His Majesty King Abdullah on Sunday sent a cable of congratulations to Professor Muhammad Yunus, who shared the 2006 Nobel Peace Prize with the Grameen Bank he founded in 1976.

The bank has given small loans to more than 6.6 million people since its inception.

In his cable, the King said he and Her Majesty Queen Rania wished Yunus the best in his efforts to enhance grassroots' participation in development efforts.

He said Jordan is proceeding with its support of microcredit, adding that the partnership between the public and the private sectors, along with civil society institutions, has guaranteed local communities access to microfinance sources.

King Abdullah highlighted the key part played by the National Microfinance Bank in this field, and Professor Yunus' leading role in the institution as a board member.

Yunus, a recipient of several awards, was awarded the first King Hussein Humanitarian Leadership Prize on November 14, 2000, the anniversary of the late King Hussein's birthday, at a ceremony held in Amman.

Grameen Bank has reversed conventional banking practice by removing the need for collateral and created a banking system based on mutual trust, accountability, participation and creativity.

The Jordan Times