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Grameen Bank (Bengali: গ্রামীণ ব্যাংক) is a microfinance, specialized community development bank founded in Bangladesh. [ 5 ] [ 6 ] It provides small loans (known as microcredit or "grameencredit") [ 7 ] to the impoverished without requiring collateral .
The Social Success Note is an outcome-based financing mechanism in which a commercial bank is incentivized to lend to social businesses by a donor, who provides a grant to the commercial bank representing market returns (in addition to the social business' loan repayments) when the social business meets predefined objectives. [24]
Grameen Bank reports that repayment success rates are between 95 and 98 percent. [1] The first economist who had invented the idea of microloans was Jonathan Swift in the 1720s. Microcredit is part of microfinance , which provides a wider range of financial services, especially savings accounts, to the poor.
Grameen Trust (GT), a non-profit and non-government organization established in 1989 uses microcredit as a tool for fighting poverty and follows the Grameen Bank approach for the purpose. It supports and promotes poverty focused microcredit programs all over the world under its Grameen Bank Replication Program (GBRP) through a number of ways ...
Grameen CyberNet Limited is an internet content, solution and service provider in Gulshan, Dhaka, Bangladesh founded in July 1996 by Dr. Muhammad Yunus and Golam Mohiuddin, an entrepreneur promoting Apple Inc. in Bangladesh, as a joint venture between Grameen Fund, the venture capital arm of Grameen Bank, and CITech Limited, Mohiuddin's enterprise.
Social entrepreneurs in this situation were forced to become for-profit ventures, because loans and equity financing are hard to get for social businesses. [53] There are also a broader range of hybrid profit models, where a conventional business invests some portion of its profits on socially, culturally or environmentally beneficial activities.
Mohammad Shahjahan Bangladeshi is a former managing director and CEO of Grameen Bank. [1] [2] [3] He assumed the office on 14 August 2011 until he retired on 30 October 2014. [4] He gained his Bachelor of Commerce degree in accounting from University of Dhaka in 1976. He completed his master's degree in accounting and finance from the same ...
Quarterly Profit based Savings - This scheme is also known as Tin Mash ontor munafa vittik sanchaypatra that requires minimum investment of Tk 1,00,000/- and has a maturity period of 3 years. The maximum investment is limited to Tk 30,00,000/- for a single owner and Tk 60,00,000/- for a joint owner.