Total Page : 344
Publisher : University Press Ltd Bangladesh
Publication Date : 2002 01 01
>> Intelligent Charity
Mohammad Yunus wasn t satisfied with the type of charity so common in today s world throw money at the problem feel good about ourselves and move along quickly so we don t have to see the fact that our actions may have only made the problem worse
Yunus s microcredit approach is about empowerment not dependency Small loans to the extremely poor enabled recipients to purchase weaving looms material to make baskets or carts to sell food His greatest revelation was that the extremely poor were not incapable societal parasites Rather with a small amount of capital to get on their feet these individuals created innovative businesses that ultimately supported themselves their families and education for their children
The most interesting discovery is that the payback rate for the loans was higher than 98 much better than the credit worthy borrowers that normally attract the attention of the banks
Yunus s ideas were inspiring With his economics background he emphasized that measurable results were more important than good intentions
>> Trusting the poorest of the poor
The author defies all the commonsense reasoning of the affluent western world He totally trusted the poorest of the poor to keep their word and pay their bills on time and to the amazement of the entire world they did
>> Great read very inspiring
The story of the Grameen Bank is absolutely one of the best I have ever heard Here is an actual solution to end poverty everywhere in the world that has worked already I could not have been more excited after reading this book that we finally have the means to end poverty once and for all I would recommend it to anyone who wants to actually get out there and do something
