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Grameen Bank

   Also found in: Financial, Wikipedia, Hutchinson 0.01 sec.
Grameen Bank: see Yunus, Muhammad Yunus, Muhammad, 1940–, Bangladeshi economist and banker, b. Chittagong (then in British India), grad. Vanderbilt Univ., Nashville, Tenn. (Ph.D. 1971).
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Grameen Bank

Bank in Bangladesh, the first bank to specialize in small loans for poor individuals. Originated by economist Muhammad Yunus, the Grameen banking model is based on groups of five prospective borrowers who meet regularly with Grameen Bank field managers. Typically, two of the five prospective borrowers are granted loans. If, after a probationary time period, the first two borrowers meet the terms of repayment, then loans are granted to the remaining group members. Peer pressure acts as a replacement for traditional loan collateral. Grameen became an independent bank in 1983; headquartered in Dhaka, Bangladesh, it has more than 2,200 branches in the country. An average Grameen loan is about $300. The Grameen model has come to symbolize an efficient means of helping the poor by providing them with opportunities to help themselves. Nearly all of Grameen's loan recipients have been women. In 2006 Grameen Bank and Yunus were awarded the Nobel Prize for Peace.
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Nobel laureate Muhammad Yunus, who along with his Grameen Bank won the peace prize in 2006 for his work in Bangladesh, said leaving the world's banking system in more or less the same state would not help the poor.
Yunus laments unreformed Bangladesh banking sector by AFP / AFP South Asian Edition
Fawziea Hamad Al Mubarak, member of the fund's board and director of the Loans and Equities Department, representing Mohammed Al Suwaidi, acting director general for the Fund, and Bangladesh's Professor Muhammad Yunus, Nobel Peace Prize winner and founder of Grameen Bank, signed the MoU, in the presence of senior ADFD officials and visiting delegates.
MoU Boost for Grameen Trust by Khaleej Times (Dubai, United Arab Emirates)
Grameenphone is 38-percent-owned by Grameen Telecom, a subsidiary of micro-finance giant Grameen Bank, which was set up by 2006 Nobel peace prize winner Muhammad Yunus.
Bangladesh's Grameenphone IPO 'oversubscribed' by AFP / AFP Asian Edition
 
 
 
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