Entrepreneurial power and Socio-Economic policies shown by Mr. Yunus. His step to change the cycle of poverty is extremely successful. A micro-created system changed the way lending for poor.
Grameen Bank is a specialized Bank, works with microcredit, for the mass poor people, established in 1983.
The concept mainly come through a Pilot Project, back in 1976, under the Economics Professor of CU Mr. Md. Younus.
The project was initiated in Jabura Village, in Chittagong, to find out the possibility of Banking activity among the poor people.
Grameen Bank Project was born in the village of Jobra, Bangladesh, in 1976. In 1983 it was transformed into a formal bank under a special law passed for its creation. It is owned by the poor borrowers of the bank who are mostly women. It works exclusively for them. Borrowers of Grameen Bank at present own 94 per cent of the total equity of the bank. Remaining 6 percent is owned by the government.
Presentation includes Introduction to Microfinance Industry, Business Process, Strategies, Key Challenges, Future Outlook and Special Issues like Urban Microfinance & Rating of Microfinance Institutions
Entrepreneurial power and Socio-Economic policies shown by Mr. Yunus. His step to change the cycle of poverty is extremely successful. A micro-created system changed the way lending for poor.
Grameen Bank is a specialized Bank, works with microcredit, for the mass poor people, established in 1983.
The concept mainly come through a Pilot Project, back in 1976, under the Economics Professor of CU Mr. Md. Younus.
The project was initiated in Jabura Village, in Chittagong, to find out the possibility of Banking activity among the poor people.
Grameen Bank Project was born in the village of Jobra, Bangladesh, in 1976. In 1983 it was transformed into a formal bank under a special law passed for its creation. It is owned by the poor borrowers of the bank who are mostly women. It works exclusively for them. Borrowers of Grameen Bank at present own 94 per cent of the total equity of the bank. Remaining 6 percent is owned by the government.
Presentation includes Introduction to Microfinance Industry, Business Process, Strategies, Key Challenges, Future Outlook and Special Issues like Urban Microfinance & Rating of Microfinance Institutions
The story behind the first concerted effort to make financing accessible to the world’s poorest is the stuff of folklore. Befitting the goal of poverty alleviation, the setting for this early experiment was a time of great tragedy in Bangladesh, one of the poorest countries in the world. A small country in the Indian subcontinent with a population of 130 million, a gross national product (GNP) per capita of about $300 and a literacy rate of only 38 percent for those over 15 years of age, 1 Bangladesh experienced drought and famine in 1974 that killed 1.5 million people (Macfarlane 2002). Having recently completed studies as a Fulbright scholar in the United States, Professor Mohammad Yunus was lecturing on economic theory at Chittagong University and growing increasingly frustrated at his inability to ease his neighbours’ suffering.
Microfinance Forum 2008 (2.Applicability Of Mf To The World)Living in Peace
2008年11月28日に世界銀行東京ラーニングセンターで行われたマイクロファイナンス・フォーラムの資料です。
2.Applicability Of Mf To The World
世界におけるマイクロファイナンスの適用可能性-グラミンモデルの複製事業からの学びについて
Abul Kalam氏 (グラミン銀行 シニアプリンシパルオフィサー)
※Living in Peace(リビング・イン・ピース)について
本フォーラムの主催団体であるLiving in
Peaceは、経済開発に関心のある金融機関関係者を中心に2008年10月に設立されました。その他にも公務員、国際機関関係者、学生などがメンバーになっており、2009年4月にNPO法人格を取得いたしました。また現在、ミュージックセキュリティーズと提携してマイクロファイナンス・ファンドの組成準備中です。(HP:http://www.living-in-peace.org/
旧Blog;http://d.hatena.ne.jp/microfinance/)
Professor Dr. Muhammad Yunus is a Bangladeshi investor and financial expert. He is the creator and originator of the idea of microcredit, the expansion of little credits to business visionaries too poor to even think about meeting all requirements for customary bank advances. Yunus is likewise the author of Grameen Bank. In 2006, they were mutually granted the Nobel Peace Prize, "for their endeavors to make financial and social improvement from beneath.
The Grameen Bank (in Bengali, Grameen means rural) which Dr. Yunus has worked in the course of the most recent 22 years is today the biggest rural bank in Bangladesh. It has more than 2 million borrowers and works in 35000 villages in a nation of 68000 villages. 94% of its borrowers are ladies. The bank depends on simple, reasonable principles, careful association, imagination and companion pressure among borrowers. The break that Grameen Bank offers is an insurance free credit, once in a while identical to only a couple
U.S. dollars and once in a while more than $100. In rural areas , it makes things happened. 98% of its advances are respected. Consequently he has transformed into reality a way of thinking that the least fortunate of the poor are the most meriting in the land and that given the chance they can lift themselves out of the soil of neediness. His thoughts consolidate free enterprise with social obligation.
Micro-credit concept is presently being rehearsed in 58 nations. In the US, it is a success even with the Shifting poor of Chicago's hardest location. The United States alone has more than 500 Grameen side projects. Bill Clinton said in his election that Yunus merited a Nobel Peace Prize and refered to the Experiment of Dr. Yunus as a model for reconstructing downtown areas of America. Pilot projects are beginning in Britain.
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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2. History
Bank Founder: Muhammad Yunus
Inspired by the Bangladesh famine of 1974
1976: Test in the village of Jobra and other villages
surrounding the University of Chittagong
1976-1979:Tangail test
The project was transformed into an independent bank, on
October 02, 1983
3. History
In the initial years, agencies used to provide a lots of loans at
very cheap rates
90’s : bank started to get most of its funding from the central
bank of Bangladesh
Grameen has started bond sales as a source of finance
Today the bank is owned by borrowers 90% and the
government 10%
5. Muhammad Yunus
Born 1940 in Bangladesh
1971, Ph.D in economics from Vanderbilt University
1976, inspired by Jobra village’s women
1983, Establishing Grameen Bank
2006 Nobel Prize
2011 Fired from Gameen Bank
6. Awards :
Nobel Peace Prize
October 13, 2006 ~ The Nobel Committee awarded Grameen
Bank and its founder, Muhammad Yunus, the 2006 Nobel
Peace Prize, for their efforts to create economic and social
development from below.
“From modest beginnings three decades ago, Yunus has, first and foremost
through Grameen Bank, developed micro-credit into an ever more important
instrument in the struggle against poverty. Grameen Bank has been a source of
ideas and models for the many institutions in the field of micro-credit that have
sprung up around the world.”
Only business corporation to have won a Nobel Prize
7. Awards
• Muhammad Yunus has won a number of other
awards
– 1978 President’s award
– 1994 World Food Prize
– 1998 Indira Gandhi Prize
– 2006 Mother Theresa Prize
– 2009 Presidential Medal of Honnor,
awarded by Barack Obama
– 2010 Congressional Gold Medal,
awarded by the U.S Congress
• Yunus received 48 honorary doctorate degrees from universities from Argentina,
Australia, Belgium, Canada, Japan, USA;Spain…
8. Micro-Credit Strategy
Objective: To promote financial independence
among the poor
Encourages all borrowers to eventually become
savers
Known for “Solidarity Lending” (over 43 countries)
– each borrower must belong to a five-member group
– not required to give any guarantee for a loan to its member
– repayment responsibility only rests on the individual borrower
– no form of joint liability
Incorporates a set of values embodied in
Bangladesh by the Sixteen Decisions
9. The sixteen decisions to live in
dignity
Respect the four principles of the GB
Provide good living standards for families
Repair dilapidated houses and work to build new
ones.
Cultivate vegetables the whole year round and sell
the surplus
Pick out seedlings during the season for planting
Raise small families, reduce expenses to a minimum
and take care of health.
10. The sixteen Decisions
• Educate children and ensure their earning
capability
• Ensure cleanliness of children and homes
• Build latrines and use them.
• Drink water drawn from wells only. If not,
boil the water or use alum.
• Refuse mariage dowry for sons and not give
one to daughters at their marriage.
11. The sixteen Decisions
• Cause harm to no one and not tolerate
anyone who does.
• Make important investments in common to
increase our income.
• Always be ready to help each other.
• Help and restore order if we lear that
discipline is not respected in a centre.
• Introduce physical culture in all centres and
to take part in all social events
12. Related ventures
The Grameen family of organizations has grown
beyond Grameen Bank into a multi-faceted group of
profitable and non-profit ventures.
Grameen Family of Enterprises:
o Grameen Trust, Grameen Fund, Grameen Communications, Grameen
Shakti (Grameen Energy), Grameen Telecom, Grameen Shikkha
(Grameen Education), Grameen Motsho (Grameen Fisheries),
Grameen Baybosa Bikash (Grameen Business Development),
Grameen Phone,Grameen Software Limited, Grameen CyberNet
Limited, Grameen Knitwear Limited
13. Grameen Telecom
In Bangladesh 97% of houses lack of telephone,
making the nation one of the least wired in the
world.
Objectives:
To provide easy access to telephone services, all
over rural Bangladesh
Telephone as a new weapon against poverty.
14. Grameen Shakti
The goal is to promote and supply renewable
energy technology at an affordable rate to rural
households of Bangladesh.
Renewable energy applications for poor rural
people is becomes a reality.
15. Grameen Danone foods
A joint venture launched by Danone and Grameen in
March 2006, Grameen Danone Foods is a usual
business but benefits are reversed to the poors.
The mission of Grameen Danone Foods speaks for
itself: to reduce poverty by bringing health through
food to children using a unique community-based
business model.
16. Grameen Foundation
Grameen Group is also present at the
International .
Grameen Foundation provides microfinance
institutions (MFIs) in poor communities, like in
Bangladesh.
As of August 2007, it has provided support to 138
replication partners in 37 countries of the world.
They are for example in Egypt ,Cameroon,
Bolivia, Mexico ,India ,United States…
17. Breaking the vicious cycle of
poverty through microcredit
Intensive discipline, supervision, and servicing
characterize the operations of the Grameen Bank,
which are carried out by "Bicycle bankers" in branch
units with considerable delegated authority.
The rigorous selection of borrowers and their
projects by these bank workers, and pressure to
succeed for borrowers are the keys to success.
18. Micro-Credit Programs
Struggling Members Program
2003, started a new program exclusively targeted
the beggars of Bangladesh
distributing small loans to beggars
existing rules of banking are not applied, the loans
are completely interest-free, the repayment period
can be arbitrarily long
e.g. Beggar taking a small loan of around 100 taka
(about US $1.50) can pay only 2.00 taka (about 3.4
US cents) per week. The borrower has a life
insurance free of cost.
19. Operational Statistics
Borrowers own 94%, and the remaining 6% is owned by the
Government of Bangladesh
Huge growth between 2003-2007
o October 2007, the total number of borrowers of the bank
approaches 8 million, and 98% of those are women
o 2003, the bank had only 3.12 million members
The bank has distributed Tk 347.75 billion (USD 6.55 billion)
in loans
Tk 313.11 billion (USD 5.87 billion) has been repaid
Loan recovery rate is 96.5% in 2009, which is lower than in
2003 (99% )
20.
21.
22.
23.
24.
25. Contreversies
Methods
Bring communinties into debt they cannot escape
The Danone Case
accusation of “aldultered” yogurt.
Anti-islamic
Accused, to force women to disobey their husband
“Caught in micro-debt”
A norvegian documentary accusing yunus of diverting money and
changing its borrowers annual interest rate