Grameen Bank, founded in 2006 by Nobel Laureate Professor Muhammad Yunus, is a leading microfinance bank in Bangladesh that provides access to financial services to the unbanked and underbanked population in the country. Its mission is to make reasonable and low-cost credit available to the poor, particularly women and other disadvantaged groups, and to encourage entrepreneurship.
Grameen Bank provides a wide range of financial services, such as small business loans, savings accounts, insurance policies, and educational and healthcare services. It also provides access to capital markets to help its customers build financial resilience.
Grameen Bank has revolutionized traditional banking practices and ushered in a new era of financial inclusion. It has achieved worldwide recognition for its innovative approach to poverty alleviation through small loans, or micro-credit, to small entrepreneurs. By providing small loans to people who lack access to traditional bank financing, Grameen Bank has enabled these marginalized individuals to become self-employed, earn sustainable livelihoods, and change the trajectory of their lives.
Grameen Bank has also successfully piloted several financial products and services that have been adopted by other microfinance institutions. This includes the introduction of collateral-free loans and group lending. Grameen Bank is also one of the pioneers of mobile banking, which has revolutionized access to financial services in Bangladesh.
Grameen Bank is deeply committed to serving its customers with dignity, transparency and respect. It is an inspirational example of how access to financial services can make a difference in the lives of millions of people, particularly women. Its innovative approach to banking has shown that financial inclusion is an effective approach to poverty reduction and economic development.
