Higgly Posted October 13, 2006 Report Posted October 13, 2006 Muhammad Yunus and the bank he founded in Bangladesh, the Grameen Bank, have won the Nobel prize! This is a bank which made micro-loans to the poorest of the poor. A loan of $US 20 would not be out of the ordinary for the Grameen, which routinely lent money to start small businesses, improve village life, pay for educations, and generally improve the lot of Bangladeshis. The Grameen trusted the its clients to be good for their word and it has reaped great rewards for Bangladesh. The Grameen Bank is essentially bootstrapping one of the poorest economies in the world. The international aid community has been buzzing about the Grameen for over 10 years, and finally it has been given its due. This is a great day for the world. You can google the world Grameen and fill yourself in. Muhammad Yunus is a Moslem. Quote "We have seen the enemy and he is us!". Pogo (Walt Kelly).
M.Dancer Posted October 13, 2006 Report Posted October 13, 2006 Muhammad Yunus and the bank he founded in Bangladesh, the Grameen Bank, have won the Nobel prize! This is a bank which made micro-loans to the poorest of the poor. A loan of $US 20 would not be out of the ordinary for the Grameen, which routinely lent money to start small businesses, improve village life, pay for educations, and generally improve the lot of Bangladeshis. The Grameen trusted the its clients to be good for their word and it has reaped great rewards for Bangladesh. The Grameen Bank is essentially bootstrapping one of the poorest economies in the world.The international aid community has been buzzing about the Grameen for over 10 years, and finally it has been given its due. This is a great day for the world. You can google the world Grameen and fill yourself in. Muhammad Yunus is a Moslem. I wonder if he follows Islamic law concerning loans......? Some have speculated (intentional pun) that it is the islamic law concerning loans that stifles economic growth in the Muslim world. Quote RIGHT of SOME, LEFT of OTHERS If it is a choice between them and us, I choose us
Higgly Posted October 13, 2006 Author Report Posted October 13, 2006 Yes they do charge interest. Good point. Would be interesting to hear a panel of Mullahs weigh in on this. Nobody seems to have issued a Fatwah yet. Maybe like Catholics and birth control? Here's a Link Quote "We have seen the enemy and he is us!". Pogo (Walt Kelly).
M.Dancer Posted October 13, 2006 Report Posted October 13, 2006 Islamic Loans.......I wonder if Habitat for Humanity has considered it? At the same time, between the bank and the purchaser, the bank sells the property to the customer at a selling price which comprises the bank's purchase price and a predetermined profit margin. The agreement is usually called the property sale agreement. Since Islamic financing entails a predetermined profit to be made by the bank, a customer will never have to worry about a sudden hike or changes in the interest rates. Right from the onset, he will know the total amount which he has to pay to the bank. His monthly instalment of the bank's selling price will not change throughout the tenure of the financing. http://www.hba.org.my/articles/law&rea...onventional.htm Quote RIGHT of SOME, LEFT of OTHERS If it is a choice between them and us, I choose us
Higgly Posted October 13, 2006 Author Report Posted October 13, 2006 Yeah. That is a good point, Dancer. Would sure be a great linkage. Quote "We have seen the enemy and he is us!". Pogo (Walt Kelly).
jbg Posted October 14, 2006 Report Posted October 14, 2006 It is a constructive activity that will help build Bangladeshi commerce. Well-selected prize. And yes, I do applaud constructive Muslim activity. Quote Free speech: "You can say what you want, but I don't have to lend you my megaphone." Always remember that when you are in the right you can afford to keep your temper, and when you are in the wrong you cannot afford to lose it. - J.J. Reynolds. Will the steps anyone is proposing to fight "climate change" reduce a single temperature, by a single degree, at a single location? The mantra of "world opinion" or the views of the "international community" betrays flabby and weak reasoning (link).
TravellingTimeMachineSalesman Posted November 9, 2006 Report Posted November 9, 2006 It is a constructive activity that will help build Bangladeshi commerce. Well-selected prize. And yes, I do applaud constructive Muslim activity. Muhammed Yunis should be appointed the official head of an international "Poverty Allivation Committee" to lift millions from poverty, exploitation and human misery! Quote
Higgly Posted November 10, 2006 Author Report Posted November 10, 2006 It is a constructive activity that will help build Bangladeshi commerce. Well-selected prize. And yes, I do applaud constructive Muslim activity. Goody, goody for you. Quote "We have seen the enemy and he is us!". Pogo (Walt Kelly).
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