Word: bankes
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...think it is ethical to charge the poor interest and make a profit out of it? -Hasan Iqbal, Sundsvall, Sweden In Bangladesh, Grameen Bank charges the lowest rate among all microcredit programs, and yes, we make a profit. But Grameen Bank is owned by the borrowers, so when we make a profit it goes back to the borrowers as dividends...
...Have you ever found an incident of corruption involving a Grameen Bank loan? Rudi Toruan, Samarinda, Indonesia We have cases of corruption, but Grameen Bank now has 28,000 staff, 8 million borrowers and 2,600 branches. We lend out over $100 million each month and have a similar amount coming back each month, handling this physically in the villages. It's very easy to put money in your pocket. But the amazing thing is that cases of corruption are so rare...
...estimated 300,000 study abroad every year. Approximately 206 million Chinese children attend primary and secondary schools. Basic literacy is almost universal in China today, while it was roughly 20% in 1949. Still, China remains a poor country by global standards: some 207 million people still live below World Bank poverty levels on less than...
...Some of the answers are technical. Regulatory oversight, almost everyone agrees, needs to be beefed up. There's also an emerging consensus on the need for banks to hold more capital and for their appetite for risk to be curtailed. But bigger issues are at stake too, ones that are more political and philosophical in nature: Should any bank be too big to fail? What should be done with financial activities that seem purely speculative and of questionable social use? How can the short-term, get-rich-quick mentality that drove so much market activity before the crash - and inflated...
...None of this is simply academic theorizing. One year on, public fury about the massive banking bailouts continues to drive calls for greater oversight and regulation. Much of the outrage is directed at bankers who earned huge bonuses by taking outsized risks with complex financial instruments, only to walk away scot-free when their bets went awry, plunging the world into crisis. Bonuses are just one aspect of the larger issue of moral hazard that has been raised over the past year, as governments and central banks have spent tens of billions of dollars of taxpayers' money to rescue financial...