Yunus, Muhammad. Banker to the poor.PublicAffairs. 273p. illus. index. c1999. 1-58648-198-3. $15.00. SA Newly appointed economics professor at Chittagong University in Bangladesh, Yunus began to feel frustrated frus·trate tr.v. frus·trat·ed, frus·trat·ing, frus·trates 1. a. To prevent from accomplishing a purpose or fulfilling a desire; thwart: by the abject poverty of his neighbors in contrast to the lofty economic theories he was imparting im·part tr.v. im·part·ed, im·part·ing, im·parts 1. To grant a share of; bestow: impart a subtle flavor; impart some advice. 2. to his students. Subsequent research in the villages revealed that lack of credit was the poor people's problem. Local moneylenders also working as middlemen kept them from making a fair profit. In utter To publish or offer; to send into circulation. The term utter is frequently used in reference to Commercial Paper. To utter and publish an instrument is to declare, either directly or indirectly through words or action, that it is good. frustration one day. handing $27 to an assistant to go and make the loans, Yunus determined to do more. Working with his local bank revealed a firmly entrenched en·trench also in·trench v. en·trenched, en·trench·ing, en·trench·es v.tr. 1. To provide with a trench, especially for the purpose of fortifying or defending. 2. lending policy that contributed to the problem. His struggle began. Some years later Grameen Bank Grameen Bank: see Yunus, Muhammad. 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 was granted a constitution and the legal protection of the Ministry of Finance. Yunus' book begins with a brief description of his childhood and education in Chittagong and relates how he became involved in the liberation of Bangladesh while a professor in the US. His incredible story is told in a simple, straightforward manner; no need to understand complicated economic theory to appreciate this book. It is a story of reaching out and improving the lives of poor people and proof that socially conscious-driven businesses can succeed. Grameen (meaning "rural" or "of the village") has grown to 1,190 branches working in 43,258 villages with 11,806 employees since its founding in 1983. It currently provides the same financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. that "real" banks provide. It is 93% owned by its membership with 95% of its borrowers women. Loan repayment percentage is 98.08% and it has realized a profit in all but three of its years in business. Yunus' plan for micro lending has evolved and spread into other parts of the world, including rural Arkansas under Clinton's governorship, gaining popularity among traditional banking institutions. Subject areas for this book are economics, social affairs, poverty, and women's studies women's studies pl.n. (used with a sing. or pl. verb) An academic curriculum focusing on the roles and contributions of women in fields such as literature, history, and the social sciences. . Ann Hart, Trustee, Juniata Cty. Lib., Mifflintown, PA S--Recommended for senior high school students. A--Recommended for advanced students and adults. This code will help librarians and teachers working in high schools where there are honors and advanced placement students. This also will help extend KLIATT's usefulness in public libraries. |
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