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LESSON-10 BANKER TO THE POOR
Dr. Muhammad Yunus
Affiliation: Grameen Companies
Location: Grameen Bank Bhavan, Mirpur-1
Birthday: June 28, 1940
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Muhammad Yunus, pronounced Muhammôd
Iunus; born 28 June 1940 is a Bangladeshi
economist and founder of the Grameen Bank,
an institution that provides microcredit (small
loans to poor people possessing no collateral)
to help its clients establish creditworthiness
and financial self-sufficiency. In 2006 Yunus
and Grameen received the Nobel Peace Prize
"for their efforts through microcredit to create economic and social development from below".
Yunus himself has received several other national and international honors.
He is a member of advisory board at Shahjalal University of Science and Technology.
Previously, he was a professor of economics at Chittagong University where he developed the
concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to
qualify for traditional bank loans. He is the author of Banker to the Poor and two books on
Social Business Models, and a founding board member of Grameen America and Grameen
Foundation. Grameen Intel is just one of hundreds of public and private partnerships now
mediated through Youth & Yunus. In early 2007 Yunus showed interest in launching a political
party in Bangladesh named Nagorik Shakti (Citizen Power), but later discarded the plan. He is
one of the founding members of Global Elders.
In March 2011, after months of government attack, the Bangladesh government controversially
fired Yunus from his position at Grameen Bank, citing legal violations and an age limit on his
Bangladesh's High Court affirmed the removal on 8 March. Yunus and Grameen
Bank are appealing the decision, claiming Yunus' removal was politically motivated.
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Write on Dr. Muhammad Yunus’s world on ‘what you know about microcredit’.
Activity 2: BBC QUIZ
Take the quiz posted on the link below. Then discuss with your partner about possible
1. The __________ for the dollar is very good just now. We should change dollars into euros
a) interest rate b) credit rating
c) money rate d) exchange rate
2. My salary always runs out before the end of the month. Everything's so expensive just now.
I don't know how I'd manage without __________.
a) getting my pocket money from the bank b) lending money to my bank
c) having an overdraft d) sticking to my budget
3. We've found our ideal house but we're not rich enough to be able to buy it straight away.
We'll need to go to the bank to see if they'll give us _________.
a) interest b) a deposit
c) some capital d) a mortgage
4. We'll need to invest more ___________ if we want to expand our business. You know what
they say, you have to spend money to make money.
a) return b) capital
c) interest rate d) wages
5. We got a loan from the bank to buy a new car. We have to ___________ it over the next two
a) repay b) pay
c) return d) give
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Activity3: Individual work
Now in the Dialogue below you would come across several terms that are related to
banking. Can you identify at least 05 banking terminologies from the conversation and list
them below and explain what you understand by these terms:
At the Bank
Farhad: Hello. I’m Farhad Reza, the Accounts manager. What can I do for you?
Maruf: Hi. My name is Maruf Ahmad and She is my wife, Lisa. We’ve just moved into town and
would like to open a bank account.
Farhad: What kind of account would you like to open?
Maruf: We want to open a savings account.
Farhad: How much would you like to deposit today?
Maruf: I have 500 taka in cash as well as a salary check for Tk.12,000.
Farhad: Okay. I’ll get you the application forms to fill out. You’ll receive your new bank cards in about
two weeks. Once you have chosen your PIN, you’ll be able to use the bank machine for deposits,
withdrawals, bank transfers and payment of bills.
Maruf: Is there a service fee for this type of account?
Farhad: There is no fee for a regular savings account. However, for a fee of 200 Taka a month, we offer
full on-line banking services. Would you be interested in that service?
Maruf: Yes, that sounds good. We’ll take it. Do you have a 24 hour ATM?
Farhad: Yes, of course. We also have a 24 hour ATM service at the side of the building.
Maruf: When do you send out the monthly statements?
Farhad: On the 5th of every month. I’ll take your forms now. You can endorse your check and go over
to the teller. She’ll handle your deposit for you.
Maruf: Do you have any credit card option for this type of account.
Farhad:Well no savings account holders are entitled to credit card. However, if you are interested to avail
a credit card, you can open a current account with us which will also be inclusive off all the services I
mentioned about a regular saving account.
Maruf: You mean online banking and ATM service also.
Maruf: Can I and my wife both use the same credit card.
Farhad: Yes of course! All you need to do is include your wife as joint applicant of the Current
Maruf: Then we would open a current account in joint name instead of the savings account.
Farhad: Well , I think you made the right choice now!
Maruf: Thank you very much. You’ve been very helpful.
Farhad: You’re quite welcome. Hope to see you again soon.
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Activity 4: Pair work
Now Exchange your ideas with your partner about these banking terminologies and find
out what is the most credible meaning.
Activity 5: Individual work
ODD ONE OUT: Circle the word in each group that does not belong or sounds odd to the
other. Explain why.
1. Teller, manager, statement, security guard__________________________________________
2. Safety deposit box, ATM, cash machine, bank machine
3. Security number, PIN, telephone number, personal identification number
4. Deposit, teller, withdrawal, transfer
5. sign, deposit, endorse, write your name
6. Overdraft, negative balance, extra money, not enough money
7. Payroll check, personal check, money from employer, paycheck
8. Cash, bills, check, coins
9. Take out, deposit, withdraw, remove
10. Traveler’s check, teller, money order, cash
Activity 6: Group Discussion
Expressing Giving Opinion/disagreeing
Topic1: Grameen Bank is the model of micro credit success that helped to reduce poverty in
Topic2:The success of Grameen Bank is profit oriented. Not people oriented.
Topic3:Dr.Muhammad Yunus has been awarded Nobel Prize for peace whereas he should have
been awarded for Economics.