A
bank is a financial institution that provides people with money for their
economic development as well as takes money from them as deposit. But the
Grameen Bank not only provides money but also arranges training for the rural
poor people. Most of the efficient banks are not willing to lend money to the
poorer section of the society whereas the Grameen Bank gives loan to the poor
and to the downtrodden. Dr. Yunus, professor of Economics Department in Chittagong University, is the pioneer of
micro-credit and the founder and managing director of the Grameen Bank. In 1976
Professor Yunus began a research-work about poverty alleviation and later
established the Grameen Bank to help the poor people. The project first started
working in a village
of Chittagong district.
Afterwards the Government declared the Grameen Bank in 1983. Now there are a
lot of branches of the Grameen Bank all over the country. This bank gives loan
especially to the poor rural women. By proper using of that money, the poor
women can change their lots. They can establish poultry firms and by selling
eggs they can earn money to support the family. Before borrowing money the
interested people are to make 5-6 groups of workers, each having five members.
They should also have a centre, where the bank will work to give loans and
receive payment of loans. Two or three thousand taka is given to each member to
invest the money in a profitable business. People are to pay a small interest
to the bank and are to follow certain rules and procedures of the bank. Besides
giving loan and training, the bank also encourages the people to school their
children, follow family planning etc. It cannot be denied that the Grameen Bank
plays a vital role in alleviating poverty. Now many impoverished people coming
above the poverty line are eating three square meals instead of one and are
living with family members happily. To acknowledge this contribution, the
Grameen Bank and Dr. Yunus recently have been awarded Nobel Peace Prize. It is
undoubtedly a great achievement and a tremendous success in banking activities