The concept of the ‘Grameen Bank’ is the brain-child of Dr Muhammad Yunus, a professor of Economics Chittagong University. He is the founder and Managing Director of the Grameen Bank.
He understood that without improving the lot of the poor people, it is not possible to achieve economic development of the whole country. So, he came up with the idea of micro-credit and established the Grameen Bank. To the poor , this bank lends money which they can use in many productive activities. Proper steps are taken to ensure the best use of the money lent to the poor.
The system of lending money following this bank is very flexible. People can repay their installments from their profit. This bank has gained popularly across our country, particularly in rural areas.
The Grameen Bank’s success has been praised by many western countries. Some countries are following the strategy of the Grameen Bank to alleviate their poverty.
So, the Grameen Bank is now a model micro-credit bank in the world.
He understood that without improving the lot of the poor people, it is not possible to achieve economic development of the whole country. So, he came up with the idea of micro-credit and established the Grameen Bank. To the poor , this bank lends money which they can use in many productive activities. Proper steps are taken to ensure the best use of the money lent to the poor.
The system of lending money following this bank is very flexible. People can repay their installments from their profit. This bank has gained popularly across our country, particularly in rural areas.
The Grameen Bank’s success has been praised by many western countries. Some countries are following the strategy of the Grameen Bank to alleviate their poverty.
So, the Grameen Bank is now a model micro-credit bank in the world.
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