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Grameen Bank

Grameen Bank
Native name
Grameen Bank
Company typeStatutory public authority[1]
IndustryBank
FoundedOctober 1983 (1983-10)
FounderMuhammad Yunus
HeadquartersDhaka, Bangladesh
Number of locations
2,568 branches (2022)[2]
Area served
Bangladesh
Key people
Abdul Hannan Chowdhury[3] (Chairman)
Nur Mohammad[4] (Managing Director)
ProductsMicrofinance
Banking services
Consumer Banking
Investment Banking
৳2360.49 million[2] (2022)
AUM৳169.251 billion (members), ৳74.94 billion (non-members)[2]
Total assets৳301.05 billion[2] (2022)
Total equity৳26.920 billion[2] (2022)
Number of employees
18,203[2] (2022)
Websitegrameenbank.org.bd

Grameen Bank (Bengali: গ্রামীণ ব্যাংক) is a microfinance specialized community development bank founded in Bangladesh.[5][6] It provides small loans (known as microcredit or "grameencredit")[7] to the impoverished without requiring collateral.

Grameen Bank is a statutory public authority. It is originated in 1976, in the work of Muhammad Yunus, a professor at the University of Chittagong, who launched a research project to study how to design a credit delivery system to provide banking services to the rural poor. In October 1983 the Grameen Bank was authorized by national legislation to operate as an independent bank.

The bank grew significantly between 2003 and 2007. As of January 2022, the total borrowers of the bank number nearly 9.5 million, and 96.81% of those are women.[8] In 1998 the Bank's "Low-cost Housing Program" won a World Habitat Award. In 2006, the bank and its founder, Muhammad Yunus, were jointly awarded the Nobel Peace Prize.[9]

The bank's success has inspired similar projects in more than 64 countries around the world, including a World Bank initiative to finance Grameen-type lending systems.[10]

  1. ^ "Grameen Bank Act 2013". Grameen Bank Act 2013. Archived from the original on 1 February 2024. Retrieved 30 December 2013.{{cite news}}: CS1 maint: bot: original URL status unknown (link)
  2. ^ a b c d e f "Annual Report 2022" (PDF). Grameen Bank.
  3. ^ "Professor Abdul Hannan made Grameen Bank chairman". The Business Standard. 3 September 2024.
  4. ^ "Nur Mohammad new MD of Grameen Bank". The Business Standard. 9 January 2024.
  5. ^ Cosic, Miriam (29 March 2017). "'We are all entrepreneurs': Muhammad Yunus on changing the world, one microloan at a time". The Guardian. Archived from the original on 26 June 2024. Retrieved 9 August 2017.
  6. ^ "About us". Grameem Bank. 2 March 2015. Retrieved 9 August 2017.
  7. ^ Cite error: The named reference What is Microcredit was invoked but never defined (see the help page).
  8. ^ Annual Report 2021
  9. ^ "The Nobel Peace Prize for 2006". The Nobel Peace Prize for 2006. 13 October 2006. Retrieved 13 October 2006.
  10. ^ Khandker, Shahidur R.; Baqui, M. A.; Khan Z. H. (1995). Grameen Bank: Performance and Sustainability. World Bank Publications. p. vi. ISBN 978-0-8213-3463-8.

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