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Grameen Bank is a microfinance organisation and community development bank founded in Bangladesh. ... In 1998 the Bank's "Low-cost Housing Program" won a World Habitat Award. In 2006, the bank and its founder, Muhammad Yunus, were jointly awarded the Nobel Peace Prize.
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Grameen Bank (Bengali: গ্রামীণ বাংক) is a microfinance organisation and community development bank founded in Bangladesh. It makes small loans (known as microcredit or "grameencredit")[7] to the impoverished without requiring collateral.
Grameen Bank
Grameen bank logo.png
Type
Body Corporate (Bank Law)[1]
Industry
Financial services
Founded
October 1983
Founder
Muhammad Yunus
Headquarters
Dhaka, Bangladesh
Number of locations
2,568 branches (January 2018)[2]
Area served
Bangladesh
Key people
Abul Khair Md. Monirul Hoque (Acting managing director)[3]
Products
Microfinance
Revenue
Increase ৳12.436 billion (US$150 million)(2010)[4]
Operating income
Increase ৳8.514 billion (US$100 million) (2010)[4]
Net income
Increase ৳75.73 crore (US$9.0 million) (2010)[4]
Total assets
৳125.4 billion (US$1.5 billion) (2010)[5]
Number of employees
20,138 '(January 2018)[6]
Website
grameen.com
Grameen Bank originated in 1976, in the work of Professor Muhammad Yunus at University of Chittagong, who launched a research project to study how to design a credit delivery system to provide banking services to the rural poor. In October 1983 the Grameen Bank was authorised by national legislation to operate as an independent bank.
The bank grew significantly between 2003 and 2007. As of January 2011, the total borrowers of the bank number 8.4 million, and 97% of those are women.[8] In 1998 the Bank's "Low-cost Housing Program" won a World Habitat Award. In 2006, the bank and its founder, Muhammad Yunus, were jointly awarded the Nobel Peace Prize.[9]