Banker to the Poor:Microlending and the battle against world Poverty by Muhammad Yunus

 

Banker to the Poor:Micro lending and the battle against world Poverty by Muhammad Yunus

    When Mohamed Yunus, founder of Grameen bank has an epiphany: he follows his instincts by going into poor villages in Bangladesh, to help the locals get out of poverty. The program requires a group of five to operate. As required by Grameen, an interested borrower must first pass an exam and also enlist others by explaining the program to them. Once they form a group, a chairman and secretary are elected. Then, two of its members requests a loan, typically for $25 each. Grameen encourages these groups to deposit 5% of each loan in a group-fund that can later be loaned out to members interest-free. After six weeks of successful repayment two more members may request a loan.( Justin Belkin )
 Yunus' bank comprises of 95% of women lenders, as its Yunus' belief that he can some how make a difference to the women who otherwise have no chance to work, and have no chance to support their children with husbands who cannot support them, because they are either dead or have a habit that consumes a lot of their money.  

The most memorable part of the memoir had to been when a young woman makes bread baskets so that she can trade them in the market, and have enough money to buy a small bowl of rice for her children.  When Yunus is told the cost of how much money she uses to buy the supplies to make the baskets, he realizes that she will never be able to make a profit and therefore she will never have enough money to buy more than a measley cup of rice for her family.  This same women would eventually join Grameen bank against her husband's wishes and later be able to support her family on more than a cup of rice a day.