Professor Dr. Muhammad Yunus Muhammad Yunus is a banker to the poor and economist who was born on 28 June 1940 in Bangladesh. He was a professor of economics and is famous for his work in microcredit. Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983 to help the poor by giving out small loans. He turned the idea into Grameen Bank‚ which has made small loans to more than 7.5 million people now. His first loan was $27 given from his own pocket. This $27 was loaned to
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Women on every part of the world at one point or another have had to deal with discrimination due to fact that they are women. Unfortunately there are some countries where women suffer this injustice to a whole other level to the point where they cannot even provide for their family because they cannot attain a job or develop their own business due to lack of sufficient funds. It is because of this vicious cycle of poverty that programs such as structural adjustment and microcredit were created in
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F E At U r E | YUNUS 1 F E At U r E 9.2 the role of the corporation in Supporting Local Development BY MUhAMMAD YUNUS At SoL’s Global Forum held in Oman last year‚ Nobel Prize winner Muhammad Yunus‚ the founder of Grameen Bank‚ joined Roberto Bocca‚ director of emerging consumer markets at BP Alternative Energy; Lynne Dovey‚ director of strategic planning at the Ministry of Economic Development in New Zealand; Shaikh Saleh Al-Turki‚ the chairman of the Jeddah Chamber of Commerce and
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According to the suggested questions‚ cash flows to equity = Net Income + Depreciation – Capital Expenditure + Net New Borrowing. All data is included in the sheet named Value. A problem we face is the value of Net New Borrowing. We know from the directions that SKS will maintain capital equal to 14% of loans. So Net borrowing = (1-14%)* amount disbursed – amount disbursed‚ and Net new borrowing is the difference between this quarter’s Net borrowing and previous quarter’s Net borrowing. We also calculate
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Project Shakti The Internet Marketing of Project Shakti HUL is India’s largest fast moving consumer good company and is a 51.55 percent owned subsidiary of the Anglo-Dutch Unilever‚ a Fortune 500 transnational. HUL employs 36‚000 people and claims to touch the lives of two out of three Indians. The old Shakti Web site gives the following objective: "to create income-generating capabilities for underprivileged rural women‚ by providing a sustainable microenterprise opportunity‚ and to improve rural living
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Importance A microfinance bank is one devoted to extending small loans‚ referred to as microloans‚ to individuals‚ businesses‚ and organizations in low-income regions‚ including under-developed countries where small amounts of money can go a long way. Some financial institutions are devoted entirely to microfinance‚ while others are part of larger companies‚ such as global investment banks. Ultimately‚ a microfinance bank provides credit to those who would otherwise be unable to access this form
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come from the world of the rich or the relatively well off. More important than the hedge fund or the liquid yield option note was the finding that the poor can save‚ can borrow‚ and will certainly repay loans. This is the world of microfinance. Definition Microfinance may be defined as "provision of thrift‚ credit and other financial services and products of very small amounts to the poor in rural‚ semi-urban or urban areas for enabling them to raise their income levels and improve living standards"
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Turkish Grameen Microcredit Program The Turkish Grameen Microcredit Program‚ applying the Grameen microcredit model developed jointly by the Turkish Foundation for Waste Reduction of Turkey and 2006 Nobel Peace Prize Laureate Professor Dr. Muhammad Yunus and working in direct collaboration with him‚ was launched in Diyarbakir on July 18‚ 2003 with the first microcredit checks given out by Prime Minister Mr. Recep Tayyip Erdogan. To date‚ the Program runs successful operations in Diyarbakir(with
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Introduction: Grameen Bank (GB) has reversed conventional banking practice by removing the need for collateral and created a banking system based on mutual trust‚ accountability‚ participation and creativity. Grameen Bank provides credit to the poorest of the poor in rural Bangladesh‚ without any collateral. At Grameen Bank‚ credit is a cost effective weapon to fight poverty and it serves as a catalyst in the overall development of socio-economic conditions of the poor who have been kept outside
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Small and medium sized enterprises are gaining popularity all over the world and in Kenya in particular. This has necessitated the need for establishment of micro finance institutions to support this sector. The growth of micro finance institutions has been due to the response to this need. IN Kenya‚ there is several micro finance ranking from individual owned institutions to cooprporate based institutions. K-REP has been the fore front in promoting his sector among other new players like Equity
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