Wednesday, July 30, 2008

Don't make profits from micro finance - says Yunus

In the 11th annual Microcredit Summit Campaign conference being held in Bali, Indonesia, Grameen Bank's Muhammad Yunus has said:
If you are making profits you are moving into the same mental mind-set as loan sharks.
However, the trend is going to be different. More private equity players and big banks are getting into the micro credit field, hoping to earn significant profits. I had already linked to The Economist article on CompartamosBanco, a micro credit institution which became an aggressive for-profit company a while back, raising hackles across.

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