Grameen Bank

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Grameen Bank

A bank in Bangladesh that pioneered modern microfinance. Grameen Bank makes very small loans to extremely impoverished persons to help them achieve self-employment so they are able to lift themselves out of poverty. Borrowers belong to five member groups; members encourage each other to repay the loan. Borrowers must agree to abide by 16 rules for social betterment. While critics contend that too many of Grameen's loans extract high interest rates, some are interest-free. Historically, Grameen has had very low default rates, though many borrowers pay late. It was founded in 1983 by Muhammad Yunus.
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According to Grameen, the knowledge workers must buy the phones and charging stations, they can pay them off monthly, a process that takes about two years.
His Grameen Bank has enabled eight million poor women in Bangladesh to borrow tiny sums, start cottage industries and work to lift their families out of poverty.
There are conflicting reports on whether Muhammad Yunus, founder of Grameen Bank, a microlending bank formed in Bangladesh, has been forced out.
Eventually however, a unanimous winner emerged, Grameen Khana from Ladypool Road in the heart of the Balti Triangle.
Grameen Foundation has announced that Mifos, its open source technology solution, has earned high marks in its first rating on the Microfinance Software Listings and Reviews published by the Consultative Group to Assist the Poor (CGAP).
14 million to Grameen Foundation and Fonkoze, a Haitian microfinance institution, it was reported Nov.
New York, United States, Sep 23, 2009 - (ABN Newswire) - Grameen Trust of Bangladesh and Alibaba Group (HKG:1688)(PINK:ALBCF) have joined hands to create the Grameen China initiative, an effort to provide micro-credit financial services to China's poorest residents to create income generating opportunities and help lift them to a higher standard of living.
There is nothing wrong with the poor," Yunus, founder and managing director of Bangladesh's Grameen Bank, said.
Grameen Bank, a personal project I started over 30 years ago, serves as a testament to the power of alternatives to the conventional banking techniques espoused by our current economic system.
1, 2015 /PRNewswire-USNewswire/ -- Grameen Foundation has announced the appointment of Fernando Henao Velasco as its new country director for Colombia.
Bangalore-based microlender Grameen Koota has selected Temenos T24 banking platform solutions.