Social EntrepreneurshipMuhammad Yunus and the Grameen Bank

Outline

1. Introduction to Mr Muhammad Yunus

2. Introduction to the Social Entrepreneur(s)

3. History and Impact of the Grameen Bank

4. Credits, Team Members

Earned a doctorate in economics from Vanderbilt University

Inspired by the Bangladesh famine to make a loan to a group of people so they could make items for a living.

Introduction to Muhammad Yunus

Born in 28 June 1940

3rd of 9 children in a Bengali Muslim family

In 1944 he moved to Chittagong and entered Chittagong collegiate school. Worked as a research

assistant in economics for a while.

History of the Grameen Bank - Background

1976

1983

2006

2015

Muhammad Yunus, a professor at university of Chittagong, founded Grameen Bank which aimed to provide banking services to rural areas.

Grameen Bank was approved.

The nobel peace prize was bestowed upon both the bank and founder

“Has 8.81 million borrowers and covers more than 97 percent of the total villages in Bangladesh”

History of the Grameen Bank - Goal & RationaleGrameen Bank’s main purpose is to combat POVERTY

in the hopes of eradicating it

The founder, Muhammad Yunus has witnessed moneylenders impose unfair interest rates on the poor people causing their business to

stagnate and prevent them from making money. Hence, Grameen Bank seeks to:Lend money to the poor under fair

conditions

In the hopes that they would make good use of the money to advance their economic interest

And eventually contribute back to the country’s society & development

Impact of Grameen BankGrameen Bank extends its services under the concept of microcredit which allows the bank to lend small amounts of money to those who:

1.Are Poor

2.Lack a stable job

3.Do not have anything as guarantee that they will pay back the loan

4.Lack a record stating their loan historyThus, this allows many to use the new gained money to start business such as bamboo work, embroidery, mat

making, etc

Impact of the Grameen Bank"Struggling members program":

It’s Target? Beggars.

Helps them to borrow at interest free with long repayment period and free of cost life insurance, easing their difficulties.

"Factory loans": It’s Target? Borrowers who worked from home.

Allowing their homes to be a factory, thus allowing them to earn more income.

“Village phone program”:It’s Target? Women Entrepreneur.It allows them to set up businesses that provide wireless

communication services.At the same time, those in the village can benefit from the information

gained from the new form of communication.

Credits, Team Members- http://www.relatably.com/q/muhammad-yunus-quotes

- http://www.grameenfoundation.org/blog/summary-recent-issues-surrounding-grameen-bank-and-prof-yunus#.V68N7Pl97X4

- http://www.grameen.com/index.php?option=com_content&task=view&id=16&Itemid=112

- https://www.wikiwand.com/en/Grameen_Bank

- http://www.grameen.com/index.php?option=com_zoom&Itemid=103

- https://www.wikiwand.com/en/Microcredit

- Team Members : Joshua Tsu, Keith Goh, Gerald Tan, Bryan Lee