chenchow
16-08-2007, 10:58 AM
Dr. Muhammad Yunus - 2006 Nobel Peace Prize has been giving speeches in Malaysia for the past 2 days. Dr. Muhammad Yunus has been globally credited as Father of Micro Credit.
I was yesterday at Hilton KL to listen to Dr. Muhammad Yunus, and I would definitely say that his sharing is definitely awesome. His philosophy of lending money to people in poor area of Bangladesh, with no collateral is something earth-shattering. He has proved to commercial banks that people can be trusted, and Grameen Bank that he has started, has managed to obtain 99% pay back from the people who have borrowed from the bank.
His philosophy of letting borrowers deciding when they can pay back, and then help them to pay back, is really awesome. 90% of the equity of the bank is also owned by the borrowers. He started Grameen Bank in 1974 with USD27 and it has grown to providing USD6 Billion worth of loans to rural hardcore poor people.
I'm sure there are a lot of stuff we can learn from Dr. Yunus, especially from the way he put his whole heart into contributing back to community. He was relating how he went to empower the beggars, and each Grameen Bank employee guided 4 beggars each and out of 100,000 beggars that Grameen Bank helps, 10,000 of them (10%) have successfully stopped begging.
This thread could be a platform for ReComers to research on Dr. Yunus and shared what you have learned from Dr. Yunus here.
I include a short news report by Bernama from yesterday's talk here (http://www.bernama.com.my/bernama/v3/news_business.php?id=279492)
You could go to wikipedia (http://en.wikipedia.org/wiki/Muhammad_Yunus) to have a good analysis of Dr. Muhammad Yunus.
I was yesterday at Hilton KL to listen to Dr. Muhammad Yunus, and I would definitely say that his sharing is definitely awesome. His philosophy of lending money to people in poor area of Bangladesh, with no collateral is something earth-shattering. He has proved to commercial banks that people can be trusted, and Grameen Bank that he has started, has managed to obtain 99% pay back from the people who have borrowed from the bank.
His philosophy of letting borrowers deciding when they can pay back, and then help them to pay back, is really awesome. 90% of the equity of the bank is also owned by the borrowers. He started Grameen Bank in 1974 with USD27 and it has grown to providing USD6 Billion worth of loans to rural hardcore poor people.
I'm sure there are a lot of stuff we can learn from Dr. Yunus, especially from the way he put his whole heart into contributing back to community. He was relating how he went to empower the beggars, and each Grameen Bank employee guided 4 beggars each and out of 100,000 beggars that Grameen Bank helps, 10,000 of them (10%) have successfully stopped begging.
This thread could be a platform for ReComers to research on Dr. Yunus and shared what you have learned from Dr. Yunus here.
I include a short news report by Bernama from yesterday's talk here (http://www.bernama.com.my/bernama/v3/news_business.php?id=279492)
You could go to wikipedia (http://en.wikipedia.org/wiki/Muhammad_Yunus) to have a good analysis of Dr. Muhammad Yunus.