Are you sure the poor will repay? the governor asked. Yes, they will. They do. Unlike the rich, the poor can rsquo;t risk not repaying. This is the only chance they have.
hellip;no one, he says, suggests microcredit is killing poor people and should, therefore, be stopped. The question worth asking is how to improve it. It rsquo;s like banking. Should banking be shut down because it created the financial crisis? No. Similarly, shouldn rsquo;t banking...
The criticism is that it might not be helping the poor people as much as is claimed. Either way, if it is not as much, it is doing something. But that s one idea. My starting point was that banking is not extended to the poor people at...
Whether you have solved the problem of this or the problem of that is not the issue to address. It should be an inclusive banking system. And what a wonderful thing it is, when you get the money to transform your whole life. We see it every day,...
The one great lesson learned from Grameen America is that even in the industrially developed world, there is a class of people that the traditional banking system has left behind. So from this we can extrapolate that microfinance can have a place even in the richest countries in...
It s still real fun, he says. Social business, no matter what you say or do, must be a matter of joy. That s the fantastic thing about it. You can t beat this, even by making tons of money.
There are two kinds of businesses One is business to make money, the other business is to change the world. This one is with the intention of changing the world and not to have any personal gain from that. It is all dedicated to make a difference....
It is possible to come up with creative ideas to create businesses to solve the problems. In that business, you should delink yourself from making personal profit.
nbsp;Today, if you look at financial systems around the globe, more than half the population of the world - out of six billion people, more than three billion - do not qualify to take out a loan from a bank. This is a shame.
Poverty is not created by the poor people. It is imposed on the poor people by the system that we created. Sometimes I give the analogy of a bonsai tree hellip;. Poor people are bonsai people. There is nothing wrong with the seed. Society simply never gave them...
