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Main article: "Grameen family of organizations

The Grameen Bank has grown into over two dozen enterprises of the Grameen Family of Enterprises. These organisations include "Grameen Trust, "Grameen Fund, "Grameen Communications, "Grameen Shakti (Grameen Energy), "Grameen Telecom, "Grameen Shikkha (Grameen Education), "Grameen Motsho (Grameen Fisheries), "Grameen Baybosa Bikash (Grameen Business Development), "Grameen Phone, "Grameen Software Limited, "Grameen CyberNet Limited, "Grameen Knitwear Limited, and "Grameen Uddog (owner of the brand "Grameen Check).[51]

On July 11, 2005 the Grameen Mutual Fund One (GMFO), approved by the Securities and Exchange Commission of Bangladesh, was listed as an "Initial Public Offering. One of the first mutual funds of its kind, GMFO will allow the more than four million Grameen bank members, as well as non-members, to buy into Bangladesh's capital markets. The Bank and its constituents are together worth over USD 7.4 billion.[52]

The Grameen Foundation was developed to share the Grameen philosophy and expand the benefits of microfinance for the world's poorest people.[53] Grameen Foundation, which has an A-rating from [Charity Watch],[54] provides microloans in the USA (the only developed country where this is done), and supports microfinance institutions worldwide with loan guarantees, training, and technology transfer.[55] As of 2008, Grameen Foundation supports microfinance institutions in the following regions:[56]


Some analysts have suggested that microcredit can bring communities into debt from which they cannot escape.[57][58][59] Researchers have noted instances when microloans from the Grameen Bank were linked to exploitation and pressures on poor families to sell their belongings, leading in extreme cases to humiliation and ultimately suicides.[60]

The "Mises Institute's "Jeffrey Tucker suggests that microcredit banks depend on subsidies to operate, thus acting as another example of welfare.[61] Yunus believes that he is working against the subsidised economy, giving borrowers the opportunity to create businesses. Some of Tucker's criticism is based on his interpretation of Grameen's "16 decisions," seen as indoctrination, without considering what they mean in the context of poor, illiterate peasants.[62]

Maulana Ibrahim, an "imam in Bangladesh, spoke out against the Grameen Bank in 1993 for fostering "un-Islamic ways." He alleged that the lenders' pledge required women to say they would not obey their husbands and would not live in poverty any more.[63]

The Norwegian documentary, Caught in Micro debt, said that Grameen evaded taxes. The Spanish documentary, Microcredit, also suggested this. The accusation is based on the unauthorised transfer of approximately US$100 million, donated by The Norwegian Agency for Development Cooperation (NORAD), from one Grameen entity to another in 1996, before the expiry of the Grameen Bank's tax exemption. However, NORAD published a statement in December 2010 clearing Yunus and the Bank of any wrongdoing on this point, following a comprehensive review of NORAD's support commissioned by the Minister of International Development[64].

Yunus denies that this is tax evasion:

There is no question of tax evasion here. The Government has provided organisations with opportunities; we have made use of these opportunities with aim of benefitting our shareholders who are the rural poor women of Bangladesh.[65]

David Roodman[66] and Jonathan Morduch[67] question the statistical validity of studies of microcredit's effects on poverty, noting the complexity of the situations involved.[68] Yoolim Lee and Ruth David discuss how microfinance and the Grameen model in South India have in recent years been distorted by venture capitalism and profit-makers. In some cases, poor rural families have suffered debt spirals, harassment by microfinance debt collectors, and in some cases suicide.

Representation in other media[edit]

See also[edit]


  1. ^ a b "Grameen Bank Act 2013". The Daily Star. Retrieved 30 December 2013. 
  2. ^ a b "Grameen Bank at a Glance". Grameen Bank. Retrieved 10 September 2011. 
  3. ^ a b c "Profit and Loss Account". Grameen Bank. Retrieved 10 September 2011. 
  4. ^ "Balance Sheet (1983–2010) in BDT". Grameen Bank. Retrieved 10 September 2011. 
  5. ^ a b c "What is Microcredit ?". Grameen Bank. Retrieved 11 March 2011. 
  6. ^ "A Short History of Grameen Bank". Grameen Bank. Retrieved 25 December 2011. 
  7. ^ "The Nobel Peace Prize for 2006". The Nobel Peace Prize for 2006. 13 October 2006. Retrieved 13 October 2006. 
  8. ^ Polgreen, Lydia; Bajaj, Vikas (2 March 2011). "Microcredit Pioneer Ousted, Head of Bangladeshi Bank Says". The New York Times. Retrieved 9 October 2012. 
  9. ^ Anand Giridharas; Keith Bradsher (13 October 2006). "Microloan Pioneer and His Bank Win Nobel Peace Prize". New York Times. Retrieved 13 October 2006. 
  10. ^ a b c Rahman, Aminur (2001). Women and Microcredit in Rural Bangladesh: Anthropological Study of Grameen Bank Lending. "Boulder, Colorado: "Westview Press. p. 4. "ISBN "0-8133-3930-8. 
  11. ^ a b c d "Banker to the poor
  12. ^ Brandon Glenn (16 October 2006). "ShoreBank leaders had hand in Nobel prize". Chicago Business News. Retrieved 15 May 2007. 
  13. ^ Papa, Michael J.; Arvind Singhal; Wendy H. Papa (2006). Organizing for Social Change: A Dialectic Journey of Theory and Praxis. Sage Publications. p. 72. "ISBN "0-7619-3435-9. 
  14. ^ Grameen Bank Historical Data. Retrieved 22 June 2009.
  15. ^ "Bangladeshi banker wins Nobel Peace Prize". United Press International. 13 October 2006. 
  16. ^ a b c Khandker, Shahidur R.; Baqui, M. A.; Khan Z. H. (1995). Grameen Bank: Performance and Sustainability. World Bank Publications. p. vi. "ISBN "0-8213-3463-8. 
  17. ^ *Morduch, Jonathan (October 1999). "The role of subsidies in microfinance: evidence from the Grameen Bank" (PDF). Journal of Development Economics. Elsevier. 60 (1): 240. "doi:10.1016/S0304-3878(99)00042-5. Retrieved 16 January 2008. 
  18. ^ "Challenge conventional economic models". The Daily Star. 
  19. ^ Yunus, Muhammad (2003). "Halving poverty by 2015—We can actually make it happen" (PDF). The Round Table: The Commonwealth Journal of International Affairs. Taylor & Francis. 92 (370): 363–375. "doi:10.1080/0035853032000111099. Financially, [Grameen Bank] is self-reliant—it has stopped taking donor money since 1995, stopped taking loans from the domestic market since 1998. It has enough deposits to carry out its lending programme. 
  20. ^ Fernando, Nimal A. (May 2006). Understanding and Dealing with High Interest Rates on Microcredit – A Note to Policy Makers in the Asia and Pacific Region (PDF). "Manila, "Philippines: "ADB. p. 8. 
  21. ^ Sherraden, Margaret S. (1998). Community Economic Development and Social Work. "Binghamton, New York: "Haworth Press. pp. 113–114. "ISBN "0-7890-0506-9. 
  22. ^ Siddiqui, Kamal, An Evaluation of the Grameen Bank Operation (Dhaka: National Institute of Local Government, 1984)
  23. ^ Hossain, Mahabub (February 1988) [1988]. Credit for Alleviation of Rural Poverty: The Grameen Bank in Bangladesh. Int Food Policy Res Inst IFPRI. p. 7. "ISBN "0-89629-067-0. 
  24. ^ Sinclair, Paul (22 December 2007). "Grameen Micro-Credit & How to End Poverty from the Roots Up". One World One People. Retrieved 4 February 2008. 
  25. ^ a b c d "Grameen Bank at a Glance". Grameen Communications. Retrieved 7 July 2009. 
  26. ^ a b Feiner, Susan F.; Barker, Drucilla K. (November–December 2006). "Microcredit and Women's Poverty". Dollar & Sense, The magazine of Economic Justice. Boston, US: Economic Affairs Bureau, Inc. 
  27. ^ a b Daniel Perl; Michael M. Phillips (27 November 2001). "Grameen Bank, Which Pioneered Loans For the Poor, Has Hit a Repayment Snag". Wall Street Journal. Retrieved 25 March 2008. 
  28. ^ Fraser, Ian (3 August 2007). "Microfinance comes of age". Cover Story. Scottish Banker magazine. Archived from the original on 7 October 2007. Retrieved 30 January 2008. 
  29. ^ a b "Grameen Bank-Village Phone Wins Global Competition for Contribution of Technology to Development" (PDF). Development Gateway Foundation (Washington, DC). 27 July 2004. Archived from the original (PDF) on 4 August 2005. Retrieved 31 January 2008. 
  30. ^ "Yunus, Muhammad (July 2005). "Grameen Bank's Struggling (Beggar) Members Programme". Grameen Communications. Archived from the original on 25 January 2008. Retrieved 31 January 2008. 
  31. ^ Barua, D. C. (12 November 2006). "Five Cents a Day: Innovative Programs for Reaching the Destitute with Microcredit, No-interest Loans, and other Instruments: The Experience of Grameen Bank" (PDF). Nova Scotia, Canada: Global Microcredit Summit; Nova Scotia, Canada. Archived from the original (PDF) on 26 February 2008. Retrieved 20 January 2008. 
  32. ^ Yunus 2007, p. 128: "In 1984 ... the Grameen Bank applied to the Central Bank for help in introducing a housing program to its borrowers ... The Central Bank rejected our application [because] whatever one built for $125 ... would not add to the 'housing stock of the country.'"
  33. ^ Yunus 2007, p. 129: "We sent in a second application [to make] 'shelter loans.' ... [The Central Bank] argued that our borrowers ... could not afford loans that did not generate income to help them pay off their debt ... We said we wanted to offer our borrowers 'factory loans' ... their homes are places of work, we choose to call them factories ... [The Central Bank] rejected our application for a third time."
  34. ^ Yunus 2007, p. 129-130: "I arranged for a personal meeting with the Central Bank governor to ask him to override his bureaucrats. 'Are you sure the poor will repay?' the governor asked. 'Yes, they will. They do. Unlike the rich, the poor can't risk not repaying. This is the only chance they have' ... The governor [allowed] Grameen to introduce a housing loan program."
  35. ^ Yunus 2007, p. 130: "We have extended a total of $190 million in loans to build more than 560,000 houses with near-perfect repayment ... Grameen's housing program was chosen in 1989 ... to receive the Aga Khan International Award for Architecture ... By 1989, the size of our typical housing loan had grown to $300."
  36. ^ Yunus, Muhammad (2007). Banker to the Poor. United States of America: PublicAffairs. pp. ix. "ISBN "978-1-58648-198-8. 
  37. ^ Yunus, Muhammad (2007). Banker to the Poor. United States of America: PublicAffairs. pp. 46–49. "ISBN "978-1-58648-198-8. 
  38. ^ Yunus, Muhammad (2007). Banker to the Poor. United States of America: PublicAffairs. pp. 51, 42. "ISBN "978-1-58648-198-8. 
  39. ^ "What is Microcredit". 2 March 2012. Retrieved 16 June 2016. 
  40. ^ "Muhammad Yunus on Microfinance . Enterprising Ideas . NOW – PBS". Retrieved 16 June 2016. 
  41. ^ a b "Grameen Bank Historical Data Series 2003". Grameen Communications. 21 July 2004. Archived from the original on 15 January 2008. Retrieved 17 January 2008. 
  42. ^ "Grameen Bank 2017-01 Monthly Report in BDT". Retrieved 10 February 2017. 
  43. ^ "Grameen Bank 2017-01 Monthly Report in USD". Retrieved 10 February 2017. 
  44. ^ a b "Grameen Bank 2011-10 Monthly Report". Retrieved 20 November 2011. 
  45. ^ "Microfinance:An emerging investment opportunity" (PDF). DB Research. Retrieved 23 February 2012. 
  46. ^ "Grameen Bank at A Glance". Grameen Bank. Retrieved 23 February 2012. 
  47. ^ a b "The Nobel Peace Prize for 2006". The Nobel Peace Prize for 2006. 13 October 2006. Retrieved 13 October 2006. 
  48. ^ "AFP, Oslo (11 December 2006). "Yunus unveils vision to end global poverty". "The Daily Star. Retrieved 31 January 2008. 
  49. ^ Mjøs, Ole Danbolt (13 October 2006). "The Nobel Peace Prize for 2006: Presentation Speech". The Nobel Peace Prize for 2006. Retrieved 4 February 2008. 
  50. ^ "Nation parties on Nobel win". "The Daily Star. 15 October 2006. Retrieved 4 February 2008. 
  51. ^ "Grameen Family of Enterprises". Grameen Website. Grameen Communications. 28 November 2007. Archived from the original on 22 August 2008. Retrieved 8 July 2009. 
  52. ^ "Credit where credit is due: The banker who changed the world". London: "The Independent. 14 October 2006. Retrieved 17 January 2008. 
  53. ^ "Grameen Foundation Annual Report 2006" (PDF). Grameen Foundation, Washington, DC, USA. 1 August 2007. Archived from the original (PDF) on 26 February 2008. Retrieved 31 January 2008. 
  54. ^ "Top Rated Charities". American Institute of Philanthropy. 15 January 2008. Retrieved 17 January 2008. 
  55. ^ "Grameen Foundation USA". 25 entrepreneurs who are changing the world. Fast Company Monitor Group. Retrieved 29 January 2008. 
  56. ^ "Where we work | Grameen Foundation". Grameen Foundation<!. Retrieved 20 December 2009. 
  57. ^ Sharma, Sudhirendar (25 September 2002). "Is micro-credit a macro trap?". The Hindu Business Line. Retrieved 2 December 2006. 
  58. ^ Sharma, Sudhirendar (5 January 2002). "Microcredit: Globalisation unlimited". The Hindu. Retrieved 2 December 2006. 
  59. ^ "France 24 (6 April 2008). "The crushing burden of microcredit". "France 24. Archived from the original on 15 March 2011. Retrieved 26 April 2011. 
  60. ^ "Mikrolånen har blivit en skuldfälla för fattiga (Swedish)". Archived from the original on 25 February 2011. 
  61. ^ "Tucker, Jeffrey (November 1995). "The Micro-Credit Cult. The Free Market". "Mises Institute. 
  62. ^ anne (3 November 2006). "Microcredit or Macrowelfare: The Myth of Grameen". Retrieved 16 June 2016. 
  63. ^ Hashmi, Taj ul-Islam (2000). "Women and Islam in Bangladesh: Beyond subjection and tyranny". "ISBN "978-0-312-22219-2. 
  64. ^ Affairs, Ministry of Foreign (2010-12-07). "Report on Norwegian assistance to Grameen Bank". Retrieved 2017-04-18. 
  65. ^ [1] Archived 18 February 2012 at the "Wayback Machine.
  66. ^ "David Roodman : Center for Global Development : CGD Experts". 22 October 2009. Retrieved 20 December 2009. 
  67. ^ "Jonathan Morduch's Home Page". Retrieved 20 December 2009. 
  68. ^ "New Challenge to Studies Saying Microcredit Cuts Poverty | David Roodman's Microfinance Open Book Blog". Retrieved 20 December 2009. 


Further reading[edit]

External links[edit]

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