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Agriculture Contributes To A Paltry 2.6% Of The Country’s Economy History Assignment Help And Resources


The concept of Grameen Bank birthed in 1974 help with history assignment: help with history assignment

The concept of Grameen Bank was birthed in 1974 by Muhammad Yunus when he  availed US$27 to small families in Bangladesh as start up capital. By 1976, the project which was supported by Bangladesh Bank had become a sucesss and was extended to other areas outside the capital (Esty, 2011).The project was authorized as an independent bank in 1983. Grameen Bank is founded on the concept of a village bank whereby individuals receive microcredit facilities without the need of collateral. By the year 2005, the bank had loaned over US$4.7 billion  and towards the end of 2008, more than US$7.6 billion to the poor in Bangladesh the majority of them women. The bank had more than 2,500 branches and the repayment period of the loans at 99.6% with more than 97% of the borrowers being women. The bank has also had an impact in more than 97% of the villages in Bangladesh a feat which has inspired similar projects across the world. The World Bank has been keen to finance initiatives and programs that operate like the Grameen bank schemes (Yunus, 1999).

The Grameen initiative been replicated in the United States advanced higher history essay help

The Grameen initiative has been replicated in the United States with the majority of borrowers being women. Grameen offers loans to support the economic activities of individuals whose members are immediate relatives. It also offers agricultural loans, loans for livestock and equipment (Esty, 2011). The bank’s huge success is as a result of it’s solidarity lending system and the lack of written contracts between borrowers and the bank. Additionally the members are encouraged to save for contingencies and emergencies. According to Sarker (2001), more than 50 million of Bangladesh borrowers have overcome acute poverty, with standards of living improving as well. The other success of the Grameen Bank has been achieved through the village phone program that allows women entreprenuers to start businesses in the rural areas (Yunus, 1999). Through this program more than 28,000 villages in Bangladesh have been impacted, with close to 90 million people accessing market information and more than 50,000 mobile phones being in operation. Since 2003, Grameen has been working to implement a new program dubbed “Struggling Members Program” that seeks to extend small loans to beggers (Etsy, 2011). The program has also achieved considerable levels of success in the country.

Social Development Bank Versus Grameen Bank african history assignment help: african history assignment help

Social Development Bank Versus Grameen Bank

Bangladesh too like Saudi Arabia has a long way to go in ensuring that women are able to access financial and banking services just like their male counterparts. Despite the huge strides made in empowering their women, Saudi Arabia lacks a comprehensive and all-inclusive method to bring the unbanked and poor populations of women to access financial services. SDB has since it’s inception in 1973 focused on the entire citizenry with no special focus on women in the country. This is unlike Grameen Bank which has provided it’s solutions to the vulnerable in the community with the majority of them being women (Al Mamun, 2012). Grameen Bank has offered it’s services to a more liberalized industry allowing more women to use the microcredits to venture into businesses. The focus of the SDB has been more into the cities where most women are empowered and not alienated unlike those in the rural and poor areas. Grameen Bank has on the other hand focused on the unbanked, poor and uneducated women in rural areas. Althiugh SDB has played a key role in encouraging Saudis to develop a saving culture, there has been little or no innovation to encourage those with little income to start saving. The opposite has been the case of Grameen Bank.

Grameen Bank founded on the philosophy of trust african history assignment help

Grameen Bank is founded on the philosophy of trust and honesty at the village level, which has significantly made uptake of knowledge on financial services and products high among the poor in Bangladesh (Sarker, 2001).  On the other hand, the Social Development bank has not been able to achieve this. According to Yunus (1999), Grameen Bank has encouraged women to get involved in the less ventured economic activities like crafts, agriculture allowing them to expand their skills, while on the other hand, SDB’s main role has been in igniting the MSME sector. Unfortunately on a few unbanked and unexposed women in Saudi Arabia can take part in this. Data from the King Khalid Foundation reveals that more Saudis take loans from other banks in the country as opposed to the government owned institutions which only shows a huge need to bring more reforms. In bringing these reforms the aim should be in overhauling SDB to ensure that it focuses on a model like that of Grameen Bank. According to Al Mamun (2012), the huge success of the Grameen model has been as a result of working with multiple partners, it would therefore be important for SDB to consider onboarding different stakeholdes from around the world in a bid to create a solution that is going to change the story of financial inclusion and access to opportunities for women in Saudi Arabia.