Grameen Bank of Bangladesh isfounded by Professor MuhammadYunus in October 1983.It provides modest loans to the poor,known as microcredit or 'GrameenCredit' without requiring collateral. The headquarters of the GrameenBank is located in Dhaka,(Bangladesh). Muhammad Yunus was also awardedRamon Magsaysay Award (1984),Gandhi Peace Prize (2000) and NobelPeace Prize (2002).