Janet Hay
In short, this model of giving was a pathway towards removing poverty through “Sending Giving rather than “Charity Giving” in which the latter takes away the initiative of the poor, and serves as a distraction of injustice. Janet indicated that poverty is basically the result of a lack of cash and that poor and disadvantaged find it most difficult to advance towards independence and security. This is a common phenomena when the nature of international aid has involved celebrities forwarding goods etc which are often stolen or re - directed.
The granting of small loans linked to low interest rates has resulted in the creation of a global business acumen, in which profits can be directed to the extension and establishment of further businesses and which do not result in any personal financial profit for the local population(s).Dr Yunus (Bangladesh) made a significant contribution to the economy in the mid 1970’s by introducing a model of Micro Credit. This was a form of “Social Business” and, which in essence, provided a new type of capitalism which encouraged investment, use of technology and which created further employment opportunities for the starving villagers. In particular, Micro Credit loans to women allowed them to send their children to schools as well as witnessing a significant and continuing alleviation of poverty across the wider community.
Janet’s presentation was well researched, informative and which raised a number of excellent discussion points and questions from the audience.
The Sixteen Decisions of the Grameen Bank
“Every new member of the Grameen Bank is expected to learn the Sixteen Decisions and to pledge to follow them.”
- The four principles of Grameen Bank – Discipline, Unity, Courage, and Hard Work – we shall follow and advance in all walks of our lives.
- We shall bring prosperity to our families.
- We shall not live in dilapidated houses. We shall repair our houses and work towards constructing new houses as soon as possible.
- We shall grow vegetables all the year round. We shall eat plenty of them and sell the surplus.
- During the plantation season, we shall plant as many seedlings as possible.
- We shall plan to keep our families small. We shall minimise our expenditures. We shall look after our health.
- We shall educate our children and ensure that they can earn to pay for their education.
- We shall always keep our children and the environment clean.
- We shall build and use pit latrines.
- We shall boil water before drinking or use alum to purify it. We shall use pitcher filters to remove arsenic.
- We shall not take any dowry at our sons’ weddings; neither shall we give any dowry in our daughters’ weddings. We shall keep the centre free from the curse of dowry. We shall not practice child marriage.
- We shall not inflict any injustice on anyone; neither shall we allow anyone to do so.
- For higher income we shall collectively undertake bigger investments.
- We shall always be ready to help each other. If anyone is in difficulty, we shall all help.
- If we come to know of any breach of discipline in any centre, we shall all go there and help restore discipline.
- We shall take part in all social activities collectively.
“Creating a World without Poverty: Social Business and the future of Capitalism” (2007)
Dr Muhammad Yunus