Grameen microfinance

May 29th, 2016
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A detailed essay that gives an explanation on Grameen microfinance.

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Running head: GRAMEEN MICROFINANCEGrameen MicrofinanceNameCourseTutorInstitutionDate1GRAMEEN MICROFINANCE2Grameen bank was founded in Bangladesh by professor Muhammad Yunus in 1976. Itwas founded on a principle that states, loans are by far better than charity as means ofinterrupting poverty. In accordance with the principle and unlike other commercial banks, thebank targets the poor persons, women and the low income strata of the rural population whobares the cost of group formation and monitoring one anothers affairs. This is mainly because,the poor are believed to have endless potential thus the bank provides them with the perfectopportunity to unleash their creativity through the provision of microcredit.According to Bornstein (2005), the Grameen banks credit management process hasgreatly contributed to the success of the organization. In order to achiev

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