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Books > Business & Economics > Finance & accounting > Finance > Banking
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Other Side of the Coin - The Psychological Implications of Microcredit (Paperback)
Loot Price: R1,653
Discovery Miles 16 530
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Other Side of the Coin - The Psychological Implications of Microcredit (Paperback)
Expected to ship within 12 - 17 working days
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Donate to Against Period Poverty
Total price: R1,673
Discovery Miles: 16 730
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Microcredit banking is the brainchild of the 2006 Nobel Peace Prize
Laureate Muhammad Yunus Professor of Economics at Chittagong
University, Bangladesh and Chair of Grameen Bank. From small
beginnings, the Microcredit movement has become worldwide.
Professor Yunus determined to find a new way to make loans to
impoverished peasants who commercial banks would not give credit to
as they could not provide the security for the loan. Yunus devised
a method to provide microloans to individuals who formed themselves
into "small groups" aiming at mutual support. The loan was provided
to the group for each to benefit in sequence. The group, based on
trust, originally worked together so that the loan was repaid by
the first recipient and then given in turn to the other members.
The self-esteem of the recipients was raised by the success of the
group members in repaying the loan becoming shareholders of the
Grameen Bank. From small beginnings, Grameen Bank has grown into a
successful organisation with world-wide connections to other
microcredit enterprises. This book looks in depth at the
psycho-socio-dynamics of poverty, at mobilising constructive forces
of groups to empower borrowers to become effective agents. The
volume is grounded upon consideration of poverty as a psychological
as much as an economic condition, and discusses microcredit as an
innovative tool to overcome poverty in that perspective. It will
pay special attention to the Grameen model considered through the
special relational technology associated with it, which draws upon
solidarity-lending groups and community interaction.
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