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The Poor Always Pay Back: The Grameen II Story Paperback – November 14, 2006


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The Poor Always Pay Back: The Grameen II Story + Banker To The Poor: Micro-Lending and the Battle Against World Poverty + Creating a World Without Poverty: Social Business and the Future of Capitalism
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Product Details

  • Paperback: 291 pages
  • Publisher: Kumarian Press (November 14, 2006)
  • Language: English
  • ISBN-10: 1565492315
  • ISBN-13: 978-1565492318
  • Product Dimensions: 8.9 x 5.9 x 0.7 inches
  • Shipping Weight: 14.4 ounces (View shipping rates and policies)
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Best Sellers Rank: #227,168 in Books (See Top 100 in Books)

Editorial Reviews

Review

This accessible work provides considerable detail about how the bank evolved and why. Highly recommended. --Choice

Western society characterizes the poor as 'dirty,' 'dishonest,' 'lazy,' and 'incapable of planning.' [This] book provides us with overwhelming, concrete evidence to the contrary. --Journal of International Development

About the Author

Dipal Barua is the Deputy Managing Director of Grameen Bank and the Managing Director of the Grameen Shakti in Bangladesh. He has extensive experience in the field of poverty alleviation, microcredit, rural development and people s participation as a result of being a core founder of Grameen Bank. He serves on the board of directors of 16 sister organizations of Grameen Bank including Grameen Phone, the largest cell phone company in South East Asia, and Project Enterprise, a micro lending program in New York.

Asif Dowla is a professor of economics at St. Mary's College of Maryland. He has published various articles on economics and aspects of microfinance such as leasing, savings mobilization and social capital. In 1997, he received a fellowship to spend a year on sabbatical at Grameen Bank.

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21 of 22 people found the following review helpful By KCrawford on July 8, 2007
Format: Paperback
No two people hold a more appropriate position to write about Grameen Bank than Asif Dowla and Dipal Barua. As former students of 2006 Nobel Peace Prize Winner and Grameen Bank founder Muhammad Yunus, Dowla and Barua have been apprised of the logic behind small loans since the Bank's inception. They have Yunus's trust and approval when it comes to sharing Grameen with the world, which readers can see in his found appraisal of Dowla and Barua in the preface.

"The Poor Always Pay Back: The Grameen II story" is a comprehensive account of the overhaul of the world's premier micro credit institution and it is suitable for novice students of economics, masters of the field, and everyone in between who may be curious about microcredit. The central tenet of the text is that the poor are bankable--despite the fact that they lack liquid capital, they can be trusted to repay loans and to use money in an enterprising fashion if given a fair opportunity and clear terms.

The book begins with a review of Classical Grameen and its effects on the poor in Bangladesh, focusing on the Bank's structure and clearly explaining the terms of micro loans (such as the "Sixteen Decisions" which are both described and illustrated). However, the majority of this work, as its title suggests, is devoted to explication and analysis of the advanced terms and products of Grameen II. Claims and conclusions are well supported with both quantitative and qualitative evidence, to which the two authors have prime access through their ties to the Bank, granting a great deal of authority to the book. Tables and appendices are nicely tied in with the text, and citations allow readers to conduct their own research on individual aspects of Grameen and microcredit if they so desire.

"The Poor Always Pay Back: The Grameen II story" is a good way to begin study of the growing institution of microcredit and the assumption that there is financial potential among the poorest of the poor.
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12 of 13 people found the following review helpful By Loyd E. Eskildson HALL OF FAME on February 8, 2009
Format: Paperback
"The Poor Always Pay Back" tells how Grameen Bank in Bangladesh modified its loan programs after the great flood of 1998 to better accommodate customers and the reality of dealing with catastrophes. Repayment rates had dipped to 80%, down from the 97% prior. En route, readers learn of the impressive repayment record of its poor customers, despite their lacking ready collateral and the lack of a credible threats by the banking system.

The Grameen Bank model is currently replicated in more than 100 countries. Those interested in the details of how this works are well served by reading both this book and its predecessor, "Creating a world Without Poverty."

A major reason for the prior failure of credit cooperatives in Bangladesh was that the groups were too large and included people with varied economic backgrounds. Thus, Grameen Bank evolved to a group size of 5, with a maximum amount of land ownership to be eligible for membership. Another limitation was one member per household to prevent a particular family from exerting undue influence. Initially, loans were given to the two neediest members; depending on their performance, two more received loans, and generally the elected chairperson was last.

Income generation and housing, rather than consumption, were allowed purposes. Borrowers were required to save a fixed amount weekly plus 5% from the loan. This created a group fund that paid 8.5% interest. The group fund could be used for multiple purposes (eg. paying school tuition, buying food in lean times). In cases of disaster, the entire amount could be used - normally it was limited to less than half. Borrowers paid only a 5% group tax.

Each borrower must buy one share of the bank (100 taca - $1.47 currently).
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By james on June 7, 2014
Format: Paperback Verified Purchase
arrived on time and was in good shape. was used for a college class by my daughter so I can not comment on the content.
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