There is something fundamentally wrong for not charging interest. I wish to see how sustainable 50/50 becomes. The idea is not worsen the plight of poor folks, but help them get out of poverty. This should be progressively measured because some are bound to fail, higher number of clients being successful is a key indicator. Not providing interests create many problems and it is almost like just giving out monies for free
And that's why we encourage Islamic microfinance. Providing a Murabaha(Loan) on a flat/simple rate of interest of 8% per annum. The microfinance institution makes a profit while our clients are happy. I am from Somalia and work for a small microfinance as its COO and we are making a real difference in a country that's recovering from a brutal 30 year civil war
I wish your idea reaches more people.I am from Bangladesh. While the world hails Muhammad Yunus as the saviour of the poor, he and his bank actually has a reputation for making thousands of villagers homeless and engulfed in loan. People who hail him are those who have never actually taken a loan from Grameen Bank. Grameen Bank offers loans for upto 57% interest rate.
What a foolish comment. All I can say is you do not have any idea about the lives of poor people . Nobel Laureate Professor Amartya Sen attributed the success of Bangladesh in reducing poverty so significantly to a number of factors of which microfinance played crucial role
Good information . We also need to stop recommending what we think is best for prospective micro finance clients and take up some of borrowers suggestions The borrowers should also have a say in the terms and conditions offered by the Micro Finance Institutions . jAIRAJ RAMJIT - Trinidad& Tobago Development Foundation Ltd (FUNDAID)- Micro Finance Institution
dear Ethan Wagner, if you want to help more people come to africa i am a software by professional but seeing how mfi can help my people in south sudan real motivate me as for now am part of the team who started the first mfi in south sudan thank mr ethan wanger . hope you can email me . looking to hear from you regards Eng: bilal
Sania Mustafa nope he said it is outlawed in parts of India....he is referring to erstwhile Andhra Pradesh... Please read up on the microfinance crisis that occurred there.
There is something fundamentally wrong for not charging interest. I wish to see how sustainable 50/50 becomes. The idea is not worsen the plight of poor folks, but help them get out of poverty. This should be progressively measured because some are bound to fail, higher number of clients being successful is a key indicator. Not providing interests create many problems and it is almost like just giving out monies for free
maybe they take equity
There is everything fundamentally wrong for charging Interest.
And that's why we encourage Islamic microfinance. Providing a Murabaha(Loan) on a flat/simple rate of interest of 8% per annum. The microfinance institution makes a profit while our clients are happy. I am from Somalia and work for a small microfinance as its COO and we are making a real difference in a country that's recovering from a brutal 30 year civil war
It's well known that Islam does not allow interest on loans.
Voice and attitude is good
Opportunities aren.t equal and won.t look for you
"If we're lucky..."
I wish your idea reaches more people.I am from Bangladesh. While the world hails Muhammad Yunus as the saviour of the poor, he and his bank actually has a reputation for making thousands of villagers homeless and engulfed in loan. People who hail him are those who have never actually taken a loan from Grameen Bank. Grameen Bank offers loans for upto 57% interest rate.
What a foolish comment. All I can say is you do not have any idea about the lives of poor people . Nobel Laureate Professor Amartya Sen attributed the success of Bangladesh in reducing poverty so significantly to a number of factors of which microfinance played crucial role
Good information . We also need to stop recommending what we think is best for prospective micro finance clients and take up some of borrowers suggestions The borrowers should also have a say in the terms and conditions offered by the Micro Finance Institutions .
jAIRAJ RAMJIT - Trinidad& Tobago Development Foundation Ltd (FUNDAID)- Micro Finance Institution
From someone who works in the MF industry...i wanna say a big thumbs up...!
Ethan if you provide interest-free loans, how do you make money to sustain the business?
Yeah, thats wht I ask too.
Profit will not be the objective of the company. Rather value from help will yeld a return on investment.
Shogun Assassin
Can't you make a suggestion or contribution without insult?
Well done I wish you all the best
So half the money is given away, and the other half generates no interest. How do you replenish your funds?
dear Ethan Wagner, if you want to help more people come to africa
i am a software by professional but seeing how mfi can help my people in south sudan real motivate me as for now am part of the team who started the first mfi in south sudan thank mr ethan wanger . hope you can email me . looking to hear from you
regards
Eng: bilal
If I heard this correct, he mentioned microfinance is now illegal in india? (7.05)
Sania Mustafa nope he said it is outlawed in parts of India....he is referring to erstwhile Andhra Pradesh... Please read up on the microfinance crisis that occurred there.
After that incident the government started issuing NBFC-MFI licenses to the aspiring institution in this sector
0:49 Wait... HOW did you know that? LMAO
did this guy just predict trump 2016?
Come on guy, don't be plagiarising parts of Mohammed Yunus's speech....:/
Such a rude comment. He conceptualized the essence of microfinance correctly .
Dude called Trump Election in 2013 LMAO