09/05/2025
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About Grameen Bank
About Grameen Bank (GB)
Dr. Muhammad Yunus was inspired during the Bangladesh famine of 1974 to make a small personal loan of US$27 to a group of 42 families as start-up money so that they could make items for sale, without the burdens of high interest under predatory lending. Yunus believed that making such loans available to a larger population could stimulate businesses and reduce the widespread rural poverty in Bangladesh.
Nobel Laureate Dr. Muhammad Yunus, the bank's founder:
Yunus developed the principles of the Grameen Bank from his research and experience. Grameen Bank is Bengali for "Rural" or "Village" Bank.He began a research project, together with a national commercial bank and the University of Chittagong, extending microcredit to test his method for providing credit and banking services to the rural poor.The Grameen Bank project started in 1976 as an action research pilot project in "Jobra" village in Chattogram district of Bangladesh. In 1983, the pilot project was transformed into a bank with the aim of alleviating poverty and empowering the marginalized poor in Bangladesh through micro-credit.
The unique feature of Grameen Bank is that no collateral is required to get the credit from the bank. Unlike mainstream commercial banks that bring their clients to their shiny branch premises where the poor are afraid to be trampled, Grameen Bank carries its services to the comfort zone of its clients’ doorsteps. It has inspired the women and the weaker section of the communities to join the Grameen fraternity. All banking transactions except loan disbursement are done in the meetings of the borrowers at the village level centers o
