poverty every day. So it's right in front of us what happens and it [micro-credits] can be done globally."
Is he a genius or just plain crazy? But Nobel Peace Prizes are not awarded to madmen.
Yunus does not remember the name of the woman who was making bamboo chairs. He watched for a long time as she worked, and then mustered the courage to speak to her. She told him that she had borrowed money to buy the bamboo sticks for the chairs at a 10% interest, which would leave her with hardly any profit.
The idea came to the would-be Nobel Peace Prize winner in a flash. There are millions of such poor artisans, and lending money to them at a very low interest or even free would help them survive and give them jobs.
But the artisans thought him crazy when he took ?7 out of his pocket and said he would give the money to them if 42 people assumed mutual responsibility and pledged to guarantee repayment.
The group was soon formed and the artisans started working. Although they did not sell all of their output, they collected enough to repay Yunus' first loan. His former debtors saw that they were able to work, sell their output, repay loans and even earn a little profit.
The spirit of enterprise descended not only on Yunus, but also on his new clients.
Later he convinced respected bankers and the government to help him establish the Grameen Bank. His main clients were "legal entities," as we say now, though this is not quite correct. They were groups of people who collectively signed for the loan and assumed responsibility for each other. They probably provided some collateral for the micro-credits.
Today the bank stands firmly on its feet and has about 1,000 branches. Two-thirds of its clients are women, and only 2% fail to repay loans.
The experience of the Bangladeshi banker is being successfully applied in the United States, Canada, France, Norway and the Netherlands.
Money can save or ruin people, and unlimited wealth is as dangerous as hopeless poverty. Banker Muhammad Yunus, who acted humanely, deserves the public respect and recognition represented by the Nobel Peace Prize.
