Grameen Bank

Grameen Bank is a microfinance, specialized community development bank founded in Bangladesh that provides small loans, known as microcredit, to the impoverished without requiring collateral. It is a statutory public authority that originated in 1976 in the work of Muhammad Yunus, a professor at the University of Chittagong, and was authorized by national legislation to operate as an independent bank in October 1983. In 2006, the bank and Yunus were jointly awarded the Nobel Peace Prize, and the bank's model has inspired similar projects in more than 64 countries. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/