Archive for the “Bank” Category
Grameen Bank
Sunday, August 9, 2009 | 2:28 amThe Grameen Bank of Bangladesh was founded in 1975 by Mohamed Yunus. The philosophy of this bank was to provide small time credit to the working class and to free them from the clutches of the money lenders. This system was micro credit became so popular that lots if banks started replicating the model. This model went on to become a study in the field of economics. The founder Mohamed Yunus was recently awarded with the Nobel Peace Prize for his innovative idea for uplifting the lives of many poor people in his country. Despite the Grameen Bank loaning to small time vendors and operating on micro credit, they have managed to run the business with a profit.
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(posted in Bank)
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