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GRAMEEN BANK OF BANGLADESH
ASSESSMENT 2— RESEARCH REPORT
Executive Summary
Banks plays an integral role in the growth and stability of the economy. The government establishes various types of bank depending on the region and the demographics of the society. Few banks are meant to support corporate whereas few bank are set up for ensuring flow of credit in the rural economy. This assignment deals with the history and reasons behind sitting up Grameen Bank in Bangladesh. The funding and role played by Grameen Bank has also been discussed in detail. In addition to that, the lending policies and the drawbacks of Grameen Bank have also been discussed followed by recommendation for improving the efficiency and scope of Grameen bank.

Table of Contents
Executive Summary    2
Introduction    4
About Grameen Bank    4
Founder of the Grameen Bank    4
History of Grameen Bank    5
Business Model of Grameen Bank    5
Regulation Governing Grameen Bank    6
Funding of Grameen Bank    7
Key Programmes of Grameen Bank    7
Socio Economic Impact of the Grameen Bank on Bangladesh    8
Criticisms    8
Recommendations    9
Conclusion    9
References    10
Introduction
A bank is a financial institution that ensures regulation of the flow of money in any economy. According to Rahman (2019), the basic function of a bank is to receive money in the form of savings form the public and grant loans to the public when they need it. The banking industry is one of the curious industries in the world as it plays a very vital role in an economy. Grameen bank is a microfinance bank and is referred to as a community development bank. The emphasis of Grameen bank is on the microcredit to the individual who is at a need for such credit without any collateral.
About Grameen Bank
Grameen bank is a small microcredit bank, which provides micro-credit loans to the people who require such loans without any collateral deposit against the loan (Amin & Uddin, 2018). Grameen bank was started in 1976 in the oversight of Professor Muhammad Yunus at the University of Chittagong. The bank was designed keeping in the mind the importance of providing credit facility to rural poor through banking practices. In October 1983, the national legislation provided authorisation to Grameen bank for operating as an independent bank.
It was established on the sole belief that rural people have huge potential and supporting them with proper help and guidance can end poverty. It aims to provide credit facility to the farmers, small businesses, women's, unemployed people and illiterate. Access to such loans is based on some terms and conditions such as weekly instalment payments and others to support poor in earning a better living standard in each cycle of loan they take. The target of the bank is on the poorest of the people with a huge emphasis on the women who want to start their own small-scale business. As noted by Islam et al. (2018), Grameen Bank also focuses on the system of solidarity lending where the borrowers are educate about the benefits of positive social habits, which included sending their children to schools and others. This, in turn, brings a social change in the society and educates the next generation. The bank also promotes social businesses and entrepreneurship fields.
Founder of the Grameen Bank
The founder of the Grameen bank was Muhammad Yunus, who was born on 28 June 1940. He was also awarded by Nobel Peace Prize for finding the Grameen banks and the concept of microcredit and microfinance. Yuns has also started Social Business – Global Initiative in collaboration with various personalities across the globe. In February 2011, Yunus along with Saskia Bruysten, Sophie Eisenmann and Hans Reitz started Social Business – Global Initiative (YSB).
YSB works on creating and empower social businesses to address and solve a social problem around the world. He also became the chancellor of Glasgow Caledonian University in Scotland until 2018 and even published some finance books during that period. He has also served as board of director of the United Nations Foundation. Bangladesh's government removed him from the position of Grameen Bank for legal violation and an age limit on his position.
Yunus was inspired by the small loan facility to the small business as start-up money during the Bangladesh famine in 1947. According to Sina, Sabur and Kamruzzaman (2017), Yunus belief that providing credit facility to the poor could help in reduction of widespread poverty in entire Bangladesh. Yunus initiated the idea of Grameen bank. Grameen is a Bengali word for the rural or village bank. He began to introduce the Grameen Bank project amongst the University of Chittagong student to test his method for testing his method for making credit facility available for the rural and poor public.
History of Grameen Bank
The idea of Grameen bank was proposed by Muhammad Yunus, who was a Professor at the University of Chittagong. As commented by Hasan et al. (2019), Grameen bank was introduced for the poor section of the society to remove poverty from Bangladesh. In 1976, the village of Jobra and nearby villages, which were close to University, became the first beneficiaries to the facility of Grameen Bank. After being successful, the Grameen Bank expanded its operations to other districts of Bangladesh. On 2nd October 1983, it was established as an independent bank.
Until 2017, the Bank had about 2,600 branches and nine million borrowers, with repayment rates of 99.6% and out of such beneficiaries, 97% of the borrower were women. The Grameen Bank now covers most of the parts of the country and as time passed by, the Grameen Bank...