Monday, January 24, 2011
Bangladesh probes bank founded by microfinance icon
Grameen Bank whose microfinance model was hailed revolutionary and replicated worldwide. The investigation comes as other governments are scrutinizing the microcredit industry following reports of wildcat loans, sky-high interest rates and coercive debt collection sinking borrowers - many of them women into financial debt. As criticsms arise, is microfinance a viable future model for sustainable development? View this story in detail.