Poorman's Banker

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A young man from Bangladesh, who just finished his graduation at Vanderbilt University in the United States and was teaching at a college in Tennessee around the year 1972, was in an upbeat mood. The reason for elation was the offer from chittagong .to take up the position of the economics department. Being a keen student of economics, the young man thought that the offer was an opportunity for him to fully utilize his erudition gained in his favorite subject economics to alleviate the sufferings of his country men. Bangladesh is one of the most under developed countries in the world. And the other reason for his joy was that Bangladesh just became an independent country. Within no time, the young man realized that his Sonar Bangladesh (The golden Bangladesh) was in tatters. The country’s economy was collapsing. The situation was further worsened by the famine in 1974.people died in thousands and many people did not hesitate to migrate into the neighboring countries illegally The young man was frustrated to know that the knowledge gained in the class rooms of reputed universities of the world is not going to give succor to the poor. The young man did not waste his time. A survey conducted by him with the help of his students revealed that the main cause for the miseries of the poor is not just poverty.Explotation by the money lending sharks that trap the poor and ensure that they remain poor through out their lives. He drafted his plan, which eliminates money lenders. He will help the poor by advancing small loans from his pocket without demanding for guarantors or collaterals. He named the system as Graameena bank or village bank. initially he started with few poor identified through his surveys The poor man who availed the loan is able to earn more money as the money lenders are not there to gobble the lion’s share of his profit. This is why the loans are paid back without pain. The system proved a hit. The Graameena bank has become a mighty foce.The government seeing the bank’s stupendous success granted recognition. Another unheard of thing in a poor Islamic country is the majority share holders are women. Owners are the share holders. The graameena Bank has spread into every nook and corner of the country doing business in crores The once young man who is in his 60s today is happy on two counts. His single minded devotion is giving him fruits much beyond his expectations. His offspring, the graameena Bank has earned him the highest award Noble peace prize For the year 2006.and the young man is... You guessed it right,Dr.Mohammed Yunis.