20th century intelligence - ending poverty of half world without electricity -although Keynes 1936 (last capter general theiry money inetrest emplymen) asked Economists to take hipocrati oath as the profession that ended extreme poverty, most economists did the opposite. Whats not understandable is how educatirs failed to catalogue the lessons of the handful who bottom-up empowered vilages to collaboratively end poverty. There are mainly 2 inteligences to understand- Borlaug on food; fazle abed on everything that raised life expectancy in tropical viage asia from low 40s to 60s (about 7 below norm of living with electricity and telecomes). Between 1972 and 2001, Abed's lessons catalogued in this mooc had largelu built the nation of Bangladesh and been replicated with help of Unicef's James Grant acroo most tropical asian areas. What's exciting is the valley's mr ad mrs steve jobs invted Fazle Abed to share inteligences 2001 at his 65th birthday party. The Jobs and frineds promised to integrate abed's inteligence into neighborhod university stanfrd which in any event wanted Jobs next great leap the iphone. The Valley told abed to start a university so that women graduates from poor and rich nations could blend inteligence as Abed's bottom of the pyramid vilage began their journey of leapfrog modles now that gridd infarstructures were ni longer needed for sdiar and mobile. Abed could also help redesign the millennium goals which were being greenwashed into a shared worldwide system coding frame by 2016. There re at Abed's 80th birtday party , the easy bitwas checking this mooc was uptodate. The hard bit - what did Abed mean by his wish to headhunt a taiwanese american to head the university's 3rd decade starting 2020?

Thursday, March 31, 2022

1.4 brac bank at 20

Over time Brac enered evert element of the financial services change needed to ensure economic devekopment of its vuillage women and their next generations as integral to nation building

Genesis of A typical small business owner in suburb of Dhaka -source brac annual report 2009

A group of women sit on the

concrete floor of a small room,

stitching colourful appliqué flowers

on a black saree. They all work for

Shahida Alamgir, a 38-year-old

mother of three, who runs a hand

embroidery business from her home

at Mirpur, a working-class suburb of

Dhaka. Shahida started out 12 years

ago with a 3,000-taka loan from

BRAC, earning about 20,000 takas

a month to supplement the money

her migrant worker husband sent

home. As her orders increased,

Shahida, who is self-taught, started

training other women in her locality

and outsourcing the work. In 2003,

she took out a loan of 50,000 takas

from BRAC Microfinance’s scheme

for small entrepreneurs to expand

her business with 5 workers. Now,

she is on a 300,000-taka loan,

employs 10 to 12 women at a time

and supplies clothes, as well as

cushion and bed covers, to 5 or 6

different retailers, earning 40-50

thousand takas a month. Shahida

wants to open her own boutique

and plans to apply for the maximum

loan of 1 million takas.

brac city bank plays its own roles in serving smes (small medium, enterprsises) particularly of city daughters of village mothers- but it is also a suitable cooperation stage to innovate whats needed next in this context described in brac's 2009 annual report

  In addition to operating social enterprises, we also engage in

socially responsible investments in order to build a hedge against

global market meltdowns and unfavorable changes in aid

allocation. BRAC’s investments, while having no direct relationship

with BRAC’s development programmes, reflect an underlying

association with BRAC’s core values and mission. Investments

include BRAC Bank Limited, the pioneer in lending to the small and

medium enterprises (SME) sector; Delta BRAC Housing, which

specialises in lending to the housing sector; bracNet, an internet

service provider intended to develop into a nationwide

communications network to help BRAC spread its development

programmes. The incomes they generate is designed to act as a

hedge against future liquidity crunches and are held in reserve for

BRAC’s development

Also noteworthy , fazle abed sought advice from community banks around the world - eg shorebank was flourishing in the part of south chicago that obama emerged from when structure of brac babk was first conceived ; today the exchange of knowhow is probably the other way round with brac city bank offering one of the deepest benchmarks for the global association of banks with values www.gabv.org


BRAC Bank celebrates 20 years of progress

Presently, Brac Bank is the largest collateral-free lender to the small entrepreneurs with rural penetration of more than 70% revitalising rural economy and generating employment

Picture: Courtesy
Picture: Courtesy

Brac Bank is celebrating its 20th anniversary with a strong commitment to contribute more to national progress. 

Living up to the vision of its founder, Sir Fazle Hasan Abed, KCMG, Brac  Bank was the first bank in Bangladesh to introduce collateral-free small ticket loan to the legions of small and medium enterprises at the nook and corner of the country helping them grow and thrive and contribute more to the economic development, said a press release. 

Presently, Brac Bank is the largest collateral-free lender to the small entrepreneurs with rural penetration of more than 70% revitalising rural economy and generating employment.

Its performance indicators in the Bangladesh banking sector are reflected in the highest market capitalisation and the highest international investor shareholding in the local banking sector and the highest bank credit rating of all banks in the country from both international rating agencies, S&P and Moody's.

As Bangladesh begins journey to graduate into a middle-income country within this decade and a developed nation by 2041, Brac Bank aspires to contribute to the government's development journey through inclusive banking and entrepreneurship development, the press release added. 

"Brac Bank has already made its mark in the country's banking arena through world-class products and services, consistent financial results, good governance, compliance, ethics, transparency and values-based banking," Brac Bank  Managing Director and CEO Selim RF Hussain said.

"With the talented and committed team empowered by technology, together we are determined to take BRAC Bank to the next level achieving exponential growth in market share, while continuing to progress the financial inclusion and values based development agenda of our founding Chairperson, Sir Fazle Hasan Abed, KCMG," he added. 

"We gratefully acknowledge the trust of our valued customers and shareholders, guidance of the Board of Directors and the regulators and of course, the contribution of our employees that make the bank what it is today," he further said.


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