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Chinese bank opens 6 Grameen-style branches
March 06, 2017
Nobel Laureate Professor Muhammad Yunus launches six bank branches to be run by Grameen style microcredit programme at Henan province in China recently as collaboration between Zhongyuan Bank and Grameen China. Chairman of Zhongyuan Bank Dou Rongxing and Secretary of Henan Provincial Government Zhu Huan Ran were also present. Photo: Yunus Centre
A Chinese bank in collaboration with Grameen China has opened six branches in the country's Henan province which will follow the microcredit model of Grameen Bank.
Nobel Laureate Prof Muhammad Yunus attended the launch as the chief guest on February 26.
Zhongyuan Bank and Grameen China have teamed up to provide financial services to the rural poor of the province, Yunus Centre said in a statement yesterday.
Zhongyuan Bank is a new bank in Henan that was created in 2014. Last year it posted a profit of $3 billion, according to the statement.
The bank, which will provide the loan capital and bear the operational expenses of the new initiative, invited Prof Yunus to its headquarters at Zhengzhou in Henan to meet with the top officials of the bank and discuss about the collaboration.
Grameen China will implement the initiative.
The opening ceremony was addressed by the secretary of Henan provincial government and the bank's chairman in presence of about 250 dignitaries.
Earlier, the Nobel laureate and his delegation were received by Xie Fuzhan, secretary of the Communist Party of China in the province, at the party office in Zhengzhou.
Fuzhan said he was delighted to see the collaboration between Zhongyuan Bank and Grameen China.
He thanked Yunus for his work on behalf of the poor around the world, and especially for his efforts aimed at supporting the poverty alleviation initiative in China.
He said Prof Yunus and his work and philosophy are well-known and admired throughout China.
Fuzhan pledged his support for the programme and introduced Yunus to the senior members of the party who, he said, would be at the economist's disposal for any help to run the microcredit activities.
Yunus congratulated the secretary for China's commitment to poverty reduction and for its success in lifting 300 million poor people out of poverty in the last three decades.
The founder of Grameen Bank said he would be delighted to support China's goal to eradicate poverty by 2020.
On the previous day in Beijing, Grameen China hosted a half-day conference on the progress of Grameen microcredit in China. It was attended by all the microcredit leaders in the country.
The session was addressed by Yunus, Prof H Latifee, managing director of Grameen Trust, which has been implementing microcredit in China since 1994, and the senior representatives of the Chinese Association of Microfinance such as Du Xiaoshan and Bai Chengyu.
Yunus also attended the launch of the first Yunus Social Business Centre at a leading university in Beijing. The centre is collaboration between Renmin University and Yunus Centre, Bangladesh.
The university organised a daylong conference to discuss the progress and prospects for microcredit and social business in China.
http://www.thedailystar.net/business/chinese-bank-opens-6-grameen-style-branches-1371379
March 06, 2017
Nobel Laureate Professor Muhammad Yunus launches six bank branches to be run by Grameen style microcredit programme at Henan province in China recently as collaboration between Zhongyuan Bank and Grameen China. Chairman of Zhongyuan Bank Dou Rongxing and Secretary of Henan Provincial Government Zhu Huan Ran were also present. Photo: Yunus Centre
A Chinese bank in collaboration with Grameen China has opened six branches in the country's Henan province which will follow the microcredit model of Grameen Bank.
Nobel Laureate Prof Muhammad Yunus attended the launch as the chief guest on February 26.
Zhongyuan Bank and Grameen China have teamed up to provide financial services to the rural poor of the province, Yunus Centre said in a statement yesterday.
Zhongyuan Bank is a new bank in Henan that was created in 2014. Last year it posted a profit of $3 billion, according to the statement.
The bank, which will provide the loan capital and bear the operational expenses of the new initiative, invited Prof Yunus to its headquarters at Zhengzhou in Henan to meet with the top officials of the bank and discuss about the collaboration.
Grameen China will implement the initiative.
The opening ceremony was addressed by the secretary of Henan provincial government and the bank's chairman in presence of about 250 dignitaries.
Earlier, the Nobel laureate and his delegation were received by Xie Fuzhan, secretary of the Communist Party of China in the province, at the party office in Zhengzhou.
Fuzhan said he was delighted to see the collaboration between Zhongyuan Bank and Grameen China.
He thanked Yunus for his work on behalf of the poor around the world, and especially for his efforts aimed at supporting the poverty alleviation initiative in China.
He said Prof Yunus and his work and philosophy are well-known and admired throughout China.
Fuzhan pledged his support for the programme and introduced Yunus to the senior members of the party who, he said, would be at the economist's disposal for any help to run the microcredit activities.
Yunus congratulated the secretary for China's commitment to poverty reduction and for its success in lifting 300 million poor people out of poverty in the last three decades.
The founder of Grameen Bank said he would be delighted to support China's goal to eradicate poverty by 2020.
On the previous day in Beijing, Grameen China hosted a half-day conference on the progress of Grameen microcredit in China. It was attended by all the microcredit leaders in the country.
The session was addressed by Yunus, Prof H Latifee, managing director of Grameen Trust, which has been implementing microcredit in China since 1994, and the senior representatives of the Chinese Association of Microfinance such as Du Xiaoshan and Bai Chengyu.
Yunus also attended the launch of the first Yunus Social Business Centre at a leading university in Beijing. The centre is collaboration between Renmin University and Yunus Centre, Bangladesh.
The university organised a daylong conference to discuss the progress and prospects for microcredit and social business in China.
http://www.thedailystar.net/business/chinese-bank-opens-6-grameen-style-branches-1371379
