The Grameen Bank was fully established as an independent bank in 1983, and today more than 250 institutions in nearly 100 countries operate microcredit programs based on the Grameen Bank model.
Muhammad and Grameen Bank were jointly awarded the Nobel Peace Prize in 2006 "for their efforts to create economic and social development from below." In 2009 Muhammad was also awarded the U.S. Presidential Medal of Freedom, and in April 2013, a U.S. Congressional Gold Medal.
The UN Secretary-General appointed Muhammad to the International Advisory Group for the Fourth World Conference on Women in Beijing from 1993 to 1995. Muhammad has also served on the Global Commission of Women's Health (1993-1995), the Advisory Council for Sustainable Economic Development (1993-present), and the UN Expert Group on Women and Finance. He also serves as the chair of the Policy Advisory Group (PAG) of Consultative Group to Assist the Poorest (CGAP).