• we have a ‘crisis’
• the State needs to cut spending
• home repossessions and bankruptcies are rising
• we discover that bankruptcies and repossession are illegal and unlawful and more victims of financial, legal and judiciary exploitation
• and a Bangladeshi has to show us how ‘proper banking’ has to be done – for the real people in the real economy.

This article in The Independent describes the opening of a branch in Glasgow.

AppLab Application 1: Weather Forecasts

Users can now send simple text messages to obtain daily as well as seasonal weather forecasts for certain cities and districts. Data about the day’s temperature, forecast for the next three days, as well as other atmospheric conditions is sent back instantaneously.

The benefit: for one, farmers can plan their farming activities in accordance with the mood of the weather. Secondly, people can plan their trips to the nearest town or city, a journey that is often on foot. The advantages offered by this service are simple and more a matter of convenience.

AppLab Application 2: Google Trader

Users can use this application as a marketplace, or an intermediary though which buys and sellers of agricultural products meet in order to decide upon prices, quantities and timings of transactions.

The benefit: buyers can easily search for the best bargain while sellers can negotiate the highest possible prices for their products. At the same time, since buyers and sellers, who could live several hours away from one another, retain the money that was previously given to the intermediary, or middle-man as his margin.

AppLab Application 3: Farmer’s Friend

As the name suggests, this application provides farmers with short tips about preventing disease in crops and animals, maximizing crop yield, storing crops efficiently and safely, etc. Google’s search engine technology is used to scour a database of short pieces of information.

The benefit: traditional and modern wisdom is gathered and disseminated through this service to ensure everyone has timely and relevant information which can improve their output as farmers. Educating the world, one farmer at a time.

AppLab Application 4: Clinic Finder and Health Tips

Text messages are used to spread information about basic ailments, AIDS, HIV, locations to the nearest clinic, etc., to patients as well as people who may be interested in gaining such knowledge. (Read about another health-care initiative by Grameen)

The benefit: poor health is a major concern and source of cash outflow for the poor. This service will ensure people get quick first aid, and can take the right preventative measures to ensure better health standards. The user’s privacy is a bonus.

These services are simply the tip of the iceberg that is yet to be explored by Grameen Foundation and service partners of AppLab. Can you think of any other service that may be helpful?

(Guest post by Fehmeen, Microfinance Hub)

Full story here.

The full article is here.

By Paul Bennett

Published: December 30 2009 22:06 | Last updated: December 30 2009 22:06

I spend my life sitting in boardrooms across from chief executives asking me to help them find that mythical beast, “the big idea”. To them, I say this: “Small is the new big.”

I feel this even more strongly after a recent visit to Bangladesh to meet Muhammad Yunus, recipient of the 2006 Nobel Peace Prize. I wanted to better understand the Grameen organisation, its micro­financing banking system, and its collaboration with the global French food group, Danone. There, I would see with my own eyes what social enterprise looks and feels like when the rubber hits the road. In recent years, Ideo’s client base has increasingly been about designing not only for financial but also for social impact, and a visceral sense of the opportunities and realities was what I was looking to learn.

Copyright The Financial Times Limited 2009. You may share using our article tools. Please don’t cut articles from FT.com and redistribute by email or post to the web.

This article can be found at:

http://www.ft.com/cms/s/0/c085c5f2-f571-11de-90ab-00144feab49a,_i_email=y.html

If only the author understood the maths of interest and compounding interest! And if he had a less arrogant attitude towards “countries such as Peru, Pakistan or Nigeria”. As if people were different in their desires to be treated honestly by an honest system.

Maybe one day also this FT columnist will wake up to the dishonesty inherent in Western financial institutions! See Financial Fairness as our latest attempt to make a difference in Westminster.

The Glasgow Caledonian University authorities and Dr. Yunus signed a deal to replicate the Grameen Bank model in Glasgow to help reduce poverty in the Scottish city!… More here.