Acta Scientific Computer Sciences

Review Article Volume 4 Issue 10

Case Studies: Microfinance is a Concept of Building a Balanced Social Economy

Gazi Farok*

Toronto Metropolitan University and York University, Toronto, Canada

*Corresponding Author: Gazi Farok, Toronto Metropolitan University and York University, Toronto, Canada.

Received: July 18, 2022; Published: September 10, 2022

Abstract

Microfinance is used to offer key financial services to some of the world’s poorest and mostly of vulnerable community people. Thousands of women and men are not viewed as valuable clients by traditional banks but they feel lack access to services. Muhammad Yunus is a Bangladeshi social entrepreneur. He is the pioneer of the concepts of microcredit and microfinance. ‘Elevator Pitch’ idea says that Muhammad Yunus established the Grameen Bank (GB) in Bangladesh in 1983 with anti-poverty concepts and he accelerated his belief that credit is a fundamental human right.


Keywords: Microfinance; Bank; Clients; Services; Economy

References

  1. "Yunus wins peace Nobel for anti-poverty efforts". Associated Press (2006).
  2. "Profile: Muhammad Yunus, 'world's banker to the poor'”. BBC News (2011).
  3. Yunus Muhammad and Jolis Alan. “Banker to the Poor: micro-lending and the battle against world poverty”. New York: Public Affairs hc. (2003): 46-49.
  4. Yunus Muhammad. “Ramon Magsaysay Award Foundation” (2016).
  5. "About Grameen phone". Grameen phone, (16 November 2006), Grameen phone is now the leading telecommunications service provider in the country with more than 10 million subscribers.
  6. Farid Ahmed. "Bangladeshi Nobel laureate faces fresh legal trouble at home". CNN (2011).
  7. Yunus Muhammad. "World in Focus: Interview with Prof. Muhammad Yunus". Foreign Correspondent; ABC online (Transcript of broadcast interview). Interviewed by Negus, George (1997).
  8. Muhammad Yunus. “Ashoka's Global Academy Member, Wins Nobel Peace Prize”. Ashoka.org. (2006).
  9. Posman Jerald. "In thrall to an agent of change". The Daily Star (2008).
  10. Clinton Bill. “My Life: The Presidential Years”. New York: Vintage Books (2004): 329.
  11. Byrne John A. "The 12 greatest entrepreneurs of our time". Fortune (2012).
  12. Sheldon Blaine. "The Wisdom of the Smart Crowd". Foreign Policy (2009).
  13. Ahmed Farid. "Nobel-winning microcredit bank comes under scrutiny". CNN (2011).
  14. Polgreen Lydia. "Bangladesh Inspects Grameen Bank and Muhammad Yunus". The New York Times (2011).
  15. "Bangladesh Trying To Fire Muhammad Yunus, Nobel Laureate, From Microlender Grameen”. HuffPost (2011).
  16. Kashyap Arjun. "SKS IPO Opens Today, Reactions Mixed". Microfinance Insights. Archived from the original on 31 July 2010 (2010).
  17. Epstein Keith. "Compartamos: From Nonprofit to Profit". Bloomberg Business Week (2007).
  18. Bahree Megha. "A Big Split Over Microfinance". Forbes (2010).
  19. https://www.jimcollins.com/concepts/the-hedgehog-concept.html
  20. https://www.charityintelligence.ca/charity-details/616-finca-canada
  21. Canada Helps, Why donate to FINCA Canada on Canada Helps? FINCA Canada, Registered Name: FINCA Canada, Business No: 805686144RR0001 (2021).
  22. David McCan. CFO, “FINCA’s Journey from Non-Profit to For-Profit” (2018).
  23. The Ministry of International Development, Report to Parliament on the Government of Canada's International Assistance 2019-2020 (2021).
  24. CRA Charities Directorate, Accountable Impact, Charities impact is trusted by Canadians giving to charity (2018).
  25. “FINCA International, Success Story, Bright Life Solves a COVID-19 Catch-22”. FINCA News, Fall 2020, 31.2 (2021).

Citation

Citation: Gazi Farok. “Case Studies: Microfinance is a Concept of Building a Balanced Social Economy". Acta Scientific Computer Sciences 4.10 (2022): 18-23.

Copyright

Copyright: © 2022 Gazi Farok. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.




Metrics

Acceptance rate35%
Acceptance to publication20-30 days

Indexed In




News and Events


  • Certification for Review
    Acta Scientific certifies the Editors/reviewers for their review done towards the assigned articles of the respective journals.
  • Submission Timeline for Upcoming Issue
    The last date for submission of articles for regular Issues is June 25, 2024.
  • Publication Certificate
    Authors will be issued a "Publication Certificate" as a mark of appreciation for publishing their work.
  • Best Article of the Issue
    The Editors will elect one Best Article after each issue release. The authors of this article will be provided with a certificate of "Best Article of the Issue"
  • Welcoming Article Submission
    Acta Scientific delightfully welcomes active researchers for submission of articles towards the upcoming issue of respective journals.

Contact US