Quote 186: Professor Muhammad Yunus, Credit, Quotes
In structuring our credit program, I decided to do exactly the opposite of traditional banks. To overcome the psychological barrier of parting with large sums, I decided to institute a daily payment program. I made the loan payments so small that borrowers would barely miss the money. And for ease in accounting, I decided to ask that the loans be paid back fully in one year. Thus, a 365 taka loan could be paid at the rate of 1 taka a day over the course of one year.
