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Grameen Bank

Grameen Bank
Native name
Grameen Bank
Company typeA Statutory Public Authority)[1]
IndustryBanking
FoundedOctober 1983 (1983-10)
FounderMuhammad Yunus
HeadquartersDhaka, Bangladesh
Number of locations
2,568 branches (2022)[2]
Area served
Bangladesh
Key people
AKM Saiful Majid (Chairman of the Board) Nur Mohammad (Managing Director)[3]
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.[4][5] It makes small loans (known as microcredit or "grameencredit")[6] to the impoverished without requiring collateral.

Grameen Bank is jointly operated by its borrower members and the government. It is originated in 1976, in the work of Professor Muhammad Yunus at 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.[7] 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.[8]

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 schemes.[9]

  1. ^ "Grameen Bank Act 2013". Grameen Bank Act 2013. Retrieved 30 December 2013.
  2. ^ a b c d e f "Annual Report 2022" (PDF). Grameen Bank.
  3. ^ "Nur Mohammad made MD of Grameen Bank". tbsnews.
  4. ^ Cosic, Miriam (29 March 2017). "'We are all entrepreneurs': Muhammad Yunus on changing the world, one microloan at a time". The Guardian. Retrieved 9 August 2017.
  5. ^ "About us". Grameem Bank. Retrieved 9 August 2017.
  6. ^ Cite error: The named reference What is Microcredit was invoked but never defined (see the help page).
  7. ^ https://grameenbank.org/public/assets/archive/annual_report/Annual_Report_2021.pdf Annual Report 2021]
  8. ^ "The Nobel Peace Prize for 2006". The Nobel Peace Prize for 2006. 13 October 2006. Retrieved 13 October 2006.
  9. ^ 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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