On Thursday I Finished The Publication

I completed the publication on Thursday, and I must say i loved it. In 1976, Muhammed Yunus (Ph.D) was an Economist Professor at Chittagong University in SE Bangladesh. Not from the campus was a village called Jobra significantly. He visited visit one day and asked the villagers how they were surviving.

They said they were not, because the loansharks were not paying them enough to both live on and buy more recycleables. Yunus asked them how much they needed to survive. 7 and so forth. Yunus said they could ask for more if it was wanted by them, but they only ever asked for what they absolutely needed to endure. 27 to several villagers, and in just a matter of months, every villager had paid him back what he or she had been given.

  • Private Car Business
  • The Sony Walkman
  • Capital Losses
  • Be Prepared

In Bangladesh, before micro-credit came along, the poor villagers would need to borrow funds from the loansharks, which put them into vicious cycles, because they could never earn to go on or to buy more recycleables enough. The true way it worked well was such as this. The loansharks are asked by villager for money.

The loansharks would lend the small sum of money, but only with the proviso that the candidate sells the completed items to the loanshark. The loanshark usually paid a pittance to the villager – enough for them to survive hardly, let alone make a profit. The loanshark is free to sell that for whatever he can get then. So Yunus decided to start a “bank” that would loan these small amounts to the villagers. When he visited speak to commercial banks asking for “seed” money to start this notion, they laughed at him. Villagers dont have any security. Villagers will never repay what they borrow. Villagers are too stupid to learn how to proceed.

Villagers dont know how run a business. The banking institutions were discriminating against their own people. Which explains why the poor people (anywhere) can’t ever rise above poverty so long as the banking institutions and authorities bureaucracy KEEP them there. Poverty won’t vanish as long as the discrimination and red-tape continues. Yunus goes onto describe the battles he had with the Bengali government, and the religious leaders.

When he started hiring female employees to work in his banking institutions, he was told that he was performing a bad thing, because women in Islam do not work. Their families would get bad reputations if girls started working. Good Muslim ladies get married and have families. This is the Muslim way.