Banker to the Poor

Banker to the Poor: The Autobiography of Muhammad Yunus, Founder of Grameen Bank by Muhammad Yunus and Alan Jolis, Bangladesh: PublicAffairs, 1999 ISBN:1-58648-198-3

I actually read the italian version of this: Il Banchiere dei Poveri, Feltrinelli (2013). ISBN: 978-8807883385 (ISBN-10: 8807883384).

This is the story of peace Nobel laureate Muhammad Yunus. Microcredit is now known, but it is very interesting how Yunus realized already in 1977 when he founded the Grameen Bank, how much the people themselves could think solutions to their own problems, and one of the biggest hurdles was to get (a very small) capital at acceptable conditions to realize them. To avoid scammers the solution has been to rely on social structures: a group of people all wanting credit joins together, and the one with more power are the last to get the credit. Return is done in small amounts given often. The bank has a very different form than the normal ones, and a strong sense of social duty, which make it work. On the whole a book that makes one think, and is inspiring.

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