Banker to the Poor

YunusSpeaking

Mohammed Yunus

A worthy tale of how an ordinary exchange student and college lecturer helped hundreds out of the most wretched poverty though developing the idea of micro-loans.

He began by loaning a woman making baskets enough money to purchase materials to make more. This freed her from the high interest extracted by local moneylenders and enabled her to raise her own family and work at the same time.

Later on, when disaster struck the country in 1974, he resigned his teaching position at the university and opened the Grameen bank, working to restore the country and help the poor. Well-written if you don’t mind some of the economic explanations in the latter part of the book.

Banker to the Poor

The system affected not only his native Bengladesh, but spread to other impoverished countries, impacting thousands of people, improving the lives of women in particular. Yunus  won the  Nobel prize in 2006.

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