what effect did yunus’s loan to sophia khartoum have on her stool-making business/course hero

Yunus’s loan had an enormous effect on Khartoum’s business: she was able to increase the daily profit of her stool-making business from two cents a day to $1.25 a day. Conclusion Experience has shown that it takes an utter destitute six to ten successive loans (one year each) – and a lot of hard work – to cross the poverty line.

Full Answer

Will the banker to the poor face a fate similar to Yunus?

Yunus’s loan had an enormous effect on Khartoum’s business: she was able to increase the daily profit of her stool-making business from two cents a day to $1.25 a day. Conclusion Experience has shown that it takes an utter destitute six to ten successive loans (one year each) – and a lot of hard work – to cross the poverty line.

What is the contribution of Muhammad Yunus?

May 30, 2016 · SHORT ANSWER QUESTION What effect did Yunus’s loan to Sophia Khartoum have on her stool-making business? Answer: Yunus’s loan had an enormous effect on Khartoum’s business: she was able to increase the daily profit of her stool-making business from two cents a day to $1.25 a day.

What happened to Yunus bank?

Sep 06, 2015 · ­ B. predatory moneylenders ­ C. financial illiteracy ­ D. poor education What effect did Yunus’s loan to Sophia Khartoum have on her stool­making business? » This response was posted on Aug 24, 2015 at 10:18 PM EDT. It had a more profitable effect. Instead of two cents per day, she new has rose to a $1.25 per day.

How long did GB staff give Govt to make Yunus Bank chair?

Muhammad Yunus (born 28 June 1940) is a Bangladeshi social entrepreneur, banker, economist and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. Yunus and the Grameen Bank were …

Why was Muhammad Yunus put on trial?

In 2013, he was put on trial for a second time because he had supposedly received earnings without the necessary permission from the government, including his Nobel Peace Prize earnings and the royalties from his book sales. The article claims that this series of trials against Yunus has puzzled billions of people around the world, from the 8.3 million underprivileged women of Grameen Bank to US President Barack Obama. Likening Hasina's political vendetta against Yunus to a modern-day replay of the conflict between Archimedes and General Marcellus, the article predicts that the " banker to the poor " may face a fate similar to the father of mathematics for asking Hasina not to disturb the Grameen Bank. Vikas Bajaj wrote in the Taking Note editorial blog of The New York Times on 7 November 2013:

Who is Yunus in the civil society?

In early 2006 Yunus, along with other members of the civil society including Professor Rehman Sobhan, Justice Muhammad Habibur Rahman, Dr Kamal Hossain, Matiur Rahman, Mahfuz Anam and Debapriya Bhattacharya, participated in a campaign for honest and clean candidates in national elections.

Why was Yunus awarded the Nobel Peace Prize?

Yunus was awarded the 2006 Nobel Peace Prize, along with Grameen Bank, for their efforts to create economic and social development. In the prize announcement The Norwegian Nobel Committee mentioned:

What happened to Yunus in Bangladesh?

Bangladesh government launched the first trial against Yunus in December 2010, one month after the release of Caught in Micro Debt, a documentary by Tom Heinemann. Screened on Norwegian television on 30 November 2010, the film broadcast the allegation that Yunus stashed approximately $100 million in 1996 into Grameen Kalyan, a sister company of Grameen Bank. however, Yunus denied the allegations. After completing a full investigation, the Norwegian government found Yunus innocent. However, Prime Minister Hasina used the situation as to increase sustained attacks on Yunus: these included claims that Yunus' age means he is too old to run the bank, Grameen has created companies unlawfully, and the bank operates as an organ of the government. The bank has denied all illegalities, arguing, among other things, that age limits do not apply in this case since Grameen, like BRAC, is a special bank. Yunus has also become subject to legal harassment over three criminal cases. A criminal defamation case was filed against Yunus for criticising politicians in 2007. A food inspector filed another case against Yunus, alleging that yogurt manufactured by the Grameen-Danone was adulterated. The final blow came on 3 March 2011. Bangladesh Bank informed Grameen in a letter that Yunus had been removed from Grameen, citing that he was older than the mandatory retirement age of 60, even though nine of the bank's directors-who were elected by 8.3 million Grameen Bank borrowers-allowed him to stay on the job after he had crossed that threshold. Backed by nine boards of directors, 22 thousand employees, and 8.3 million Grameen borrowers, Yunus defied the government order, returned to Grameen's headquarters in Dhaka, and lodged an appeal at Dhaka High Court against the decision. However, Justice Mohammad Momtazuddin Ahmed and Justice Gobinda Chandra Tagore delivered the verdict against Yunus, claiming that Yunus' posting as the MD of Grameen since 1999 was illegal as he had reached the age of 60 by then. However, Yunus still did not lose faith in the justice system. Backed by international leaders (e.g., Hillary and Bill Clinton), national leaders (e.g., Sir Fazle Hasan Abed) and 8.3 million Grameen borrowers, Yunus filed an appeal in Bangladesh Supreme Court against the High Court's verdict. The full bench of the Appellate Division headed by Chief Justice ABM Khairul Haque heard the appeal on 15 March and delivered the verdict which upheld Yunus removal by government.

Where was Muhammad Yunus born?

The third of nine children, Muhammad Yunus was born on 28 June 1940 to a Bengali Muslim family in the village of Bathua, by the Kaptai road in Hathazari, Chittagong in the Bengal Presidency of the British Raj, present Bangladesh. His father was Hazi Dula Mia Shoudagar, a jeweler, and his mother was Sufia Khatun. His early childhood was spent in the village. In 1944, his family moved to the city of Chittagong, and he moved from his village school to Lamabazar Primary School. By 1949, his mother was afflicted with psychological illness. Later, he passed the matriculation examination from Chittagong Collegiate School ranking 16th of 39,000 students in East Pakistan. During his school years, he was an active Boy Scout, and travelled to West Pakistan and India in 1952, and to Canada in 1955 to attend Jamborees. Later, while Yunus was studying at Chittagong College, he became active in cultural activities and won awards for drama. In 1957, he enrolled in the Department of Economics at Dhaka University and completed his BA in 1960 and MA in 1961.

Who is Muhammad Yunus?

Muhammad Yunus (born 28 June 1940) is a Bangladeshi social entrepreneur, banker, economist, and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans.

What is the Grameen Bank Ordinance?

On 2 August 2012, Sheikh Hasina's approved a draft of "Grameen Bank Ordinance 2012 " to increase government control over the bank. Currently, that power resides with the bank's directors—consisting of nine poor women—who were elected by 8.3 million Grameen borrowers. Hasina also ordered a fresh investigation into the activities and financial transactions of Yunus in his later years as managing director of Grameen, but people see the move as nothing more than an attempt to destroy his image. The prime minister also alleged that Yunus had received his earnings without the necessary permission from the government, including his Nobel Peace Prize earnings and the royalties from his books. On 4 October 2013, Bangladesh's cabinet has approved the draft of a new law that will give the country's central bank closer control over Grameen Bank, raising the stakes in a long-running dispute with the pioneering microlender. The Grameen Bank Act 2013 was approved at a cabinet meeting chaired by Prime Minister Sheikh Hasina on Thursday. It was passed by parliament on 7 November 2013, and replaced the Grameen Bank Ordinance, the law that underpinned the creation of Grameen Bank as a specialised microcredit institution in 1983. The government new plan is to break Grameen into 19 pieces. The New York Times reports:

Who is Muhammad Yunus?

Muhammad Yunus, Banker to the World’s Poorest Citizens, Makes His Case. Last year, a panel of judges from Wharton joined with Nightly Business Report, the most-watched daily business program on U.S. television, to name the 25 most influential business people of the last 25 years. On that list was Muhammad Yunus, ...

Has Bangladesh changed?

All of Bangladesh has changed if you look from the bottom up . In general, you see Bangladesh is still a poor country and so on. But empowerment has come to the women of Bangladesh — even the poorest women in Bangladesh. It’s tremendous. It’s a dramatic change that has taken place.

Is poverty unnecessary?

Not a single human being will suffer from the misery and indignity of poverty. Poverty is unnecessary. The human being is quite capable of taking care of himself or herself.