Grameen Bank Bangladesh

Mohammed Yunus
"People know what they want to produce. Money plays the trick. If you assume the poor person is unskilled then she won't be able to do what she needs to do. But, she has skills and she has 101 ideas to make money. ...I can do better than that person."

"I have no money. Without capital I will die."

general loan - small business
women can work. this is why we give women money.
we don't give loans to the mena.
"if women go to the meetings, this is against Islam"
if you want to do this and your husband gives permission, come back tomorrow
money given to women goes more to the family than the when given to the men

"From an islamic point of view, the Grameen Bank is illegal. .. it charges interest, it encourages Islamic women to go out and be seen in public. It has destoryed traditional familiy ties

Before teh Grameen bank, my moneylending business was doing great. now nobody comes to me. It has ruined my business... people said my interest rate was too high. They said, you chanrge too much. ..I was here before Grameen bank. I never forced you to borrow from me.

They charge 20% per month (money lenders) Grameen Bank is less.

Grameen Bank founded for people who don't own land. Eligibility conditions - only people who are landless and poor. You join a club. Condition of being poor is a condition only as entry point. If you have land you can borrow form othe banks.

Conventional banks have concept of collateral to keep poor people out. They are anti-poor and anti-women.

If one of the members cannot pay, the rest of us will pay. we are responsible for the people in the group. We help each other in difficult times.

A problem was people who did not start their business but used the money up for themselves.
We can only help someone like that for a short period.

"Women should not be seen in public. Allah does not want them to go out in public. They should listen to the Koran. allah has sai, I will put them in hell... If you take money on profit, that is interest. you're not allowed to take money. You can take goods, not money. That's illegal. Do you understand?"

We pay interest in instalments to the gentleman.

"One, Two. One, Two, One, Two. Aram. (Relax) Unity, Work, Discipline, that is our way of life. Grameen Bank has come. Grameen Bank light has come, spread it to every house. We will observe discipline. We will not leave Grameen Bank."

"They must not sing and dance to get the money." We were frightened by others. They teased us. My husband will not allow me to join because they dance.

They must conduct a market nventory: What do you want to do for your work. If you have a cow, how will you pay it back? Bamboo work and a goat may generate more money.

"You must learn to write your name to get the money. You may not put a fingerprint."

"Most borrowers never had a chance to go to school. She gets to excited when she learns how to spell her name. A tremendous amount of satisfaction comes with learning how to spell her name!"

A lot of false ideas. This is an effort to Chistianize. People believe it to be a threat against Islam.

"It is a tremendous feeling for her to have money. She has never handled money in her life. The person who joins Grameen. In one year, she is almost unrecognizable."

She learns to bargain, she learns to advocate for heself.

Today, there are 45 countris around the world doing these programs. This is the way it goes on. More an dmore opportunities to help people. plannign a People's summit on microcredit.

people threatened me. they said they bank would come get me and throuw me into the river.
If a wife keeps her husband happy, prays five times a day, fasts regularly, when she dies, she goes traight to Allah's heaven. But, if she goes out, she loses her favor. A jackfruit consists of many sweet parts. if you separate teh parts adn take them to the market, the flies will get them and nobody will get them. Teh parts have become worthless. In order to retain their sweetness, they must stay inside.

"We do not travel naked. We go by workshaw. We have to work to survive." (Borrower) If they don't allow us to join the bank, will they feed us?

The men used to work in teh fireld. The men are not doing anything now. The women do the work.

Reactions:
- poor are skilled
- poor are willing to work
- key philosophies: group work, unity, discipline, work (they are not poor b/c they're lazy)
- trusting the power of women to make a difference
- finance is underpinned by TRUST that poor undereducated women can receive and be responsible with a loan b/c of skills, ideas, work, and desire to help their family
- overcoming community dogmas, social pressure requires great self-efficacy
- working from the grassroots up, but working with structures (banks, religions, social systems)

Grameen Techonogy & Creative Center

Local institutions:
Microbusiness Mentors in Provo ($500 loan)
Different cultures operate differently, but the common denominator that works is WOMEN.
There are no "one size fits all" solutions.
Look at the household economy as well as the business perspective.