Talent Competitiveness: Bangladesh in bottom 10

[Bilal9]

Lending small loans existed in every part of the world in some form. What makes Yunus and his Grameen Bank special is the way they lend their loans. They don't lend money for ordinary purposes i.e buying groceries or wedding costs, like what the mohajons do. Their loans are rather investments on small rural startups where the borrowers are expected to earn enough profits to pay their debts. What's more, they also provide the necessary training and knowledge to the borrowers on entrepreneurship and the profitable sectors where they can work on.

Yunus' concept of microcredit and social business has been successfully applied by other organizations as well, most notably BRAC of Dr. Abed, which is now the largest NGO in the world in terms of number of people outreached.

Bangladesh's innovations on social development are actually recognized and acclaimed worldwide which makes the country one of the centerpieces of modern development studies. How do you think Bangladesh has progressed so much on different human development indicators despite the perennial poor governance?

Being a devil's advocate is a good thing but you sometimes go too far to the point of only gibbering nonsense.

Also - the way they collect loan returns is unique, in that a group of people (peers in the loan group) guarantee collateral so payback rates are super high and then payback is reinvested back into other bank-recommended ventures. Era Grameen Bank operations er kisui janena.

Women are a very high portion of the borrowers and are the ones made independent by this process. This has zero to do with traditional lending with Mahajans and such.

Unfortunately replicating Microfinance across the world hasn't been a runaway success. Even in India where Grameen introduced it in the early 2000's - payback rates have been bad, and their state govts. had stupid attempt to regulate it, resulting in mostly failure.

https://www.economist.com/finance-and-economics/2013/01/12/road-to-redemption

I can't believe these two had the gall to actually berate Dr. Yunus after all he had done for our country (calling him a Jew which is an attempt to insult the Jewish as a people AND Dr. Yunus!). Ultimate Irony coming from a SUPPOSED Bengali's mouth!

 

[Nilgiri]

Yunus use this polished word to make his Mohajani business make more acceptable. He is a Jew of BD who takes away the properties of the poor if the money is not returned with interest.

What's this all about? Can you give examples? I have heard BD ppl only ever talk favourably about Dr Yunus work.

I can't believe these two

How did I berate him? mr claims to have us all on "ignore" @Mage

I specifically said, not taking anything away from Mr. Yunus....yet you keep showing your abject illiteracy....no wonder the typical income predicament of BD ppl in US.

 

[Mage]

How did I berate him? mr claims to have us all on "ignore" @Mage

I specifically said, not taking anything away from Mr. Yunus....yet you keep showing your abject illiteracy....no wonder the typical income predicament of BD ppl in US.

Leave him be. He tends to make outrageous claims. Not as outrageous as UKBengali though.

 

[Species]

Also - the way they collect loan returns is unique, in that a group of people (peers in the loan group) guarantee collateral so payback rates are super high and then payback is reinvested back into other bank-recommended ventures. Era Grameen Bank operations er kisui janena.

Women are a very high portion of the borrowers and are the ones made independent by this process. This has zero to do with traditional lending with Mahajans and such.

Unfortunately replicating Microfinance across the world hasn't been a runaway success. Even in India where Grameen introduced it in the early 2000's - payback rates have been bad, and their state govts. had stupid attempt to regulate it, resulting in mostly failure.

https://www.economist.com/finance-and-economics/2013/01/12/road-to-redemption

I can't believe these two had the gall to actually berate Dr. Yunus after all he had done for our country (calling him a Jew which is an attempt to insult the Jewish as a people AND Dr. Yunus!). Ultimate Irony coming from a SUPPOSED Bengali's mouth!

The reason behind the failure was a lack of uniform approach, as you said, India attempted to regulate it, in other words they wanted to have it in their own way which, not surprisingly, resulted in failure.

On the other hand, if you take a look at the operations of BRAC they are actually quite successful outside Bangladesh as well. That's because their operations are all under a uniform methodology within BRAC.

 

[Bilal9]

The reason behind the failure was a lack of uniform approach, as you said, India attempted to regulate it, in other words they wanted to have it in their own way which, not surprisingly, resulted in failure.

On the other hand, if you take a look at the operations of BRAC they are actually quite successful outside Bangladesh as well. That's because their operations are all under a uniform methodology within BRAC.

Yup you are right on all counts especially BRAC. By the way BRAC has been the number one global NGO since 2017.

 

[Rafi]

Reading a lot of Bangladeshi posts, seems like majority suffer from some sort of inferiority complex regarding Pakistan, its one way hostility, in point of fact, Pakistanis never talk about Bangladesh or concerned about it.

 

[Bilal9]

Reading a lot of Bangladeshi posts, seems like majority suffer from some sort of inferiority complex regarding Pakistan, its one way hostility, in point of fact, Pakistanis never talk about Bangladesh or concerned about it.

If I may say so - you may be way off the mark.

Most Pakistani and Bangladeshis in real life (that I know of) have enormous amount of respect for their respective countries. Don't take everything at face value and model opinions by looking at PDF. I know several families that have members spread in both countries and also in the US. We have shared common celebrations of Eids, Iftars at Ramadan time, Shab-E-Barat, Eid-e-Miladunnabi etc. All this Pakistani-Bangladeshi hatred has been 'manufactured' by interested parties, viz. RSS and Hindutva outfits.

In PDF there are too many false flaggers, and the negativity may be coming from,

1. Hindutva Indians trying to spread misinformation and hate for Pakistan posing as Bangladeshis (majority situation). I'd make a guess that quite a few Bangladeshi posters are false-flaggers because in the past I have posed questions in Bengali and they could not answer.

2. Some Bangladeshis (of whatever background) who had family members lost at the hands of Pakistani troops in 1971. This hostility is understandable.

Between Pakistan and Bangladesh (PDF and Indian trollers' comments to the contrary) there is many more commonality between our cultures than not, more than that between that of Indian culture and our own. I visit Pakistan every couple of years - so you can take my word for it.

In religious arena, our culture is almost identical to Pakistan's. Except the fanaticism level in some cases. Bangladeshi are not Shia, majority Sufi adherents and are far more pacifist, cynical and abhorrent of organized jihadi sentiments. Kind of similar to Malaysian or Indonesian Islam.

In social arena, our common Bengali culture remains, which is distinct from Pakistan's culture (which is a melange of North Indian cultures and Middle Eastern/Arab influence). Like any other large group - our culture has borrowed components (from Islamic elements) as well as indigenous ones formed by our ancient Buddhist heritage.

And lastly - I see no inferiority complex. Our economy and stage of development is certainly no worse than that of Pakistan.

To recap - the hatred for Pakistan is coming from 'posers', not real Bangladeshis. Promoting this hate helps certain quarters in India.

I have discussed this with the mods here many times in the past - there needs to be a way to 'certify' any new account (to a specific flag) by way of language proficiency or culture etc.

False-flagging is rampant in this forum.

 

[Nilgiri]

Our economy and stage of development is certainly no worse than that of Pakistan.

@Rafi whenever they start braying this.....just show them this:

https://data.worldbank.org/indicator/EG.USE.PCAP.KG.OE?locations=BD-PK

@Major Sam @CHACHA"G"

 

[bluesky]

Lending small loans existed in every part of the world in some form. What makes Yunus and his Grameen Bank special is the way they lend their loans. They don't lend money for ordinary purposes i.e buying groceries or wedding costs, like what the mohajons do. Their loans are rather investments on small rural startups where the borrowers are expected to earn enough profits to pay their debts. What's more, they also provide the necessary training and knowledge to the borrowers on entrepreneurship and the profitable sectors where they can work on.

@TopCat and @Billal9 think Yunus is the inventor of microfinance which is not correct. However, I agree with your statement in the bold above that Grameen has/had a different approach than just a lending agency. It trains the borrowers before extending loans and this part can be defined as Social Business.

However, Grameen remains very strict when a borrower does not pay the money back. It takes Court order to evict the borrower from his/her house taken as collateral. It may also be a land property. This is something that can be defined as Mohajani Usury business. Grameen interest rate is higher even than the Bank rate, as well.

 

[Nilgiri]

Grameen remains very strict when a borrower does not pay the money back.

It has to be to make the system work. Otherwise it would neither have the scale to operate, neither the credibility.

BTW out of interest, do you know what this default rate looks like for Grameen?

It takes Court order to evict the borrower from his/her house taken as collateral. It may also be a land property.

That's the whole point of collateral though. It may sound harsh, but without enforcing solvency to the 100% of the system (or as close as you can get it)...there would be no system at all.

Grameen interest rate is higher even than the Bank rate, as well.

Not surprising given the much smaller scale of the loan and thus far greater transaction frequency/velocity per Taka loaned. This means it would not have the economy of scale like a bank loan typically does (which lends at much larger amounts to begin with on average)...thus it has to charge higher interest to make it viable (to reach many hands that would not qualify for such large bank loans). Remember the base of these loans is also quite much smaller, so the interest amounts are not all that huge per se compared to what banks take (on much bigger loan base so the % interest comes out to less). They can't really be compared in apples to apples way.