The Banking system that shouldn’t work: Grameen Bank!

On Monday 25 January,  I had the chance to see one on the movies in the Sundance Film Festival: To Catch a Dollar: Muhammad Yunus Banks on America.

If you’ve never heard about Muhammad Yunus, well you should definitely google him. He’s the founder of the Grameen Bank and was the Peace Nobel Prize laureate in 2006. The movie (or if you want documentary) follows Muhammad Yunus as he tries to raise awareness about the Grameen Bank and raise funds. I would very strongly recommend this movie.

Grameen Bank

It’s a bank for the poor. It lends small amounts of money to groups of 5 women that have a kindof business plan without any collateral. These women would probably never have been able to get money without such a bank except from loan sharks and we know the consequences of that.

The question that everyone asks is how can such a system work and everyone thinks that it won’t work in his country. Everyone thinks that it will fail but it’s at work in 43 countries!

So I wouldn’t say that it won’t work in Mauritius. I would just put it as “I don’t understand how it will work in Mauritius” but people all over the world are the same. If it has worked in so many countries why will it fail in Mauritius. So I just hope that they would set up a branch.

2 responses to “The Banking system that shouldn’t work: Grameen Bank!

  1. Hi, I’m half Mauritian half Italian I would like to meet you because me and my husband believe that Grameen Bank can work. We met Yunus Muhammad once and he gave us hope. The thing is we should live amongst the poor to understand as he did in Bangladesh. If you are interested into the thing we can meet up personally. We’ll be in Mauririus next month. Let me know and we’ll arrange to see each other to discuss the Grameen Bank in Mauritius.
    thank you
    Anna

  2. Hi Anna

    That’s really great. However, I’m currently not in Mauritius and won’t be there for some time but if you are interested, I could email some people I know and see if they would be interested in this.

    What I really like about the Grameen bank is compared to other initiatives (who very often talk about the poor but not to them), this one really gets in touch with poor people who want to help themselves. Grameen bank is this kind of second chance in life that I think everyone deserves.

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