Muhammad Yunus is a Bangladeshi banker, economist and Nobel Peace Prize recipient. He previously was a professor of economics where he developed the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. In 2006 Yunus and Grameen Bank received the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below". Yunus himself has received several other national and international honours. In 2012, he was installed as Chancellor of Glasgow Caledonian University in Scotland, serving in this capacity as the university's titular head. He is also a member of advisory board at Shahjalal University of Science and Technology. Previously, he was a professor of economics at Chittagong University in Bangladesh where he developed the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. He is the author of Banker to the Poor and two books on Social Business Models, and a founding board member of Grameen America and Grameen Foundation. Grameen Intel is just one of hundreds of public and private partnerships now mediated Youth & Yunus. In early 2007 Yunus showed interest in launching a political party in Bangladesh named Nagorik Shakti, but later discarded the plan. He is one of the founding members of Global Elders.