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Grameen Bank, Muhammad Yunus , and “Social Business”

Grameen Bank, Muhammad Yunus , and “Social Business”. Per L. Bylund Robert J. Trulaske, Sr. College of Business University of Missouri. Muhammad Yunus. মুহাম্মদ ইউনুস Born 1940, from Bangladesh Ph.D. in economics from Vanderbilt University Strong sense of solidarity

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Grameen Bank, Muhammad Yunus , and “Social Business”

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  1. Grameen Bank, Muhammad Yunus, and “Social Business” Per L. Bylund Robert J. Trulaske, Sr. College of Business University of Missouri

  2. Muhammad Yunus • মুহাম্মদ ইউনুস • Born 1940, from Bangladesh • Ph.D. in economics from Vanderbilt University • Strong sense of solidarity • Anti-capitalist, pro-market stance: charity is no solution; it only creates dependency and takes away individual's initiative 

  3. Birth of an Idea • Yunus lent $27 to a group of 42 familiesduring the Bangladesh famine in 1974 • Provided meanstoproduce small items for sale • Protectedthemfrom “predatory lending” • Idea: make suchloansavailableto the whole population

  4. The Grameen Idea • Assumption: the poor have skills that are under-utilized because of a lack of capital • Solution: offer collateral-freemicroloans as group-based credit • Instead-of-collateral: utilize the peer-pressure within the group to • ensure the borrowers follow through • use caution in conducting their financial affairs • ensure repayment eventually

  5. “Bank of the Villages” • Founded 1983 • 22,000+ employees in 2,100+ branchoffices • No writtencontractswithcustomers • 98 % of customersarewomen • “over 95%” repayment rate of loans

  6. Nobel Prize • The Nobel Peace Prize 2006 was awarded jointly to Muhammad Yunus and Grameen Bank "for their efforts to create economic and social development from below” • Yunus: Poor Man's Banker http://www.nobelprize.org/mediaplayer/index.php?id=146

  7. Yunus’ “Social Business” • The Social Business Model: http://www.youtube.com/watch?v=0C3XQ3BTd4o

  8. A Different View • “The Micro Debt” (2011) documentary • Grameen Voices: http://www.youtube.com/watch?v=PS0sP48Pm5M

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