I wasn't surprised at all when I read the news that Mohamed Yunus of Bangladesh won the Nobel Peace prize . In fact I was so happy because this man deserves more for making the lives of poor in his country a better ones with his great idea of Garmeen Bank for the needed .
I knew Yunus from some time even before the Nobel Peace prize, I know from a documentary program that is aired on Discovery Civilization Arabia called Crossing
They showed his life from the beginning to the recent time of course with Garmeen bank for focus.
I love Macroeconomics and that's why I respected this man so much and what he did to the people of his country.
When your country is suffering from a sever poverty like Bangladesh ,you must find a clever way to help your people without hurting their feelings
Yunus used the old Chinese wisdom saying :
Give the man a fish and he will eat for a day , Give him a fishing rod and he will eat forever
It is the same principal used in Garmeen Bank giving the people who are really a desperate need for money to start their very small projects just like handmade baskets
I believe one of the good thing Garmeen Bank made and it was one of the reasons of its success that it doesn't humiliate the poor ,on the contrary it helps them to have a better standard of living without asking or begging
Do you know that they want to emulate Garmeen Bank here in Egypt ??
Yes Ex-Egyptian Prime Minister Abd El-Aziz Hegazy is trying to make "The Poor Bank" in our Country , great idea ,but I hate the name "The Poor Bank " you should help the people without hurting their feelings :(
Indeed a fundamental change of scopes from the nobel prize institute. Just a small addition dear Z, this kind of economical activity called Micro Finance, and thanks god that we don't have this in egypt coz we'd turn it to a mess..we'd better wait for a while before thinking of implementing this kind of micro financing activity, at least until we cure our ancient disease...LYING!
ReplyDelete@ Yellow Egyptain about the term I believe what Yunus did helped his country more on the Macro level , yes The Garmeen bank works in the Micro finance level
ReplyDeletebut the overall results are huge
about Egypt , well I can't agree more
Garmeen Bank is also working in many countries. And it's formula has been a success.
ReplyDeleteWhat is the oil rich Royal Kingdoms in the middle east say about Garmeen bank. Waht Saudi,Kuwait, Amirat,Dubai etc.
ReplyDeleteHow are the MUSLIM OIL RICH ROYAL KINGDOM in the Middle Ease REACHT to the Noble prize winner M.Yunus in establishing GARMEEN bank ?????
ReplyDelete