Re: [chottala.com] Bhai Akta Proshno

I had the golden opportunity to work with the Grameen group (and Prof. Yunus) in the early 2000 while representing one of the world's most prolific US technology company,  a Dow Jones 30 company. Just thought of sharing some of the contexts and observations, and hopefully clarify some misunderstandings....and by the way these are my point of views only:

 

1. The name Grameen Bank itself is somewhat of a misnomer, it is really not a bank because it's loan disbursement is not based on collateral like typical banks. It is more closer to a venture capitalist (VC), where funds are dispersed at high risk with no guarantees. However, Grameen doesn't necessarily take ownership stake at the ventures like VCs do. If one  would seek funds from any Western Banking system or VCs without collateral or giving ownership stake, their reaction would be, "please share with me whatever you are drinking?" in bangla it would translate close to "Apne ke gaza khaye ashshen?"

 

The high interest rate that is being charged by Grameen is like the high risk credit cards in the West, and most Western card holders pay a hefty interest rate for those cards, ~less than Grameen!. In short, the Grameen business model is very unique in it's own way, and nobody could deny it's success from a financial point of view......and the positive social impact it brings. The positive impact and success are the key reasons I would say, why it had been replicated around the world, including USA as one of the financial instrument in poverty elimination.

 

2. From a poverty elevation perspective, more accurately the degree of elevation Grameen provides is yet to be guaged. One could safely say that it jump starts the poverty elevation process at a grass root level, an initial step.....usually the most difficult of all particularly in a 3rd world setting (And I know this first hand from my own experience!). This system can be viewed as one of the building blocks of a larger set of the poverty elevation puzzle. There had been few articles written in the mainstream business magazines in the West on this very subject, and the aggregate viewpoint was that one would still need the good old 'capitalism' for poverty elevation. Some examples of China and India were cited as how 'Capitalistic' approach could accelerate the poverty elevation process. Grameen in my view offers one of the potent financial instruments in the poverty elimination portfolio! and you will need other instruments alongside to achieve high degree of elevation, or ideally an elimination......As Prof. Yunus would say like, "Visiting poverty in a museum".

3. Regarding name calling, "goshkhor......" I must say to those humbly, in your vision of the world is the image of yourself!

 

Rana

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From: siraj uddowllah <siraj_58@hotmail.com>
To: chottala@yahoogroups.com
Sent: Fri, December 18, 2009 10:34:29 AM
Subject: [chottala.com] Bhai Akta Proshno

 

Dear chottala readers,

I may misunderstand about Mr. Mohammad Rabby's viewpoint as because I have noticed since Dr. Muhammad Yunus received that Nobel Peace Prize so many people starting from our big big politicians upto many of our common people from our own Bangladesh criticized him, by telling him as "Sudkhor and Gushkor" and what not, instead of appreceating him for bringing such a prestigious and graceful position for our smallest poorest country Bangladesh in the world map.

The system of Grameen Bank only introduced by Dr. Muhammad Yunus which was appreciated by Nobel Peace committee to decide before awarding Nobel Peace Prize to him. Even Bill Clinton the former President of United States appreciated it. Not only Bill Clinton but also many countries appreciated that system with the exception of some our so called intellingentia group of our own Bangladesh who could not accept it whole heartedly. This system was actually for the poor people and of the poor people.

Now it is our people whose duty is to implement it in the right way to change their lot. What Engineer Mohammad Rabby raised a question I don't disagree with his asking whether our people are really getting benefit out of this or not, but we should always remember the common proverb "what is lotted cannot be blotted".

Starting from our Prime Minister upto all level of political leaders are expressing always their willingness to remove poverty from our country. Dr. Muhammad Yunus also by introducing his process of new invention with the idea of improving the fate of our poor people which is recognised overwhelmingly throughout the world. It is too early to comment anything. Let us wait and see whether our poor people are really going to have any benefit out of this or not. Then and then only we can say "grameen bank er madhhome asholei ki daridhro ghuchechhe / ghuchchhe bangladeshe? ??"

Dowllah (Dr. Siraj Uddowllah)

 
 

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To: chottala@yahoogroup s.com
From: m_rabby@hotmail. com
Date: Tue, 15 Dec 2009 08:33:26 +1100
Subject: RE: [chottala.com] Bhai Akta Proshno

 

please read carefully, what i have asked --
 
i did not raise question why he was awarded nobel..
 
my question was could GB realy helped bangladeshi poors -- are we able to upgrade bangladesh!! !
 
can we see this!!  if it realy does,, why whole bangladesh is not adopting it and why can't we be changed??
 
it is very easy to say theoritically, it is very difficult also at times --- but this never matters. we as a general people like to see the result -- we like feel the change -- we like to introduce ourselves as improved bangladeshis -- we like to walk in the same lane with all our brothers -- we like to see my fellow bangladeshi is not talking to me with fear because he is poor -- we like to see no one is taking extra advantage/ extra attention because he is noble/ intellectual/ rich etc. 

i am an engineer and i believe , there is always a huge difference from what we read and what we see practically. 

my question is not to harrase MR. YOUNUS.. what ever / how ever it is, his nobel is the greatest achievement of our nation. At times i also get emotional watching him.. but now after 38 years of our birth i want to be emotional watching new bangladesh.. . walking foreign roads with great proud,, which i cant do now with one great scholler and millions of poors behind..
 
i just can't.   

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