Md. Ashikuer RahamanLecturer of Bachelor of BusinessAdministrationWorld University of Bangladesh (WUB)
Md. Shariful Islam (Shishir)ID: wub01/09/25/966Roll: 966Semester: 7thBatch: 25th (A)Program: BBAWorld University of Bangladesh (WUB)
Grameen Bank was started in 1976 by Muhammad Yunus as an experimental project to combat rural poverty by providing credit to the very poor in 1983 Grameen Bank became established as a formal bank which provides small, collateral-free credit to rural poor rural people mainly women, for income- generating activities. As of July, 2005, Grameen Bank disbursed $5.0 billion in loans to 5.0 million borrowers, 96 per cent of them women, with a repayment rate of 99%. It June 2005 it Lents out about $ 2.5 million-a-day (working day) in tiny loans averaging around $130.
The main objective of Grameem Bank isdeveloping our rural area by proper use ofits key element.
According to World Bank (2006), “Ruraldevelopment is a strategy designed to improvethe economic and social life of a specific groupof people-the rural poor.”Most of the people in Bangladesh live in village.More than 50% of the countrys GDP comesfrom the rural sector. Development of thissector is thus crucial for national development.
For a country like Bangladesh, rural developmentis important. The reason behind this is that most ofthe people of the country are living in the villages.There is a direct link between the rural developmentand the development of our national economy. Therural sectors contribute about two-thirds of theGDP. We can achieve our cherished goal of financialdevelopment by the development of our villageswhich hold the key to our success.
Poverty alleviation and raising the livingstandards of the rural poor; Equitable distribution of income and wealth;Wider employment opportunities;Participation of the local people in planning,decision-making, implementation process,benefit sharing, evaluation of ruraldevelopment programmes, andEmpowerment or more economic and politicalpower to the rural masses to control the useand distribution of scarce resources.
1. Housing For the PoorGrameen Bank introduced housing loan in 1984 It became a very attractiveprogramme for the borrowers . so our rural area will be developed.
Microcredit”mean agricultural credit, or rural credit, or cooperative credit, orconsumer credit, credit from the savings and loan associations, or from credit unions,or from money lenders. When someone claims microcredit has a thousand yearhistory, or a hundred year history, nobody finds it as an exciting piece of historicalinformation.
Grameen Communications is one of the largest IT-based solutionproviders in Bangladesh, concentrated on Micro Finance Softwaredevelopment, Implementation, Hardware Support, Training andProject Support relating to Rural Development
The higher education loan programme wasintroduced in 1997 for the children of Members ofGrameen Bank so that they can pursue education atthe highest level. Since its inception, the programmehas distributed 20,886 loans amounting to Tk. 621.42million (US$ 9.41 million). During 2007, 7,205 studentswere sanctioned higher eduction loans. Khulna zonehas the most number of students (1,805) receivingHigher Education Loans, with Jessore Zone second(1,324). The Atalia Dumuria Branch under KhulnaZone has given the highest number of student loans(106).
Up to December, 2007Degree/Discipline Number Amount (Taka)Masters (General) 960 18,835,488Bachelor degree (Honours) 18,664 566,235,905MBA 50 1,188,925BBA 203 5,318,800B. Sc. (Engineering) 420 11,264,305M. Sc. (Agriculture) 63 1,709,600B. Sc. (Agriculture) 292 8,465,925Degree in Medicine 234 8,405,375
Grameen Bank has 31 network, some of them are follow bellow.1) Grameen Fisheries : Grameen Fisheries Foundation (GMF) was created by Grameen Bank as a non-profit organization in February, 1994 to mitigate poverty through aquaculture & fisheries activities
2) Grameen Telecom (GTC) Grameen Telecom (GTC) was established in 1995 as a not-for-profit company established by Dr. Muhammad Yunus for improving the standard of living and eradication of poverty from rural Bangladesh with the help of Grameen Bank.GTC owns 38% share in GrameenPhone (GP) and its dedicated for development of ICT in rural Bangladesh.The Companys unique product the Village Phone (VP) program commenced on 26 March 1997 .3) Grameen Communications(1997) It has been providing complete systems solution through developing software products and services, internet services, hardware & networking services and IT education services since its inception in 1997 under the Companies Act, 19944) Grameen Trust (1989) As a result of the success of Grameen Bank in reaching and serving the poor with credit, many people and organizations began to think in Grameens way.5) Grameen Shakti/Energy (1996) Grameen Shakti (GS) is a not-for-profit rural power company whose purpose is to supply renewable energy to unelectrified villages in Bangladesh. GS expects not only to supply renewable energy services, but also to create employment and income-generation opportunities in rural Bangladesh.
6) Grameen Knitwear Limited (1997) This company is a 100% export oriented composite knitwear factory, located in the Export Processing Zone in Savar in the vicinity of Dhaka, the capital of Bangladesh. It has knitting, dyeing, finishing and garments production facilities. that creates rural development 7) Grameen Kalyan: GRAMEEN KALYAN is a “not for profit” company established in 1996 under the Companies Act, 1994 of Bangladesh. GK is also registered under the Foreign Donation (Voluntary Activities) Regulation Ordinance, 1978 from NGO Affairs Bureau of Bangladesh for developing our rural area by improving education, health, technology & other things.
Loans of Grameen Bank for developing ruralconditionLoans Paid Off At DeathLife InsuranceDepositsPension Fund for BorrowersLoan Loss ReserveRetirement Benefits Paid OutGetting Elected in Local BodiesComputerised MIS and Accounting System
Contribution ASA 10% Other 9%BRAC Grameen Bank 23% 58%