Samstag, 15. Oktober 2011

Muhammad Yunus idea of fighting the poverty

Hey guys,
i just want to use this blog to introduce you to a big man in the business world. Maybe some of you have allready heard something about him. His name is Muhammad Yunus and he is from Bangladesh. He received the nobel peace price for inventing microcredits in Bangladesh and starts the grameen Bank which is also called the Bank of the poor. He fights against the poverty in his country with giving credits to poor people without any security. This works because the credits are always given to a small group of woman.The women get the money and everybody in the group is responsible for paying the money back even the loan from the other groupmembers. In the beginning its only a small amount of money but it increases after succesfull repaying. This system works very good in Bangladesh and the women can start there own small business and earn more and more money to make it bigger. I really like the idea of helping people so that they can help themselfs. For further informations about this topic watch on : or!

The next picture shows again how the system works:

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