or poor person for their customers. Secondly‚ it must ensure that the possibility of its own sustainable development. The beginning of the activity was most closely associated with economist Muhammad Yunus in 1976. He was born in Bangladesh. Between 30 years‚ the success of Grameen Bank which was built by Yunus was noticed by the world. Then‚ microfinance has covered nearly development countries and some developed counties. In the case of the text book‚ microfinance was present by two extreme parts
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by Muhammad Yunus is the story of the Grameen Bank Program‚ which is founded in Bangladesh by Yunus to help the poor. Born in 1940 in the city of Chittagong‚ Professor Yunus studied at Dhaka University in Bangladesh‚ and then received a Fulbright scholarship to study economics at Vanderbilt University. He received his Ph.D. in economics from Vanderbilt in 1969 and the following year became an assistant professor of economics at Middle Tennessee State University. Returning to Bangladesh‚ Yunus became
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.............................................................. 11 1 HAMIDREZA MAGHAZEH 110033960 CONCERTIVE CONTROL SYSTEM 2013 How would you describe the system of control in the Grameen Bank? Muhammad Yunus‚ an economics professor‚ thinks that the poor have skills that remain unor under-utilized‚ mainly because current institutions and policies fail to offer the support these people require. He founded the Grameen Bank in 1976 to supply credit to
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Turkish Grameen Microcredit Program The Turkish Grameen Microcredit Program‚ applying the Grameen microcredit model developed jointly by the Turkish Foundation for Waste Reduction of Turkey and 2006 Nobel Peace Prize Laureate Professor Dr. Muhammad Yunus and working in direct collaboration with him‚ was launched in Diyarbakir on July 18‚ 2003 with the first microcredit checks given out by Prime Minister Mr. Recep Tayyip Erdogan. To date‚ the Program runs successful operations in Diyarbakir(with
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References: 1. Yunus‚ Mohammad.(2010). Building Social Business: The New Kind of Capitalism That Serves Humanity’s Most Pressing Needs. 2
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Banker to the Poor: The Autobiography of Muhammad Yunus Author: Muhammad Yunus Copyright: 2003 Introduction Banker to the Poor narrates the life of Muhammad Yunus and his conception of the micro-lending institution‚ Grameen Bank‚ to provide help to the poor. Yunus had a dream of providing help the poor to be able to help themselves. He believes that if the poor can receive financial help in the form of very small loans and are taught some basic principles of financial management‚ they will learn
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In Candace Allen’s article titled “The Entrepreneur as Hero”‚ she introduced that every society needs heroes. First she said that heroes go to the unknown. Second is the encountering of the hardship and challenges. Third is the return with something new. The author tries to compare the pattern of the hero to the entrepreneur‚ finding themselves in a difficult situation then finding ways to get a solution. Furthermore‚ she also mentioned that “The heroic entrepreneur will continue to anticipate what
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describes business as an obligation or worry. One could say the definitions are “all work.” On the other hand‚ when one looks up the definition of social business‚ words like new‚ future‚ and sustainability are associated with it. According to Muhammad Yunus’ seven principles of Social Business‚ the number one objective of social business is to overcome societal problems (cite). This begs the question of whether or not free enterprise can be preserved while people are granted equality‚ capitalism
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apply for traditional loans due to lack of credit history and/or collateral. Micro-financing is a great tool to create venture capital for those who would have no other means to secure it. The primary goal of micro lending‚ as established by Muhammad Yunus‚ the godfather of microcredit‚ is to eliminate poverty by means of giving all the opportunity to be self-sustaining with long term solutions. The principle of micro financing is the mutual benefit of relationship between microfinance institutions
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Examining the Success of Microcredit in Bangladesh Microcredit‚ which provides small loans to those in poverty‚ has rapidly increased in third world countries‚ such as Bangladesh‚ over recent decades. Muhammad Yunus‚ who started a lending organization called the Grameen Bank‚ developed this program in the 1970s. There has been a great amount of success in reaching millions of borrowers‚ most of whom are women. The loans are often provided to pay for start-up costs of small businesses‚ and
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