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Grameen Bank
(redirected from Grameen)

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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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Summary: ABU DHABI u The Abu Dhabi Fund for Development (ADFD) signed a Memorandum of Understanding (MoU) on Monday with Grameen Trust for cooperation in mitigating poverty in Bangladesh and developing countries.
MoU Boost for Grameen Trust by Khaleej Times (Dubai, United Arab Emirates)
Grameenphone is 38-percent-owned by Grameen Telecom, a subsidiary of micro-finance giant Grameen Bank, which was set up by 2006 Nobel peace prize winner Muhammad Yunus.
Bangladesh's Grameenphone IPO 'oversubscribed' by AFP / AFP Asian Edition
It's growing higher," said Jorgensen, president of Grameen America, the United States affiliate of Grameen Bank, a micro-finance institution started in Bangladesh in 1983 that provides loans, savings programs, credit establishment and other financial services to the working poor.
Grameen America has now set its sights on a North Carolina Charter by Samaad, Michelle A. / Credit Union Times
 
 
 
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