Grameen Bank provides credit to the poorest in Bangladesh, without any collateral. It is owned by the poor borrowers of the bank who are mostly women. The bank’s success continued and its services were extended to other districts of Bangladesh.By a Bangladeshi government ordinance on October 2, 1983, the project was authorized and established as an independent bank. The meeting has become the main platform for social businesses worldwide to foster discussions, actions and collaborations to develop effective solutions to the most pressing problems plaguing the world
More recently, Grameen has started bond sales as a source of finance.

Grameen Bank (GB) has reversed conventional banking practice by removing the need for collateral and created a banking system based on accountability , mutual trust, creativity and participation . The bank’s repayment rate suffered from the economic disruption following the 1998 flood in Bangladesh, but it recovered in the subsequent years. Grameen Bank in Bangladesh. The bank … Grameen Bank Project was born in the village of Jobra, Bangladesh, in 1976. In 2013, Bangladesh parliament passed ‘Grameen Bank Act’ which replaces the Grameen Bank Ordinance, 1983, authorizing the government to make rules for any aspect of the running of the bank.The bank is also engaged in social business and entrepreunership fields. In 1976, the village of Jobra and other villages near the University of Chittagong became the first areas eligible for service from Grameen Bank.Proving successful, the Bank project, with support from Bangladesh Bank, was extended in 1979 to the Tangail District (to the north of the capital, Dhaka). What about the Grameen Trust ? In 2013, Bangladesh parliament passed ‘Grameen Bank Act’ which replaces the Grameen Bank Ordinance, 1983, authorizing the government to make rules for any aspect of the running of the bank. The Grameen Bank Project (Grameen means “rural” or “village” in Bangla language) came into operation with the following objectives:eliminate the exploitation of the poor by money lenders;create opportunities for self-employment for the vast multitude of unemployed people in rural Bangladesh;bring the disadvantaged, mostly the women from the poorest households, within the fold of an organizational format which they can understand and manage by themselves; andreverse the age-old vicious circle of “low income, low saving & low investment”, into virtuous circle of “low income, injection of credit, investment, more income, more savings, more investment, more income”.The action research demonstrated its strength in Jobra (a village adjacent to Chittagong University) and some of the neighboring villages during 1976-1979. With the sponsorship of the central bank of the country and support of the nationalized commercial banks, the project was extended to Tangail district (a district north of Dhaka, the capital city of Bangladesh) in 1979. Grameen Bank provides credit to the poorest in Bangladesh, without any collateral. The Governor of Bangladesh Bank along with other distinguished guests at the opening ceremony of the Banker-SME Women Entrepreneur Conference & Product Display Fair-2020. In 2009, the Grameen Creative Lab collaborated with the Yunus Centre to created the Global Social Business Summit. BB Governor Mr. Fazle Kabir along with high officials at 12th Strategic Planning Workshop, Bangladesh Bank, 06-08 February 2020, Khagan, Savar, Dhaka. By the mid-1990s, the bank started to get most of its funding from the central bank of Bangladesh. Grameen Bank is also different from traditional banks in that it has a financially self-reliant model. Bankers Ron Grzywinski and Mary Houghton of ShoreBank, a community development bank in Chicago, helped Yunus with the official incorporation of the bank under a grant from the Ford Foundation. The origin of Grameen Bank can be traced back to 1976 when Professor Muhammad Yunus, Head of the Rural Economics Program at the University  of Chittagong, launched an action research project to examine the possibility of designing a credit delivery system to provide banking services targeted at the rural poor. As a result of the success of the Grameen approach in Bangladesh, Grameen Trust, a sister organization, was established in 1989, to promote Grameen replication programs in other countries. The Grameen Trust seeks donations, to finance new Grameen Bank replications all over the world, and to scale up the existing ones until they become viable. In the initial years, donor agencies used to provide the bulk of capital at low rates. Grameen Bank's default rate is about 2%, astonishingly low compared with what Bangladesh's commercial banks suffer: about 70% for agricultural loans and 90% for industrial loans. Today Grameen Bank is owned by the rural poor whom it serves. The Grameen Bank in Bangladesh is an experiment in self-reliance. The difference, Yunus says, lies in the psychology of the borrowers. The bonds are implicitly subsidised, as they are guaranteed by the Government of Bangladesh, and still they are sold above the bank rate. The origin of Grameen Bank can be traced back to 1976 when Professor Muhammad Yunus, Head of the Rural Economics Program at the University of Chittagong, launched an action research project to examine the possibility of designing a credit delivery system to provide banking services targeted at the rural poor. At Grameen Bank , credit is a cost effective weapon to fight poverty and it serves as a catalyst in the over all development of socio-economic conditions of the poor who have been kept outside the banking orbit on the ground that they are poor and hence not bankable .The founder of “Grameen Bank” – Muhammad Yunus,  and its Managing Director, reasoned that if financial resources can be made available to the poor people on terms and conditions that are reasonable and appropriate ,”these millions of small people with their millions of small pursuits can add up to create the biggest development wonder.”As of October , 2011, it has 8.349 million borrowers, 97% of whom are women.
Its success has inspired similar projects in more than 40 countries around the world, including a World Bank initiative to finance Grameen-type schemes.The bank has gained its funding from different sources, and the main contributors have shifted over time. By 2006, Grameen Bank branches numbered over 2,100.


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