Grameen bank
The Grameen Bank is one kinds of bank which works for the
welfare of the poor, the landless and the helpless. Dr. Mohammad Yunus is the
founder and Managing Director of the Grameen Bank. The main target of the bank
is to alleviate poverty from the country. It opens its branches in the rural
areas where the rootless people live. The bank lends money to the poor for
productive activities. The system of lending money of this bank is so flexible
that one can repay the money from their profit. The villagers have to follow
some rules and regulations. They have to make 5-6 groups of workers, each
having five members. Then they set up a centre where the bank gives loans and
repayment of loans. Each member of the groups is given a registered number. The
members conduct their business with the bank through the chairperson. This bank
has gained popularity to the foreign land too. Many countries of the world have
accepted the model of Grameen Bank.
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