After 30 years of dictatorship & nepotism MALDIVES MEDIA FREE (1978 -2009)

ADAM RASHEED AHMED Do you know who is ARUVAALI AADHANU must be a really a bad guy. No worries good or bad ARUVAALI means banished AADHANU means ADAM. I was banished as POLITICAL PRISONER twice during 30 years of DICTATORSHIP & NEPOTISM from 1978 to 2009

Tuesday, August 4, 2009

Grameen Bank Method of Action


The Norwegian Nobel Committee has announced the Nobel Peace Prize for 2006, divided into two equal parts, to Dr. Muhammad Yunus & Grameen Bank.
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The Grameen Bank's Method of action can be illustrated by the following principles:

1. Start with the problem rather than the solution: a credit system must be based on a survey of the social background rather than on a pre-established banking technique.

2. Adopt a progressive attitude: development is a long-term process which depends on the aspirations and committment of the economic operators.

3. Make sure that the credit system serves the poor, and not vice-versa: credit officers visit the villages, enabling them to get to know the borrowers.

4. Establish priorities for action vis-a-vis to the the target population: serve the most poverty-stricken people needing investment resources, who have no access to credit.

5. At the begining, restrict credit to income-generating production operations, freely selected by the borrower. Make it possible for the borrower to be able to repay the loan.

6. Lean on solidarity groups: small informal groups consisting of co-opted members coming from the same background and trusting each other.

7. Associate savings with credit without it being necessarily a prerequisite.

8. Combine close monitoring of borrowers with procedures which are simple and standardised as possible.

9. Do everything possible to ensure the system's financial balance.

10. Invest in human resources: training leaders will provide them with real development ethics based on rigour, creativity, understanding and respect for the rural environment.

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