Analysis Mohammed Yunus and the Grameen Bank

Topics: Bangladesh, Microfinance, Muhammad Yunus Pages: 3 (1089 words) Published: May 4, 2013
Are Mohammed Yunus and the Grameen Bank behaving unethically? Or there has been some kind of misunderstanding or misinterpretation of the facts? His words has charisma but hidden inherit selfish motivation which encourage to do business with poor for making money! He loves to give profit to multinational and or to privileged not to poor! If we deeply read his foot prints and Grameen Bank's history on making big capital from 2.8 cores to 2900 core, anyone can understand blue print of exploitation! The money is coming from poor peoples' installments that are systematically design with high rate interest of compound circle system! With false social business innovative approach he has cleverly established 50 plus companies with the brand of Grameen in which profits are not going to Grameen Bank and or to rural poor who need supports really for a minimum standard of life. TRANSCRIPT OF TESTIMONIES

Musamad Mariam (negative)
Twenty years ago we were helpless when the Grameen Bank first came! They gave us loan with installments and we received. The first 4-5 years we ran smoothly; after sometime it became a burden, as yield of crops declined and income dropped. We were suffering very badly, but still we paid our installments by selling our valuable personal assets. Some of us sold necessary things - cattle, poultry, even ornaments to run the installments. Still some of us could not finish the installments! This is our reality! I heard the name of Dr. Yunus. We were told about him at the workshop. He is the first person of the Grameen Bank. They said, 'You are also owner of Grameen Bank'. Actually we are not owners; we did not get any extra benefit from them! We paid compulsory installments! We know and follow this only! We did not get additional benefits. To pay installments we have sold cattle, necessary materials even ornaments. Zobeda Begaum (negative)

They say, even if someone dies, you have to pay installment! We are forced to pay installments! There is no other...
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