3.5 Micro Finance Essay

1187 words - 5 pages

This chapter of solidarity economy refers to background and management of micro finance at Grameen Bank. Grameen Bank was which was found by Prof Muhammad Yunus in Bangladesh at 1983.

Background of Micro-finance began the reason why solve to reduce the bottom class of people in the modern. Prof Muhammad Yunus organized Grameen Bank in Bangladesh because they independently emerge from poverty situation through an access right of finance. His deeply motive was their existence of government inability, stereotype of public or private bankers, and a moneylender. They were control or persistence interest, not interesting, to impose multiple debts on the bottom class of people between an officer with local and center government and vested interest group. Prof Muhammad Yunus became these causes to stand up and take an action to solve facing a vicious circle. Grameen Bank took the way suited culture and characteristic of the man and woman that have to compose the responsibility and faith of each other between neighbors and a tendency to use for family than man. His small one step made successful systems and developing potential of good return rate and advancing women right. Grameen Bank was a success symbol of Microfinance that gave an influence to change an imagination of bank role, a grass‐roots levels of investing movement, and to be interested in the custom of sociality disadvantaged people in Bangladesh. Mr Muhammad Yunus tried to help something for Bangladesh which was ruined. Bangladesh was worst situation by a natural calamity and oil crisis. Bangladesh’s bottom class people went into the worst situation before. His mother country was damage in infrastructure and administration services after independent war. He thought a question, looked a poor people in the face, to be useless teaching academic lecture because he came back of helping for mother country. Firstly his pocket money was prosperity to pay small money for a woman if is able to take the money to get directly raw materials without confided by lender. The successful instance had a hope for making use of helping a real or not finances access poor people. However, almost bank and financing organizations were not interested in his idea. Because His written book says that they can’t believe a poor people a long time ago. They didn’t firstly actually corporate his movement. So Mr Muhammad Yunus and his students or followers found Grameen Bank lending small money to the center of woman in 1983. Grameen Bank was a successful example of Microfinance which could enlarge many branches and spread other countries to get many followers of center bank and other organization or country since then.

The Financing principle of Grameen Bank is developing the bottom of the people in the process of paying and repaying on the borrower’s view. Grameen Bank is based on financing principle for borrowers that take borrower’s needs and situation of human resource education, finance accessing way and...

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