×

Uh-oh, it looks like your Internet Explorer is out of date.

For a better shopping experience, please upgrade now.

Banker to the Poor: Micro-Lending and the Battle against World Poverty
     

Banker to the Poor: Micro-Lending and the Battle against World Poverty

4.1 23
by Muhammad Yunus, Alan Jolis, Mohammed Yunus
 

See All Formats & Editions

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. 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. He also provides wise, hopeful guidance

Overview

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. 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. He also provides wise, hopeful guidance for anyone who would like to join him in "putting homelessness and destitution in a museum so that one day our children will visit it and ask how we could have allowed such a terrible thing to go on for so long". The definitive history of micro-credit direct from the man that conceived of it, Banker to the Poor is necessary and inspirational reading for anyone interested in economics, public policy, philanthropy, social history, and business.

Editorial Reviews

Vision Magazine
... Lays out a convincing argument from the need to nourish and better understand the 'people's economy'...A hopeful and inspiring read
Gracious Rants
An interesting story of beginning and hope . . . I would recommend this book to anyone interested in the problem of poverty . . .
KLIATT
Newly appointed economics professor at Chittagong University in Bangladesh, Yunus began to feel frustrated by the abject poverty of his neighbors in contrast to the lofty economic theories he was imparting to his students. Subsequent research in the villages revealed that lack of credit was the poor people's problem. Local moneylenders also working as middlemen kept them from making a fair profit. In utter frustration one day, handing $27 to an assistant to go and make the loans, Yunus determined to do more. Working with his local bank revealed a firmly entrenched lending policy that contributed to the problem. His struggle began. Some years later Grameen Bank was granted a constitution and the legal protection of the Ministry of Finance. Yunus' book begins with a brief description of his childhood and education in Chittagong and relates how he became involved in the liberation of Bangladesh while a professor in the US. His incredible story is told in a simple, straightforward manner; no need to understand complicated economic theory to appreciate this book. It is a story of reaching out and improving the lives of poor people and proof that socially conscious-driven businesses can succeed. Grameen (meaning "rural" or "of the village") has grown to 1,190 branches working in 43,258 villages with 11,806 employees since its founding in 1983. It currently provides the same financial services that "real" banks provide. It is 93% owned by its membership with 95% of its borrowers women. Loan repayment percentage is 98.08% and it has realized a profit in all but three of its years in business. Yunus' plan for micro lending has evolved and spread into other parts of the world, including ruralArkansas under Clinton's governorship, gaining popularity among traditional banking institutions. Subject areas for this book are economics, social affairs, poverty, and women's studies. KLIATT Codes: SA-Recommended for senior high school students, advanced students, and adults. 1999, PublicAffairs, 273p. illus. index., Ages 15 to adult.
— Ann Hart
Library Journal
Bangladesh, a country the size of Florida with a population of over 120 million people, is the home of Grameen Bank, the inspiration of economist Yunus, Bangladesh-born and U.S.-trained. Instead of spending his life as a university economics professor, Yunus decided in the mid-1970s to develop a micro-lending program to help the poorest people of his country. Yunus based the program on his strong belief that the very poor do not need complicated training programs to improve their economic lot. They need money, in the form of loans. This program has empowered thousands of people--many of them women--and surprised experts in economic development who never believed that the very poor would find the initiative and ability to repay even the smallest ($25-$500) loans. Grameen ("of the village") Bank has developed into an internationally acclaimed and replicated method for assisting the impoverished in Malaysia, the Philippines, Nepal, and even the United States. Definitely recommended for larger public and academic libraries.--Olga B. Wise, Compaq Computers, Austin Copyright 1999 Cahners Business Information.

Product Details

ISBN-13:
9781891620119
Publisher:
PublicAffairs
Publication date:
05/14/1999
Pages:
258
Product dimensions:
6.51(w) x 9.67(h) x 1.06(d)
Lexile:
1090L (what's this?)

Meet the Author


Muhammad Yunus was born in 1940 in Chittagong, a seaport in Bangladesh. The third of fourteen children, five of whom died in infancy, he was educated at Dhaka University and was awarded a Fulbright scholarship to study economics at Vanderbilt University. In 1972 he became the head of the economics department at Chittagong University. He is the founder and managing director of the Grameen Bank.

Customer Reviews

Average Review:

Post to your social network

     

Most Helpful Customer Reviews

See all customer reviews

Banker to the Poor 4.1 out of 5 based on 0 ratings. 23 reviews.
Guest More than 1 year ago
Yunus writes in a concise, clear style. Read this book for the concepts and ideas - Yunus provides a wonderful overview of microcredit and its impact on thousands of the world's poorest women. Inspiring introduction to microcredit and to this modern economic genius who refused to take no for an answer.
Guest More than 1 year ago
In 1974, while Muhammad Yunus was teaching economics in Bangladesh, the country was ravaged by famine. Increasingly uncomfortable teaching abstract theories while starving people shuffled by outside his classroom, Yunus realized his economic education was incomplete. To complete it, he went to local villages to 'learn from the poor' about what they actually needed rather than what a textbook said they should have. The answer was credit, so Yunus founded a bank to provide it - Grameen Bank. The name means the 'bank of the village.' Today, Yunus is a Nobel Peace Price winner and Grameen Bank has extended credit to more than 2.6 million people. This down-to-earth, unsentimental autobiography recounts what inspired him, the obstacles he overcame and the ultimate success of this project, his life's work. We highly recommend it to anyone who wants to know how one person's efforts can have a huge impact.
Guest More than 1 year ago
This book eloquently describes the political and economic systems that keep the poor impoverished ¿ and it describes the problems encountered in solving the problem. Muhammad Yunus is an inspirational, compassionate, intelligent role model who has lived and `walked his talk¿ in every way. I think this book should be compulsory reading for every senior school student born into a privileged, first world country. The fourteen-year old who whines for more pocket money would do well to understand and respect how it is for those born less fortunate - and we may benefit from their increased social awareness.
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Banker to the Poor is Mohammed Yunus' chronicle on how the birth of microfinance took place. This is is a very light read, but it's quirky and very informational!
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
AjayHiraskar More than 1 year ago
There are many people who conceptualise & write theories about the problems faced by the world. But there are very few academics who actually can claim to have done somthing about it. This is truly an inspiring story of the founder of Grameen Bank, his tough childhood, evolution thru his education in East Pakistan & in the US and finally return to his roots when a fledgling new country was founded, namely Bangladesh. The description on the start of a new concept & the efforts put in by Muhammad to create a micro-credit organisation are a testimony of the fact that almost anything can be achieved if you set your mind to it. The amazing success of this concept & the Grameen imitators which have started up across the world make for very interesting reading too. Hat's off to someone who could achieve so much in his own lifetime.
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Guest More than 1 year ago
With a rare sense of moral indignation coupled with analytical clarity, Prof. Yunus of Bangladesh set out to eradicate worldwide poverty. That was back in 1976. Starting out with a personal mini-loan of $27 to 42 impoverished villagers, his Grameen('of the village') Bank has now extended over a billion dollars of loans to 2 million borrowers, and with a repayment rate of over 98%! This stunning record has stood traditional development economists on their heads. Even more provocative, Yunus believes in the promotion of a 'socially-conscious driven private sector.' A short review of Banker to the Poor can hardly do justice to this stimulating and well-wriiten book. (Some of his pithy anecdotes & scathing crtiques of mainstream capitalist economics alone are well worth the book's list price of $24.) If the long march of ten thousand li begins with the first step, then reading this motivational life story must be happy trails for those pioneers aspiring to a new collective economy of the 21st century.