Professor Muhammad Yunus, known as the father of microcredit loans, developed the Grameen Bank, which became a fully licensed bank owned by its borrowers, mainly poor women. The bank's success has changed the lives of 7.5 million borrowers and their families worldwide. Yunus introduced Grameen America in New York, providing loans to women for small business ideas. The Bangladeshi model was replicated, with each group of five becoming its own loan committee, making weekly payments and contributions to a savings account. The Jackson Heights branch grew to loan over $1.5 million to 550 women in one year, with plans to open more branches in the US.
To Catch a Dollar: Muhammad Yunus Banks on America
A renowned economist devotes his life to uplifting impoverished communities, initially in Bangladesh and now in Queens, New York, with a focus on empowering women to achieve their goals and fulfill their American Dream.
