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I went to the bank and proposed that they lend money to the poor people. The bankers almost fell over.
Muhammad Yunus
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Interpretation

What this quote means

The quote highlights the unexpected challenge of proposing financial support for the poor to traditional banking institutions.

Muhammad Yunus, known for his work in microfinance, reflects on the skepticism he faced when suggesting that banks could lend to impoverished individuals. This statement underscores the prevailing belief within the banking sector that low-income individuals are not viable borrowers, thus revealing the disconnect between financial institutions and underserved populations. Yunus's proposal indicates a need for innovative approaches to finance that prioritize social impact over conventional profit-driven motives.

Themes

BankingMicrofinancePovertySocial ImpactFinance

In practice

Example use cases

In a discussion about social entrepreneurship, this quote can illustrate the importance of innovative financing for marginalized communities.

More from Muhammad Yunus

Civilization has given us enormous successes: going to the moon, technology. But then this is the civilisation that took us to debt, environmental crisis, every single crisis. We need a civilization where we say goodbye to these things.
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What I did not know yet about hunger, but would find out over the next twenty-one years, was that brilliant theorists of economics do not find it worthwhile to spend time discussing issues of poverty and hunger. They believe that these will be resolved when general economic prosperity increases. These economists spend all their talents detailing the process of development and prosperity, but rarely reflect on the origin and development of poverty and hunger. A a result, poverty continues.
Muhammad YunusRead
People.. were poor not because they were stupid or lazy. They worked all day long, doing complex physical tasks. They were poor because the financial institution in the country did not help them widen their economic base.
Muhammad YunusRead
Some people think that poor people are lazy. Actually, it takes a lot of work to survive when you are dirt-poor.
Muhammad YunusRead
Once poverty is gone, we'll need to build museums to display its horrors to future generations. They'll wonder why poverty continued so long in human society - how a few people could live in luxury while billions dwelt in misery, deprivation and despair.
Muhammad YunusRead
By simply capitalizing on core strengths and knowledge, companies and entrepreneurs can engage in an emerging business model that will enable them to create - and demonstrate - real, sustainable social impact in society.
Muhammad YunusRead

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