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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Dubai: The banking industry, both conventional and Islamic, should come forward to shoulder the responsibility of addressing the financing needs of the poor and the unbanked segments of population, said Nobel laureate Professor Mohammad Younus, founder of Grameen Bank in Bangladesh.
May 6, 2015 /PRNewswire/ -- Toastmasters International announced today that world-renowned economics professor, founder of Grameen Bank and humanitarian Muhammad Yunus is the recipient of the organization's 2015 Golden Gavel award.
Professor Mohammad Yunus established the Grameen Bank in Bangladesh in 1983, with the belief that credit is a fundamental human right.
Yunus, who is challenging the tax bill, was removed as head of the micro-lender Grameen Bank that he founded in 2011, in a move widely seen as orchestrated by Hasina.
In an exclusive interview, Vision talks to founder of Grameen Bank and Nobel Prize-winner Muhammad Yunus about the philosophy behind his caring approach to commerce.
In Bangladesh, the major microcredit programmes engaged by government organizations such as Bangladesh Rural Development Board (BRDB), Grameen Bank (GB), Pallil Karma Sahayak Foundation (PKSF), and Non government organization like Bangladesh Rural Advancement Committee (BRAC), Association for social Advancement (ASA), PROSHIKA, Palli Daridro Bimochon Foundation (PDBF).
The central bank of Bangladesh is planning to pay closer attention to Grameen Bank and this could translate into better oversight of the bank.
a joint venture Fast Retailing set up in August 2011 with the Dhaka-based Grameen Bank, which has been providing microfinance credits to Bangladeshis.
CARTHAGE(TAP) - "Tunisia could curb unemployment and reduce poverty provided that it adopts what is commonly called social and charitable works project,"Bangladeshi economist Muhammad Yunus, founder of the Grameen Bank and Noble Peace Prize recipient said Wednesday.
Professor Muhammad Yunus, winner of the 2006 Nobel Peace Prize and founder of Grameen Bank and Yunus Centre at the UN, Deputy Premiers, ministers and chairmen of institutions and banks attended.
Former US Secretaries of State George Shultz and Madeleine Albright have joined a growing chorus of global leaders, including present US Secretary of State Hillary Clinton, that have decried the Bangladeshi Government's latest moves to take over the Grameen Bank.
WASHINGTON, Aug 5 (KUNA) -- The United States expressed on Sunday concern about expanding the role of the government of Bangladesh in the Grameen Bank.