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Posted on 10-13-06 9:15 AM     Reply [Subscribe]
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Posted on 10-13-06 1:38 PM     Reply [Subscribe]
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Boston Girl: Trying Boleto???? From Boston!!!!!!!!!!!!!!!????????????

Yunus Bhai, Wa Bhai Kya Kaam Kiya Bhai! Pure South Asia ka Bada Naam Kiya Bhai! Apun Bol Sakta Hai, Apun ka Bhai hi Yaar! Just 127 Km.

Munna
 
Posted on 10-13-06 2:55 PM     Reply [Subscribe]
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Personally, I have written so many papers about microfinancing so Yunus is practically my 'academic father'.

boston,

you mean 'published' or just some coursework twaddles :P


LooTe
 
Posted on 10-13-06 3:06 PM     Reply [Subscribe]
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BUT WHY PEACE PRIZE, sorry to poke my nose here but........................?They have no category for the ECONOMICS ?
 
Posted on 10-13-06 3:17 PM     Reply [Subscribe]
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another one from the truth Revealed Series

why yunus won the Nobel peace prize?

Lately there has been severe shortage of Peace advocates in the world. in 2004 wangari won by planting trees and saying that aids was introduced africa by the west as WMD haha! Last worthy winner, i'ld say medics without borders??

Yunus should have been given Noble prize in Economics. the judges however felt felt that he was not academic enough to get the prize in economics, hence chucked him in the peace prize category!
 
Posted on 10-13-06 3:49 PM     Reply [Subscribe]
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Dr. M. Yunus who has brought change to millions of poors around the world well deserved the prize. He plans to create a company that would make low-cost, high-nutrition food for the poor and in setting up an eye hospital for the poor in Bangladesh by using the award money.

- http://www.cnn.com/2006/WORLD/europe/10/13/nobel.peace.winner.ap/index.html
 
Posted on 10-13-06 5:55 PM     Reply [Subscribe]
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Peace is linked with economics...that is why.
 
Posted on 10-13-06 6:51 PM     Reply [Subscribe]
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Kohinoor, there is Nobel prize for Economics.
Loote, isnt being anonymous the greates thing online chat rooms provide? :-) So where I wrote what is up for speculation :-))

Personally I feel that Peace prize was the right category Yunus rather than economics because he hasnt really contributed any economic theory...he started a 'program' that helped people lift themselves out of the poverty. He is a banker, but catering the poor and depending on honor system. It worked like charm and his impact can be felt all over the world.
Even Amartya Sen addressed the issue of development and poverty in the thirld world countries but ended up getting Nobel for Economics. I see his work more as economics than Yunus. He is an economist by training, but so what? Way to go Yunus!
 
Posted on 10-13-06 7:32 PM     Reply [Subscribe]
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Actually this year's prize is divided into two equal parts, to Muhammad Yunus and Grameen Bank. So it doesn't mean that Yunus is receiving this prize for the economist he is. It actually is the appreciation for the Grameen bank which was full of controversy since it was started.

It is also another slap for the Islamic fundamentalist who even managed to put Yunus on their Jihadi list. Favoring women in the country like Bangladesh was always a risk. He was attacked, his banks were looted but he showed the courage and stood by his principle. When 97% of your total customers are women and men are refused right at their faces in an Islamic country like Bangladesh, yeah you deserve something.

When Shirin Ebadi won the prize in 2003, in the concert they managed to change the lyrics of John Lennon's song Imagine. Instead of "nothing to kill or die for and no religion too" they came out with "Nothing to kill or die for and no division too" . It shows how sensitive these people are and how seriously they take this matter. Let's hope this time nobody is offending any Muslim by any means.
 
Posted on 10-13-06 10:59 PM     Reply [Subscribe]
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I was happy when wangari got nobel peace prize... Hearing news about Yunus, I am really touched. Seems, like world is finally realiziing importance to fight social problem and poverty to maintain peace in the world... Cheers to Yunus and his Grameen Bank... its is this kind of effort that will really empower poor...we need more social enterprenuers like Yunus...
 
Posted on 10-14-06 12:46 AM     Reply [Subscribe]
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Congratulations to Dr. Yunus!

He and the Bank he founded (and the business model of which has been globally replicated) richly deserve the award.

Everybody appears to be ecstatic here in Bangladesh on hearing this news.

This country -- which is smaller than Nepal in terms of land-mass produces enough grains to feed its almost 150 million people -- deserves wider recognition in the
world for the pace of development it has adopted in the last one decade.

To be sure, Bangladesh has its problems: the rise of religious fundamentalism, corrupt politics, inadequate infrastructure, etc.

But in the last two years that I have been here for work, I can say that almost all Nepalis who have come here for a visit have gone back being quite impressed with Bangladesh's VISIBLE bikas on so many fronts: health-care, literacy, road networks, mobile phone penetration, overall infrastructure and so on and on.

The refrain among most visiting Nepalis is: "I never knew Bangladesh has done so
much better than Nepal like this. And it looks like Nepal has become actually a lot
more khattam than Bangladesh."

In January 2005, when Kanak Dixit came to Dhaka from Kathmandu by way of road,
he remarked that he found Nepali highways khattam while highways in Bangladesh were/are so much better.

Curiously, in today's (Sat) Kantipur and The Kathmandu Post (online editions), I saw NO mention of Yunus and his Nobel prize, despite the fact that there are many Grameen-like programs running in Nepal.

oohi
"somewhere in Bangladesh"
ashu
 
Posted on 10-14-06 12:55 AM     Reply [Subscribe]
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I'm sure I have own biases, but increasingly I think that Nepal needs to learn a lot from Bangladesh.

If interested, please find a review I once published in The Nepali Times.

[Thanks to my friends M Hossain, T Hussain, A Huq for their suggestions that made this piece better than what it was before.]

********************
Development by lists

The youngest South Asian country could build upon the resilience of its business community
by Ashutosh Tiwari

From Issue #251 (10 June 05 - 16 June 05) |

Most Nepalis are unsure about what to make of Bangladesh. When asked, they grope for clichés: floods and cyclones, heat and dust, overpopulation and food shortage, poverty and destitution. Others who have been there talk about the allure of Bangladeshi textiles and handicrafts, the zing of Bangla cuisine, Sylhet’s stunningly beautiful tea gardens and mangrove forests of Sundarbans. Some mention the vitality of politically conscious theatre and arts scenes, a few may even hum a stanza or two of evocative Rabindrasangeet.

But tell them how this youngest South Asian country, with a land area that’s slightly smaller than Nepal’s but a population of 150 million, has today created food surpluses. Explain to them its success in reducing population growth at a rate lower than Nepal’s. Describe its pioneering use of micro-credits to help impoverished women through NGO networks.

Talk about how its $ 5 billion-a-year readymade garment industry has managed to maintain a steady growth despite the end of the global quota system. Add further that South Asia’s largest shopping mall opened for business in Dhaka last October and you are likely to hear the inevitably lamentable comparisons with Nepal. To be sure, highlighting Bangladesh’s recent achievements is not going to make its problems related to governance, economy and geography disappear anytime soon. But doing so does recast them as manageable problems that-given the political will, resources and time-are likely to yield solutions.

More at:
- http://www.nepalitimes.com/issue/251/Review/399
 
Posted on 10-14-06 1:28 AM     Reply [Subscribe]
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Congratulations to Dr. Yunus!!
 
Posted on 10-14-06 1:31 AM     Reply [Subscribe]
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ongratulations to Dr. Yunus!!
 
Posted on 10-14-06 7:35 AM     Reply [Subscribe]
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यै ग्रामिण बैंक को अबधाराणा लाई बाङ्लादेश बाट ल्याएर नेपालको परिबेशमा लागु गरेको हो तर अस् फल ठ्हरियो । अनुसन्धान गर्दा ठोस् प्रमाण हरु जुटाउन सकिन्छ ।
 
Posted on 10-14-06 4:21 PM     Reply [Subscribe]
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Engaging a thread indeed!
Yunus should have been awarded the Nobel in Economics cum Peace coz he did not only pioneer the concept of micro-credit but also implemented it successfully and spread peace across the lives he touched and influenced. The guy also has a PhD from Vanderbilt in economics.
The Committee or the powerful people in the background thought that this Muhammed is only fighting for the global Proletariat cause, therefore no economics prize for him.
Please feel free with to criticize with valid facts and reasoning. Thanks.
 
Posted on 10-14-06 4:47 PM     Reply [Subscribe]
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Okay, here I am once again, before going to bed......
Well wat is theory? Sth which is just written in paper or sth which is first implemented and later developed...so the former one only qualifies for the nobel in that particular subject if he does it in writing in some kind of institution full of hypocrites who has never seen the real problems ?Like our neighbour Bangu....Amartya Sen..who is still formulating plans for India sitting in the Planning Commission or sth I guess( of course after getting the nobel)?This is strange, really strange....I badly want Yunus to get the one in Economics....not in peace........
 
Posted on 10-14-06 5:06 PM     Reply [Subscribe]
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Yunus,

Great guy, humaitarian, pionee.... Deserves Congratulation BUT,

I think they should either change NOBEL PEACE PRIZE to NOBEL PRIZE or give it exclusively to someone working for peace. I am sure, ALFRED NOBEL would not have liked this and some previous nobel peace prize decision. Kura ghumaudai, grameen bank lai peace sanga relate garna ta sakinchha but i doubt if it justifies the concept of nobel peace prize..
 
Posted on 10-14-06 7:00 PM     Reply [Subscribe]
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What I like most is Yunus's simplicity and politeness when I met him first somewhere in SEAsia about 13 years ago. That also holds true with other nobel winners whom i had met earlier.

 
Posted on 10-15-06 5:49 AM     Reply [Subscribe]
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This is the first time I have heard of Dr Yunus. His works vis-a-vis microfinancing clearly lay beyond the ambit of my academic reach. So do excuse my ignorance. I have however read a few odd bits and bobs by the good old Cantabian - Amartya Sen.

But this is such great news. A due recognition of one man's visionary insights and his ability to translate these into reality - long over due perhaps.

Never has the distiction of a Novel prize been so richly deserved. Very many congratulations, Dr Yunus.

********
Ashu,
I must have missed your article above - thanks. Lovely.
So you're lately trotting about in the Bangla neck of the woods eh! Blimey.
I was 'somewhere in Bangladesh' myself many moons ago.
Hope all is well with you - my belated Dashain and Tihar greetings.
 
Posted on 10-15-06 12:45 PM     Reply [Subscribe]
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SL,

Many thanks for your good wishes.
I wish you and your family all the best in these festive times!

Meantime, here's an article by M Yunus.
Taken from that bastion of capitalism aka The Wall Street Journal

Source:
- http://www.opinionjournal.com/extra/?id=110009093
Found via Greg Mankiw's blog

Enjoy,

oohi
ashu

NOBEL MEN

A Hand Up, Not a Handout
Why not microloans for Katrina victims?

BY MUHAMMAD YUNUS
Saturday, October 14, 2006 1:00 p.m. EDT

America's government and people brought charity to a new level last year in their response to Hurricane Katrina. The rebuilding has been particularly difficult, however, because it has involved lives as well as bricks and mortar. Many victims had been desperately poor all their lives. Helping them to self-sufficiency has proved just as difficult, if not harder, than putting homes and businesses back up again.

Having many very poor citizens, and more than its share of natural disasters, Bangladesh--my own country--has a great deal of experience facing both these challenges. We have a per capita gross national income of $440, with half the population living below the poverty line. We've little to start with, and much of that is repeatedly snatched away. In 1998, floods covered much of the country for over two months, affecting 30 million people; and a single cyclone killed 300,000 in 1970. Despite these catastrophes, more of our people are climbing out of poverty.

So at the risk of sounding presumptuous: What can the U.S. learn from Bangladesh about post-disaster economic recovery? Like many other countries, even Bangladeshis were quick with a handout after Katrina, giving the U.S. $1 million for the victims. But Americans might be surprised to learn that one of our most successful tools for rebuilding businesses is not government handouts, but rather, small loans packaged with practical business and social advice.

Microfinance is one of the biggest success stories of the developing world, and proponents like me believe it could be just as successful in helping the poor in wealthy countries such as the U.S. The basic philosophy behind microfinance is that the poor, although spurned by traditional banks because they can't provide collateral, are actually a great investment: No one works harder than someone who is striving to achieve life's basic necessities, particularly a woman with children to support.

Sadly, it is also true that in catastrophic circumstances, very little of the cash so generously given ever gets all the way down to the very poor. There are too many "professionals" ahead of them in line, highly skilled at diverting funds into their own pockets. This is particularly regrettable because very poor people need only a little money to set up a business that can make a dramatic difference in the quality of their lives.

I started the Grameen Bank 30 years ago by distributing about $27 (no typo here!) worth of loans among 40 extremely poor Bangladeshis. Since the bank officially opened in 1983, it has loaned $5.7 billion in microfinance. Today, Grameen has 6.6 million borrowers in Bangladesh alone, borrowing $500 million a year in loans that average just over $100 each. The loans are entirely financed by borrowers' deposits and the bank recovers 98.85% of all money loaned. Notably, Grameen Bank has been profitable in all but three years since its launch. Our largely poor customers save $1.008 for every dollar they borrow, so the poor are truly funding the poor.

The bank supports businesses such as small services, stores, direct sales, furniture-making, cell phone stations and milling, all of which support the local economy. And it works. More than half of our borrowers have moved out of poverty, mainly through their own efforts. Most importantly, when you lend money to disadvantaged people, it gives them a sense of pride, rather than the humiliation they may feel over a handout.

And just as helpful as the money is the guidance they get from the bank. Training and connecting poor, inexperienced workers to a reliable and ethical lending and savings service is a huge advantage for them that only gets stronger after a disaster. This is particularly true of women, who are often constrained by social and financial barriers. Grameen communities have also made tremendous strides on health and social issues, such as sanitation, and pushed aside discriminatory practices such as bridal dowries.

The impact of microfinance is spreading world-wide. As of December 2004, 3,100 microcredit institutions reported reaching 92,270,289 clients, 66,614,871 of whom were among the world's poorest when they took their first loan. Assuming five persons per family, the loans to the 54.8 million poorest clients affected some 330 million family members by the end of 2004.

Microfinance has worked so well that it has become a major instrument of reconstruction in post-tsunami Asia as well. A Sri Lankan conglomerate, Ceylinco, partnered with Grameen to provide small loans to 10,000 tsunami victims. These range from $300 to $10,000 and carry an interest rate of 6%, less than half the rate for similar small loans in Sri Lanka. The loans have a one-year grace-period, and Ceylinco takes no collateral, thereby heaping all the risk onto itself. But the company felt this was still a wise investment.

Because some countries that rely heavily on microfinance also happen to be disaster-prone, Grameen now has special disaster loan funds (DLFs) to help meet the urgent need for cash after a catastrophe. These funds also aim to offset the microlender's own losses. The funds were established in Bangladesh after the record flooding of 1998, which affected 20% of the population. Similar funds were set up in Central America in the wake of Hurricane Mitch, and in Poland after the floods of 1997. The DLFs are financial reserves and usually derived from the initial donor grant to the micro-credit lender.

Many people ask, Why not just give free cash, especially under such dire circumstances? In Bangladesh, we've learned that when aid is free, not only do the poor get the least of it, but everyone inflates their needs. While some handouts are clearly necessary in such times, we focus on lending small amounts of money. This lets us keep costs down and rebuild funds for the next disaster. Most importantly, our Grameen banks are ready to act at a moment's notice. They can respond to a disaster without waiting for anyone's permission, immediately becoming like humanitarian agencies by suspending loan payments, and providing cash, food and medicines. Once rebuilding starts, the bankers keep detailed records of the money lent, and people are allowed to repay bit by bit.

That is the strategy we followed after the 1998 flooding, which covered 50% of Bangladesh's land and affected customers at about 70% of our branches. More than 700 Grameen borrowers or their family members were killed and just over half (a million borrowers) were affected by the flooding. That represents a small percentage of the overall population affected, but the Bank and its staff where there right away to help with immediate needs. Later, microlenders helped people restructure their loans or gave out new loans on more favorable terms.

Microlending has already helped millions reach a better life through their own initiative. It has also given them valuable skills as well as crucial financial back-up in case they ever face a natural disaster like Katrina. So it might be time to think about another type of support for Katrina's victims: the microloan. As our small, flood-battered country has learned, giving someone a hand up doesn't always require a handout. The most important thing is to help people get back to work while letting them hold on to their self-respect. Microloans can do just that.

Mr. Yunus, who yesterday won the 2006 Nobel Peace Prize, is founder and managing director of the Grameen Bank of Bang
 



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