Grameen bank was estalibshed in 1976 in Bangladesh by Muhammad Yunus Bangladeshis were struggling in poverty and extortion by few individuals exploiting labor force abusing innocence of the rest. Muhammad Yunus could not sit by and watch what his people were going through and started to lend maximum 150 U.S dollars to only the 25% people with lowest income. Surprising point of this business is that it did not take interests for lending money. People could start their own small business to feed themselves by buying sewing machine or wheelbarrow and so many people could escape from extreme poverty. Miraculously, the principal collection ratio was 98%.

I wonder if I will be able to come up with the business that would not yield profit. Even if the business is successful, it only means no significant loss. Muhammad Yunus is a paragon of social entrepreneurs who considered improvement in their environment as their profit. I just admire the passion and bravery to believe in his people and the response of people with the best principal collection ratio a bank can have.

References

:http://www.grameen-info.org/index.php?option=com_content&task=view&id=19&Itemid=114

http://www.ctvnews.ca/grameen-bank-founder-hopes-he-can-help-canadians-1.569194