Category Archives: Southeast Asia

Nobel Laureate Professor Muhammad Yunus, the founder of Grameen Bank, will receive the US Congressional Gold Medal award today, Wednesday April 17th.  Professor Yunus will become only the seventh person in history to receive the Nobel Peace Prize, the Presidential Medal of Freedom, and the Congressional Gold Medal.  Congress will present Professor Yunus with the Gold Medal to honor his pioneering microfinance work.  Earlier, the House of Representatives voted unanimously … Read More >>

Islamic Microfinance on the Rise

An estimated 1.28 million clients around the world use Sharia-compliant microfinance services, a four-fold increase since 2006, according to a Consultative Group to Assist the Poor (CGAP) study released Wednesday April 3rd.  Nearly a third of all institutions reported the launch of their Islamic microfinance operations in the last five years, and the number of providers offering these products has doubled since 2006.  Ninety-two percent of Sharia-compliant loans are concentrated … Read More >>

Most everyone interested in microfinance knows the story of Grameen, either because somebody gave us Yunus’ Banker to the Poor or because of his receiving the Nobel Peace Prize. In either case, one of the notable “aha” moments for Yunus was the realization that banks didn’t serve the poor in Bangladesh. Microfinance Institutions were quickly able to step in and fill the gap. Sri Lanka shows just how big that … Read More >>

MFI Highlight: Cambodia – CREDIT

CREDIT, a licensed microfinance institution in Cambodia since May 2004, has raised almost $2,000,000 on Kiva over the past 27 months. However, it hasn’t always been a MFI — the faith based organization was started in 1993 by World Relief US in Cambodia and was registered as a private limited liability company (LLC) in 2003. Today, World Relief Corporation has a 74% shareholding in the company, World Relief Canada owns … Read More >>

From Bangladesh To The World

Microfinance has been around for decades, but no country has benefited from it more than Bangladesh. Bangladesh is one of the most populous countries and has one of the highest poverty rates in the world. I have known about the great stuff that Muhammad Yunus and the Grameen Bank have been doing in Bangladesh, from the original Grameen Bank to some of the newer branches such as Grameen Danone (affordable … Read More >>