Muhammad Yunus
https://www.youtube.com/watch?v=6UCuWxWiMaQ
last night i was looking to hear what happened to a bangladeshi NLP and now forgotten. i heard he revolutionized banking. when he opened his grameen bank in usa i heard many mba graduates just joined him after his lecture in NY, in hundreds. i was curious to know what he did. next two hours i listened to him.
muhammad yunus
he said business is all about making money. the current system is that you cannot make money unless you have money. as a result poor always remains poor. he or she in his or her level cannot get advance money for a day to run business for the day. despite the fact that he or she is alive and there is no reason for her to disappear.
here yunus makes a distinction. she is more reliable than he. she is already doing unpaid daily work for her family. then he says something more interesting. beggar is an entrepreneur.
a beggar is earning his or her living and hawking all day. a beggar can be a seller of goods too. without any telecommunication a beggar can be order taker and order supplier while begging for those household who do not have any person to do this. just fund the beggar on daily basis to become an entrepreneur.
this is all about microfinancing. banks are for already rich. banks are needed for poor who cannot provide any collateral. banks should exist to help an unemployed educated to become an entrepreneur and not seek employment!
he then goes little further and says, poverty alleviation is social cause. there must be social bank. social banks do not become partner for the business. social bank does not monitor you or guide you. social bank provides you money and limited by its receiving the money back with limited interest or profit. you remain the business owner. then he sites social cause. electricity water light food milk medicine.equipments .. in the microlevel that is an individual's need. swing machine, plastic chair, cycle, rickshaw, solar lamp, solar electricity, schooling, training, farming seed, manure, water supply..... social banks provide money for social ventures. social banks limits itself to finance only. social banks must have built in resilience to lose money on social cause. social banks are owned by those who are borrowers themselves.
here is a recent talk at google: https://www.youtube.com/watch?v=6UCuWxWiMaQ
https://en.wikipedia.org/wiki/Muhammad_Yunus
last night i was looking to hear what happened to a bangladeshi NLP and now forgotten. i heard he revolutionized banking. when he opened his grameen bank in usa i heard many mba graduates just joined him after his lecture in NY, in hundreds. i was curious to know what he did. next two hours i listened to him.
muhammad yunus
he said business is all about making money. the current system is that you cannot make money unless you have money. as a result poor always remains poor. he or she in his or her level cannot get advance money for a day to run business for the day. despite the fact that he or she is alive and there is no reason for her to disappear.
here yunus makes a distinction. she is more reliable than he. she is already doing unpaid daily work for her family. then he says something more interesting. beggar is an entrepreneur.
a beggar is earning his or her living and hawking all day. a beggar can be a seller of goods too. without any telecommunication a beggar can be order taker and order supplier while begging for those household who do not have any person to do this. just fund the beggar on daily basis to become an entrepreneur.
this is all about microfinancing. banks are for already rich. banks are needed for poor who cannot provide any collateral. banks should exist to help an unemployed educated to become an entrepreneur and not seek employment!
he then goes little further and says, poverty alleviation is social cause. there must be social bank. social banks do not become partner for the business. social bank does not monitor you or guide you. social bank provides you money and limited by its receiving the money back with limited interest or profit. you remain the business owner. then he sites social cause. electricity water light food milk medicine.equipments .. in the microlevel that is an individual's need. swing machine, plastic chair, cycle, rickshaw, solar lamp, solar electricity, schooling, training, farming seed, manure, water supply..... social banks provide money for social ventures. social banks limits itself to finance only. social banks must have built in resilience to lose money on social cause. social banks are owned by those who are borrowers themselves.
here is a recent talk at google: https://www.youtube.com/watch?v=6UCuWxWiMaQ
https://en.wikipedia.org/wiki/Muhammad_Yunus
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