Banker to the Poor

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Banker to the Poor
BankertoPoor.jpg
Author Muhammad Yunus, Alan Jolis
Country Bangladesh
Language English
Subject Economics, Poverty
Genre Autobiography
Publisher PublicAffairs
Publication date
1999
Media type Paperback
Pages 288
ISBN ISBN 1-891620-11-8 / ISBN 1-58648-198-3
OCLC 40723664
Dewey Decimal 332.1/095492 21
LC Class HG3290.6.A6 Y86 1999
Preceded by Banker to the Poor: The Autobiography of Muhammad Yunus, Founder of Grameen Bank

Banker to the Poor: Micro-Lending and the Battle Against World Poverty is an autobiography of 2006 Nobel Peace Prize Winner and Grameen Bank founder Muhammad Yunus. This book shares the details of Yunus’ early life, moving into his college years, and into his years as a professor at Chittagong University. In 1976 Yunus incorporated the help of Maimuna Begum to collect data of people in Jobra who were living in poverty depending on the credit of moneylenders. The list Begum brought back named 42 women who were living on credit of 856 taka which is equivalent to 27 U.S. dollars. Yunus felt terrible that all it took was 856 taka to bring these women to self-sustainability so he loaned them his personal money with no collateral attached and did not charge interest on the loan. After this money was all repaid, he continued to survey the community to see if this was a rare occurrence and found out that this example was replicated throughout the country of Bangladesh. So Yunus decided that something must be done. He went to his local bank and asked them to loan money to these poor & destitute borrowers. His local bank refused. He took the case clear up to the head bank in Dhaka and finally secured credit to loan to the local borrowers. In January 1977, the Grameen Bank was born. This bank started under completely new principles than any bank in Bangladesh. Its premise was that each borrower has a human right to credit. The borrowers had to form groups of five in order to form some type of security on the loan. A loan was then given to two members of the group. After payments were successfully made for six straight weeks, the next two members could take out a loan from Grameen. The chairperson is usually the last person to obtain ability to borrow. This micro-credit program started by Grameen has been tested throughout Bangladesh, and has even been expanded through other programs into much of the world today and has been proven to work with minor variances in the basic principles.

The Italian film company Eurofilm s.r.l. owns the worldwide and exclusive film and television rights of the book. Film director Marco Amenta is currently working on making the film Banker to the Poor for the big screen, based on the international bestseller.

The movie tells the story of Muhammad Yunus, a Bengali economist and banker, inventor of microcredit and Nobel Peace Prize in 2006 along with his Grameen Bank. For the script of his "Banker to the Poor", written together with the famous Sergio Donati, Amenta was rewarded by Robert De Niro at the Tribeca Film Festival. Italian producer Simonetta Amenta has purchased the film rights through her company Eurofilm- before Professor Yunus won the Nobel Prize.

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