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Banker To The Poor: Micro-Lending and the Battle Against World Poverty Paperback – January 8, 2008
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"An interesting story of beginning and hope...I would recommend this book to anyone interested in the problem of poverty..." -- Gracious Rants, May 24, 2007
"lays out a convincing argument fro the need to nourish and better understand the `people's economy'...A hopeful and inspiring read" -- Vision Magazine, January 2007
About the Author
Top Customer Reviews
In the 30 years since Professor Yunus's first loan of 27 dollars, Grameen has now lent out billions to millions. It has liberated women in small villages, it has brought capitalist market mechanisms to the economic bottom 2% of the world population.
This first hand account by the American-educated Bangledeshi founder of Grameen Bank might not win any literary prize and it might end with a (I think) slightly naive vision of social work, but it effectively presents a simple story about a practical man who has made millions of the world's poorest people significantly better off.
A precocious child and avid reader-especially of comicbooks-Yunus was one of fourteen children born to devout Muslim parents. The family lived on the second floor located above the jewelry store that his father owned and operated in Chittagong, the largest port-city in Bangladesh. His mother, despite her later mental illness, instilled a sense of charity early on in her son that would last a lifetime. While the seeds of the Grameen Bank were planted when Yunus was a child, they were certainly nurtured while studying under the tutelage of professor Nicholas Georgescu-Roegen in America. Yunus left to attend Vanderbilt University as a Fulbright scholar in 1965 after opening a successful packaging business in Bangladesh.Read more ›
As he tried to alleviate the broad and deep poverty in his homeland, Yunus came to "dread" his economics lectures. They were tragically far removed from the everyday lives of normal people. In a theme that would characterize much of the rest of his life, Yunus almost completely abandoned classical book learning in favor of listening to and learning directly from the extreme poor -- the millions of Bangladeshis living off two cents a day. In 1976 he loaned $27 to 42 villagers, and thus was born what eventually became the Grameen Bank (grameen means rural). As of the publication of this revised autobiography in 2003, Grameen and its many replicants had made $3.8 billion of micro-loans to 2.4 million families in over 100 countries. The borrowers themselves own 93% of the bank equity, 95% of the loan recipients are women, and the repayment rate on the loans is 98%. For all that, in 2006 Yunus and Grameen won the Nobel Peace Prize (not to mention more than two dozen honorary doctorates).
Yunus is an excellent writer and story-teller.Read more ›
Most Recent Customer Reviews
Banker to the poor starts off as a young Muhammad Yunus describes his childhood. He tells of the times he spend with his mother while she was healthy and how she instilled quality... Read morePublished 2 months ago by Isreal
I am a University of Baltimore student enrolled in the survey Entrepreneurship course and this was a recommended reading. Read morePublished 2 months ago by Hardcore Gamer
Bought this book for a class I took over the summer. Good read!Published 2 months ago by Michael D.
Great book and great story. If you are interested in the orgins of micro-finance this is a must read.Published 4 months ago by Jeff M.
excellent book, proves mainstream banks are wrong in their assumption you cannot help poor people who at first glance seem unable to repay their loan. Read morePublished 5 months ago by Margaret Swift
A very interesting read on the background and development of micro finance in the world, showing how micro finance has become a major player in the worldwide banking industry and... Read morePublished 8 months ago by Chad H.