Professor Dr. Muhammad Yunus Muhammad Yunus is a banker to the poor and economist who was born on 28 June 1940 in Bangladesh. He was a professor of economics and is famous for his work in microcredit. Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983 to help the poor by giving out small loans. He turned the idea into Grameen Bank‚ which has made small loans to more than 7.5 million people now. His first loan was $27 given from his own pocket. This $27 was loaned to
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Grameen Bank‚ How Muhammad Yunus Inspires The World to Solve Poverty Written by Gatot Haryadi Introduction Poverty is number one of the world problem. United Nation set “End Poverty and Hunger” as number one in Millennium Development Goal that should achieve in 2015. Grameen Bank is Bank that operates in Bangladesh since 1976 focusing giving loan to the poor. When other bank reluctant to give loan to the poor‚ Grameen Bank did it very well. Until now Grameen Bank has 8.35 million borrower‚
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The phenomenon of Bangladesh Grameen Bank Bangladesh Grameen Bank (Grameen) is an important phenomenon of modern times. The brainchild of Dr. Mohammed Yunus‚ a US educated professor who came to teach at Bangladesh’s University of Chittagong‚ Grameen is the pioneer of Microfinance. Microfinance‚ a lending practice for the poorest of the poor‚ which was conceptualised by Dr. Yunus in the course of his field work with his students in Bangladesh‚ has now spread across the world (Holcombe‚ 1995‚ p 4
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Introduction: Grameen Bank (GB) has reversed conventional banking practice by removing the need for collateral and created a banking system based on mutual trust‚ accountability‚ participation and creativity. Grameen Bank provides credit to the poorest of the poor in rural Bangladesh‚ without any collateral. At Grameen Bank‚ credit is a cost effective weapon to fight poverty and it serves as a catalyst in the overall development of socio-economic conditions of the poor who have been kept outside
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Grameen Bank | | |[pic] | |Type |Body Corporate (Bank Ordinance) | |Industry |Finance | |Founded |1983 | |Headquarters |Dhaka‚ Bangladesh
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Professor Muhammad Yunus (Yunus)‚ then Head of the Rural Economics Program at the University of Chittagong‚ observed that banks did not extend their credit schemes to the rural poor as they were not considered creditworthy. In this situation‚ the rural poor were forced to approach moneylenders who charged exorbitant rates of interest. In 1976‚ Yunus launched The Grameen Bank Project‚ on an experimental basis to study the framework of banking services for the rural poor. The objectives of the Grameen Bank
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Grameen Bank: Taking Capitalism to the Poor Evaristus Mainsah* MBA ’04 Schuyler R. Heuer MBA ’04 Aprajita Kalra MBA/MIA ’04 Columbia Business School Columbia University School of International and Public Affairs Qiulin Zhang MPA ’04 Columbia University School of International and Public Affairs This paper was written as part of the course Emerging Financial Markets taught by David O. Beim‚ professor of professional practice‚ at Columbia Business School in fall 2003. The authors are
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Muhammad Yunus: Lifting People Worldwide out of Poverty: Knowledge@Wharton (http://knowledge.wharton.upenn.edu/article.cfm?articleid=2243) Muhammad Yunus: Lifting People Worldwide out of Poverty Published : May 27‚ 2009 in Knowledge@Wharton What began with a loan of $27 to 42 women in a small village 33 years ago has grown into a global microcredit movement that has changed the lives of millions of poor people around the world. Muhammad Yunus‚ founder and managing director of Bangladesh’s
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http://www.fe-bd.com/index.php?ref=MjBfMDlfMTZfMTJfMV85Ml8xNDM1ODg= VOL 20 NO 157 REGD NO DA 1589 | Dhaka‚ Sunday‚ September 16 2012 Grameen Bank: Interest of borrowers be safeguarded‚ Yunus’ prestige protected Dr Yunus seems to have given more emphasis on social business than microcredit. The deposit of the poor was diverted to social business and his Yunus Centre is working through out the world to promote social business. The noble laureate did not possibly divert GB fund to other institutions
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service himself has a personal experience and feel of being with the customers. Muhammad Yunus himself being a resident of the Jobra village knew exactly the problem that the community was facing and hence he could very well cater to the needs of the destitute by providing them tailor-made lending services which can maintain a balance between their earnings and repayment rates. 2. The biggest strength of Grameen Bank lies in bringing financial services to poor people and making it financial sustainable
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