At times I felt like Yunus was too excited and dedicated about the Grameen Bank to be honest about the challenges of micro lending (he continuously seemed to rush past those sections or somewhat glossing them), but it was still really interesting/inspiring to see how he structured the bank around community ownership and accountability. • Yunus learned how to be a banker by doing the opposite of what traditional banks did, particularly making small loans to the poor, women and people with no credit. There's a problem loading this menu right now. Other readers will always be interested in your opinion of the books you've read. Preach it, brother!". Post liberation, Bangladesh was a shattered country with extreme poverty. “Let us take pride in our human identity above all other identities.” What if we really can, starting right now, eliminate poverty - worldwide. Yunus started by handing out loans to the poorest because according to him, the term poor is vague and often overused. It was nice to see how much good this company brought into the world. In Banker to the Poor Muhammad Yunus, the inventor of microloans, tells how a small loan from his own pocket to a painfully poor Bangladeshi woman grew into a program and philosophy that has expanded and been adapted around the world in a diversity of societies from Southeast Asia to Chicago. I think that he seriously underestimates the different attitudes that poor Westerners have, especially in light of the fact that their poverty is generally much less extreme. Yunus resigned his job in USA and went to Bangladesh in 1972 with lot of idealism and hope. Banker to the poor tells the enthralling story of Muhammad Yunus, who set up the Grameen Bank in Bangladesh to lend tiny sums to the poorest of the poor, who were shunned by ordinary banks. It first ran in the November 12, 2006 issue of BookBrowse Recommends. Yunus started by handing out loans to the poorest because according to him, the term “poor” is vague and often overused. In it he traces the intellectual and spiritual journey that led him to fundamentally rethink the economic relationship between rich and poor, and the challenges he and his colleagues faced in founding Grameen. Loved it! The book also brings about the awful lending policies of most banks (which continue to date) and global corporations like World Bank. Banker to the Poor is Muhammad Yunus's memoir of how he decided to change his life in order to help the world's poor. Book also showcases how World Bank is one of the biggest sources of corruption in the developing countries. It really destroys our preconceptions of the poor and how we might help them rise out of poverty. A bank that refused donor funds because they didnt need it anymore. After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. This is an autobiography of a great man Mohammed Yunus who is also a recipient of Nobel Peace Prize. The must-read summary of Muhammed Yunus' book: "Banker to the Poor: Micro-Lending and the Battle Against World Poverty". Charity only perpetuates poverty by taking the initiative away from the poor. More on the book here: Mohammed Yunus is a revolutionary for championing the concept of micro-lending. Muhammad Yunus and I are best friends. You can write a book review and share your experiences. How can you be sure that the poor can’t pay? Yunus is right, somehow we treat poor like they are children ; they dont have knowledge, wisdom or skill to improve their lifestyle. What if it really just starts with, say, $27? Reviewed in the United States on May 21, 2013. As kids, we once always dream about growing up and changing the world for better. Professor Yunus chose to think from the box. How can you be sure that the poor cant pay? 3.5/5 What an uplifting story ! What a life, what an institution and what a book! A bank focused on serving women in a country rampant with gender inequality. Let us know what’s wrong with this preview of, Published It’s been a long learning curve for him. Banker to the Poor by Muhammad Yunus is the story of the Grameen bank program, which is founded in Bangladesh by Yunus to help the poor. Definitely recommend! Reviewed in the United States on July 23, 2016. One School at a Time. And like all pioneers his success comes from questioning the absolute fundamentals- why need collateral for credit? It was during this time that bankers started courting villages in large numbers. On the same lines of thoughts, he founded Grameen Bank. Micro-lending means lending loans to extremely poor people so that they can use that credit to rise above the poverty line. Directed by Marco Amenta. Just a moment while we sign you in to your Goodreads account. For full access become a member today. I thought the book was fairly well written, and the message was very inspiring. In all a great and insightful read. In 2006, Yunus and the bank were jointly awarded the Nobel Peace Prize "for their efforts, Dr. Muhammad Yunus is a Bangladeshi banker and economist. His system both encourages initiative and gives necessary support. Muhammed Yunus has worked tirelessly for the poorest of the poor. This book provides an informative overview of Grameen Bank and micro-lending, but I think that its argument in favor of micro-lending would be stronger if Yunus spent more time addressing the arguments of critics. Hats off to Muhammad Yunus. Reviewed in the United States on July 8, 2009. This book review of ” Banker to the Poor: Mirco-lending and the Battle Against World Poverty” by Muhammad Yunus entails the focus of making micro loans specifically to rural women and the kind of leadership trait he used and why. comment. Disclaimer: much of the banking talk was over my head. Muhammad Yunus is one inspiring man — finding creative, community-based solutions to poverty and inspiring countless others across the world with his grand dreams and practical enterprise. Charity allows us to go ahead with our own lives without worrying about the lives of the poor. Banker to the Poor is his autobiography. Let us take pride in our human identity above all other identities. It was nice to see how much good this company brought into the world. But, the difference that small credit can make upon the lives of people is immense. Banker to the Poor: Micro-Lending and the Battle Against World Poverty is an autobiography of 2006 Nobel Peace Prize Winner and Grameen Bank founder Muhammad Yunus. I was with him until he disclosed that he had the answer for remaking the world's economy; I don't think that any one person or system has the answer to that. Mr. Yunas has made an important and encouraging contribution to the development of poor countries and the dignity of poor people. An eye opener on schemes for poverty reduction, Government thinking and mentality of funding organisations. As the term “micro” suggests, these loans are very small. Yunus would have made a great candidate for a Nobel in Economics. A true must-read book. This book provides a real-life example of how one man's wish to lift the poorest out of the poverty and that too, not by doing something. I didn’t agree with some of his views on governments not funding public goods, but definitely worth the read and I look forward to reading more on the subject. Muhammad Yunus left his life in America in the 1970s and moved to Bangladesh and set a model of how poverty can be lifted through free market banking initiative called Grameen Bank. Muhammad Yunus has shown us that one person at a time can actually make a difference. More on the book here: Very interesting read especially during my visit to Kenya where I’ve visited a micro finance bank! He previously was a professor of economics and is famous for his successful application of microcredit--the extension of small loans given to entrepreneurs too poor to qualify for traditional bank loans. I wonder why this book is not published in many many languages, by many many publishing houses! As one example, I think that Yunus far too quickly rejects the arguments that poor people living in the developed world would not benefit from micro-lending in the same ways as the poor of Bangladesh. 4,072 Views . Micro-lending means lending loans to extremely poor people so that they can use that credit to rise above the poverty line. But, the difference that small credit can make upon the lives of people is immense. by PublicAffairs, Banker to the Poor: Micro-Lending and the Battle Against World Poverty. His dream is the total eradication of poverty from the world. Charity appeases our consciences.”, “People.. were poor not because they were stupid or lazy. The premise of this book seemed too good to be true. And, despite a 90%+ return from the poor, they don’t lend to the poor without the collateral. Read honest and unbiased product reviews from our users. They worked all day long, doing complex physical tasks. Yet, despite this, Muhammad Yunus is not a socialist. There is something so fresh and inspiring about how he stumbled into giving micro loans. In 1983, the credit program is formed to provide small loans to the poor. Banks lend to the rich big amount who default on most payments. It also analyzes reviews to verify trustworthiness. What if we really can, starting right now, eliminate poverty - worldwide. This is a book is of hope. It's the story of overcoming skepticism in many governments and in traditional economic thinking. This guy is basically a robot. Banker to the Poor is also the story of how Bangladesh's terrible 1974 famine underlined the need to enable its victims to grow more food. Refresh and try again. October 16th 2003 Hats off to Muhammad Yunus, messiah for the under priveleged. Very interesting read especially during my visit to Kenya where Ive visited a micro finance bank! The book being over 12 years old made it a little dated (I wonder how Grameen has developed since? I enjoyed every chapter. This book will stay in memory for quite some time. How often does it happen that a person has an epiphany, a… Everyone should read this book. While building my schedule for next year, my goal was to take as few economics courses as possible. The book describes Yunus' early life, moving into his college years, and into his years as a professor at Chittagong University. Finally, also read Banker to the Poor. The definitive site for Reviews, Trailers, Showtimes, and Tickets Muhammad Yunus: Banker to the Poor, Aurum Press London 1998, ISBN 1-85410-577-9. Dr. Yunus is one of the founding members of, “When we want to help the poor, we usually offer them charity. But he is also aware that the success of his experiments have been aided by his being elite. The premise of this book seemed too good to be true. Reviewed in the United States on November 3, 2017. Reviewed in the United States on February 3, 2009. ‘Banker To The Poor’ is the story of Grameen Bank; written by its founder, Muhammad Yunus. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. In a year like this (2020) we´ve had a perfect example of why social businesses are vital for our society and our future. Full Review (618 words). In it he traces the intellectual and spiritual journey that led him to fundamentally rethink the economic relationship between rich and poor, and the challenges he and his colleagues faced in founding Grameen. Interesting! To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. Unlike the theoretical university researchers who dominate the list today, Yunus’s defining traits are a supremely practical and field oriented. While it offers a biased look at global development. You can still see all customer reviews for the product. Really interesting book overall. Although some criticisms are mentioned briefly, Yunus brushes them off quickly. Muhammad Yunus is one inspiring man finding creative, community-based solutions to poverty and inspiring countless others across the world with his grand dreams and practical enterprise. . His story is thrilling, even inspiring. But, the success of Grameen shows that while these objections are logical, they are exaggerated. ABBYY GZ download. A book like this should be read by everyone. I found it really inspiring and engaging. Grameen Bank, based on the belief that credit is a basic human right, not the privilege of a fortunate few, now provides over 2.5 billion dollars of micro-loans to more than two million families in rural Bangladesh. This page works best with JavaScript. Read Banker to the Poor book reviews & author details and more at … This book provides a real-life example of how one man's wish to lift the poorest out of the poverty and that too, not by doing something for them but rather making it possible for them to do something for themselves, can change lives of so many people. I believe, they should put this in school curriculum so as to teach kids about - social-conciousness as a motivational force. He believes that poverty is not created by poor but it results from the social structure and negligence and shows faith that a poverty-free world is achievable. Banker to the Poor chronicles Yunus' journey from a “bird's-eye-view economist, teaching elegant theories in a classroom, to a worm's-eye-view practitioner” and the creation of Grameen, a bank owned by its poor borrowers that boasts a loan recovery rate of 97.29%. Highly recommended! He has expanded it to serve millions of people and give out billions of dollars in loans. Definitely recommend! If most of us were asked to name the person most famous for helping the poor people of the Indian subcontinent, we would probably reply Mahatma Gandhi; but if you walked into many a village in Bangladesh today and asked the same question, the answer would be Muhammed Yunus, founder of the Grameen Bank...continued. Interesting! They do not have collateral as security. New York: Public Affairs, 2003. So, focusing on "poor" is not. 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