Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983 to provide small, collateral-free loans to poor entrepreneurs and lift people out of poverty. He pioneered the concept of microcredit. The bank makes small loans, usually less than $100, to the poor, especially women, and has over 2 million borrowers with a 98% repayment rate. Yunus was awarded the Nobel Peace Prize in 2006 for demonstrating that the poor can lift themselves out of poverty given access to credit. He has inspired microcredit programs in over 100 countries through the Grameen Bank model of empowering individuals with capital.
- Muhammad Yunus was born in 1940 in Bangladesh and received degrees from Dhaka University and Vanderbilt University. He is known for establishing Grameen Bank in 1983 to provide microloans to the poor without collateral.
- Grameen Bank pioneered microcredit and microfinance by providing small loans known as "microcredit" to impoverished borrowers, mainly women, to engage in self-employment activities.
- Yunus received the Nobel Peace Prize in 2006 for his efforts through Grameen Bank to create economic and social development. He is recognized worldwide for his work in microfinance and efforts to establish economic and social justice.
Dr. Muhammad Yunus established the Grameen Bank in Bangladesh in 1983 to provide microloans to the poor with the goal of helping them lift themselves out of poverty. Since then, the Grameen Bank model has expanded to over 100 countries worldwide. Yunus received the 2006 Nobel Peace Prize for his pioneering work in microfinance and efforts to create economic and social development for the poor. He has received over 100 international awards for his work and continues his advocacy for establishing social businesses.
Dr. Muhammad Yunus is a Bangladeshi economist who pioneered microcredit and founded the Grameen Bank in 1983. He grew up in a village in Bangladesh and received degrees from universities in Bangladesh and the United States. While working as a professor, he began lending small amounts of money to poor villagers which had an outsized impact on their lives and businesses. This led to the founding of Grameen Bank which provides small loans known as microcredit to rural poor in Bangladesh, especially women, to help them engage in entrepreneurship and lift themselves out of poverty. For his work in microfinance, Yunus received the Nobel Peace Prize in 2006.
India's banking sector is booming, with many banks focusing on retail customers by offering internet, phone, and mobile banking services. This has helped banks tap into India's growing middle class. The sector has seen proliferation of new services and adoption of technologies like ATMs, telephone banking, and online banking. Nationalization in 1969 led to increased branches and higher deposits and loans over time.
Muhammad Yunus and his contributions to societyHarman Poh
- Muhammad Yunus founded Grameen Bank to provide microloans to the poor, especially women, to help them start small businesses and alleviate poverty. He overcame challenges like risk of default through group lending. His contributions helped many impoverished Bangladeshis rise out of poverty and inspired others to help the less fortunate.
Muhammad Yunus saw a need to provide loans to poor people in Bangladesh and started small experiments lending money that was repaid. This grew into the Grameen Bank in 1983, which pioneered microloans between $27-500 that allowed the poor to start businesses and pull themselves out of poverty. By 2008, Grameen Bank had loaned over $6 billion to 7.5 million borrowers, mostly women. Based on its success, over 250 other organizations in 100 countries now operate microlending programs based on Grameen Bank's model. Yunus and Grameen Bank won the Nobel Peace Prize in 2006 for their work in creating economic and social development through microfinance.
Narayana Murthy co-founded Infosys in 1981 and served as its CEO until 2002 and Chairman until 2011. He obtained engineering and business degrees in India and worked in the IT industry before starting Infosys. Infosys grew from 7 employees and $250 to a global company listed on the NASDAQ with over 200,000 employees. Murthy helped establish India as a major player in the global outsourcing industry and received many honors for his work and philanthropy.
- Muhammad Yunus was born in 1940 in Bangladesh and received degrees from Dhaka University and Vanderbilt University. He is known for establishing Grameen Bank in 1983 to provide microloans to the poor without collateral.
- Grameen Bank pioneered microcredit and microfinance by providing small loans known as "microcredit" to impoverished borrowers, mainly women, to engage in self-employment activities.
- Yunus received the Nobel Peace Prize in 2006 for his efforts through Grameen Bank to create economic and social development. He is recognized worldwide for his work in microfinance and efforts to establish economic and social justice.
Dr. Muhammad Yunus established the Grameen Bank in Bangladesh in 1983 to provide microloans to the poor with the goal of helping them lift themselves out of poverty. Since then, the Grameen Bank model has expanded to over 100 countries worldwide. Yunus received the 2006 Nobel Peace Prize for his pioneering work in microfinance and efforts to create economic and social development for the poor. He has received over 100 international awards for his work and continues his advocacy for establishing social businesses.
Dr. Muhammad Yunus is a Bangladeshi economist who pioneered microcredit and founded the Grameen Bank in 1983. He grew up in a village in Bangladesh and received degrees from universities in Bangladesh and the United States. While working as a professor, he began lending small amounts of money to poor villagers which had an outsized impact on their lives and businesses. This led to the founding of Grameen Bank which provides small loans known as microcredit to rural poor in Bangladesh, especially women, to help them engage in entrepreneurship and lift themselves out of poverty. For his work in microfinance, Yunus received the Nobel Peace Prize in 2006.
India's banking sector is booming, with many banks focusing on retail customers by offering internet, phone, and mobile banking services. This has helped banks tap into India's growing middle class. The sector has seen proliferation of new services and adoption of technologies like ATMs, telephone banking, and online banking. Nationalization in 1969 led to increased branches and higher deposits and loans over time.
Muhammad Yunus and his contributions to societyHarman Poh
- Muhammad Yunus founded Grameen Bank to provide microloans to the poor, especially women, to help them start small businesses and alleviate poverty. He overcame challenges like risk of default through group lending. His contributions helped many impoverished Bangladeshis rise out of poverty and inspired others to help the less fortunate.
Muhammad Yunus saw a need to provide loans to poor people in Bangladesh and started small experiments lending money that was repaid. This grew into the Grameen Bank in 1983, which pioneered microloans between $27-500 that allowed the poor to start businesses and pull themselves out of poverty. By 2008, Grameen Bank had loaned over $6 billion to 7.5 million borrowers, mostly women. Based on its success, over 250 other organizations in 100 countries now operate microlending programs based on Grameen Bank's model. Yunus and Grameen Bank won the Nobel Peace Prize in 2006 for their work in creating economic and social development through microfinance.
Narayana Murthy co-founded Infosys in 1981 and served as its CEO until 2002 and Chairman until 2011. He obtained engineering and business degrees in India and worked in the IT industry before starting Infosys. Infosys grew from 7 employees and $250 to a global company listed on the NASDAQ with over 200,000 employees. Murthy helped establish India as a major player in the global outsourcing industry and received many honors for his work and philanthropy.
presentation on a successful entrepreneur Al Shahriar
Dr. Muhammad Yunus is the first Bangladeshi to win the Nobel Peace Prize. He pioneered microcredit and founded the Grameen Bank to provide small loans to poor individuals, especially women. Yunus earned his PhD from Vanderbilt University and taught economics before discovering that small loans could make a significant difference for poverty-stricken families. In 1983, he established Grameen Bank to formalize his microcredit work, which has since provided loans to millions of poor families. Yunus won the 2006 Nobel Peace Prize for his microcredit innovations in creating economic and social development.
This project report has been prepared as per the requirement of the syllabus of
MBA course structure under which the students are the required to undertake
project.
It was a first hand experience for us as that we were exposed to the professional
set-up and were facing the market, which was really a great experience.
During project period, I had very touching experiences. When business is involved,
experiences counts a lot, as we know, experience are an instrument, which leads
towards success.
This document provides an analysis of opportunity for promotional strategies for State Bank of India. It begins with an overview of SBI as the largest nationalized commercial bank in India. It then defines various banking services including investment banking, retail banking, commercial banking, private banking, and asset management. It identifies SBI's target markets as current and potential customers in rural areas and tier 2/3 cities. The document outlines SBI's communication objectives of increasing awareness, attention, and purchase actions. It notes factors that affect the communication budget such as company strategy, product life cycle stage, and competitive intensity. Finally, it recommends creating communications strategies that match SBI's strategy and focus on opportunities/threats while fitting the company image, and
The document provides an overview of Mukesh Ambani, the richest person in India and chairman of Reliance Industries Limited. It details his background, education, career history and role in building Reliance into the largest private sector company in India. It also summarizes Ambani's leadership style, corporate social responsibility initiatives, awards, and future plans to expand Reliance's operations into new sectors and technologies.
This document provides an overview of the banking sector in India. It discusses the definition of a bank according to Indian law and the history of banking in India in phases from the 18th century to present day. It also classifies the different types of banks in India including the Reserve Bank of India, public sector banks, private sector banks, cooperative banks, and development banks. The roles of commercial banks and investment banks are explained. Finally, it discusses modern modes of banking transactions such as e-banking, ATMs, debit cards, and credit cards.
BANK OF AMERICA PRESENTED BY ASHISH BORKARAshish Borkar
1. Overview of the Company
2. Brief History of Bank Of America
3. Services offered by Bank of America
4. Major Competitors of Bank of America
5. Geographical Area of BoA
6. Future Plans of Bank of America
Sudha Murthy is an Indian social worker, author and engineer who has made significant contributions to public health, education and social welfare initiatives in India. She co-founded the Infosys Foundation and has established several orphanages, supported rural development and provided computer and library facilities to Karnataka government schools. Murthy had a very successful career as a computer scientist and engineer before transitioning to social work and philanthropy. She continues to actively work on social causes through teaching and writing fiction.
Microfinance refers to small-scale financial services like credit and deposits provided to low-income individuals who lack access to traditional banking services. It aims to help the poor become self-sufficient through saving, borrowing, and insurance. While banks are reluctant to serve these clients due to high costs and lack of collateral, microfinance fills this gap by providing small, affordable loans. Groups like self-help groups and microfinance institutions have successfully delivered microcredit in countries like India and Bangladesh, achieving repayment rates over 95% and helping many escape poverty. However, some criticize that microfinance benefits the moderately poor more than the destitute and can lead to over-indebtedness if not implemented responsibly.
Mukesh Ambani is the Chairman and Managing Director of Reliance Industries Limited, the largest private sector company in India. He owns 44.7% of RIL, making him India's richest person and the second richest person in Asia. Ambani has retained his position as the richest Indian for five years in a row. He has extensive business experience growing RIL and leading initiatives such as the largest oil refinery in India. Ambani lives with his family in Antilia, the most expensive home in history valued at over $1 billion in Mumbai.
Entrepreneurship development programmesDaksh Goyal
As the term itself denotes, EDP is a programme meant to develop entrepreneurial abilities among the people. In other words, it refers to inculcation, development, and polishing of entrepreneurial skills into a person needed to establish and successfully run his / her enterprise. Thus, the concept of entrepreneurship development programme involves equipping a person with the required skills and knowledge needed for starting and running the enterprise.
Women Entrepreneurship - Types & Functionsuma reur
1.Chance Entrepreneurs
2.Created Entrepreneurs
3.Benami Entrepreneurs
4.Natural Entrepreneurs
5. Forced Entrepreneurs
Women Entrepreneur is not different from the concept of Entrepreneur, all the concept characteristics & functions are applicable to Women Entrepreneur. The role of women in family & society is changing very fast. Those days are gone where typically women are expected to look after household activities change in various social aspect like equal treatment to women, no discrimination among male & females availability of equal opportunities to work in any field slowly these changes have forced her to become more competitive & also encouraged into business operations.
Muthoot finance service marketing / gap model / zone of tolerance / moment of...Avinash Kini
Muthoot Finance is India's largest gold financing company, offering gold loans and other financial services through over 4,400 branches across India. The presentation discusses Muthoot's 7P marketing mix, segmentation targeting and positioning, the service quality gap model, zone of tolerance, and moments of truth in customer interactions. Muthoot provides gold loans at competitive interest rates and seeks to position itself as a consumer friendly instant loan provider.
The document is a project report submitted by Arpan Mukherjee to the University of Mumbai for a Bachelor of Management Studies degree. The report examines awareness and usage of e-banking in India. It provides background on the development of e-banking in India, including how private banks have embraced new technologies more readily than public sector banks. The report also analyzes the opportunities and challenges of e-banking adoption in India, such as security concerns, low internet penetration rates, and the need for regulatory clarity.
Sri Ammembai Subba Rao Pai established the Canara Hindu Parliament Fund in 1906, which later became Canara Bank Ltd in 1910. Canara Bank was nationalized in 1969 and has since grown to over 1000 branches. It became the first Indian bank to receive ISO certification for its branch operations. Canara Bank has a vision to pursue best practices and a mission to provide quality banking services while being socially responsible. Currently, it has over 56,000 employees operating internationally. Canara Bank focuses on innovation, technology, and social/rural banking while facing challenges from competition and economic/policy changes.
The document is an assignment on Mukesh Ambani that analyzes his career and strategic management. It discusses his early life, education at University of Mumbai and dropping out of Stanford University. It outlines his career starting at Reliance in 1981 and his role in expanding the company's operations. The assignment also includes a SWOT analysis of Ambani and discusses his use of strategic management, including partnerships, mergers and acquisitions. It details Reliance Industries' financial position and major subsidiaries.
The document discusses the banking industry in India. It outlines objectives like identifying market share and competition. It describes the market structure in India and globally, with public sector banks, private sector banks, and foreign banks in India. The top 10 banks in India and worldwide are listed. Industry concentration is examined using the Herfindahl Index. Technological changes, demand conditions, pricing, advertising, and mergers and acquisitions in the industry are analyzed. The future outlook is positive due to India's growing population and incomes.
Payment banks are a new type of bank in India that were created by the Reserve Bank of India to encourage financial inclusion. Payment banks can accept deposits up to Rs. 100,000 per customer, issue debit cards, and provide services like ATMs, net banking, and mobile banking. However, they cannot issue credit cards or make loans. The main objectives of payment banks are to provide payment and remittance services to low-income groups and expand access to financial services. Currently, several payment banks are active in India including Paytm, Airtel, India Post, and others.
Project report impact of GST on Hotel IndustryDheeraj Agarwal
This document provides an overview of the hotel industry and the impact of GST on hotels in India. It discusses the classification of hotels based on market segment, property type, size, level of services, ownership, pricing plans, and facilities offered. It also describes the key departments in a hotel and how they work together. The document then examines the introduction of GST in India and the different tax rates applied to the hotel sector. It analyzes the potential pros and cons of GST on hotels and the financial impact on the hospitality industry.
Muhammad Yunus founded the Grameen Bank and pioneered microlending (small loans) to help impoverished people in Bangladesh become self-employed entrepreneurs. In the 1970s, he provided small, no-interest loans to poor women basket weavers when traditional banks refused them loans. This led to the opening of Grameen Bank in 1983, which lends to over 7.5 million poor people. Yunus also developed the concept of "social business" which uses entrepreneurship to help end poverty while being financially self-sustaining. For his pioneering work in microlending, Yunus and Grameen Bank won the 2006 Nobel Peace Prize.
The document is an autobiography of Muhammad Yunus, founder of Grameen Bank. It describes how Yunus established Grameen Bank in 1983 to provide microloans to the poor in Bangladesh who lacked access to traditional banking. The bank pioneered group lending, where members support each other and are jointly responsible for loans. It has since grown to serve over 8 million borrowers, mostly women, and has had success in reducing poverty through small business creation.
presentation on a successful entrepreneur Al Shahriar
Dr. Muhammad Yunus is the first Bangladeshi to win the Nobel Peace Prize. He pioneered microcredit and founded the Grameen Bank to provide small loans to poor individuals, especially women. Yunus earned his PhD from Vanderbilt University and taught economics before discovering that small loans could make a significant difference for poverty-stricken families. In 1983, he established Grameen Bank to formalize his microcredit work, which has since provided loans to millions of poor families. Yunus won the 2006 Nobel Peace Prize for his microcredit innovations in creating economic and social development.
This project report has been prepared as per the requirement of the syllabus of
MBA course structure under which the students are the required to undertake
project.
It was a first hand experience for us as that we were exposed to the professional
set-up and were facing the market, which was really a great experience.
During project period, I had very touching experiences. When business is involved,
experiences counts a lot, as we know, experience are an instrument, which leads
towards success.
This document provides an analysis of opportunity for promotional strategies for State Bank of India. It begins with an overview of SBI as the largest nationalized commercial bank in India. It then defines various banking services including investment banking, retail banking, commercial banking, private banking, and asset management. It identifies SBI's target markets as current and potential customers in rural areas and tier 2/3 cities. The document outlines SBI's communication objectives of increasing awareness, attention, and purchase actions. It notes factors that affect the communication budget such as company strategy, product life cycle stage, and competitive intensity. Finally, it recommends creating communications strategies that match SBI's strategy and focus on opportunities/threats while fitting the company image, and
The document provides an overview of Mukesh Ambani, the richest person in India and chairman of Reliance Industries Limited. It details his background, education, career history and role in building Reliance into the largest private sector company in India. It also summarizes Ambani's leadership style, corporate social responsibility initiatives, awards, and future plans to expand Reliance's operations into new sectors and technologies.
This document provides an overview of the banking sector in India. It discusses the definition of a bank according to Indian law and the history of banking in India in phases from the 18th century to present day. It also classifies the different types of banks in India including the Reserve Bank of India, public sector banks, private sector banks, cooperative banks, and development banks. The roles of commercial banks and investment banks are explained. Finally, it discusses modern modes of banking transactions such as e-banking, ATMs, debit cards, and credit cards.
BANK OF AMERICA PRESENTED BY ASHISH BORKARAshish Borkar
1. Overview of the Company
2. Brief History of Bank Of America
3. Services offered by Bank of America
4. Major Competitors of Bank of America
5. Geographical Area of BoA
6. Future Plans of Bank of America
Sudha Murthy is an Indian social worker, author and engineer who has made significant contributions to public health, education and social welfare initiatives in India. She co-founded the Infosys Foundation and has established several orphanages, supported rural development and provided computer and library facilities to Karnataka government schools. Murthy had a very successful career as a computer scientist and engineer before transitioning to social work and philanthropy. She continues to actively work on social causes through teaching and writing fiction.
Microfinance refers to small-scale financial services like credit and deposits provided to low-income individuals who lack access to traditional banking services. It aims to help the poor become self-sufficient through saving, borrowing, and insurance. While banks are reluctant to serve these clients due to high costs and lack of collateral, microfinance fills this gap by providing small, affordable loans. Groups like self-help groups and microfinance institutions have successfully delivered microcredit in countries like India and Bangladesh, achieving repayment rates over 95% and helping many escape poverty. However, some criticize that microfinance benefits the moderately poor more than the destitute and can lead to over-indebtedness if not implemented responsibly.
Mukesh Ambani is the Chairman and Managing Director of Reliance Industries Limited, the largest private sector company in India. He owns 44.7% of RIL, making him India's richest person and the second richest person in Asia. Ambani has retained his position as the richest Indian for five years in a row. He has extensive business experience growing RIL and leading initiatives such as the largest oil refinery in India. Ambani lives with his family in Antilia, the most expensive home in history valued at over $1 billion in Mumbai.
Entrepreneurship development programmesDaksh Goyal
As the term itself denotes, EDP is a programme meant to develop entrepreneurial abilities among the people. In other words, it refers to inculcation, development, and polishing of entrepreneurial skills into a person needed to establish and successfully run his / her enterprise. Thus, the concept of entrepreneurship development programme involves equipping a person with the required skills and knowledge needed for starting and running the enterprise.
Women Entrepreneurship - Types & Functionsuma reur
1.Chance Entrepreneurs
2.Created Entrepreneurs
3.Benami Entrepreneurs
4.Natural Entrepreneurs
5. Forced Entrepreneurs
Women Entrepreneur is not different from the concept of Entrepreneur, all the concept characteristics & functions are applicable to Women Entrepreneur. The role of women in family & society is changing very fast. Those days are gone where typically women are expected to look after household activities change in various social aspect like equal treatment to women, no discrimination among male & females availability of equal opportunities to work in any field slowly these changes have forced her to become more competitive & also encouraged into business operations.
Muthoot finance service marketing / gap model / zone of tolerance / moment of...Avinash Kini
Muthoot Finance is India's largest gold financing company, offering gold loans and other financial services through over 4,400 branches across India. The presentation discusses Muthoot's 7P marketing mix, segmentation targeting and positioning, the service quality gap model, zone of tolerance, and moments of truth in customer interactions. Muthoot provides gold loans at competitive interest rates and seeks to position itself as a consumer friendly instant loan provider.
The document is a project report submitted by Arpan Mukherjee to the University of Mumbai for a Bachelor of Management Studies degree. The report examines awareness and usage of e-banking in India. It provides background on the development of e-banking in India, including how private banks have embraced new technologies more readily than public sector banks. The report also analyzes the opportunities and challenges of e-banking adoption in India, such as security concerns, low internet penetration rates, and the need for regulatory clarity.
Sri Ammembai Subba Rao Pai established the Canara Hindu Parliament Fund in 1906, which later became Canara Bank Ltd in 1910. Canara Bank was nationalized in 1969 and has since grown to over 1000 branches. It became the first Indian bank to receive ISO certification for its branch operations. Canara Bank has a vision to pursue best practices and a mission to provide quality banking services while being socially responsible. Currently, it has over 56,000 employees operating internationally. Canara Bank focuses on innovation, technology, and social/rural banking while facing challenges from competition and economic/policy changes.
The document is an assignment on Mukesh Ambani that analyzes his career and strategic management. It discusses his early life, education at University of Mumbai and dropping out of Stanford University. It outlines his career starting at Reliance in 1981 and his role in expanding the company's operations. The assignment also includes a SWOT analysis of Ambani and discusses his use of strategic management, including partnerships, mergers and acquisitions. It details Reliance Industries' financial position and major subsidiaries.
The document discusses the banking industry in India. It outlines objectives like identifying market share and competition. It describes the market structure in India and globally, with public sector banks, private sector banks, and foreign banks in India. The top 10 banks in India and worldwide are listed. Industry concentration is examined using the Herfindahl Index. Technological changes, demand conditions, pricing, advertising, and mergers and acquisitions in the industry are analyzed. The future outlook is positive due to India's growing population and incomes.
Payment banks are a new type of bank in India that were created by the Reserve Bank of India to encourage financial inclusion. Payment banks can accept deposits up to Rs. 100,000 per customer, issue debit cards, and provide services like ATMs, net banking, and mobile banking. However, they cannot issue credit cards or make loans. The main objectives of payment banks are to provide payment and remittance services to low-income groups and expand access to financial services. Currently, several payment banks are active in India including Paytm, Airtel, India Post, and others.
Project report impact of GST on Hotel IndustryDheeraj Agarwal
This document provides an overview of the hotel industry and the impact of GST on hotels in India. It discusses the classification of hotels based on market segment, property type, size, level of services, ownership, pricing plans, and facilities offered. It also describes the key departments in a hotel and how they work together. The document then examines the introduction of GST in India and the different tax rates applied to the hotel sector. It analyzes the potential pros and cons of GST on hotels and the financial impact on the hospitality industry.
Muhammad Yunus founded the Grameen Bank and pioneered microlending (small loans) to help impoverished people in Bangladesh become self-employed entrepreneurs. In the 1970s, he provided small, no-interest loans to poor women basket weavers when traditional banks refused them loans. This led to the opening of Grameen Bank in 1983, which lends to over 7.5 million poor people. Yunus also developed the concept of "social business" which uses entrepreneurship to help end poverty while being financially self-sustaining. For his pioneering work in microlending, Yunus and Grameen Bank won the 2006 Nobel Peace Prize.
The document is an autobiography of Muhammad Yunus, founder of Grameen Bank. It describes how Yunus established Grameen Bank in 1983 to provide microloans to the poor in Bangladesh who lacked access to traditional banking. The bank pioneered group lending, where members support each other and are jointly responsible for loans. It has since grown to serve over 8 million borrowers, mostly women, and has had success in reducing poverty through small business creation.
Yunus Centre Social Business PresentationYunus Centre
The document provides an overview of the Yunus Centre and its work promoting social business. It discusses the concept of social business, examples of existing social businesses like Grameen Bank, Grameen Danone, and Grameen GC EyeCare Hospitals. It outlines the future of social business funds and regulations. It concludes with how readers can get involved with social business.
Muhammad Yunus creó el concepto de microcrédito y fundó el Banco Grameen para ofrecer pequeños préstamos a personas pobres que no calificaban para préstamos bancarios tradicionales. El Banco Grameen otorga préstamos a grupos de cinco personas con pocos requisitos, pero el grupo pierde la posibilidad de nuevos créstamos si uno de sus miembros no paga. Yunus ganó el Premio Nobel de la Paz en 2006 por su trabajo pionero en microfinanzas.
Dr. Muhammad Yunus founded Grameen Bank in 1983 to provide microloans to poor citizens in Bangladesh, allowing many to become small business owners and lift themselves out of poverty. The model of group lending with joint liability was highly successful with repayment rates over 90%. This microcredit approach has been replicated worldwide and earned Dr. Yunus and Grameen Bank the 2006 Nobel Peace Prize. Dr. Yunus also developed the concept of social business, using business principles to solve social problems in a self-sustaining way. He has authored several books and received numerous honors for his pioneering work reducing poverty through access to credit and entrepreneurship opportunities.
Los microcréditos son pequeños préstamos otorgados a personas pobres para financiar proyectos laborales. Muhammad Yunus creó los microcréditos en 1974 al prestar 27 euros a 42 aldeanos necesitados en Bangladesh y luego fundó el banco Grameen para expandir este modelo, prestando más de 3 millones de dólares a 2.4 millones de personas en necesidad.
Preparing Grameen’s Systems For Tomorrow
The Grameen Foundation wanted to ensure it had the optimal
reporting platform for its open source application system, Mifos,
which provides a wide range of processing services to microfinance
institutions globally. ThoughtWorks stepped in to help ensure that
Mifos had a reporting component that would allow maximum
customization, performance and scalability.
The document discusses microfinance and social performance management tools. It introduces the Grameen Foundation, which uses microfinance to alleviate poverty. It then discusses the Progress out of Poverty Index (PPI), a tool used to measure poverty levels of microfinance clients and understand how poverty changes over time. The PPI can help microfinance institutions adjust their products and services, ensure they reach their target populations, and improve poverty outcomes over time through strategic portfolio segmentation and targeting.
Dokumen tersebut memberikan instruksi instalasi Ubuntu 14.04 dengan menjelaskan versi, tanggal rilis, dan fitur utamanya. Juga menyebutkan spesifikasi minimum dan contoh spesifikasi laptop untuk menjalankan Ubuntu serta kelebihan dan kekurangan dari sistem operasi ini.
Social investment is no longer just about what funders spend.
The FirstRand Group's Sizwe Nxasana speaks at the Tshikululu Social Investments Serious Social Investing 2013 workshop.
Grameen Foundation has tested two models for microfranchising (MFZ): [1] embedding MFZ products within microfinance institutions (MFIs), and [2] creating standalone MFZ institutions. While leveraging MFI networks provided benefits, MFIs often struggled to adapt processes and products to fully support MFZ businesses. Standalone MFZ institutions allowed greater focus on the business model but were more resource intensive. Overall, successfully partnering MFIs and MFZ depends on aligning their strategic priorities and business/financing needs. Mature MFIs that provide value-added services may be stronger partners for microfranchising.
Microfinance provides small loans, savings opportunities, and other financial services to low-income individuals who lack access to traditional banking. Muhammad Yunus founded Grameen Bank in 1983 to provide credit to the poor in Bangladesh without requiring collateral. Grameen Bank and microcredit more broadly have helped millions of people rise out of poverty by allowing them to start small businesses. While microcredit has significantly benefited many, concerns remain regarding interest rates and whether loans truly benefit women. Microfinance continues expanding to help alleviate global poverty.
Poverty is widespread in Bangladesh, with up to 26% of the population living below the national poverty line. Microfinance provides financial services to those without access to traditional banking, through small loans without security requirements. Muhammad Yunus founded Grameen Bank in 1976 to provide microloans to the rural poor of Bangladesh, especially women. Grameen Bank allows borrowers to start small businesses, breaking the cycle of poverty - a 2008 internal survey found 65% of borrowers had risen above the poverty line.
The document introduces a new tool and process for innovating business models using a visual template. The tool aims to (1) help entrepreneurs better describe and improve their business models to attract investors, (2) allow advisors to clearly illustrate business model options, and (3) encourage faster learning and innovation. Feedback is sought on the tool developed so far and expressions of interest in a workshop to demonstrate and further develop the social business model innovation approach.
The document provides background information on Muhammad Yunus and the Grameen Bank microcredit program he founded in Bangladesh. Some key points:
1. Muhammad Yunus founded Grameen Bank in 1983 to provide small loans to poor villagers to start businesses.
2. Grameen Bank has now loaned over $8 billion to over 8 million borrowers, with a 98% repayment rate. 64% of members have been lifted out of poverty.
3. Yunus and Grameen Bank were awarded the Nobel Peace Prize in 2006 for their work in microcredit and alleviating poverty. Microcredit aims to help the poorest families create sustainable businesses and income through small, affordable loans
Investing for Impact: Issues and Opportunities for Social Finance in CanadaKarim Harji
Presentation at the ANSER conference in Montreal on June 2, 2010.
Provides an overview of the Canadian social capital market; the trade-offs between risk, return and impact; Canadian investors’ perspectives on social finance; and emerging opportunities.
Linking Policy and Practice in Climate Change Actions in BangladeshOxfam in Bangladesh
This document summarizes Oxfam's experiences linking climate policy and practice in Bangladesh. It outlines the impacts of climate change in Bangladesh, including disasters, loss of livelihoods and poverty. It discusses key strategy documents and actors working on climate issues. It then describes several of Oxfam's advocacy campaigns, including reviewing strategy documents, advocating for climate funding, holding a climate tribunal, and addressing climate migration. Finally, it discusses a successful public-private partnership that used vessel tracking technology to provide early warnings to fishermen and save lives.
Muhammad Yunus, economista y banquero de Bangladesh, fundó el Banco Grameen en 1976 para proporcionar microcréditos a personas humildes. Debido a su éxito con los microcréditos, recibió el Premio Nobel de la Paz en 2006. El Banco Grameen ha ayudado a millones de personas a salir de la pobreza y ahora tiene más de 2,000 sucursales.
Muhammad Yunus founded Grameen Bank in Bangladesh in 1983 to provide microloans to the poor. Grameen Bank utilizes a group lending model where individuals receive loans but are jointly liable as members of self-formed groups. This model has proven highly successful with a 98% repayment rate. Over 94% of loans are given to women, empowering them financially and helping one-third of borrowers rise out of poverty. Yunus was awarded the 2006 Nobel Peace Prize for his work in microfinance and efforts to alleviate poverty.
This document discusses reliable reporting for social development projects. It notes that reporting has shifted from solely accounting and governance to also incorporating social development goals. A good monitoring and evaluation (M&E) framework is key, distinguishing monitoring from evaluation. Monitoring ensures implementation and self-reporting, while evaluation assesses outcomes and impact through external review. The framework must link strategy to M&E and provide a theory of change to connect activities to goals. Funders and organizations must work together to co-create appropriate M&E without overburdening organizations.
Professor Dr. Muhammad Yunus is a Bangladeshi economist who established the Grameen Bank in 1983 to provide microloans to the poor. He pioneered the concept of microcredit and microfinance. Yunus and Grameen Bank were jointly awarded the Nobel Peace Prize in 2006 for their efforts to create economic and social development. Under Yunus' leadership, Grameen Bank has grown to over 2 million borrowers in Bangladesh and replicas have been established in over 100 countries. Yunus has received numerous international awards for his work in alleviating poverty through microfinance and promoting social business.
This document provides an overview of Muhammad Yunus and Grameen Bank. It begins with introductions of the group members giving the presentation. It then discusses what leadership is and provides background on Muhammad Yunus, including his early life, education, career founding Grameen Bank, and awards such as the Nobel Peace Prize. Grameen Bank is summarized as providing microloans to empower the rural poor in Bangladesh. The document concludes by stating that Muhammad Yunus and Grameen Bank won the 2006 Nobel Peace Prize for their work to create economic and social development through microcredit.
Proverty a heart for the less fortunate(final)You Trolled
Muhammad Yunus pioneered the concepts of microcredit and microfinance by providing small loans to poor entrepreneurs who lacked collateral. He founded Grameen Bank in 1983 and won the Nobel Peace Prize in 2006 for his efforts in alleviating poverty. Chris Mould founded the Trussell Trust in 1997 to provide emergency food aid in the UK. Under his leadership, Trussell Trust has grown rapidly and now operates over 1,000 food bank centers, helping to address food poverty exacerbated by austerity measures. Both social entrepreneurs have made significant impacts through innovative approaches that empower the poor and address social issues.
Muhammad Yunus pioneered microcredit and founded the Grameen Bank in Bangladesh in 1983 to provide small loans to the poor so they could start businesses. This allowed many to lift themselves out of poverty. He has also helped malnourished children through affordable yogurt and saved many from blindness through low-cost eye hospitals. When loans were given to women, they invested more back into their households and had lower default rates than men. Yunus has inspired thousands of others through social entrepreneurship to help the poor around the world.
Professor Muhammad Yunus founded Grameen Bank in 1983 to provide microloans to poverty-stricken individuals in Bangladesh, allowing them to become self-employed entrepreneurs. Since its founding, Grameen Bank has issued over $6 billion in loans to over 7 million borrowers, lifting many out of poverty. For his work in microfinance and social business, Yunus was awarded the 2006 Nobel Peace Prize, becoming the first Bangladeshi Nobel laureate. Grameen Bank pioneered the group lending model that is now replicated worldwide to empower those living in poverty.
Dr. Muhammad Yunus is a Bangladeshi economist and founder of Grameen Bank who pioneered microcredit and microfinance. He established Grameen Bank in 1983 to provide small loans known as microcredit to poor individuals, especially women, to allow them to start small businesses. Over 30 years, microcredit has spread worldwide helping countless families through Grameen Bank's banking facilities without requiring collateral. Dr. Yunus received many honors for his work, including the Nobel Peace Prize in 2006, for his efforts to create economic and social development.
Dr. Muhammad Yunus is a Bangladeshi economist and founder of Grameen Bank who pioneered microcredit and microfinance. He established Grameen Bank in 1983 to provide small loans known as microcredit to poor individuals, especially women, to allow them to start small businesses. Over 30 years, microcredit has spread worldwide helping countless families through Grameen Bank's banking facilities without requiring collateral. Dr. Yunus received many honors for his work, including the Nobel Peace Prize in 2006, for his efforts to create economic and social development.
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.
Muhammad Yunus is a Bangladeshi economist who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering microcredit and microfinance. He provided small loans known as "microloans" to poor people without requiring collateral when banks advised against it. In 1983, he formed the Grameen Bank based on principles of trust and solidarity. Today, Grameen Bank has over 8 million borrowers in Bangladesh, 97% of whom are women, and has a 97% loan repayment rate, demonstrating microcredit as an effective anti-poverty tool. Grameen methods have been applied in microcredit projects in 58 countries.
Muhammad Yunus was born in 1940 in Bangladesh and grew up in a village before moving to the city of Chittagong. In 1974 as an economics professor, he led students on a field trip where they learned a woman making bamboo stools had to borrow small amounts at extremely high interest rates. This inspired Yunus to develop microcredit and microfinance concepts providing small, affordable loans to poor entrepreneurs without collateral. Yunus and the Grameen Bank he founded received the 2006 Nobel Peace Prize for their microcredit efforts to alleviate poverty from the bottom up.
Grameen Bank was founded in 1983 by Muhammad Yunus in Bangladesh to provide small loans known as microcredit to poor entrepreneurs without requiring collateral. It started as a research project in 1976 and has since grown to provide loans to over 8 million borrowers, 98% of whom are women. The bank pioneered group lending and uses peer pressure among borrowers to encourage high repayment rates, which have typically exceeded 90%. Grameen Bank and Muhammad Yunus were jointly awarded the Nobel Peace Prize in 2006 for their work to promote economic and social development.
Microfinance provides small loans, savings, insurance, and money transfer services to low-income individuals who lack access to traditional banking services. Muhammad Yunus pioneered microfinance through Grameen Bank in Bangladesh in 1983. Key elements of microfinance include microcredit, microsavings, microinsurance, and remittances. While microfinance provides financial opportunities for the impoverished, some argue it can take advantage through high interest rates and may not improve recipients' incomes.
The document provides an overview of microcredit and financial institutions, focusing on BRAC's microfinance program in Bangladesh and Uganda. It proposes expanding BRAC's Empowerment and Livelihoods for Adolescent Girls (ELA) program in Uganda to provide microloans, financial literacy training, and vocational skills training to 30,000 adolescent girls. Research on the existing ELA program in Uganda found increases in savings, contraceptive use, and income-generating activities along with decreases in pregnancy rates and unwilling sexual intercourse. However, critiques note that microfinance programs often rely on repeated donations to cover costs and that few achieve full financial sustainability without subsidies.
Muhammad Yunus pioneered microcredit and founded Grameen Bank to provide small loans to poor people, especially women in Bangladesh. This allowed millions to work their way out of poverty with dignity. For his work in microfinance and eradicating poverty, Yunus was awarded the 2006 Nobel Peace Prize. Beyond Grameen Bank, he has also created other organizations in Bangladesh addressing poverty issues. However, the Bangladeshi government recently took actions trying to undermine Grameen Bank and remove Yunus from its leadership.
Muhammad Yunus is a Bangladeshi social entrepreneur who founded Grameen Bank and pioneered microcredit and microfinance. He launched an action research project in 1976 to provide banking services to rural poor in Bangladesh. This grew into Grameen Bank which provides small loans to impoverished borrowers without requiring collateral. Yunus received the 2006 Nobel Peace Prize for his microcredit efforts to alleviate poverty. Grameen Bank has over 8 million borrowers in Bangladesh and its branches are located in rural villages to better serve customers. The bank's model of small, weekly installment loans has significantly impacted poverty reduction.
Muhammad Yunus is a Bangladeshi social entrepreneur who founded Grameen Bank and pioneered microcredit and microfinance. He launched an action research project in 1976 to provide banking services to rural poor in Bangladesh. This grew into Grameen Bank which provides small loans to impoverished borrowers without requiring collateral. Grameen Bank has expanded to many villages across Bangladesh. Yunus received the 2006 Nobel Peace Prize for his microcredit work creating economic and social development. He has helped over 8 million borrowers and established Grameen Bank branches focused on rural areas to better assist the poor.
The document discusses the history and impact of the Grameen Bank and its founder, Muhammad Yunus. It describes how Yunus pioneered microcredit and microfinance by providing small, collateral-free loans to poor entrepreneurs in Bangladesh through the Grameen Bank. The bank reversed conventional banking practices and has grown significantly, with over 8 million borrowers as of 2011, 97% of whom are women. Studies show over half of borrowers have risen out of poverty due to the loans. The bank has a high repayment rate of over 98% and is owned primarily by its borrowers.
This chapter discusses guidance and counseling. It begins by defining guidance as assistance provided by qualified individuals to help people of any age manage their own lives and make their own decisions. Counseling is described as a process that enables individuals to understand themselves and their situations in order to solve problems. The origins and evolution of guidance and counseling in India and other countries is then outlined. Various definitions of guidance and counseling are provided. The chapter also discusses the aims, need, scope, techniques and types of counseling as well as educational, social, personal and career guidance.
Muhammad Yunus founded the Grameen Bank in 1983 to provide microcredit loans to impoverished people without requiring collateral. The bank is based on the concept that the poor have skills that are underutilized and can earn more money with incentives. By 2011, the bank had over 8 million borrowers, 97% of whom were women. It has over 2,400 branches serving over 80,000 villages. Yunus and the Grameen Bank were awarded the 2006 Nobel Peace Prize for their efforts to create economic and social development from below through microcredit lending.
Muhammad Yunus is a Bangladeshi economist and founder of Grameen Bank who pioneered microcredit and microfinance. Inspired to eradicate poverty, he provided small loans to poor people without collateral in the 1970s. This led to the founding of Grameen Bank in 1983, which lends to the poor, especially women, with a very high repayment rate. By 2015, Grameen Bank had over 8 million borrowers in Bangladesh and its microcredit programs have proven effective in reducing poverty and empowering people. Grameen Bank also received worldwide attention, winning the Nobel Peace Prize in 2006 for alleviating poverty.
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1. [Leadership – Dr. Muhammad Yunus] April 21, 2014
1 Mohaimin Ul Jobair Leadership - Assignment
Executive Summary:
Professor Dr. Muhammad Yunus is a Bangladeshi banker and economist. He is the
developer and founder of the concept of microcredit, the extension of small loans to
entrepreneurs too poor to qualify for traditional bank loans. Yunus is also the
founder of Grameen Bank. In 2006, they were jointly awarded the Nobel Peace
Prize, "for their efforts to create economic and social development from below.‖
The Grameen Bank (in Bengali, Grameen means rural) which Dr. Yunus has built
over the last 22 years is today the largest rural bank in Bangladesh. It has over 2
million borrowers and works in 35000 villages in a country of 68000 villages. 94% of
its borrowers are women. The bank is based on simple, sensible rules, meticulous
organization, imagination and peer pressure among borrowers. The break that
Grameen Bank offers is a collateral-free loan, sometimes equivalent to just a few
U.S. dollars and rarely more than $100. In rural areas, it makes things happen. 98%
of its loans are honored. Thus he has turned into reality a philosophy that the
poorest of the poor are the most deserving in the land and that given the
opportunity they can lift themselves out of the mire of poverty. His ideas combine
capitalism with social responsibility.
Micro-credit concept is now being practiced in 58 countries. In the US, it is a
success even with the Shifting poor of Chicago's toughest districts. The United
States alone has over 500 Grameen spin-offs. Bill Clinton said in his election
campaign that Yunus deserved a Nobel Peace Prize and cited the Experiment of
Dr. Yunus as a model for rebuilding the inner cities of America. Pilot projects are
starting in Britain. The methods are adapted to suit local conditions, but the
principle of empowering individuals with their own capital is the same.
2. [Leadership – Dr. Muhammad Yunus] April 21, 2014
2 Mohaimin Ul Jobair Leadership - Assignment
Definition of Leadership:
1. The individuals who are the leaders in an organization, regarded collectively.
2. The activity of leading a group of people or an organization or the ability to do this.
Leadership involves establishing a clear vision,sharing that vision with others so
that they will follow willingly,providing the information, knowledge and methods to
realize that vision, and coordinating and balancing the conflicting interests of all
members and stakeholders.
A leader steps up in times of crisis, and is able to think and act creatively in difficult
situations. Unlike management, leadership cannot be taught, although it may be
learned and enhanced through coaching or mentoring. Someone with great
leadership skills today is Bill Gates who, despite early failures, with continued
passion and innovation has driven Microsoft and the softwareindustry to
success. The act of inspiring subordinates to perform and engage in achieving a
goal.
Types of Leadership:
Autocratic leadership
Bureaucratic leadership
Charismatic leadership
Democratic leadership or participative leadership
Laissez-faire leadership.
People-oriented leadership or relations-oriented leadership
Servant leadership
Task-oriented leadership
Transactional leadership
Transformational leadership
3. [Leadership – Dr. Muhammad Yunus] April 21, 2014
3 Mohaimin Ul Jobair Leadership - Assignment
Seven Principles of Social Business:Grameen Bank:
1. Business objective will be to overcome poverty, or one or more problems
(such as education, health, technology access, and environment) which
threaten people and society; not profit maximization
2. Financial and economic sustainability
3. Investors get back their investment amount only. No dividend is given
beyond investment money
4. When investment amount is paid back, company profit stays with the
company for expansion and improvement
5. Environmentally conscious
6. Workforce gets market wage with better working conditions
7. ...do it with joy
A successful Leader& Critical Analyze:
Dr. Prof. Muhammad Yunus – The Founder of Grameen Bank one most successful
entrepreneur and leader of Bangladesh and well known for his micro lending
process & implementation in the real world.
4. [Leadership – Dr. Muhammad Yunus] April 21, 2014
4 Mohaimin Ul Jobair Leadership - Assignment
Professor Muhammad Yunus established the Grameen Bank in Bangladesh in
1983, fueled by the belief that credit is a fundamental human right. His objective
was to help poor people escape from poverty by providing loans on terms suitable
to them and by teaching them a few sound financial principles so they could help
themselves.
From Dr. Yunus' personal loan of small amounts of money to destitute basket
weavers in Bangladesh in the mid-70s, the Grameen Bank has advanced to the
forefront of a burgeoning world movement toward eradicating poverty through micro
lending. Replicas of the Grameen Bank model operate in more than 100 countries
worldwide.
Born in 1940 in the seaport city of Chittagong, Professor Yunus studied at Dhaka
University in Bangladesh, and then received a Fulbright scholarship to study
economics at Vanderbilt University. He received his Ph.D. in economics from
Vanderbilt in 1969 and the following year became an assistant professor of
economics at Middle Tennessee State University. Returning to Bangladesh, Yunus
headed the economics department at Chittagong University.
From 1993 to 1995, Professor Yunus was a member of the International Advisory
Group for the Fourth World Conference on Women, a post to which he was
appointed by the UN secretary general. He has served on the Global Commission
of Women's Health, the Advisory Council for Sustainable Economic Development
and the UN Expert Group on Women and Finance.
Professor Yunus is the recipient of numerous international awards for his ideas and
endeavors, including the Mohamed Shabdeen Award for Science (1993), Sri
Lanka; Humanitarian Award (1993), CARE, USA; World Food Prize (1994), World
Food Prize Foundation, USA; independence Day Award (1987), Bangladesh's
highest award; King Hussein Humanitarian Leadership Award (2000), King Hussien
Foundation, Jordan; Volvo Environment Prize (2003), Volvo Environment Prize
Foundation, Sweden; Nikkei Asia Prize for Regional Growth (2004), Nihon Keizai
Shimbun, Japan; Franklin D. Roosevelt Freedom Award (2006), Roosevelt Institute
5. [Leadership – Dr. Muhammad Yunus] April 21, 2014
5 Mohaimin Ul Jobair Leadership - Assignment
of The Netherlands; and the Seoul Peace Prize (2006), Seoul Peace Prize Cultural
Foundation, Seoul, Korea. He is a member of the board of the United Nations
Foundation.
Achievement of Dr. Muhammod Yunus:
The most respected achievement that Dr.Professor Muhammad Yunus, was
awarded the Nobel Prize for Peace in 2006.
Scholarships / fellowships:
1. Awarded Fulbright Fellowship to study in the U.S.A. for 1965-66.
2. Awarded Vanderbilt University research and teaching fellowships during
1966-69.
3. Awarded Eisenhour Exchange Fellowship for 1984.
4. Senior Fellow, The Institute of Mediterranean Studies,Universita della
Svizzera Italiana, Lugano, Switzerland (2000 - Present).
Professional Experiences:
1962-65 : Lecturer of Economics, Chittagong College, Bangladesh
1969-72 : Assistant Professor of Economics, MTSU, Tennessee, USA
1972
(July-Sept)
:
Deputy Chief, General Economics Division, Planning
Commission,Government of Bangladesh.
1972 - 75 :
Associate Professor of Economics and Head of the Department of
Economics, Chittagong University, Bangladesh
1975 - 1989 :
Professor of Economics, Chittagong University and Director, Rural
Economics Program, Chittagong, Bangladesh
1976 - 1983 : Project Director, Grameen Bank Project, Bangladesh
1983 - 2011 : Managing Director, Grameen Bank, Bangladesh
1996
(April-June)
:
Cabinet Minister (Advisor) in the Caretaker Government of
Bangladesh.
6. [Leadership – Dr. Muhammad Yunus] April 21, 2014
6 Mohaimin Ul Jobair Leadership - Assignment
Membership of Committees and Commissions (National):
1981 :
Member, National Committee on Population Policy set up by the
President of Bangladesh.
1982 :
Member, Land Reform Committee, set up by Chief Martial Law
Administrator, headed by the Minister of Agriculture.
1987-88 : Member, Education Commission, Government of Bangladesh.
1989-90 :
Appointed as the Chairman of the Socio-economic Committee of the
National Disaster Prevention Council set up by the President of
Bangladesh.
1989 :
Member of the Task Force for reviewing the operation of the
Nationalized Commercial Banks, Bangladesh.
1991 :
Appointed as the Convener of the Task Force on Self-Reliance set up
by the Planning Advisor.
2001 :
Member of the National ICT Task Force Committee, Ministry of
Planning, Bangladesh.
A Short History of Grameen Bank created by Dr. Yunus:
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. The origin of Grameen Bank can be
traced back to 1976 when Professor Muhammad Yunus, Head of the Rural
Economics Program at the University of Chittagong, launched an action research
project to examine the possibility of designing a credit delivery system to provide
banking services targeted at the rural poor. The Grameen Bank Project Grameen
means "rural" or "village" in Bangla language came into operation with the following
objectives:
extend banking facilities to poor men and women;
eliminate the exploitation of the poor by money lenders;
create opportunities for self-employment for the vast multitude of
unemployed people in rural Bangladesh;
7. [Leadership – Dr. Muhammad Yunus] April 21, 2014
7 Mohaimin Ul Jobair Leadership - Assignment
bring the disadvantaged, mostly the women from the poorest households,
within the fold of an organizational format which they can understand and
manage by themselves;
reverse the age-old vicious circle of "low income, low saving & low
investment", into virtuous circle of "low income, injection of credit,
investment, more income, more savings, more investment, more income".
As of October, 2011, it has 8.349 million borrowers, 97 percent of whom are
women. With 2,565 branches, GB provides services in 81,379 villages, covering
more than 97 percent of the total villages in Bangladesh.
Grameen Bank's positive impact on its poor and formerly poor borrowers has been
documented in many independent studies carried out by external agencies
including the World Bank, the International Food Research Policy Institute (IFPRI)
and the Bangladesh Institute of Development Studies (BIDS).
The action research demonstrated its strength in Jobra (a village adjacent to
Chittagong University) and some of the neighboring villages during 1976-1979.
With the sponsorship of the central bank of the country and support of the
nationalized commercial banks, the project was extended to Tangail district (a
district north of Dhaka, the capital city of Bangladesh) in 1979. With the success in
Tangail, the project was extended to several other districts in the country. In
October 1983, the Grameen Bank Project was transformed into an independent
bank by government legislation. Today Grameen Bank is owned by the rural poor
whom it serves. Borrowers of the Bank own 90% of its shares, while the remaining
10% is owned by the government.
Micro Credit Delivery System ofGrameen Bank by Dr. Yunus:
Grameen Bank Credit Delivery means taking credit to the very poor in their villages
by means of the essential elements of the Grameen credit delivery system.
Grameen Bank credit delivery system has the following features:
There is an exclusive focus on the poorest of the poor.
8. [Leadership – Dr. Muhammad Yunus] April 21, 2014
8 Mohaimin Ul Jobair Leadership - Assignment
Borrowers are organized into small homogeneous groups.
Special loan conditionality‘s which are particularly suitable for the poor.
Simultaneous undertaking of a social development agenda addressing basic
needs of the clientele.
Design and development of organization and management systems capable
of delivering program resources to targeted clientele.
Expansion of loan portfolio to meet diverse development needs of the poor.
October 13, 2006 was the happiest day for Bangladesh. It was a great moment for
the whole nation. Announcement came on that day that Grameen Bank and I
received the Nobel Peace Prize, 2006. It was a sudden explosion of pride and joy
for every Bangladeshi. All Bangladeshi's felt as if each of them received the Nobel
Peace Prize. We were happy that the world has given recognition through this
prize, that poverty is a threat to peace. Grameen Bank, and the concept and
methodology of micro-credit that it has elaborated through its 30 years of work,
have contributed to enhancing the chances of peace by reducing poverty.
Bangladesh is happy that it could contribute to the world a concept and an
institution which can help bring peace to the world.
Owned by the Poor
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 95 percent of the
total equity of the bank. Remaining 5 per cent is owned by the government.
No Collateral, No Legal Instrument, No Group-Guarantee or Joint Liability
Grameen Bank does not require any collateral against its micro-loans. Since the
bank does not wish to take any borrower to the court of law in case of non-
repayment, it does not require the borrowers to sign any legal instrument. Although
each borrower must belong to a five-member group, the group is not required to
give any guarantee for a loan to its member. Repayment responsibility solely rests
on the individual borrower, while the group and the center oversee that everyone
9. [Leadership – Dr. Muhammad Yunus] April 21, 2014
9 Mohaimin Ul Jobair Leadership - Assignment
behaves in a responsible way and none gets into repayment problem. There is no
form of joint liability, i.e. group members are not responsible to pay on behalf of a
defaulting member.
97 per cent Women
Total number of borrowers is 8.35 million, 96 per cent of them are women.
Branches
Grameen Bank has 2,565 branches. It works in 81,379 villages. Total staff is
22,124
Over Tk. 684 billion disbursed
Total amount of loan disbursed by Grameen Bank, since inception, is Tk. 684.13
billion (US $ 11.35 billion). Out of this, Tk. 610.81 billion (US $ 10.11 billion) has
been repaid. Current amount of outstanding loans stands at TK 73.32 billion (US $
968.31 million). During the past 12 months (from November‘10 to October'11)
Grameen Bank disbursed Tk. 107.30 billion (US $ 1480.53 million). Monthly
average loan disbursement over the past 12 month was Tk. 8.94 billion (US $
123.38 million).Projected disbursement for year 2011 is Tk. 110.00 billion (US$
1557.63 million), i.e. monthly disbursement of Tk. 9.17 billion (US $ 129.80 million).
End of the year outstanding loan is projected to be at Tk. 78.00 billion (US $ 1105
million).
Recovery Rate Over 97 per cent
Loan recovery rate is 96.67 per cent.
100 per cent Loans Financed From Bank’s Deposits
10. [Leadership – Dr. Muhammad Yunus] April 21, 2014
10 Mohaimin Ul Jobair Leadership - Assignment
Grameen Bank finances 100 per cent of its outstanding loan from its deposits. Over
56 per cent of its deposits come from bank‘s own borrowers. Deposits amount to
145 per cent of the outstanding loans. If we combine both deposits and own
resources it becomes 160 per cent of loans outstanding.
Borrower-Deposits Keep Growing
Besides building financial strength of the poor women by encouraging them to build
up significant amount of personal savings, borrower deposit is also a very important
element in Grameen Bank. Forty-two per cent of the branches have borrower
deposits equal to 75 per cent or more of outstanding loans of the branches.
One-fifth of the branches have more borrower-deposits than the amount of loans
outstanding. In some branches borrower-deposits are as high as 50 per cent above
the outstanding loans. In eight zones, out of forty, borrower deposits are equal or
more than the outstanding loans in zones.
No Donor Money, No Loans
In 1995, Bank decided not to receive any more donor funds. Since then, it has not
requested any fresh funds from donors. Last installment of donor fund, which was
in the pipeline, was received in 1998. GB does not see any need to take any donor
money or even take loans from local or external sources in future. GB's growing
amount of deposits will be more than enough to run and expand its credit program
and repay its existing loans.
Earns Profit
Ever since Grameen Bank came into being, it has made profit every year except in
1983, 1991, and 1992. It has published its audited balance-sheet every year,
audited by two internationally reputed audit firms of the country.
11. [Leadership – Dr. Muhammad Yunus] April 21, 2014
11 Mohaimin Ul Jobair Leadership - Assignment
Status of Dr. MuhammodYunus Corporate Position:
Revenue and Expenditure
Total revenue generated by Grameen Bank in 2012 was Tk. 17.74 billion
(US $ 252.05 million).
Total expenditure was Tk. 16.98 billion (US $ 241.29 million).
Interest payment on deposits of Tk. 9.23 billion (US $ 131.09 million) was the
largest component of expenditure (54 per cent).
Expenditure on salary, allowances, and pension benefits amounted to TK.
4.64 billion (US $ 65.92 million), which was the second largest component of
the total expenditure (27 per cent).
Grameen Bank made a profit of Tk. 757.24 million (US $ 10.76 million) in
2012.
30% Dividend for 2012
Grameen Bank has declared 30% cash dividend for the year 2010. This is
the highest cash dividend declared by any bank in Bangladesh in
2010.Highest record of dividend declared by Grameen Bank was in 2006.
It was 100%.The bank has also created a Dividend Equalization Fund to
ensure distribution of dividends without much fluctuation in successive year‘s
.Receiving of dividends each year greatly inspires our shareholders, 97% of
whom are our borrowers.
Low Interest Rates
Government of Bangladesh has fixed interest rate for government-run microcredit
programs at 11 per cent at flat rate. It amounts to about 22 per cent at declining
basis. Grameen Bank's interest rate is lower than government rate.
There are four interest rates for loans from Grameen Bank: 20% for income
12. [Leadership – Dr. Muhammad Yunus] April 21, 2014
12 Mohaimin Ul Jobair Leadership - Assignment
generating loans, 8% for housingloans, 5% for student loans, and 0% (interest-free)
loans for Struggling Members (beggars). All interests are simple interest, calculated
on declining balance method. This means, if a borrower takes an income-
generating loan of say, Tk. 1,000, and pays back the entire amount within a year in
weekly installments, she'll pay a total amount of Tk. 1,100, i.e. Tk. 1,000 as
principal, plus Tk. 100 as interest for the year, equivalent to 10% flat rate.
Deposit Rates
Grameen Bank offers very attractive rates for deposits. Minimum interest offered is
8.5 per cent. Maximum rate is 12 per cent.
Beggars as Members
Begging is the last resort for survival for a poor person, unless he/she turns into
crime or other forms of illegal activities. Among the beggars there are disabled,
blind, and retarded people, as well as old people with ill health. Grameen Bank has
taken up a special program in 2002, called Struggling Members Program
exclusively for the beggars. Over 111,296 beggars have joined the program. Total
amount disbursed stands today at Tk. 162.60 million. Of this amount of Tk. 130.89
million (80% of the amount disbursed) has already been paid off.
19,678 beggars have left begging and are making a living as door-to-door sales
persons. Among them 10,185 beggars have joined Grameen Bank groups as main-
stream borrowers.
Beggar‘s members have voluntarily opened their personal savings accounts.
Cumulative deposit in these savings accounts amounts to BDT 22.41 million;
present balance stands at BDT 8.08 million.
Basic features of the program are:
1. Existing rules of Grameen Bank do not apply to beggar members; they make
up their own rules.
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13 Mohaimin Ul Jobair Leadership - Assignment
2. All loans are interest-free. Loans can be for very long term, to make
repayment installments very small. For example, for a loan to buy a quilt or a
mosquito-net, or an umbrella, many borrowers are paying Tk. 2.00 (3.4 cents
US) per week.
3. Beggar members are covered under life insurance and loan insurance
programs without paying any cost.
4. Groups and centers are encouraged to become patrons of the beggar
members.
5. Each member receives an identity badge with Grameen Bank logo. She can
display this as she goes about her daily life, to let everybody know that she
is a Grameen Bank member and this national institution stands behind her.
6. Members are not required to give up begging, but are encouraged to take up
an additional income-generating activity like selling popular consumer items
door to door, or at the place of begging.
Objective of the program is to provide financial services to the beggars to help them
find a dignified livelihood send their children to school and graduate into becoming
regular Grameen Bank members. We wish to make sure that no one in the
Grameen Bank villages has to beg for survival.
Housing for the Poor
This program was awarded Aga Khan International Award for Architecture in 1989.
Maximum amount given for housing loan is Tk. 25,000 (US $ 354) to be repaid over
a period of 5 years in weekly installments. Interest rate is 8 per cent. 690,737
houses have been constructed with the housing loans averaging Tk. 13,059 (US $
181.50). A total amount of Tk. 9.02 billion (US $ 211.21 million) has been disbursed
for housing loans. During the past 12 months (from Nov.'10 to October‘11) 4,482
houses have been built with housing loans amounting to Tk. 52.43 million (US $
0.69 million).
Micro-enterprise Loans
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14 Mohaimin Ul Jobair Leadership - Assignment
Many borrowers are moving ahead in businesses faster than others for many
favorablereasons, such as, proximity to the market, presence of experienced male
members in the family, etc. Grameen Bank provides larger loans, called micro-
enterprise loans, for these fast moving members. There is no restriction on the loan
size. So far 3,590923 members took micro-enterprise loans. A total of Tk. 105.96
billion (US$ 1540.58 million) has been disbursed under this category of loans.
Average loan size is Tk. 29,507 (US $ 389.69), maximum loan taken so far is Tk.
1.6 million (US $ 23,209). This was used in purchasing a truck which is operated by
the husband of the borrower. Power-tiller, irrigation pump, transport vehicle, and
river-craft for transportation and fishing are popular items for micro-enterprise
loans.
Scholarships
Scholarships are given, every year, to the high performing children of Grameen
borrowers, with priority on girl children, to encourage them to stay ahead to their
classes. Up to October'11, scholarships amounting to Tk. 205.03 million (US$ 3.00
million) have been awarded to 1, 33031 children. During 2011, US$ 592,849 will be
awarded to about 24,611 children, at various levels of school and college
education.
Education Loans
Students who succeed in reaching the tertiary level of education are given higher
education loans, covering tuition, maintenance, and other school expenses. By
October‘11, 49,588 students received higher education loans, of them 46,885
students are studying at various universities; 577 are studying in medical schools,
894 are studying to become engineers, 1232 are studying in other professional
institutions.
Growth of GrameenBank &Foundation:
15. [Leadership – Dr. Muhammad Yunus] April 21, 2014
15 Mohaimin Ul Jobair Leadership - Assignment
Grameen Bank does not own any share of the following companies in the Grameen
network. Nor has it given any loan or received any loan from any of these
companies. They are all independent companies, registered under Companies Act
of Bangladesh, with obligation to pay all taxes and duties, just like any other
company in the country.
1. Grameen Phone Ltd. (Telenor Bangladesh)
2. Grameen Telecom
3. Grameen Communications
4. Grameen Cybernet Ltd. ( Frist ISP of Bangladesh)
5. Grameen Solutions Ltd.
6. Grameen Information Highways Ltd.
7. Grameen Bitek Ltd.
8. Grameen Krishi Foundation
9. Grameen Motsho (Fisheries) Foundation
10. Grameen Uddog (Enterprise)
11. Grameen Shamogree (Products)
12. Grameen Knitwear Ltd.
13. Grameen Shikkha (Education)
14. Grameen Capital Management Ltd.
15. Grameen Byabosa Bikash (Business Promotion )
16. Grameen Trust
17. Grameen Health Care Trust
18. Grameen Health Care Service Ltd.
19. Grameen Danone Food Ltd.
20. Grameen Veolia Water Ltd.
21. Grameen Shakti.
22. Grameen IT Park Ltd.
23. Grameen Star Education Ltd.
24. Grameen Employment Services Ltd.
25. Grameen Fabrics and Fashion Ltd.
26. Grameen Distribution Ltd.
27. Grameen Shamogree Purbanchal Ltd.
16. [Leadership – Dr. Muhammad Yunus] April 21, 2014
16 Mohaimin Ul Jobair Leadership - Assignment
28. Grameen Shamogree Uttaranchal Ltd.
29. BASF Grameen Ltd.
As per Grameen Bank reputation build up they create new companies to serve
better, to do put responsibility towards to society, to create more employment, to
give chance survive & show the talent though workforce. By these ways Grameen
Bank does their social responsibility &makes wealth in real world. Establish
themselves one of top listed companies in Bangladesh.
Rapid growth of Grameen Bank:
The successes of the Grameen Bank of Bangladesh have led to rapid growth in
funding for microfinance. For the time frame 1983-97, subsidy per person-year of
membership in Grameen was about $20, and subsidy per dollar-year borrowed was
about $0.22. By measureof consumer surplus for Grameen users, the evidence in
the literature suggests that surplus probably exceeds subsidy. Grameen—if not
necessarily other micro lenders—was probably a worthwhile social investment.
By the following graph we are able see the rapid growth of Grameen Bank since
the project starts. From 1976 to 2000 there growing level are increasing every year.
17. [Leadership – Dr. Muhammad Yunus] April 21, 2014
17 Mohaimin Ul Jobair Leadership - Assignment
From Grameen I to Grameen II
The problems faced by Grameen Bank in the late 1990s led to its senior staff
piloting a number of experiments with new products and new ways of managing
service provision. By early 2001 these had been consolidated and Professor Yunus
announced the launch of ‗Grameen II‘ – the replacement of the Bank‘s earlier
products by a new range on different terms. The components of Grameen II were
designed so that (i) they should meet client demand, and (ii) they should be
profitable for the Bank. Between March 2001 and August 2002 all Grameen‘s 1,200
branches were shifted from Grameen I to Grameen II products and systems.
Accounts of this process and the practice and outcomes of Grameen II are provided
by Rutherford et al. (2006) and Dowla et al. (2006).
The main elements of Grameen II are:
1. A major focus on savings from members and the public. This includes
voluntary savings, term deposits and the Grameen Pension Scheme (GPS)
– a long-term savings program.
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18 Mohaimin Ul Jobair Leadership - Assignment
2. The provision of flexible ‗basic loans‘ to members (rather than the
standardized Grameen I 12-month loans). These are for variable amounts,
can be repaid over three to 36 months, have negotiable repayment
schedules and interest rates are determined by loan type (size, length, grace
period, etc.).
3. The abandonment of joint liability (and the idea of social collateral).
4. A poverty-focused ‗struggling members‘ program, that provides small,
subsidized loans to beggars and encourages them to join Grameen Bank
centers.
Grameen Bank Tower, Mirpur 2, Dhaka, Bangladesh.
The results have been staggering. The Bank has not only been able to stabilize
itself but has, in effect, re-launched itself and its trajectory. While it took Grameen
25 years to reach a client base of 2.5 million, it took only three years, from 2001, to
recruit the next 2.5 million clients (Rutherford et al., 2006). Over the period 2002 to
2005 the Bank tripled the deposits it held (US$478 million) and doubled its portfolio
of outstanding loans. The Bank‘s loans portfolio became smaller than its savings
portfolio. It built up a large fund for bad loan provision and profits rose from 60
million Taka in 2002 to 442 million Taka (US$7 million) in 2005. This growth meant
19. [Leadership – Dr. Muhammad Yunus] April 21, 2014
19 Mohaimin Ul Jobair Leadership - Assignment
that physical expansion became essential and the Bank opened 500 new branches,
so that it had more than 1,700 branches, by late 2005.
While the Bank still proclaims its mission of poverty reduction, my personal
observations lead me to believe that its clientele is less economically deprived than
was the case in the 1980s and 1990s. This is partly because clients have done well
(perhaps through Grameen membership), and partly because of the product
redesign and the drive for expansion and profitability. Many of its clients would be
classed as non-poor or moderately poor by Bangladesh‘s official poverty line. A
much smaller proportion is extremely poor (the targets for Grameen I over 1975 to
2000). The ‗struggling members program‘ is targeted at the extreme poor, but by
December 2005 it had only 56,000clients, against more than 25 million extremely
poor people in the country. Average loansize for these members was only $6 and
their average savings were $1. While many poor and extremely poor people may
benefit indirectly fromGrameen II (through employment, increased demand for
products, greater availability of local level charity) the struggling members program
appears to be either failing ortokenistic.
Features of Grameen Bank II
Grameen Fund
Grameen Kalyan
Loans Paid Off At Death
Life Insurance
Deposits
Pension Fund for Borrowers
Loan Loss Reserve
Retirement Benefits Paid Out
Telephone for Ladies
Getting Elected in Local Bodies
Computerized MIS and Accounting System
Policy For Opening New Branches
Crossing the Poverty-Line
20. [Leadership – Dr. Muhammad Yunus] April 21, 2014
20 Mohaimin Ul Jobair Leadership - Assignment
'Stars' for Achievements
Analysis of the Criticism of the Grameen Bank:
Initially, it‘s important to point out that the economy perspective, which should be
applied in a comparative way. Additionally, the ethnography would have to follow
the women over a three to five year or even seven year period to get a full
perspective on the effect that micro lending. Finally, it may be that the Grameen
Bank has an organizational culture or structures that need to be changed, so the
article may not represent a systemic critique of micro lending as a means for
positive social change.
At Fixes, our focus is typically on implementing new or underutilized ideas to help
those in needs. But sometimes it‘s just as important to protect institutions that are
already working well. Which is today about the Grameen Bank, the Bangladeshi
organization that won the 2006 Nobel Peace Prize, along with its founder Dr. Prof.
Muhammad Yunus, for its work extending microloans to some of the world‘s
poorest, and has been crucial in global efforts to lift millions of people out of
poverty.
Both the bank and Yunus, have come under attack by the government of
Bangladesh and its prime minister, Sheikh Hasina Wazed. It has taken 35 years of
painstaking effort to build Grameen into a world-class institution that serves millions
of poor people. That progress could be lost if the country‘s leaders fail to appreciate
what makes the Grameen Bank works.
21. [Leadership – Dr. Muhammad Yunus] April 21, 2014
21 Mohaimin Ul Jobair Leadership - Assignment
Anyone who cares about international development, microfinance or social
entrepreneurship should pay attention. The Grameen Bank is not just the largest
micro lender in the world, with 8.4 million borrowers (most of them women villagers)
who received more than $1 billion in loans last year; it is the flagship enterprise in
an industry that, in 2009, served 128 million of the world‘s poorest families. It is also
a leading example and inspiration for millions of citizen-led organizations that have
been established in recent decades to address social problems that governments
have failed to solve.
Yunus, the founder of the bank, is an entrepreneurial figure cut from the same cloth
as Steve Jobs, the founder of Apple. He has devoted himself since the 1970s to
demonstrating, institutionalizing and spreading microfinance. Recently, the
government issued orders that Yunus is to be removed from his post as managing
director of the bank. Yunus has taken the case to Bangladesh‘s Supreme Court.
Legally, the government owns 25 percent of Grameen and has the right to appoint
a quarter of its board members, including its chairperson. In practical terms,
however, the government has little justification to intercede in the bank‘s
operations. Today, of the Grameen Bank‘s paid-up share capital, only 3.5 percent
comes from the Bangladeshi government. It is the bank‘s borrowers who are its
majority owners. They control 75 percent of the board seats and they have supplied
96.5 percent of the paid up share capital. And it‘s the savings of villagers — about
$1.5 billion — that now finances the bank‘s activities and growth.
Nevertheless, the government is proceeding to remove Yunus against the
objections of its majority owners and will probably succeed. The stated reason is
hollow: Yunus, who is 70, is over the mandatory retirement age in government
banks.
An Entrepreneur became threat for local Government:
22. [Leadership – Dr. Muhammad Yunus] April 21, 2014
22 Mohaimin Ul Jobair Leadership - Assignment
What‘s the real reason behind the government‘s attacks on Yunus? The most likely
explanation is that Yunus is being punished for criticizing the government and
making a bid to start a political party in 2007.
This is a threat to be taken seriously — not because the bank will collapse without
Yunus. The Grameen Bank is a strong, well-managed institution with 25,000
employees. It could probably withstand his departure. Indeed, given Yunus‘s age,
it‘s critical to pave the way for a successor. But if he is replaced in a manner that
diminishes confidence, the bank could face problems.
When an organization has a founder who is intimately associated with it the
leadership transition needs to be handled with great care. This is particularly
important because the Grameen Bank depends on unusually high levels of
motivation among its staff and high levels of trust among its borrowers. A forced
removal of Yunus that is seen as illegitimate, politically-motivated, or vindictive
could alienate thousands of employees and trigger a run on savings or loan
defaults.
Even the perception that it has come under the influence of the governing party, the
Awami League the present Government, could cause damage. Bangladesh has a
long history of banks and cooperatives being used as political instruments. The
state-owned banks have regularly extended loans to elite borrowers (who default at
high rates) as a form of patronage. Unlike Grameen Bank, which is financially self-
sufficient, the state banks are perpetually in need of cash infusions from the
government.
Here‘s an example of what could happen: The Prime Minister has made it clear that
she believes the interest rates are too high. Her concerns for the poor may be well-
intentioned. But historically, subsidized loans have been seen as goodies — and
have gone to the most powerful, not to those they were intended for: the poor.
Grameen‘s rates are, in fact, considered low among micro lenders, whose
administrative costs are far higher than that of traditional banks. However, if a
politically-minded managing director decided to cut the interest rate, it could
jeopardize the bank‘s solvency.
23. [Leadership – Dr. Muhammad Yunus] April 21, 2014
23 Mohaimin Ul Jobair Leadership - Assignment
Similarly, if the government installed a bureaucratic manager who failed to
appreciate the bank‘s entrepreneurial culture, it could suck the life out of the bank.
Managing a bank that actually works with poor women in village‘s means, above all,
recruiting people who care about the poor and training them in creative ways.
Before Grameen Bank workers get hired, for example, they spend close to a year
demonstrating their interest in serving the poor. They have to do things like write
detailed case studies about the lives of village women to show that they genuinely
care about, and understand, their clients. Managing this workforce is nothing like
managing a run-of-the-mill bank.
In an institution like this, the management needs to be perceived as honest,
responsive and open. If corruption, politicization or bureaucratic torpor began to
infect it, the disease would be irreversible.
The government has tried to maintain the appearance that its attacks are merely
about following the law. That is hard to believe. Over the past few months, officials
have sought to damage Yunus‘s reputation, claiming without evidence that he has
enriched himself at the expense of the poor, intentionally harmed borrowers, and
engaged in fraud. The prime minister has called micro lenders loan sharks ―sucking
the blood of the poor.‖ Her son circulated a letter which contained a litany of
unfounded accusations against Yunus — the most outrageous being that the
government created the Grameen Bank, not Yunus.
It‘s not as if Bangladesh is lacking real problems that require government attention.
There can be no sense in destabilizing the leading institution in an industry that
provides financing to more than half of the households in the country. In fact, the
field of micro-finance needs solid, innovative leadership today more than ever.
There remain questions about its effectiveness in alleviating poverty. It‘s crucial for
lenders to make honest appraisals of their impact and experiment with other
services to determine how it can be made to work better.
Implementation & Evaluate Strategies:
24. [Leadership – Dr. Muhammad Yunus] April 21, 2014
24 Mohaimin Ul Jobair Leadership - Assignment
In Bangladesh, there is also a potentially serious problem of villagers taking loans
from multiple lenders and getting overly indebted. For these and other reasons, it is
unwise for the government to try to tarnish or marginalize Yunus, whose
experience, global recognition and inventiveness are valuable assets for the whole
field.
On March 15, the Bangladeshi Supreme Court postponed ruling on Yunus‘s case
for two weeks. Hopefully, common sense will win the day and a solution will be
reached so that this vital institution — and the millions of villagers who depend
upon it for their livelihoods — are not jeopardized. Given that Yunus understands
Grameen‘s culture better than anyone, he should have a key say in any leadership
change.
Picture: Muhammad Yunus, center, outside the high court building in Dhaka,
Bangladesh, on March 6,2010 where he contested the government‘s decision to
remove him from his post in Grameen Bank.
25. [Leadership – Dr. Muhammad Yunus] April 21, 2014
25 Mohaimin Ul Jobair Leadership - Assignment
As we‘ve noted in several previous Fixes columns, the involvement of governments
in anti-poverty programs is often essential. Wise governments should view
microfinance programs not as adversaries, but as partners in furthering public goals
organizations that need to be regulated, but not controlled. Not all do. So it‘s
important for leaders of micro-finance organizations to take steps to safeguard their
independence well before political attacks come. Foreign governments and multi-
lateral institutions have invested hundreds of millions of dollars in the Grameen
Bank and other large microfinance organizations in Bangladesh, and elsewhere,
with the goal of alleviating poverty. They also need to remember that it‘s not
enough to finance development organizations. They need to protect them, too.
The future of the Dr. MuhammodYunus’sGrameen Bank:
The Grameen Bank looks as though it has a secure future as an MFI in Bangladesh
andshould remain a major player in the microfinance market, alongside other big
players,such as ASA and BRAC. It also seems set to remain a global icon, although
there is realconfusion about the message that the Bank and Professor Yunus
project.
Internationally, it is still perceived as a micro lending institution, focused on
extremelypoor women, despite the fact that it has adopted a market-based,
‗financial systems‘approach since 2001.
The confusion could be a cause for concern, but my personal analysis is more
positive.Within Bangladesh, Grameen now plays an important role as a substantial
MFI thatmeets client needs and helps to promote competition within the financial
markets. Itsviability is essential for this internal role, but also very important for its
external role. Hadthe Grameen Bank collapsed, then optimism about the feasibility
of poverty reductionand international development would have been dented. While
the internationalmessage associated with the Bank – microenterprise credit for
extremely poor womenlifts them out of poverty – is now inaccurate, the broader
thrust of this message – of hardworking poor people using their personal agency to
26. [Leadership – Dr. Muhammad Yunus] April 21, 2014
26 Mohaimin Ul Jobair Leadership - Assignment
overcome the problems they face –is highly appropriate for the public‘s and
politicians of rich countries. It helps the citizensof the rich world to understand that
poor people are active agents in the processes ofdevelopment and not passive
recipients of food aid and humanitarian relief, as the media(in the USA, Europe,
Japan and the Middle East) usually stereotype them. The GrameenBank today is a
very different organization from what it was 20 years ago, but it stillserves as an
inspiration for those trying to help poor and low- income people in their ownefforts
to improve their lives.
Conclusion:
Microcredit is not the cure for everything, but it is a force that can bring about
economic, personal, social, and political change. Poverty builds giant walls around
people. Grameen does not intend to give people a few nice days within these walls.
Grameen wants to give the people the strength to tear down the walls – and
ultimately establish an existence above the poverty level. Muhammad Yunus is a
man who works for change, an optimist who is genuinely convinced of change for
the good. If society would strongly promote self-reliance, poverty would not stand a
chance. We must simply make use of human potential. Every person is endowed
by nature to support herself or himself. Promoting this potential is the task not only
of government but of business. Greed is not the only driver of free enterprise;
Social benefit can replace greed as a powerful motor. The business world does not
have to be a battlefield of bloodthirsty capitalists. Good people can feel called upon
to steer the world sustainably in the right direction.
27. [Leadership – Dr. Muhammad Yunus] April 21, 2014
27 Mohaimin Ul Jobair Leadership - Assignment
References:
Gameen Bank & Grameen Foundation web site - www.grameen-info.org
Yunus Centre - http://www.muhammadyunus.org
Moral Heroes – Muhammad Yunus , Bangladesh, 20th Century, Asia,
Economic, Male - http://moralheroes.org/muhammad-yunus
Market Mix at Economical Sector - http://www.mixmarket.org/mfi/grameen-
bank
Hulme,.D and Arun, T.G. (forthcoming 2009) Microfinance: A Reader,
London,Routledge.
Fuglesang, A. and Chandler, D. (1986). Participation as Process: What Can
We Learnfrom the Grameen Bank, Bangladesh. Oslo, Norway: Norwegian
Ministry ofDevelopment Corporation.
Rutherford, S. with Maniruzzaman, Sinha, S.K. and Acnabin & Co. (2006),
‗GRAMEEN II- The First Five Years: 2001-2006‘, Grameen II Briefing Notes
for MicroSave. Onlineresource available at: http://www.microsave.org
Dowla, A. and Barua, D. (2006). The Poor Always Pay Back – The Grameen
II Story.West Hartford, CT: Kumarian Press.
Yunus, M. (1999). Banker to the Poor: Micro lending and the Battle against
Poverty.New York: Public Affairs.
28. [Leadership – Dr. Muhammad Yunus] April 21, 2014
28 Mohaimin Ul Jobair Leadership - Assignment
The Daily New York Times (Online Version)
http://www.nytimes.com/imagepages/2011/03/22/opinion/22fixesEimg.html