Grameen Bank : Bank of Poor
Grameen
Bank has given a revolutionary concept in banking. Methodology of
Grameen Bank is almost the reverse of the conventional banking. "If you
have more,you can get more and if you have nothing, you can get nothing "
conventional banking systems run on this principle. But half of
present world population have nothing as a result they are deprived of
the financial services of the conventional banks.Grameen Bank had come
forward to give a solution to this dilemma. Grameen Bank was established
in 1983 by Dr. Muhammad Yunus, a professor of economics to examine the
possibility of designing a credit delivery system to provide banking
services targeted to the rural poor.The concept Microfinance applied by
Grameen bank was really original when it was started.It is now
considered one of the best effective, flexible, and sustainable strategy
in the fight against global poverty. Microfinance consists of making
small loans, usually $50 to $200, to individuals, usually poor village
women, to establish or expand a small, self-sustaining business. Grameen
Bank was started as a research project by Yunus which initial capital
was only $26.Now it becomes a big bank of Bangladesh provides over 5
billion dollars of micro-loans to more than two million families in
rural Bangladesh. Ninety-four percent of Grameen Bank's clients are
women and you will be astonished to know that repayment rates are 98
percent. Grameen Bank believe on people who do not possess anything,but
have potential. It was a craziest idea when he thought. But it paid
off.Grameen Bank has proved a thing that is " the poorest people who do
not posses anything have endless potential.
Grameen Bank is now a Novel recipient Bank. It won the 2006 Peace Nobel Prize with the Professor Yunus.The Nobel Peace Prize committee said that Dr. Yunus and Grameen Bank have done more to help the world than virtually anyone alive today. Grameen Bank has become a standard to eliminate poverty from the world. The methodology of this bank is capable of growing large enough to be available to serve all of the world's poor.
What is said by world leading Newspaper about Grameen Bank and Dr. Muhammad Yunus:
Los Angeles Times
"Muhammad Yunus is a practical visionary who has improved the lives of millions of people in his native Bangladesh and elsewhere in the world. Banker to the Poor [is] well reasoned yet passionate."
New York Times
"The Grameen Bank's record is illuminating and inspiring. This is an aid program that works."
Washington Post
"[Yunus's] ideas have already had a great impact on the Third World hearing his appeal for a 'poverty-free world' from the source itself can be as stirring as that all-American myth of bootstrap success."
Some quotes From Professor Yunus:
"It takes a dollar to catch a dollar "
"The only place where poverty should be is in museums".
"We have to get out of this mindset that the rich will do the business and the poor will have the charity."
Grameen Bank is now a Novel recipient Bank. It won the 2006 Peace Nobel Prize with the Professor Yunus.The Nobel Peace Prize committee said that Dr. Yunus and Grameen Bank have done more to help the world than virtually anyone alive today. Grameen Bank has become a standard to eliminate poverty from the world. The methodology of this bank is capable of growing large enough to be available to serve all of the world's poor.
What is said by world leading Newspaper about Grameen Bank and Dr. Muhammad Yunus:
Los Angeles Times
"Muhammad Yunus is a practical visionary who has improved the lives of millions of people in his native Bangladesh and elsewhere in the world. Banker to the Poor [is] well reasoned yet passionate."
New York Times
"The Grameen Bank's record is illuminating and inspiring. This is an aid program that works."
Washington Post
"[Yunus's] ideas have already had a great impact on the Third World hearing his appeal for a 'poverty-free world' from the source itself can be as stirring as that all-American myth of bootstrap success."
Some quotes From Professor Yunus:
"It takes a dollar to catch a dollar "
"The only place where poverty should be is in museums".
"We have to get out of this mindset that the rich will do the business and the poor will have the charity."
Grameen Bank and Professor Yunus
Grameen Bank logo
Professor Dr. Muhammad Yunus
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