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Oct 14, 2006
"My greatest challenge has been to change the mindset of people. Mindsets play strange tricks on us. We see things the way our minds have instructed our eyes to see." --Muhammad Yunus
Banker to the Poor Wins Nobel Peace Prize
Muhammad Yunus, famously known as the Banker to the Poor, is this year's Nobel Peace Laureate. The Bangladeshi economist and the revolutionary bank he founded will share the prize. The Grameen Bank provides credit to "the poorest of the poor" in rural Bangladesh, without any collateral. It has 6.6 million borrowers, 97 percent of whom are women, and provides services in more than 70,000 villages in Bangladesh. Many people have argued for a long time that the Nobel needs to have a prize for development, and this selection confirms that the Nobel committee recognizes global development as fundamentally connected to the promotion of peace. A short video interview with Yunus has an overview.
BE THE CHANGE
Sometimes a radically new framework can help change a limiting mindset. This fascinating article by Yunus crisply explains how Grameen fundamentally challenges the mindset of conventional banking systems. More ...
