Help The Poor!

Muhammad Yunus

• Professor Muhammad Yunus is founder and Managing Director of Grameen Bank. He dedicated himself to alleviate poverty. Since Grameen Bank’s inception in 1976, he founded 25 companies, all of which aim at improving the living situation of the poor. In 2006, he and Grameen Bank received the Nobel Peace Prize for their efforts to create economic and social development from below.

What is Grameen Bank about

• Grameen Bank provides financial services to the rural poor of Bangladesh. Those services include loans, saving accounts, pension plans and loan insurance. The overall goal of Grameen Bank is the elimination of poverty.

• The Head Office of Grameen Bank is located in Mirpur-2, Dhaka, Bangladesh. However, the actual banking takes place in thousands of villages in rural Bangladesh. Grameen Bank is present in all regions of the country.

• It is a self-reliant bank with profits annually.

To whom does Grameen Bank target?

• Women in Bangladesh are neglected by society. Through the opportunity of self-employment and the access to money, Grameen Bank helps to empower those women. In addition, studies have shown that the overall output of development is greater when loans are given to women instead of men, as women are more likely to use their earnings to improve their living situations and to educate their children. Since poverty is thrive in the rural parts of Bangladesh, people especially women are not entitled to basic necessities due to lack in financial capability. The Grameen Bank helps these people especially targeting women in need.

• The Grameen Bank also differentiates from commercial banks by laxing their loan requirements, so to allow people in need to acquire loan more easily.

The success of the Grameen Bank

• 1994, Grameen Bank received the Independence Day Award in 1994, which is the highest government award.

• October 13, 2006, the Nobel Committee awarded Grameen Bank and its founder, Muhammad Yunus, the 2006 Nobel Peace Prize "for their efforts to create economic and social development from below.

• Citizens of Bangladesh widely celebrated the success of Grameen Bank.

Credits

Team :Sundar VikneshChen Jin LongLin Shi Bang

Source: www.grameen.com