Microfinance and Mr. Yunnus go hand-by-hand. Former dean of the Department of Economics at Bangladesh University, Mr. Yunnus is the founder of the Grameen Bank and pioneer in offering micro-loans to the poorest communities in the earth.
According to Mr. Yunnus, transaction costs and solvency concerns were the greatest obstacles for the development of a fair and sustainable financial ecosystem within the poor communities.
Mr. Yunnus overcame these obstacles through a new approach to lending, incorporating new ideas as group lending and progressive lending.
Mr. Yunnus was awarded the Peace Nobel Price in 2006.
Decades of success around the globe using micro-loans and universal principles from the Gospel of Jesus have inspired the development of the Microfinance ministry at Students International.
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Other useful sources of information about Microfinance
One of the few grad programs in the world devoted to Microfinance, offered by the prestigious UAM in Madrid.
The Microfinance Handbook, a complete guide to Microfinance from a financial market system perspective.
Take a look at the International Finance Corporation website, a World Bank subsidiary, that works to create markets that give new opportunities to people in developing countries. Microfinance is one of its focus.