Expanding Dr. Yunus' Sphere of Influence

Coming here, the man who lends cash to people banks won’t touch

Sabine McNeill — Fri, 11 Jun 2010 12:16:18 +0000

It is rather disturbing:

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.

Dr. Yunus in London

Sabine McNeill — Thu, 20 May 2010 13:16:08 +0000

There will be two occasions to hear Dr. Yunus again in London:

Tuesday, 25 May 2010, 5-6pm, Old Theatre, Old Building, London School of Economics
Wednesday, 26 May 2010, 1-2pm, RSA

Four Mobile Applications for Grameen Foundation’s AppLab

Sabine McNeill — Fri, 26 Mar 2010 20:19:46 +0000

True to its brand name, Grameen Foundation is spearheading change in the microfinance sector once again by venturing into technology in order to deliver its potential to the poor. Their latest product is a tool that aims to encourage economic prosperity by eliminating information asymmetry through mobile phones in the rural sector. The tool, AppLab (read more at Microfinance Hub), has been successfully implemented in Uganda involving four different services:

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)

Grameen, Adidas to make low-cost shoes

Sabine McNeill — Sun, 21 Mar 2010 09:55:46 +0000

Another joint venture, comparable to the French company Danone, demonstrates how it is possible for business to be social!

Here is the article in the Daily Stary.

MyMicroCredit e.V.

Sabine McNeill — Sat, 20 Mar 2010 17:03:40 +0000

There is a remarkable multi-millionaire who has decided to follow the voice of his heart. He’s selling his homes and aeroplanes and, instead, has created the first microcredit organisation with which Europeans can make microcredits available to South Americans.

Click on this English or this German site.

Yunus calls for standardised interest rates

Sabine McNeill — Thu, 18 Mar 2010 08:12:46 +0000

This article in the Daily Star in Bangladesh is the result of a conference of microfinance institutions.

To call for standardised interest rates across all microfinance institutions would, of course, take all the steam out of the criticism that has arisen. But it’s always easier to criticise than to create!

Grameen America comes to Omaha

Sabine McNeill — Thu, 04 Mar 2010 13:52:03 +0000

After Grameen America opened its first branch in Queens, New York, the organization is now expanding to Omaha, Nebraska.

Full story here.

Robin Hood Tax as a “micro-tax” on banking

Sabine McNeill — Tue, 09 Feb 2010 20:23:14 +0000

As long as banks are not a social business the way that Dr. Muhammad Yunus defined it, people have to come up with creative alternatives:

The Robin Hood Tax is the UK version of the Tobin Tax which was at the beginning of ATTAC in France ten years ago.

As an anti-poverty campaign, it is more pragmatic than the economic theories of Tobin Tax definitions or the political demands of the Attac network.

Supported by a coalition of 48 organisations, the Robin Hood Tax campaign spells out what the income should be spent on.

And in the spirit of our times, it uses Twitter and YouTube.

The video is set to private until the launch which is set to 0.05am in parallel with the 0.05% tax that Robin Hood wants to take.

However, Mervyn King, the Governor of the Bank of England, dismissed the idea of a Tobin Tax only recently, according to the FT.

Of course, this tax doesn’t get to the root of all evils, but at least it’s bound to capture people’s imagination!

Updates here.

Bahrain opens bank under Grameen model

Sabine McNeill — Mon, 18 Jan 2010 08:25:38 +0000

The Daily Star in Bangladesh once again has good news about Grameen and Dr. Yunus: Family Bank, a microfinance bank licensed by the central bank of Bahrain, opened in Bahrain on Tuesday, said a statement of Yunus Centre.

The full article is here.

Cherie Blair discusses health issues with Yunus

Sabine McNeill — Mon, 11 Jan 2010 19:38:44 +0000

Cherie Blair, wife of former British prime minister Tony Blair, called on Nobel laureate Prof Muhammad Yunus, founder and managing director of Grameen Bank, and discussed healthcare programmes of Grameen Kalyan and Grameen Healthcare Trust yesterday.

During the meeting at the Grameen Headquarters at Mirpur in the city, they also discussed Grameen’s nursing colleges, health management centres, eye care hospitals, thalassemia initiative and overall health issues pertaining to women, says a press release.

The Daily Star, January 12, 2010