Introducing Grameen
By Kaylee Huang When we think of banks, we often picture big buildings, loans, and customers with steady jobs and savings. But what about people with no collateral, no credit history, and no regular income? This is where Grameen Bank enters. Founded in 1983 by Nobel Laureate Professor Muhammad Yunus, Grameen offers an inclusive financing model through providing collateral-free microloans for people, especially women, in poverty. At the heart of its approach is the “five-member group” model, which relies heavily on developing trust within the community. Specifically for Grameen China, the organization now has over 1,500 members in rural areas … Continue reading Introducing Grameen