The micro finance model pioneered by Grameen Bank
has been a huge success in Bangladesh and several countries where the model has been adopted.
As of 2011, Grameen Bank
provides services in nearly all villages in Bangladesh.
Yunus was awarded the Nobel Peace Prize in 2006 for setting up the Grameen Bank
that offers 'microcredit' loans to the poor without requiring collateral.
It was in 2006 that the Norwegian Nobel Committee jointly awarded Yunus and Grameen Bank
the award "for their efforts to create economic and social development from below".
The Grameen Bank
concept of microcredit has been replicated in more than 60 countries around the world.
Muhammad Yunus was awarded the 2006 Nobel Peace Prize along with Grameen Bank
for their efforts to create economic and social development.
Historically Grameen Bank
has been 97 per cent owned by its customers, women from Bangladesh's poorest regions.
The United States is deeply concerned about recent actions the Government of Bangladesh has taken to give the government-appointed chairman of the Grameen Bank
Board control over the selection of the bank's new managing director", said acting deputy State Department spokesperson Patrick Ventrell in a statement.
is also known as the poor people's bank.
Professor Muhammad Yunus, founder of Grameen Bank
and Nobel Peace prize winner (2006) signed the MoU with Tricoire in Rio de Janeiro, Brazil.
Dhaka, May 16 (Xinhua-ANI): The Bangladeshi government Wednesday formed a commission to determine a better fate of Grameen Bank
after Mohammad Yunus was removed from the post of managing director of the organization last year.
She met World Social Economic Summit president, founder of Bangladeshi Grameen Bank
and Nobel Peace Prize winner Professor Mohammed Yunus, in the presence of Family Bank chief executive officer Dr Atef Al Shabrawi and discussed co-operation between the Family Bank and the Grameen Bank