Monday, July 6, 2009

His Name is Muhammad Yunus


His name is Muhammad Yunus. He is the founder of something called the Grameen Bank.

I just got his book: Banker to the Poor: Micro-lending and the Battle Against World Poverty at the Library.

I have heard of this initiative. I have some pre-conceived notions.

1.) He is a Muslim, so he does not charge interest on his loans. It will be interesting how he supports himself and the Grameen Bank. Does he charge fees? Does he share profit? Does he have wealthy benefactors?

2.) I assume that he functions in the so-called free-market. If so, do the businesses he loans to function to meet specific needs of the local poor communities and what happens when those needs are met? If that is the way they function, I suspect that they identify other needs.

That's all I want to say for now, until after I read the book.

Suggest you read it as well. Then perhaps, we can discuss.

Thanks for alerting me to this.

Mike Morin

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