Founder of Grameen Bank of Bangladesh

The founder of Grameen Bank of Bangladesh is Mohammad Yunus. He is a Bangladeshi social entrepreneur, banker, economist, and civil society leader. Yunus is known for his work in microfinance, which involves providing small loans to poor individuals who are not able to access traditional banking services.

Establishment of Grameen Bank

Yunus established Grameen Bank in 1983 with the aim of providing microcredit to the poor in Bangladesh. The bank's mission was to provide financial services to the poor, particularly women, who were often excluded from the formal banking sector. Grameen Bank's innovative microcredit model has been widely replicated around the world, and it has helped to lift millions of people out of poverty.

The Bank's Philosophy

Grameen Bank's philosophy is based on the belief that people are not poor because they lack talent or ability, but rather because they lack access to resources and opportunities. The bank's approach is to provide small loans to individuals who are not able to access traditional banking services, and to provide them with the training and support they need to start their own businesses.

Impact of Grameen Bank

Grameen Bank has had a significant impact on poverty reduction in Bangladesh. According to the bank's own statistics, it has provided loans to over 9 million borrowers, 97% of whom are women. The bank's repayment rate is over 95%, which is higher than most traditional banks. In addition to providing loans, Grameen Bank has also provided other services, such as education and healthcare.

Conclusion

Mohammad Yunus's vision of providing microcredit to the poor has had a profound impact on poverty reduction in Bangladesh and around the world. His work has demonstrated that it is possible to provide financial services to the poor, and that this can help to break the cycle of poverty. Yunus's ideas have inspired many other organizations to adopt similar models, and his legacy will continue to shape the field of microfinance for years to come.