nbsp; Who is creditworthy? Is it the large banks with large clients? They cannot obtain their money back ... whereas the poor taking tiny loans, without collateral, are paying every penny of it and changing lives,
Big brands are popular; it gets imitated by fake ones. Same thing happens with microcredit. -People have to be made aware of what is microcredit and why it is important to stick to the real microcredit and not the one which has a different motivation.
If you look at the gender composition of all the borrowers of all the banks in Bangladesh, not even 1 of the borrowers happen to be women.
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.
Today, the concept of business is to make money. Making money is the name of the business.
Business money is limitless.
Credit is a business. You don t ask a grocery shop, why they are selling food to people? Do they get healthy; do they get sick from purchasing the products from the shop? This is a service if you need it, you pay for it, you buy...
It is important that people are able to distinguish between social microcredit and commercial microcredit and make sure they don t get drawn into commercial microcredit. We are promoting social microcredit. And commercial microcredit is an abuse of its concept.
hellip;you must focus on women in microcredit. And that s the best and one of the most important things to do. The impact will be tremendous if you enter the families through women.
If you rsquo;re using microcredit the way it should be used, as we are, the profits go back to the borrowers. There rsquo;s no way you can describe that as bloodsucking.