Human Resource Culture and Organizations Grameen Bank

The third objective was to generate employment opportunities for the poor and unemployed rural communities of Bangladesh by the provision of self-employment. The fourth objective was to form an organizational structure to bring the disadvantageous and poor rural women under a money earning scheme which was easy to understand and manage and the fifth objective was to alter the vicious circle of low income, savings, and investment into the virtuous circle of more income, savings and investment through the provision of credit facility. (Berqquist, 2009). At the initial stage, the research was aimed at finding the possibilities of implementing such credit mechanism facility for the village Jobra and the other adjacent villages for a period of three years, from 1976 to 1979. Then in 1979 the study as extended to include the Tangail district with the help of the nationalized commercial banks and financed by the central bank of Bangladesh. The success of this study opened the doors for using its business model for the other districts of Bangladesh. The year 1983 is a memorable day for the Grameen Bank as on that day the Grameen Bank project was established as an independent bank by the legislation of the Bangladesh government. Establishment of the Grameen Bank is a significant achievement for the poor people of Bangladesh as the business model of the organization has contributed in a considerable way to bring the poor communities in the prime functionalities and monetary circulation of the economy. At present, the rural poor who are also the borrowers of the bank holds the 90% share of the organization. The government holds the rest 10%. (A short history of the Grameen Bank, April 15, 2010. Yunus, n.d.). Mr. Yunus understood that the conventional practices of the banking system in Bangladesh focused mainly on the people who were already in better social and economic conditions. Keeping this in mind Professor Yunus thought to form an alternative institutional banking structure, which would be beneficial for improving the wellbeing of the poor and neglected portion of the society.