Since 1980 is the Grameen Bank an example of an successful social enterprise. For many people its success proved that a social enterprise could make a heathty profit without subsidies and that the concept of a social enterprise could be a social and financial success. Muhammed Yunus the owner of the Grameen Bank (GB) is the inventor of microcredit loans. Microcredits are very popular in Asian countries and the GB has the biggest market share in the Bangladesh (Muhammed Yunus 2005: 1). Yunus argues that microcredit is the new solution to poverty, because it`s stimulates the economics of the poorest societies without making people dependent of gifts or hurting their ego. Even the poorest people can get a loan because microcredit doesn't need material capital. Everybody can achieve their goals independently, with their own blood sweat and tears (Ibid.: 2). What he says is true, but what many people dont know is that there is a dark side to micro credits as well, because the loans had unexpected consequences in societies.
The concept sounds simple enough; the Grameen Bank (GB) gives mini loans to the poorest people in the most deserted places. These loans are meant for building houses or small companies that could improve as well the community by raising buying power as well increase the living standard of the loaning family. This is possible because the GB doesn't uses capital to reimburse its loan and investment, but social pressure. A loan is given to a group of women and they are together responsible to paying the monthly repayments, with their reputation within the group and community as collateral (Aminur Rahman 2007: 67). That means that their honor, social status and health depend on paying the monthly repayments. And there lays the first crux.
Honor is very important in the Bangladeshi society. There is an immense pressure to fulfill your part of the repayments because of the... [continues]
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