Download file to see previous pages...
It works like a cooperative wherein borrowers and depositors are owners, and are paid regular dividends. It is different because of the conventional methodology it uses. The bank offers loans without collateral to the poorest of the poor like beggars. Grameen bank stopped getting donations and loans because they deemed that they had enough resources for operation.
Prof. Yumus was prompted to resign from his position because of the Supreme Court ruling that he must retire since he had reach the retirement age already. Yumus is already 70 years old, while retirement age is 60. Yumus wanted to contest this ruling because prior to the SC ruling he was already willing to resign but under different terms but was not allowed by members. He wanted to leave the bank in a prestigious way.
Many believe that the conflict is political because of the “blood bath” between Yunus and the Prime Minister of Bangladesh for the reason that Yunus planned to start a political party in 2007. Yunus later on, did not continue with the idea, but the hatred had started and because of this, he had gathered powerful enemies.(Epatko, Larisa, March 2011).
Still another conflict that lingered with the bank was after a documentary was aired investigating a Norwegian Aid Funds being transferred from one entity to another in order to preserve bank’s tax exempt status. Eventually, investigation proved that there was no anomaly or fraud in the transaction.(Epatko, Larisa)
The situation illustrates potential tension between the stakeholders of Grameen bank, the civil society and the government because of the government’s attacks that Yumus is trying to evade taxes following the release of the Norwegian documentary (Dhaka, Jan. 6, 20ll). Further to this, is the seeming insistence of the government to find faults in the Grameen bank’s operations. The government has just announced that it will conduct an
...Download file to see next pagesRead More
The author of the paper states that Muhammad Yunus is the person who is to be credited for coming up with such a unique concept of Grameen Bank in Bangladesh that started in the year of 1976. He believed that credit is a human right, and everyone should be allowed to receive the facility of loans.
Microfinance has gained popularity in recent years as an effective measure to eradicate poverty in third world countries. Although, it is not the only tool for the alleviation of poverty, it follows the concept of self help, that instead of giving the poor man a fish a day, teach him how to fish and he will never go hungry.
Muhammad Yunus, the Nobel prize winner, was the one who had conceived the idea in 1976 and had provided personal guarantee for the initial loan to the villagers. He believed that lack of access to finance greatly hinders poor people’s entrepreneurial potential.
Its business operations spans across 160 countries and jurisdictions. Citibank provides its customers (individuals, corporations and governments) with a variety of financial products and services which includes consumer banking, corporate and investment banking, credit , transaction services, securities brokerage and wealth management (Citigroup, 2013a).
This paper analyses the structure of the proposed central bank for GCC, its objectives and functions as well as why the implementation has been retarded. Introduction Economic structures of countries in the GCC region are similar as most of them have their GDP majorly influenced by natural minerals and more so hydrocarbon sectors.
The formation of the Central Bank includes a study of the probable form or structure of the Central Bank in GCC. The operations of the Central Bank in GCC have been compared to the operations of the European Central bank based in Frankfurt, Germany. The arguments in favour and opposing the formation of the Central Bank have been provided in this piece of work.
Basically, like any other banks and companies, it started from scratch and with nearly 300 years of banking experience, one cannot help but to wonder, why is it that this bank has become a force to reckon with in terms of banking prowess since majority of the banks in the UK are using the same banking format, offering the same interest rate With this, one could have the idea that there is a special ingredient or formula which the Bank imposes in which the customers have this sense of satisfaction that is why they keep on coming back to once again avail the services that this bank offers.
Therefore the slope of the curve denotes the growth rate of inequality at low per-capita income levels and the rate of declining of inequality at high per-capita income levels.
By drawing Lorenz Curves of two countries in the same panel the income