Lender with a mission: Bangladesh's Grameen Bank targets poorest of poor

Article Abstract:

Bangladeshi professor Muhammad Yunus founded the creditor outfit Grameen Bank which is geared towardsmicro-lending without collateral to the rural poor. By doing so, he has defied banking conventions and inspired other would-be philanthropist bankers in othercountries. In US, for example, a group of congressmen has asked Pres Clinton totry micro-lending modeled after Grameen Bank. Yunus' successful bank, whose name means rural in Bengali, was founded in 1983 and has women comprising the majority of its clients. Another interesting and unique feature of the bank is its encouragement of virtuous living such as maintaining a clean environment.

Economic aspects, Finance, Services, Appreciation, Poor, Loans, Yunus, Muhammad

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Lights, music - inaction!

Article Abstract:

Bad debts and the corruption of officials and employees plague the Bangladesh banking system. Trade unionists who wield tremendous power and control over theindustry can dictate to the banks which loans to approve and which applicants for positions should be considered by management. Yet, most of these union heads reportedly do not perform any particular function in the banks they work for. The passage of the Banking Companies Act 1991 is envisioned to give the Bangaldesh Bank, the country's central bank, more power to rid the industry of its maladies.

Labor organizations, Industry Overview, Ethical aspects, Labor unions, Corruption, Corporate corruption

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Rise of the phoenix

Article Abstract:

The Bank of Credit and Commerce International's (BCCI) Bangladesh unit has been revived as the Eastern Bank. The international bank has been shut down in 1991 amidst accusations of large-scale fraud. Bangladeshi officials have asserted that Eastern Bank had been created not as a resurrected BCCI but as a totally new bank to avoid the stigma of the former. It has been formed as a joint venture between the government and private sectors.

Bank holding companies, Savings institutions, except federal, Management, Bank of Credit and Commerce International S.A., Eastern Bank Corporation Inc.

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