Chris's Reviews > Banker to the Poor: Micro-Lending and the Battle Against World Poverty

Banker to the Poor by Muhammad Yunus
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May 24, 12

bookshelves: 2012, biographies
Read in May, 2012

Less of a "how-to" and more of a story, this book tells how Muhammad Yunus caught the vision and then designed a scaleable method for micro lending, first in Bangladesh and then in other parts of the word. The story is inspiring on several levels: 1) Clearly an underdog story. Yunus had to fight through lots of opposition--especially from the established finance industry--to launch [and sustain] Grameen Bank. 2) By targeting women, Yunus moved into a new, and some would say, "risky" market. He demonstrated over time, however, that women, especially when working collectively, were actually a low-risk population. 3) Because he's a visionary guy, Yunus had to exercise enough discipline to recruit, train and deploy an army of sold-out staff members. He also had to establish protocols that would ensure that the enterprise would flourish even if he were not present. After reading this book, I'm eager to explore micro-loans, micro-savings and micro-insurance in more detail.
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