Word: grameen
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...trouble than unexpected tax increases. Operators were forced to subsidize a 2005 levy imposed on the sale of SIM cards in Bangladesh, for instance. And in Grameenphone's case, work with its local partner hasn't always been straightforward for Telenor. The Norwegian firm owns 62% of Grameenphone, with Grameen Telecom - part of the bank founded by Bangladeshi Nobel Peace Prize winner Muhammad Yunus - owning the rest. Yunus claims the Norwegians reneged on a deal to cede majority control a few years back. Telenor maintains no such agreement ever existed...
...sound far-fetched, but Yunus offers up a real-world example: a partnership between the French foods giant Danone and Yunus' Grameen Group to sell nutrient-enriched yogurt to poor children in Bangladesh. He calls it the "world's very first consciously designed multinational social business"?a company that doesn't insist on an ongoing return to shareholders. Whether there's enough motivation in boardrooms to make the idea grow is a big question, but there are some 100 million microborrowers around the world. So it's a nice client base...
...Clans also prevent fresh political groups from emerging - far more important in developing nations than in stable, two-party political systems. In Bangladesh, Sheik Hasina Wazed and her chief rival, Khaleda Zia, both of whom hail from political dynasties, have swatted down past attempts to form new parties. When Grameen Bank founder Muhammad Yunus tried to launch a party earlier this year, many Bangladeshi politicians, including those from Hasina's party, quickly attacked...
Responding to a question about further expansion of the bank, Yunus noted that 85 percent of the 120 million people with access to microloans are located in Asia. Yunus pointed to other nations where Grameen and its partners are expanding their reach, such as Argentina and Turkey...
...Grameen Bank also provides nearly 50,000 scholarships to students from high school through graduate school...