Grameen bank : bank of the poor

Economy is Bangladeshi Muhammad Yunus and the founding father of micro-credit programs, one of the financial innovations that have arisen with the Grameen Bank in Bangladesh, which was founded in 1976 as a project to turn later to the Bank of specialists in the year 1983, the most famous micro-credit programs in the world , where the proportion of women constitute more than 90%, with the rate of recovery of loans amounting to more than 95% , and in this regard, Muhammad Yunus was awarded this status with his Grameen Bank, Nobel Peace Prize in October 13, 2006 by the Swedish Academy in recognition of greeted the visit to the fight against poverty.

Successful experience of Bangladesh in micro-credit programs through the Grameen Bank - means Bank of the village - in the recovery of loans and access to the poor, attracted worldwide attention, has been replicated in more than 60 countries including the United States , and in many countries of the world developing low-income in order to fight poverty and social exclusion and financial discrimination.

By Rachid AJMAL

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