How One Little Finance Tool Empowers Women
4 April 2016 • Ildi Amon
Nobel Peace Prize Laureate Professor Muhammad Yunus, the founder of Grameen Bank in Bangladesh, a bank which is based on micro-credit, recently told Australian television program Q&A that his bank has a rule to give 50 per cent of loans to women. He says women often want to say 'no' to the loans, asking for it to be giving to her husband. "We tell our colleagues... don't take 'no' for an answer, because when a woman says 'no', it's not her voice, it's the voice of the history, which created her. All the fears that accumulated around her come out as 'no'. We have to peel off that fear layer by layer, and the real woman will come out and say 'let me try.'"
The bank realised that the benefits of loaning to women for the family, outweighed loaning money to the men.
Ildi Amon is a journalist, researcher, copywriter and communications consultant. She is from Melbourne, Australia but currently lives in Budapest, Hungary.