LYCOS RETRIEVER 
Grameen Bank: Credit
built 264 days ago
Grameen Bank has now become a national institution that provides credit to the rural poor in Bangladesh. It is today ... owned by the poor, whose paid up share capital amount to Taka 200 million. Credit provided by Grameen in 1994 exceeded the total amount of all other financial institutions and NGOs put together in Bangladesh. Grameen is committed to the goal of alleviation of poverty and empowerment of the rural poor. To fulfill its strategic objective, Grameen has grown institutionally, its credit operations have expanded rapidly and its programmes have become more diversified.
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Grameen Bank gives loans to individuals or group. The member-borrower alone is responsible for his/her loan although there exists informal inter-locking responsibility among the members of a group. The bank has a sixteen-point guideline for implementation of its credit delivery and the social development programmes. All members of the Grameen groups are to know and follow this guideline, which teaches them to follow and advance the principles of discipline, unity, courage and hard work. It instructs the Grameen beneficiaries to bring prosperity to their families, reconstruct and repair their own houses to avoid living in dilapidated houses, grow, eat and sell vegetables all the year round, plant trees, keep the families small, minimise expenditure and save more, look after their own health, educate their children, keep children and the environment pollution free, build and use pit-latrines, drink tubewell water or boiled water, give up the practice of child marriage, avoid taking and paying dowry, refrain from doing any injustice on any one, undertake collective and bigger investments, follow the rule of mutual help, restore discipline in case of breach or violation by the fellow members, introduce physical exercise at all centres, and take part in all social activities collectively.
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Grameen Bank has reversed the conventional banking wisdom by removing collateral requirement and created a banking system which is based on mutual trust, strict supervision, accountability, participation and creativity. At GB, credit is the entry point and it serves as a catalyst in the overall development process. GB sees credit as an empowering agent, an enabling element in the development of socio-economic conditions of the poor who have been kept outside the banking orbit on the simple ground that they are poor and hence not bankable.
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The main functions of Grameen Bank are to provide collateral-free credit facilities in cash or in kind to landless persons for various types of income-generating and livelihood activities. The bank ... accepts money on deposit, borrows money (against its assets as the security, or otherwise) for the purpose of its business excluding business in foreign exchange transactions. It invests in government securities, provides professional counsel to landless persons regarding investment in small business and cottage industries, and carries out survey and research.
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Grameen Bank, well-known for its micro-credit programs in Bangladesh, is empowering the poor by arming beggars with mobile phones so they can sell a roving service for cash. There is wide spread poverty among the 130 million population of Bangladesh where per capita income is only USD 444.
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The Grameen Bank is becoming an icon for microcredit, low-income households, women's access to credit etc. And so are the articles, case studies, and other material on GB. A collection of them is presented below.
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