You might wonder what is so great about this bank.
This bank was found by Mohammed Yunis in the year 1983. Because he got a noble prize the bank was not popular, the vision he had when establishing this bank made it popular.
Who is Mohammed yunis..?
Mohammed yunis is an Bangladeshi banker, economist and Nobel Peace Prize recipient. As a professor of economics, he developed the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. In 2006 Yunus and Grameen Bank received the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below". Yunus has received several other national and international honours. He was awarded the U.S.Congressional Gold Medal in 2010, and presented with it at a ceremony at the U.S. Capitol on 17 April 2013
what is the unique thing about Gramen bank?
Yunus developed the principles of the Grameen Bank (literally, "Bank of the Villages" in Bengali) from his research and experience. He began to expand microcredit as a research project together with the Rural Economics Project at Bangladesh's University of Chittagong to test his method for providing credit and banking services to the rural poor. In 1976, the village of Jobra and other villages near the University of Chittagong became the first areas eligible for service from Grameen Bank. Proving successful, the Bank project, with support from the central Bangladesh Bank, was extended in 1979 to the Tangail District (to the north of the capital, Dhaka). The bank's success continued and its services were extended to other districts of Bangladesh.
This bank was found by Mohammed Yunis in the year 1983. Because he got a noble prize the bank was not popular, the vision he had when establishing this bank made it popular.
Who is Mohammed yunis..?
Mohammed yunis is an Bangladeshi banker, economist and Nobel Peace Prize recipient. As a professor of economics, he developed the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. In 2006 Yunus and Grameen Bank received the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below". Yunus has received several other national and international honours. He was awarded the U.S.Congressional Gold Medal in 2010, and presented with it at a ceremony at the U.S. Capitol on 17 April 2013
what is the unique thing about Gramen bank?
Yunus developed the principles of the Grameen Bank (literally, "Bank of the Villages" in Bengali) from his research and experience. He began to expand microcredit as a research project together with the Rural Economics Project at Bangladesh's University of Chittagong to test his method for providing credit and banking services to the rural poor. In 1976, the village of Jobra and other villages near the University of Chittagong became the first areas eligible for service from Grameen Bank. Proving successful, the Bank project, with support from the central Bangladesh Bank, was extended in 1979 to the Tangail District (to the north of the capital, Dhaka). The bank's success continued and its services were extended to other districts of Bangladesh.
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