Topic > Analysis of The Banker to the Poor by Muhammad Yunus

The Banker to the Poor, the autobiography of Muhammad Yunus, explains the journey of a man fighting poverty. The story highlights the program of Grameen Bank, founded in Bangladesh by Yunus. The program was created to provide small loans to poor people to help them get out of debt and achieve a sustainable life. Yunus helped the poor to help themselves through microloans or small grants. It all began with Yunus, twenty-seven dollars and forty-two women. All forty-two of these women were in endless debt. This viscous cycle prevented them from living a full life. Yunus, aware of their recurring problems, gave them enough money to pay off the debt which was only twenty-seven dollars. The women put the money to good use and started their own businesses. They could finally afford enough raw materials to get back on their feet and progress in life. This success led to the development of Yunus' theories and paved the way for the Grameen bank program. Yunus is a pioneer of the concept of microlending or microcredit. Argues that credit is a human right that e...