Microfinance Horizon

By Jeanette Okwu 19 December 2010 [CISB] Grameen Bank methodology is almost the reverse of the conventional banking methodology. Conventional banking is based on the principle that the more you have, the more you can get. In other words, if you have little or nothing, you get nothing. As a result, more than half the [...]

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10 December 2010 [Syminvest] Microfinance pioneer Grameen Bank on Wednesday welcomed a report by Norway that cleared its founder Muhammad Yunus of misusing aid money, removing a cloud that had hovered over the Nobel Peace Prize winner. Last week, a Norwegian documentary alleged that 96 million dollars had been diverted from Grameen Bank, which provides [...]

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6 December 2010 [SifyNews] Bangladeshi micro-credit pioneer Grameen Bank’s Muhammad Yunus has described allegations of diverting millions of dollars of aid money from the bank, as “total fabrication and baseless.” The BBC quoted the bank’s statement as saying that “mental agony” has been caused by an “inaccurate and misleading news report published globally regarding an [...]

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By Syed Tashfin Chowdhury 5 December 2010 [AsiaTimes] DHAKA – Claims that Muhammad Yunus, who was awarded the Nobel Peace Prize for his efforts in Bangladesh to provide small loans to the poor, diverted as much as US$100 million in funds from international donors to his own companies are being investigated by the Norwegian government. [...]

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By Eric Bellman 10 November 2010 [WSJ] Muhammad Yunus of Grameen Bank has repeatedly said in the past that turning the microfinance industry into a high-profit, high growth business could end up hurting the poor. (Photo Credit – Getty Images) Backlash against the booming microfinance industry that has thrown Andhra Pradesh into crisis may be [...]

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