epub Banker to the Poor: Micro-Lending and the Battle Against World Poverty – Carcier.co

Muhammad Yunus is that rare thing a bona fide visionary His dream is the total eradication of poverty from the world In , against the advice of banking and government officials, Yunus established Grameen, a bank devoted to providing the poorest of Bangladesh with minuscule loans Grameen Bank, based on the belief that credit is a basic human right, not the privilege of a fortunate few, now provides overbillion dollars of micro loans to than two million families in rural Bangladesh Ninety four percent of Yunus s clients are women, and repayment rates are nearpercent Around the world, micro lending programs inspired by Grameen are blossoming, with than three hundred programs established in the United States alone Banker to the Poor is Muhammad Yunus s memoir of how he decided to change his life in order to help the world s poor In it he traces the intellectual and spiritual journey that led him to fundamentally rethink the economic relationship between rich and poor, and the challenges he and his colleagues faced in founding Grameen He also provides wise, hopeful guidance for anyone who would like to join him in putting homelessness and destitution in a museum so that one day our children will visit it and ask how we could have allowed such a terrible thing to go on for so long The definitive history of micro credit direct from the man that conceived of it, Banker to the Poor is necessary and inspirational reading for anyone interested in economics, public policy, philanthropy, social history, and business Muhammad Yunus was born in Bangladesh and earned his PhD in economics in the United States at Vanderbilt University, where he was deeply influenced by the civil rights movement He still lives in Bangladesh, and travels widely around the world on behalf of Grameen Bank and the concept of micro credit


10 thoughts on “Banker to the Poor: Micro-Lending and the Battle Against World Poverty

  1. Abby Abby says:

    Muhammad Yunus and I are best friends Oops, I had to double check, and I d spelled Muhammad wrong Sorry, buddy Anyways, me and Mr Yunus are best friends because once he spoke at the library in Salt Lake City, and when I heard about it I drove down and sat shyly on the back row of the auditorium and clapped really hard for him Then after it was all over, I saw him just kind of hanging out all alone on the stage, and thought, Maybe I could go and meet him and we could be best friends So Muhammad Yunus and I are best friends Oops, I had to double check, and I d spelled Muhammad wrong Sorry, buddy Anyways, me and Mr Yunus are best friends because once he spoke at the library in Salt Lake City, and when I heard about it I drove down and sat shyly on the back row of the auditorium and clapped really hard for him Then after it was all over, I saw him just kind of hanging out all alone on the stage, and thought, Maybe I could go and meet him and we could be best friends So I went down and said, Mr Muhammad Yunus, I just think you are the greatest guy in the whole world and I love you Then he goes, Oh, thank you and he HUGS ME I have hugged Mr Yunus Or, I guess, he has hugged me That s why we are best friends.Then, like the next day or maybe the same day , I went to the Stadium of Fire in Provo, UT, and he was one of the honored people of the Freedom Festival and got an award on stage in front of millions or thousands of people And I yelled Hey buddy and he waved in my general direction That s the story of our friendship.So anyways, the reason why he is so cool is this he is the guy who started the whole idea of micro credit, where he would give very small loans like, 2 to poor women who would then start their own business, rise above generations and generations of poverty, and save the world He set up the most amazing programs with groups of women, and has the highest repayment percentage in like, the entire world His program grows and grows and grows and helps woman and families all over the place When the LDS church started up the Perpetual Education Fund, I thought, HEY That s totally just like Muhammad s idea Maybe President Hinckley read his book, too Oh, and it all started in his native Bangladesh There is some website where you can do micro loans with your own money My sister sent it to me once after I made her read this book I invited her to see Muhammad Yunus in SLC, but she declined, and so she is not his friend But, she might have that website still.Banker to the Poor is a cool book Read it


  2. Lyn Lyn says:

    After finishing this book, I wanted to shout, Yeah Preach it, brother Really cool book Yunus won the 2006 Nobel Peace Prize for his decades of work He is an academic who roles up his sleeves and produces something practical His book should be embraced by Christians, conservatives, liberals, libertarians, and Dave Ramsey After finishing this book, I wanted to shout, Yeah Preach it, brother Really cool book Yunus won the 2006 Nobel Peace Prize for his decades of work He is an academic who roles up his sleeves and produces something practical His book should be embraced by Christians, conservatives, liberals, libertarians, and Dave Ramsey


  3. Ryan Ryan says:

    Truly an amazing book I highly recommend this to anyone interested in development, poverty, or those wanting to learn about micro lending He is truly an incredible man with a heart of infinite passion and hope This book will stay in memory for quite some time.


  4. Riku Sayuj Riku Sayuj says:

    Highly recommended A true must read book.


  5. Christine Christine says:

    This book provides an informative overview of Grameen Bank and micro lending, but I think that its argument in favor of micro lending would be stronger if Yunus spenttime addressing the arguments of critics Although some criticisms are mentioned briefly, Yunus brushes them off quickly As one example, I think that Yunus far too quickly rejects the arguments that poor people living in the developed world would not benefit from micro lending in the same ways as the poor of Bangladesh I thi This book provides an informative overview of Grameen Bank and micro lending, but I think that its argument in favor of micro lending would be stronger if Yunus spenttime addressing the arguments of critics Although some criticisms are mentioned briefly, Yunus brushes them off quickly As one example, I think that Yunus far too quickly rejects the arguments that poor people living in the developed world would not benefit from micro lending in the same ways as the poor of Bangladesh I think that he seriously underestimates the different attitudes that poor Westerners have, especially in light of the fact that their poverty is generally much less extreme Moreover, unlike the rural Bangladeshi poor who tend to have skills like basket weaving, I am uncertain that the average poor American would have marketable skills that could be translated into income opportunities.This book has a tendency to be preachy, and, in my view, becomes a little boring at times Still, it isaccessible and readable than I would expect for a book about an economic idea I think that Yunus notion that worldwide poverty can be entirely eradicated through micro lending is way off base If mciro lending is the means to end poverty, why does Bangladesh remain one of the poorest countries in the world Yunus idea that micro lending could completely supplant the need for any safety net including for health care is, in my view, harmful and should properly be viewed as an ideology of the far right


  6. Azwa Ahmad Azwa Ahmad says:

    I read a 20 pages report written by a group of MBA students from Columbia Business School and it was as concise, succinctly put as this 200 pages book on Grameen Bank microcredit The importance of open access to resources is indispensable Hence, I agree with Muhammad Yunus that the current financial system has inevitably, and is successful in sidelining the neediest, which eventually gives birth to the need to establish alternative institutions that work on social benefits as the underlying I read a 20 pages report written by a group of MBA students from Columbia Business School and it was as concise, succinctly put as this 200 pages book on Grameen Bank microcredit The importance of open access to resources is indispensable Hence, I agree with Muhammad Yunus that the current financial system has inevitably, and is successful in sidelining the neediest, which eventually gives birth to the need to establish alternative institutions that work on social benefits as the underlying guidance in providing their services to the people The establishment of the bank and many other replicators might seem to be successful in helping these people to break the poverty cycle, however exploitative forces still persist within the parameter Labeling these people as the untapped resources and knowing how profitable they all are once tapped, lure the profiteers in Consequently from this, we can see that the establishment itself has become counterproductive not all however It makes me think and feel extremely appalled by the greediness and the very fact on how destructive human beings can actually be Besides, I too agree with the fact that Grameen Bank might be one of the solutions to poverty, not THE ultimate solution for it, taking into account that it could not make a dent on the national or even worldwide poverty crisis despite the fact that the program has a widespread reach Though it is noble in its very own values, I was disappointed with the insufficient details from the borrowers accounts on how microcredit has served and helped them to combat poverty The mere statistically glorious achievements attained by Grameen Bank with 90 % repayment rate, XX% borrowers managed to cross over the poverty line and whatnots fail to quench the thirst I have in knowing what does microcredit really mean to the impoverished Yunus stated that everybody should be seen as potential entrepreneurs and access to credit is vital for the people to realize this Yet I hardly can see how successful the poor people are in transforming themselves from nobodies into entrepreneurs, thanks to the painfully brief victorious stories written by Yunus I was itching with curiosity to know the real, detailed stories from these people s perspectives How do they make do with the microcredit being lent to them What lead them to engage in the business that they are doing Is training really not necessary for these people Besides, there are things that Yunus had failed to mention in this book and one of those was the reasoning behind the creation of Grameen bank II, which I had come to know when I read the report I mention above the operational crisis due to the 1995 boycott movement, 1998 floods and moral hazard that the classic Grameen model had inflicted upon the borrowers In regard to this, I think that this book has been sugarcoated, with unaddressed crises and issues deepen my doubt about how successful Grameen Bank is beyond the statistical measures on social ground that is


  7. Bunly Bunly says:

    Dr Yunus could prove it is possible to lift the poorest out of poverty He could open eyes of bankers who stick with the idea that lending could happend only when collateral is secured His experience ilustrates the private sector is not only for the greedy but also for social minded individuals I would recommend the book to anyone who wish for a poverty free world.


  8. PDXReader PDXReader says:

    This book has much in common with


  9. A Man Called Ove A Man Called Ove says:

    3.5 5 What an uplifting story Hats off to Muhammad Yunus , Amidst his disastrous campaign that for the 2014 Lok Sabha campaign Rahul Gandhi said something profound amidst all the nonsense A rising tide raises all boats, but you need a boat to rise with the tide What does he who does not have a boat do This is the story of Nobel Laureate Yunus s Grameen Bank The Grameen bank provides collateral free loans to those wh 3.5 5 What an uplifting story Hats off to Muhammad Yunus , Amidst his disastrous campaign that for the 2014 Lok Sabha campaign Rahul Gandhi said something profound amidst all the nonsense A rising tide raises all boats, but you need a boat to rise with the tide What does he who does not have a boat do This is the story of Nobel Laureate Yunus s Grameen Bank The Grameen bank provides collateral free loans to those who do not have a boat and who seem to be bound to a life of virtual slavery It has perfected micro credit by which it is sustainable recovery rate of 98% and doesnt depend on grants and charity It has also pulled millions of people out of abject poverty by giving them the means to be self employed And it has also inspired many others in other countries to follow its model which have been largely successful too.Having said that, I think Yunus over rates self employment like Mahatma Gandhi and our own MNREGA devised by Congress led UPA It can pull people out of poverty but it is not the complete solution for prosperity Also, hard to concur with his views that state should step out of health and education and encourage social entrepreneurship Or that population growth density in Bangladesh and some other parts of the world is not a problem worth focusing on.Will be readingon the subject by Jeffrey Sach and others


  10. Helena Helena says:

    Very interesting read especially during my visit to Kenya where I ve visited a micro finance bank More on the book here Very interesting read especially during my visit to Kenya where I ve visited a micro finance bank More on the book here