The System is Changing

25 01 2012

The Grameen or Village Bank  is Transforming The World – Really!

Grameen Bank clients - 97% are female

The financial system of the world is being transformed and changed for the greater good by a kind, intelligent, wise man – and a Muslim into the bargain. Here’s a few short short quotes from his address. The full address can be heard and viewed in the embedded video below. Thanks to my friend Mary in Sydney for sending me a link to one of the best things I have ever seen. True. An address to the London School of Economics by Professor Muhammad Yunus talking about how he set up the Grameen (Village) Bank. The Grameen or Village Bank  is Transforming The World – Really!

The way I did it . . .I can only describe it this way: Whenever I needed a procedure of banking – of what I have to do now . . .I just looked at the conventional banks – they are everywhere so it’s easy to find out – (and I would ask) what would they do in that case? Once I learned what they do . . .I would just do the opposite. And it worked. It never failed me. Everything you hear about the Grameen Bank is nothing but doing the opposite. They go to the rich . . I went to the poor. They work in the city centre . . .I decided to go to the village – the remote village. They go to men . . .I went to women. They want collateral . . .I said no collateral – forget it! They want big lawyers to tie you up, so that you cannot run away from them . . .we said no lawyers! Grameen Bank is probably the only bank in the world which doesn’t have any lawyers. It makes life so much easier. Because the only thing you have is trust, and amazingly trust works! – Muhammad Yunus

I had no banking background, I didn’t know anything about banking. But I bumped into it and I did something which later on they say . . .it is banking! I had no idea that that’s what I was doing. But in hindsight I think the best thing I had was that I didn’t know about banking. That was the best thing! Because if knew about banking, if I learned about banking . . .I’d go back to their logic. I would follow the same thing they have told to me. (but) Since I was not told, since I didn’t know anything . . .I was a free person. – Muhammad Yunus

I always did very little things. Giving loans to forty two people. That was my start.  . . .and $27 – that was my start! Giving Loans to forty two people. Imagine how small each loan was. We call the whole thing we created micro-credit. Tiny credit . . .and it became big – Global. – Muhammad Younus

But how did I do it without knowing anything? I made it very simple . .I don’t want to go in a very complicated way – I call it worms eye view. Just come as close as possible to the problem. You see things at a very close range . . .see it very clearly. Then you avoid the chance of making mistakes. Sometimes we pride ourselves on having a a bird’s eye view – you see everything, but you see blurred things, hazy things . . .you don’t know what you are seeing, you make up stories, that really didn’t exist. – Muhummad Yunus



3 responses

25 01 2012

Great post, thanks!

27 01 2012
DR Quantum's Blog

Thanks to you Christine. Glad to see you liked this one

27 01 2012
Annie Kane

Thanks Simon.
After watching Professor Yunus my heart feels lighter on my return to the U. S. ( the proverbial “belly”). It is such a relief to hear a wise, pricipled man who speaks with such sanity and humanity. Keep up your good work.
Kind regards,

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