The Grameen Bank is a microfinance organization and community development bank started in Bangladesh that makes small loans (known as microcredit or "grameencredit") to the impoverished without requiring collateral. The name Grameen is derived from the word gram which means "rural" or "village" in the Bengali language. The system of this bank is based on the idea that the poor have skills that are under-utilized. A group-based credit approach is applied which utilizes the peer-pressure within the group to ensure the borrowers follow through and use caution in conducting their financial affairs with strict discipline, ensuring repayment eventually and allowing the borrowers to develop good credit standing. The bank also accepts deposits, provides other services, and runs several development-oriented businesses including fabric, telephone and energy companies. Another distinctive feature of the bank's credit program is that the overwhelming majority (98%) of its borrowers are women. (via Wikipedia)

I love the story. I think Yunus is a pioneer and lead a growing movement of for profit organizations with a social mission. I liked the flow of the book as it describes how he founded the organization including struggles and accomplishments. I greatly admire Yunus for asking all the wrong questions and for seeing the bank to where it is today. His accomplishments are succeeded only by his other accomplishments.

Yunus and his volunteers worked tirelessly as volunteers for the World's poor. He saw a need and filled it through an enormously successful model for funding and credit. He made the organization serve more people. He took down politicians and the traditional banking structure. He gave poor people money without any collateral and allowed millions of people to escape the high interest loans from loan sharks. And to top it all off-- people are repaying their loans! 98% repayment! He is a HERO!

Wahoo. Forgive me if I don't jump up and down.

When I heard about this book, I was warned that many people felt like it was unrealistic. I have to agree. Is this book real? I'm sure everything is factual, or at least nearly so. Factual or not, I feel like the book is just a collection of action words that are obscuring what I think is a really cool idea. Even the call to action at the end did little to motivate me. It certainly sparked a few ideas in my head, but at the end I was sick of hearing him preach about how much he's accomplished.

I would encourage anyone who is interested in non-profits, entrepreneurship, or social justice to read it at least once. My opinion may change over the next few months as I read the book again and discuss it in class. I kind of hope my opinion does change after further discussion and reading.

Banker to the Poor was my first Audible audiobook download. I really enjoyed the format and look forward to listening to books in the future.