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এপ্রিলফুল এর ইতিহাস বড়ই বেদনা দায়ক।

এপ্রিলফুল এর ইতিহাস বড়ই বেদনা দায়ক। এখন থেকে প্রায় 500 বছর আগে স্পেন ছিল মুসলিমদের দেশ। এই দেশটি মুসলিমদের নিয়ন্ত্রনে ছিল প্রায় আট শত বছর। ক্রসেড-রা দীর্ঘ দিন ধরে স্পেনকে নিজেদের দখলের নেওয়ার চেষ্টা করছিল। এজন্য তারা ধম যুদ্ধের নামে বিভিন্ন সময় স্পেনে আক্রমন করত। কিন্তু স্পেনের মুসলিমদের সাথে যুদ্ধ করে তারা বরা্বই পরাজিত হত। মুসলিমরা এই দেশটাকে এতটাই আধুনিক ভাবে সাজিযে ছিল যা ছিল সত্যিই অস...াধারন। আজও স্পেনের সেই শহরগুলো এক একটি অপূর্ব ঐতিহাসিক নিদশন। যাহা মানুষকে এখনও মুগ্ধ করে। মুসলিমরা ভালই ছিল স্পেনে। কিন্তু একটা পর্য়ায়ে মুসলিমরা ইসলামে হতে দুরে সরে যেতে লাগল। তার ইসলাম প্রচার প্রসার ও ইসলাম পালনের প্রতি অনিহা বাড়তে লাগল এবং তারা দুনিয়ামুখি হযে গেল। এবং এক পয়ায়ে মুসলিমদের ইমানের অবস্থা খুবই শোচনীয় হয়ে পড়ল। ঠিক এমন এক সময় খ্রিষ্টানরা মুসলিমদের উপর আবারও আক্রমন করল। যদিও কিছুম মুসলিম বীর ও তাদের সাথিরা চরম ভাবে আক্রমনকে প্রতিহত করল এবং ক্রসেড বাহিনীকে প্রায় পরাজিত করে ফেলেছিল। কিন্তু শেষ রক্ষা আর হলো না। এক্ষেত্রে খ্রিষ্টানরা(ক্রসেড) মিথ্যা কৈাশল অবলম্বন করল। তারা প্রচার করতে লাগল যে স্পেইন এখন তাদের দখলে। এবং তারা ঘোষনা দিয়ে দিল। যে সকল মুসলিমরা মিসজিদে আশ্রয় নিবে এবং সমুদ্র গামী জাহাজে আশ্রয় নিবে তারা নিরাপদ। দূবল ইমানের মুসলিমরা শত্রুদের কথা মতো কাজ করল। তারা মসজিদ ও জাহাজে আশ্রয় নিল। পরে ক্রসেড বাহিনী সকল মসজিদকে তালা বদ্ধ করল, এই বলে যতে মুসলিমরা নিরাপদে থাকে। পরে তারা সকল মসজিদ গুলোতে আগুন ধরি্য়ে মুসলিমদের পুড়িয়ে হত্যা করল। আর জাহাজ গুলোকে তার ডুবিয়ে দিল। এভাবে স্পেন থেকে মুসলিমদের পরাজিত করল। এবং সেখানে এমন একজন মুসলিমও ছিল না যে কিনা আজান দিবে। বিগত 500 বছর স্পেনে কোন আজান হয়নি।মাত্র বছর 2 আগে আজানের অনুমতি দেওয়া হয়েছে। আর এভাবে এপ্রিল মাসে মুসলিমদের বোকা বানিয়ে পরাজিত করেছিল। মুসলিমদের এই পরাজয়কে স্বরন করে খ্রিষ্টানরা এপ্রিল ফুল পালন করে থাকে। আর আমরা মুসলিমরা এখনও বোকার মত এপ্রিল ফুল পালন করে নিজেদেরকে আরো বোকা হিসাবে পরিচয় দিয়ে থাকি।

Micro-Credit Disbursement: A Study on Grameen Bank









Chapter One
Introduction




1.1 Introduction
Bangladesh is a rural country and most of the people live in village. Maximum people of Bangladesh is landless and asset less. My study is in the field of Grameen Bank with reference Ashulia district Pathalia branch.The economic development of Bangladesh depends on rural development. So, my study is very important is this context. Grameen Bank (GB) has reversed conventional banking practice by removing the need for collateral and created a banking system based on mutual trust, accountability, participation and creativity. GB provides credit to the poorest of the poor in rural Bangladesh, without any collateral. At GB, credit is a cost effective weapon to fight poverty and it serves as a catalyst in the over all development of socio-economic conditions of the poor who have been kept outside the banking orbit on the ground that they are poor and hence not bankable. Professor Muhammad Yunus, the founder of “Grameen Bank” reasoned that if financial resources can be made available to the poor people on terms and conditions that are appropriate and reasonable, “these millions of small people with their millions of small pursuits can add up to create the biggest development wonder.”
As of December, 2017, it has 8.93 million borrowers, 97 percent of whom are women. With 2,568 branches, GB provides services in 81,400 villages, covering more than 97 percent of the total villages in Bangladesh.
Grameen Bank’s positive impact on its poor and formerly poor borrowers has been documented in many independent studies carried out by external agencies including the World Bank, the International Food Research Policy Institute (IFPRI) and the Bangladesh Institute of Development Studies (BIDS).
1.2 Origin of the Report
Project is a mandatory program for all students of MBA under Prime University. Practical orientation is positive development in professional area. For the completion of this project program, I have chosen a bank named “Grameen Bank" and my project report is based on. I have prepared this report under Fahimul Kader Siddique, Lecturer, Department of Business Administration. In the study period mainly student’s gain theoretical knowledge but now a day, in the job market there is no substitute of practical work experience. Therefore, before entering into job, students should have some real work experience in the major field of study on the career choice that interest.

1.3 Scope of the Study
Bank has multidimensional economies activities and services. this reports provide a great opportunity to have an in depth knowledge of majority of the banking activities practiced by the Grameen Bank. The study is focused on the following areas of the Grameen Bank.

v  This Report will identify the relationship of Grameen Bank with poor people as a borrower organization.
v  Identify the micro finance system that helps & useful for the poor people.
v  Study on personal development by using Grameen Bank services as a member.
v  Study on social development by Grameen social business.
v  Broadly discuss about the procedure of Grameen Bank loan system.
v  This Report will find out the effectiveness of the bank services.
v  The scope of this study was confined to the Grameen Bank head office, branch office & personal contact with the employees of Grameen Bank.

1.4 Purpose and Objectives of the Study
Theoretical knowledge is acquired for the purpose of applying is the practical life. Different importance of project training programs are-
Ø  It gives the opportunity to know about the present situation of the institution.
Ø  Review the advancement of the institutions,
Ø  It plays as important rile for the students of Business Studies and also to copulate their theoretical studies such s student may be service holder or Business person in future.
Ø  To enact different policies for the overall development of the institutions.
Ø  Provides the guide about which type of which kind of administrative skill is necessary to conduct the institution.
Ø  Real experience can be gained can be gained through practical one.
Ø  Whether the Grameen Bank is loyal to interpret loan system properly, Collection and disbursement policy are reasonable.
Ø  Weather Grameen Bank does his work with transparence management system. To justification of the methods to reducing poverty.
Ø  Weather Grameen Bank creates awareness “Sixteen Decision” in the borrower mind.
Ø  To measure the status of empowerment of rural women (both member and non-member of the Micro Credit Organization) in the selected areas.
Ø  To assess the role of the Micro Credit Organization in empowering rural pupil in Bangladesh.
Ø  To know how well the ranking procedure is maintained.

1.5 Methodology of the Study
1.5.1 Sources of Data:
Both primary and secondary data are used to prepare this report. The collection of these two types of data is shown respectively.
Collection of Primary Data:
Primary Data are mainly collected from the practical experience and queries firm the employees as well as the member of Grameen Bank. Thus, the primary data such as information regarding the overview of GB, interest rates and charges, credit operation performance measurement in lending, credit policies, loan agreement etc. were collected.
Collection of Secondary Data:
Data regarding the credit operation and others of the GB were collected from secondary sources like: Annual Report, Manual and Publications of GB, Grameen Bank Library, Internet, Newspaper and Brochures etc. were the main sources of Secondary data.

1.6 Research Design
Both qualitative and quantitative methods were applied for preparing this report. The data were analyzed and presented by Microsoft excel and shows percentage, graphical presentation and different types of charts. Best effort was given to analyze the numerical findings.
1.7 Limitation of the Study
*      Time limitation:  It was really very short time to know about an organization like Grameen Bank.
*      Inadequate Data: The unwillingness of the busy key persons, necessary data collection became hard.
*      Lack of Record: Large scale research was not possible due to constrains and restrictions posed by the organization. Unavailability of sufficient written documents as required making a comprehensive study. In many cases up to date information was not available.
*      Lack of Experiences: Lack experiences have acted as constraints in the way of meticulous exploration of the topic. Being the temporary member of the organization, it is not possible on my part to express some of the sensitive issues.










Chapter Two
Theoretical Framework




2.1 Loan Proposal Making& Approval Process and Loan Disbursement System
For being a Member of the bank does not give any guarantee to get loan. To get loan from Grameen Bank starts with a live and interactive loan proposal making and disbursement process. Generally loan proposal making and disbursement process follow the following steps:
Ø  The member who wants to borrow money, he/she has to confident on his/her investment personally. Then he/she has to inform his/her family members about the investment.
Ø  Then he/she verbally discuss with his/her group members about the projected investment. Group members input their thoughtful comments on it and applicant member try to fix the amount of the loan. After the discussion, applicant member request his/her group chairman/secretary to propose this loan to the bank verbally through center chief.
Ø  During the center meeting, center chief formally raise the issue of loan proposal after daily loan and savings collection. Center chief propose verbally to the center manager for loan on behalf of applicant member.
Ø  Then the center manager takes an interview of the loan applicant member and discusses with the center members. In this discussion the center manger will confirm about the purpose of the loan, eligibility of the applicant member to maintain the loan, risk & return on the investment, possible amount of investment with source and amount of the loan, loan installment amount & repayment system. If the loan is larger amount then it goes for Microenterprise loan under Special Investment Project. Then the center manager will ask for center regulation with at least 60% members’ signature.
Ø  If center manager find all indicators positive then he/she ask center chief to propose this loan in written form which is known as “Rough Loan Proposal Form In Center”Form No-78 (Rough loan proposal). On behalf of the members the center manager fills up all columns and takes signatures of loan applicant member and center chief in the mentioned column and ask loan applicant member to deposit loan insurance savings in his/her personal savings account on the same day.
Ø  If center manager does not find the indicators right then he/she identify the weakness of the proposal and ask the applicant member as well as the center members to correct it more realistic way and propose in next center meeting.
Ø  The Center manager collects the passbook of loan applicant member along with Form No-78, visits the applicant member’s house and project in person.
Ø  By this way the center manager collects loan proposal round the week from different centers. End of the week he/she compile all centers loan proposal in a different form which is known as “Loan Proposal, Loan ceiling and Loan Approval Form”Form No-2(KA)/(GA) and full fill all columns properly except Approved loan amount column & sign in mentioned given place. Then this Form No-2(KA)/(GA) along with From No-78, Center regulation (if necessary) and Passbook submit for Branch manager’s recommendation.
Ø  Then the Branch manager asks to the second signatory to check all columns and papers accordingly and signed in given column and place.
Ø  After this, the Branch manager checks all columns, related papers & documents again carefully, sign in mentioned column & place and visit loan applicant member’s house & loan project in person sampling base for justification of loan. If branch manager does not find the indicators right then he/she identify the weakness of the proposal and ask center manager, applicant member as well as the center members to correct it more realistic way and propose in next center meeting.
Ø  If everything in the right way, then Branch manager send all documents to the Area office with a forwarding letter to approve the loan proposals once or twice a week.
Ø  At Area office, Program officer check all documents with Data management center and make a list of loan applicant members & amount of loan for loan approval by concern authority. Then Program officer inputs his/her recommendation & sign and submit to Area Manager.
Ø  Area Manager checks all documents once again and justifies loan proposals from grassroots by using different tools and techniques. Then he/she approve loan according to his/her power limit. After approval, area manager send back the documents to the branch office for loan disbursement according to rules and regulations of Loan disbursement system.If Area manager does not find the indicators right then he/she identify the weakness of the proposal and ask branch manager center manager, applicant member as well as the center members to correct it more realistic way and propose in next center meeting.
Ø  The loan proposals which above Area Manager’s power limit, those are sent to Zonal Office. Area Manager also input his/her recommendation with a forwarding letter when the loan proposals are sent to Zonal office.
Ø  In Zonal Office, monitoring & evaluation unit receives the loan proposals and checks all documents and input unit chief’s recommendation then submit to Zonal Manager for approval. Zonal Manager checks all documents once again and justifies loan proposals from grassroots by using different tools and techniques. Then Zonal manager approves loan according to power limit. After approval, Zonal manager send back the documents to the branch office through area office for disbursement according to rules and regulations of Loan disbursement system. If Zonal Manager does not find the indicators right then he/she identify the weakness of the proposal and ask Area Manager, branch manager and center manager to correct it more realistic way and propose in next center meeting.
Ø  The loan proposals which above Zonal Manager’s power limit, those are sent to Head Office. Zonal Manager also input his/her recommendation with a forwarding letter when the loan proposals are sent to Head office.
Ø  In Head Office, Coordination & Operation Department receives the loan proposals and checks all documents and input unit chief’s recommendation then submit to General Manager for approval.General Manager checks all documents once again and justifies loan proposals from grassroots by using different tools and techniques. Then General Manager approves loan proposal. After approval, Coordination & Operation Department send back the documents to the branch office through zonal office and area office for disbursement according to rules and regulations of Loan disbursement system.If GeneralManager does not find the indicators right then he/she identify the weakness of the proposal and ask responsible persons to correct it in more realistic way and propose in next time.
When the Branch office receives the approved loan proposal, then it (Branch office) take steps for loan disbursement. It starts with informing loan applicant member during the following center meetings. After center meeting loan applicant member come to the branch office along with required documents and witness. The witness should be either family member or one of the members from the respective center.Loan disbursement system is commonly known as loan disbursement ceremony. It also follows some steps:
Ø  After return from center meeting, center manager prepare prescribe form which known as “Disbursement Process on Micro-Credit of Gremeen Bank” ledger”Form No-3(GA) as per approved loan proposal. In the same form loan applicant member put his/her signature on given column and add revenue stamp on it.
Ø  Center manager set a loan repayment agreement on the same form in given columnaccording to rules of the bank, loan applicant member’s ability and wish. Then set loan installment (loan & interest) also in the same form different column.
Ø  Then two witnesses put their signature on given column in the same form.
Ø  Center manager write down loan disbursement history in the borrower’s passbook’s respective pages and columns according to loan disbursement ledger form.
Ø  The Center manager does the same entry in collection sheet also.
Ø  Then center manager prepare a transfer voucher for borrower’s loan insurance.
Ø  Then center manager collect exact disburse amount of money from second signatory (cashier) and prepare denote.
Ø  Then center manager ask borrowers to come at Branch Manager’s table and center manager bring all documents (approved loan proposal, loan disbursement ledger, borrower’s passbook, collection sheet, signature card/center attendance register, transfer voucher and denoted money) and witnesses to Branch Manager.
Ø  Then Branch Manager will take interview of loan applicant member and his/her family member (if present), ask witness about borrower’s loan related issues and check all documents to confirm all entry has been done properly in right place. Branch Manager also gives some thoughtful advice and suggestion to the members about loan utilization and repayment manner.
Ø  Then Branch Manager handed over money to loan applicant member and ask to count money for confirming disburse amount. By this way loan disbursement has been done.
2.2 Advantages of Grameen Bank
Ø  It’s a brand to all types of customers.
Ø  Principal Branch has some active and well-organized human resources who maintain the Daily activities more smoothly.
Ø  The Credit department now performs relatively better than previous as they have batter but precious information about this.
Ø  Credit department is also smooth in processing the necessary investment documents and in sanctioning credit/investment to the customers. 
Ø  It has a lot of clients and they are very faithful.
Ø  Principal branch has much space for performing banking activities and for relaxation of the customer.
Ø  They have proper management services for the customer.
Ø  Relationship among the employees is good in all cases.

2.3 Disadvantages of Grameen Bank
Ø  Loan transaction process is very lengthy.
Ø  Loan Amount is relatively narrow
Ø  CIB report is not available time to time from Bangladesh Bank.

2.4 Deposits /Savings Types
Grameen Bank offers 6 different types of Deposit or saving on different purposes pursue by the member of Grameen Bank.
                                   
Figure 02: Different types of Deposit or Saving Account.
1. The personal saving Account:
As part of joining program, every Grameen borrower has to open a savings/ deposit account. Usually borrowers Deposit savings every week with their installments; they get the option of whim-swing their savings anytime they want. This is the Basic Personal Savings account Grameen offers.  The depositors are offered around 8.5 percent interest on their savings per annum.
2. The Grameen Pension Scheme (OPS):
Grameen pension scheme (GPS) is another savings program specifically aimed for borrowers. It is monthly deposit scheme. The GPS is divided into two parts. One of the GPS schemes is offered for five years with a ten percent interest per annum while the other is a ten years scheme with a twelve percent interest per annum. The deposit program of the GPS is not flexible and the same amount of money has to be deposit every month. To use the money in a GPS account, depositor has the whole account.
3. The Fixed Deposit Savings Account:
The fixed Deposit savings program is open to all borrowers and non-borrowers. In a fixed deposit account, the deposits for one year are offered an8.75 percent interest rate two years is offered a 9.25 percent interest rate while a three years deposit is offered 9.5 percent interest.
4. The “double in seven years" Account:
The double in seven year program is also open to all and the deposit amount doubles in seven years, depositors en Wm my anytime.
5. The Monthly Profit Scheme:
The Monthly profit scheme program is offered to all and is mostly sought by people who tend to have extra money. The depositors have to keep the money with the bank for minimum five years and are offered fixed profit every month.
6.  The loan Insurance Account:
The last type of savings deposit offered is the Loan Insurance saving which was introduced by the bank as an insurance policy to write off loans in case a borrower dies.
2.5 Empowerment of Women
The empowerment of women is one of the central issues in the process of development of all developing countries in the world. Historically, women in Bangladesh are deprived socially and economically compared to men. Disparities between men and women prevails here in education, health, employment and income opportunities, control over assets, personal security and participation in the political process that make women disadvantaged and less empowered, which limits the country's ability to achieve its full potential.
It is well established that women have less access than men to investments in skills, knowledge and lifelong learning. The empowerment of women is an essential prerequisite for the exclusion of world poverty and the upholding of human rights. The World Bank study in Bangladesh highlights that women have limited role in household decision-making, limited access and control over household resources (physical and financial assets), low level of individual assets, heavy domestic workloads, restricted mobility and inadequate knowledge and skills that leading to women's vulnerability.




 2.6 Case Study
Jorimon
Jorimon was born in a very poor family in around 1952. Her father was very careless, capricious & did not bother about filial obligations. So her childhood was really a bad time & she was forced to marry a 22 years old man named Rustom when her age was 10 in 1962. Her husband was also a very poor man. His father died before their weeding & mother was a beggar. Rustom’s salary was tk15 per month including food & lodging. He got married with Jorimon in exchange for one years of salary. So later both of the husband & wife started to work as slave to their master.
Jorimon’s father lived in reserved area of forest department. When he died her mother asked them to live with them. As her husband has no house he was agreed & his previous master also has property there, so he easily got job there. It included three meals per day plus monthly salary of tk30. Jorimon works with her mother, husking paddy at the dheki sheds of the villagers. So her husband’s wages easily remain intact. The only expense was in clothing. In this way they were able to save tk125 in six months and were able to take a sub-lease of land (24 decimals) on which they lived from forest department. Such lease holders need to vacate the land when forest department required them to do so. 
Jorimon has three children. They have born in 1967, 1970 & 1974. All the time of her pregnancy she was always very ill. Specially, in 1974 the year of famine. There was free-feeding center but it did not enlist them because of rumor spread by villagers. On the other hand they could not buy rice at tk9 or tk10 a seer. So they often ate watery gruel made from coarse flour. This caused her tiny babies health deteriorates. To them 1971 the war of liberation did not affect them in special way. at that time once she buried a pot of paddy in the ground, three days later when she unearthed the pot found that the almost paddy is spoiled.
In 1975 her husband started a wood business. He borrowed tk1000 from his master & to pay tk100 per month as interest. There was not so profit after paying interest. After three month he needed tk200. He was forced to return the rest of capital (tk800).
All of their tiny property destroyed in the flood of 1980. They were forced to become refuge in neighbor’s house. Jorimon works in others dheki, received one seer of rice in return for husking one mound of paddy & her husband started as river wharf. He earns tk8-10 per day. At that time their monthly income was tk308 & expense was tk410. So they spent hard days. But Jorimon dreamt to start an independent business.
 She got the chance when Grameen Bank opened a branch in Hatubhanga (Tangail). Jorimon got together with four other women & on 20th December 1979 she became a registered member. Later on, in January 1980 her group received their first loan of tk600. She bought a dheki for tk20 & with great enthusiasm & excitement she started her paddy husking business. Every Wednesday her husband bought 4 mounds of paddy. The whole week Jorimon husks the paddy on her dheki& sold the rice. She & her son collected firewood, bamboo roots, and leaves from the forest. The dry powdery chaff from the paddy husk was also use as fuel for parboiling the paddy. 

2.7 Strategies created by Grameen Bank

Ø  Strategies for create successful Microfinance organization: Microfinance is the provision of financial services to low-income clients, including consumers and the self-employed, who traditionally lack access to banking and related services. Those who promote microfinance generally believe that such access will help poor people out of poverty.
Ø  To better meet its ultimate goal of social and economic development, Grameen Bank targets women more than men. By doing so, it directly channels credit to the poorest and the least empowered and helps improve the living standards of their families. Along with providing credit, Grameen Bank offers guidelines to members for codes of conduct and activities aimed at improving their social and financial conditions.
Ø  Strategies for Create social business for social development.
Ø  Strategies for Create self-employment & reduction unemployment.

2.8 Beggars as Members

Begging is the last resort for survival for a poor person, unless he/she turns into crime or other forms of illegal activities. Among the beggars there are disabled, blind, and retarded people, as well as old people with ill health. Grameen Bank has taken up a special program in 2002, called Struggling Members Program exclusively for the beggars. Over 112,454 beggars have joined the program. Total amount disbursed stands today at Tk. 155.91 million. Of this amount of Tk. 123.24 million (79% of the amount disbursed) has already been paid off. Over 19,536 beggars have left begging and are making a living as door-to-door sales persons.
                                                     
Basic features of the program are:
Ø  Existing rules of Grameen Bank do not apply to beggar members; they make up their own rules.
Ø  All loans are interest-free. Loans can be for very long term, to make repayment installments very small. For example, for a loan to buy a quilt or a mosquito-net, or an umbrella, many borrowers are paying Tk. 2.00 (3.4 cents US) per week.
Ø  Beggar members are covered under life insurance and loan insurance program without paying any cost.
Ø  Groups and centers are encouraged to become patrons of the beggar members.
Ø  Objective of the program is to provide financial services to the beggars to help them find a dignified livelihood send their children to school and graduate into becoming regular Grameen Bank members.

2.9 Literature Review


As of December, 2017, it has 8.93 million borrowers, 97 percent of whom are women. With 2,568 branches, Grameen Bank provides services in 81,400 villages, covering more than 97 percent of the total villages in Bangladesh.

 It is an independent and separate bank under Bangladesh Bank. Although Grameen Bank authority claims it is not a fully bank or NGO.  In our country GrameenBank started its operation after 1974. When the country was full of ravage. Growth rate of population is very high on the other side asset is very few. Most often there is no consistency between the planning of asset & reality. As a result we cannot achieve success. To the people whom GB is serving is doing very well but it is too few than our total need.




Chapter Three
Organizational Profile



3.1. Brief History
The history of Grameen Bank can be traced back to 1976 when Professor Muhammad Yunus, Head of the Rural Economics Program at the University of Chittagong, launched an action research project to examine the possibility of designing a credit delivery system to provide banking services targeted at the rural poor.
Muhammad Yunus earned a doctorate in economics from Vanderbilt University in the United States. He was inspired during the Bangladesh famine of 1974 to make a small loan of US$27 to a group of 42 families as start-up money so that they could make items for sale, without the burdens of high interest under predatory lending. Yunus believed that making such loans available to a larger population could stimulate businesses and reduce the widespread rural poverty in Bangladesh.

Nobel Laureate
Muhammad Yunus, the bank's founder Yunus developed the principles of the Grameen Bank (literally, "Bank of the Villages" in Bengali) from his research and experience. He began to expand microcredit as a research project together with the Rural Economics Project at Bangladesh's University of Chittagong to test his method for providing credit and banking services to the rural poor. In 1976, the village of Jobra and other villages near the University of Chittagong became the first areas eligible for service from Grameen Bank. Proving successful, the Bank project, with support from Bangladesh Bank, was extended in 1979 to the Tangail District (to the north of the capital, Dhaka).The bank's success continued and its services were extended to other districts of Bangladesh.
By a Bangladeshi government ordinance on October 2, 1983, the project was authorized and established as an independent bank. Bankers Ron Grzywinski and Mary Houghton of Shore Bank, a community development bank in Chicago, helped Yunus with the official incorporation of the bank under a grant from the Ford Foundation. The bank's repayment rate suffered from the economic disruption following the 1998 flood in Bangladesh, but it recovered in the subsequent years. By the beginning of 2005, the bank had loaned over USD 4.7 billionand by the end of 2008, USD 7.6 billion to the poor.
The Bank continues to expand across the nation. By 2006, Grameen Bank branches numbered over 2,100. Its success has inspired similar projects in more than 40 countries around the world, including a World Bank initiative to finance Grameen-type schemes.The bank is also engaged in social business and entrepreneurship fields. In 2009, the Grameen Creative Lab collaborated with the Yunus Centre to create the Global Social Business Summit. The meeting has become the main platform for social businesses worldwide to foster discussions, actions and collaborations to develop effective solutions to the most pressing problems plaguing the world.

3.2 Objectives of Grameen Bank

The objectives of Grameen Bank are as under:
Ø  Extend banking facilities to rural bottom poor, without any collateral.
Ø  To eliminate the exploitation of the money-lenders;
Ø  Create self-employment for the vast unutilized and underutilized manpower resources of Bangladesh
Ø  To organize the disadvantaged people into small federation for mutual support and self-sustained socio-economic development.
Ø  Reverse the age-old vicious cycle of poverty through small credit.
Ø  To extend banking facilities to the poor men and women;

3.3 Principles of Grameen Bank
There are four Principles of Grameen Bank are-
Ø  Discipline
Ø  Unity
Ø  Courage
Ø  Hard work
● Grameen Network
Grameen Network Are Given Below:
1) Grameen Phone Ltd.
2) Grameen Telecom
3) Grameen Communications
4) GrameenCybernet Ltd.
5) Grameen Software Ltd.
6) Grameen IT Park
7) Grameen Information Highways Ltd.
8) Grameen Star Education Ltd.
9) GrameenBitek Ltd.
10) GrameenUddog (Enterprise)
11) GrameenShamogree (Products)
12) Grameen Knitwear Ltd.
13) GonoshasthayaGrameen Textile Mills Ltd.
14) GrameenShikkha (Education)
15) Grameen Capital Management Ltd.
16) GrameenByabosaBikash (Business Promotion)
17) GrameenTrust      
● Life Insurance
Each year families of deceased borrowers of Grameen Bank receive a total of Tk. 8 to 10 million (US $ 0.14 million to 0.17 million) in life insurance benefits. Each family receives Tk. 1,500. A total of 90,086 borrowers died so far in Grameen Bank. Their families collectively received a total amount of Tk. 170.90 million (US$ 3.72 million). Borrowers are not required to pay any premium for this life insurance. Borrowers come under this insurance coverage by being a shareholder of the bank.
Deposits
By the end of January, 2016 total deposit in Grameen Bank stood at Tk. 200.00 billion . Member deposit constituted  162 per cent of the total deposits. Balance of member deposits has increased at a monthly average rate of 12.87 per cent during the last 12 months.
● Computerized MIS and Accounting System
Accounting and information management of nearly all the branches (2,120, out of 2,343) has been computerized. This has freed the branch staff to devote more time to the borrowers rather than spend it in paper-work. Branch staffs are provided with pre-printed repayment figures for each weekly meeting. If every borrower pays according to the repayment schedule, the staff has nothing to write on the document except for putting the signature. Only the deviations are recorded. Paper work that remains to be done at the village level is to enter figures in the borrowers' passbooks. Thirty six zones, out of 39, are connected with the head office, and with each other, through intra-net. This has made data transfer and communications very easy.
● Policy for Opening New Branches
New branches are required to fund themselves entirely with the deposits they mobilize. No fund from head office or any other office is lent to them. A new branch is expected to break-even within the first year of its operation.
● Crossing the Poverty Line
According to a recent internal survey, 64 per cent of Grameen borrowers' families of Grameen borrowers have crossed the poverty line. The remaining families are moving steadily towards the poverty line from below.
● Village Phone Program
Professor Yunus has long argued that information and communications technology (ICT) has the potential to bring unprecedented employment opportunities for the poor. GB’s Village Phone Project is an extraordinary example of how powerful ICT can be in the hands of the poor. A Grameen borrower receives a handset with Grameen Bank financing and becomes the telephone-lady of the village, selling telephone services to the villagers, usually in places where fixed lines did previously not exist.

3.4 Nature of the Organization
Grameen Bank is micro-credit lending organization. It is an independent and separate bank under Bangladesh Bank. Although Grameen Bank authority claims it is not a fully bank or NGO. It is different in characteristics. Actually it is different from other banks and acts like NGO.

3.5 Number of the Employees
Numbers of Grameen Bank staffs is now 21,851. Among them 3,350 are female staffs.
Figure 01: Number of the employees
3.6 Number of Branches
At the end of 2013, there were 2,567 conveniently located branches throughout Bangladesh.
3.7 Number of Centers
At the end of 2013, there were 1, 43,057 conveniently located centers throughout in Bangladesh.
 3.8 Organizational Hierarchy 

Table 01: Organizational Hierarchy





Chapter Four
Analysis and Finding
 
















Microcredit programs extend small loans to very poor people for self-employment projects that generate income, allowing them to care for themselves and their families. For being a Member of the bank does not give any guarantee to get loan. To get loan from Grameen Bank starts with a live and interactive loan proposal making and disbursement process.

4.1 Basic Loan
The duration of Basic loan can be from 3 months to more than three years. The prior approval of Coordination and operation department is needed if it requires making repayment schedule for more than three years.
Every member will have a Loan ceiling. According to method 01and 02 at the every time of taking loan full repayment or 45 weeks later loan ceiling will be re fixed under some considerations.
Another Basic loan for special type of investment would be given with current Basic loan. This type of basic loan will be said as Special Investment Basic Loan. The current loan ceiling will not be applicable for this type of loan.

Figure 04: Basic Loan activates

4.2 Housing Loan
Introduced in 1984, housing loan has become a very popular program for the borrowers aspiring to build a decent but inexpensive shelter over their heads. Its ownership infuses people with a sense of pride, security and self-respect. The ceiling for a housing loan is BDT 15,000 for construction of a simple tin-roof house. A family would qualify for this loan if the land title is in wife's name. So far, more than 350,000 houses have been built with this loan. The house, designed by a special group of local architects, has many sleek features besides its low cost. These include clever use of indigenous raw material, ventilation, efficient use of space, ability to stand high wind velocity and aesthetic appearance. The engineers and economists of the Bank could not believe themselves when their $ 300 house was awarded a prestigious Architecture Award by the jury of the Swiss based Aga Khan Foundation. In the glittering world of architecture, this award normally goes to stunning multi-million dollar designs.


Figure 06: Housing loan Activities

The average size of the loan is BDT 13,081 per borrower. The interest rate is 8%, repayable over a period of 5 years. It brings the total number of houses built with the housing loans to 679,577 since inception.

4.3 Struggling Beggar Loan

Grameen Bank has taken up a special program in 2002, called Struggling Members Program exclusively for the beggars. This loan is intended for individuals who do not currently have the ability to take a basic loan. Begging is the last resort for survival for a poor person, unless he/she turns into crime or other forms of illegal activities. Among the beggars there are disabled, blind, and retarded people, as well as old people with ill health.
Ø  Existing rules of Grameen Bank do not apply to beggar members; they make own rules.
Ø  Beggar members are covered under life insurance and loan insurance programmers without incurring any cost.
Ø  Groups and centers are being encouraged to become patrons of this type of members.
As of 31st December, 2016 cumulative members under this program reaches at 1, 10,144 out of them 1,42,087 are women. By this time 2,568 branches of Grameen Bank have implemented the program. So far BDT 182.99 million has been disbursed and BDT 141.51 million has already been repaid. The struggle members saving balance stood BDT 9.07.

4.4 Higher Education Loan
This loan is offered for the purpose of encouraging education among the villagers and also for preventing the number of dropouts from such needy families. Thus it offers scholarship, coaching and higher education loan for GB borrower's children (student).So far 12,274 (Female) & 40,365 (male) members took the Higher Education loans. A total Amount is 886.58 (Female) & 2,361.40 (Male) in million BDT has been disbursed.

Figure 07: Higher Education Loan Activities
Main features:
1. This loan is applicable only for GB borrowers’ children.
2. The borrower must be regular in all respects. 
3. The student will start to repay the loan after one year of completion of the course. 
4. The rate of interest of education loan is basically 12% but from the date of completion of the course the borrower will pay 5% service charge. The remaining amount of interest will be paid as subsidy by GrameenKallyan (Welfare) a subsidiary organization of GB. 
5. Loan can be taken to study in Bachelor’s (Hon’s) and Master’s and its equivalent course. 
6. At best two children of one borrower can take this loan. 

4.5 Approved Coursed
Grameen borrower’s children studying or who will take admission in the mowing courses will be eligible for this loan. 
1. MBBS course in Govt. Medical College and ED’s course in Govt. Dental College.
2. Graduation course in Engineering in Govt. University and College. 
3. Graduation (Hon’s), Master’s MBA and MBA course in Govt. University or College.
4. Graduation & Master’s course in Agriculture in Govt. University or College.
5. Graduation course in Marine, Textile and leather technology in Govt College or Academy. 
4.6 Loan Application

At best two children of a borrower can take loan. The borrower and his/ her Children will jointly apply in a prescribed form along with the following documents. 
1. A certificate from the Head of the institute department as a roof of 
getting chance for admission.
2. A resolution from the center of the borrower.
3. An undertaking by the student. 
4. A statement from branch and zone regarding the relationship between applicant and borrower.



4.7 SWOT Analysis
SWOT analysis is the detailed study of an organization’s exposure and potential in perspective of its strength, weakness, opportunity and threat. This facilitates the organization to make their existing line of performance and also foresee the future to improve their performance in comparison to their competitors. As though this tool, an organization can also study its current position, it can also be considered as an important tool for making changes in the strategic management of the organization.
Strength:
Ø  Grameen Bank has already established a favorable reputation amongst the people in the banking industry of the country. It is one of the leading specialized banks in Bangladesh.
Ø  Grameen Bank has provided its banking service with a top leadership and management position.
Ø  Grameen Bank has gained enough confidence of the poorer section of the country. They feel quite comfortable to make any transaction with the bank as it is fully Government owned specialized bank.
Ø  Grameen Bank lending rate is lower than any other private commercial banks.
Ø  Most of the villagers and all are trust on Grameen Banks Loan policy.
Ø  Its activities are user friendly that’s why people are encouraged on it. 
Weaknesses:
Ø  Grameen Bank has less manpower than needed. The bank failed to provide a strong quality-recruitment policy in the lower and some mid level position. The poor service quality has become a major problem for the bank. The quality of the service at Grameen Bank is lower than the other private commercial banks.
Ø  Profit making is not the prime objective of Grameen Bank. So in some sector of Grameen Bank there is in slow growth.
Ø  The bank is not fully computerized so the banking procedure is time consuming.
Ø  Some time Loan’s interest make burden on its members.

Opportunities:
In order to reduce the business risk, Grameen Bank has to expand their business portfolio. The management can consider options of starting merchant banking or diversify into leasing and insurance sector.
Ø  Grameen Bank can improve the quality of service by introducing automation and online banking.
Ø  Opportunity in retail banking lies in the fact that the country’s increased   population is gradually learning to adopt consumer finance. The bulk of our population is lower class and middle class. Different types of retail lending products have great appeal to this class. So a wide variety of retail lending products has a very large and easily pregnable market.
Ø  Members can take Loan without securities.
Threats:
Ø  Grameen Bank performs commercial banking activities. So all sustaining multinational banks and upcoming foreign and private banks pose significant threats to Grameen Bank. If that happens the intensity of competition will rise further and banks will have to develop strategies to compete againstthese local and foreign banks.
Ø  If Grameen Bankcan not provide sufficient help and support to the poorer section than the development of the country will not be possible.
Ø  Grameen Bank is financing in the poor people sector of the country. And we all know that this sector is one of the most uncertain and risky sector to invest. These uncertainties are considered as one of the major threats for Grameen Bank

Findings
Principal Branch has some active and well-organized human resources who maintain the Daily activities more smoothly.
Ø  Loan transaction process is very lengthy.
Ø  CIB report is not available time to time from Bangladesh Bank.
Ø  Facilitation fee are not reasonable to the local intern.
Ø  Give well information of all the foreign intern.
Ø  The Credit department now performs relatively better than previous as they have batter but precious information about this.
Ø  Credit department is also smooth in processing the necessary investment documents and in sanctioning credit/investment to the customers. 
Ø  It has a lot of clients and they are very faithful.
Ø  Principal branch has much space for performing banking activities and for relaxation of the customer.
Ø  They have proper management services for the customer.
Ø  Relationship among the employees is good in all cases.
Ø  Have a great effort to make people self-sufficient and not go back in grip of property.
Ø  Introducing and providing the poor people who have no assets, access to credit and banking facilities.
Ø  “The sixteen decision” implemented by Grameen Bank can be said as the master plan, well set agenda for a poverty free Bangladesh.
Ø  Creating a system of trust as an attempt to unite the poor.
Ø  Women are now taking part in decision making process which has crucial impact on their lives, this has only possible because of newly introduced system by Grameen Bank.



Chapter Five
Recommendations and Conclusion




5.1 Recommendations
Though Grameen Bank has introduced a whole new system which has achieved the Nobel peace prize but eat many think has to do for more betterment for the wider part of the society.
Ø  Grameen Bank has its entrenched root in village level what is needed is to make it stronger and deep in the ground so why it become closer to the project poor.
Ø  Need for more efficient and faster services.
Ø  Facilitation fee should be reasonable.
Ø  Need regular training to the employees.
Ø  The project GS rate is high, need to low down payment rate and give the facility.
Ø  Though most of the members of Grameen Bank are women but in administrative level the participation of women is less, it should be increased.
Ø  Need to keep more touches.
Ø  Should have more measure to respond contingences more quickly.
Ø  The members of the Grameen Bank should be acquainted with the right based approaches so why they can easily approach to governmental agency to achieve their right and services from them.

5.2 Conclusion
After all the discussion it can be said that Microfinance is helping the poor. This people can be few through the world but third world country is highly benefited through it. It removes hunger & want & gives people a better way for living. Development is a time consuming process. Microfinance has the capability to give parents a way to survive & let her/his children to get better cloth & education & days can be much better when this children will be a perfect person. It obviously something very time consuming steps.
In our country Grameen Bank started its operation after 1974. When the country was full of ravage. Growth rate of population is very high on the other side asset is very few. Most often there is no consistency between the planning of asset & reality. As a result we cannot achieve success. To the people whom GB is serving is doing very well but it is too few than our total need.
Grameen Bank has earned the reputation of top banking operation in Bangladesh. This organization is much more structured compared to any other bank operating in Bangladesh. It is relentless in pursuit of business innovation and improvement. It has a reputation as a leader in financing manufacturing sector.  With its vast operation both regarding its technology, wide range of products, versatile services, strong financial base, invaluable customer’s satisfaction, and profound reputation it has grown into a unique stature which is now subject to every ones envy and became pride to its employee.
With a bulk of qualified and experienced human resource, Grameen Bank can exploit any opportunity in the banking sector. It is pioneer in introducing many new products and services in the banking sector of the country. Moreover, in the retail-banking sector, it is unmatched with any other banks because of its wide spread branch networking through the country.
Borrowers are very satisfied to them. Not all are illiterate, many of them are very educated, have strong sense to the reality & have the idea about the things which happening to them. They encourage the system because it benefiting them well.
Communication is a greater fact that rise & reduce product or service charge. Total economic infrastructure of our country is not good. Till in many place there is no direct communicational way. Providing service in such area is not easy. It required both financial & physical effort. It seems to me that, Government need to provide better communication system in all the part of Bangladesh. If the communication system developed & somehow the monetary value of the country increases may be in such day GB can be forced to reduce their service cost too.






References
Books and Reference:
·         Bateman, Milford (2010). Why Doesn't Microfinance Work?. Zed Books.
·         Anand Giridharas; Keith Bradsher (13 October 2006). "Microloan Pioneer and His Bank Win Nobel Peace Prize"New York Times. Retrieved 13 October 2006.
·         Women And Microcredit In Rural Bangladesh: An Anthropological Study Of Grameen Bank Lending by Aminur Rahman
·        Prospectus of Grameen Bank.
·        Project report of Grameen Bank.
·        Annual report of Grameen Bank (year ended 2016)
·        Annual report of Grameen Bank (year ended 2012)
·        Annual report of Grameen Bank (year ended 2011)