The launching ceremony of the Bangla edition of “Small Loans, Big Dreams: Muhammad Yunus, Grameen Bank and The Global Microfinance Revolution,” an account of the origins and development of microfinance in Bangladesh by Yunus and the Grameen Bank, took place on Monday at RH Home Center, the head office of University Press Limited (UPL), located in Dhaka’s Green Road area.
Authored by Alex Counts, founder of the Grameen Foundation, in the US, the book offers a powerful narrative on the origins and global impact of microfinance, tracing the remarkable journey of Yunus and the Grameen Bank.
The Bangla translation, carried out by Syed Faiz Ahmed, brings this influential story to a wider local audience.
The launch event was moderated by Md Rubaiyath Sarwar, managing director of Innovation Consulting.
This edition stands as a significant contribution to Bangladesh’s publishing landscape, offering readers a unique account of how microfinance emerged as a tool for poverty alleviation under visionary leadership.
Speaking at the launch event, Counts, author of the book, said: “Prof Yunus generously gave me his time during the writing of this book. He created a model where half of the borrowers were women, and that was revolutionary.”
Reflecting on his extensive experience in Bangladesh, he added: “Bangladeshi women are more reliable borrowers. They manage money better and avoid unnecessary risks. To truly understand the scale of Prof Yunus’s achievements, one must understand how the Grameen Bank works.”
Md Fazlul Quader, managing director of Palli Karma-Sahayak Foundation (PKSF), said: “Our experience shows that providing loans to women yields better results. Women exhibit stronger financial discipline and management skills.”
He added: “Institutions like the Grameen Bank, PKSF, and other MFIs (microfinance institutions) have demonstrated that a sustainable, institutional microfinance model is possible in Bangladesh.”
Parveen Mahmud, former deputy managing director of PKSF, said: “The Grameen Bank is a homegrown model, and we take pride in the fact that it received the Nobel Peace Prize along with Prof Yunus. Over the years, both the scale and scope of microcredit in Bangladesh have grown significantly.”
Sarder Akhter Hamed, managing director of the Grameen Bank, emphasized the institution’s mission, saying: “The Grameen Bank is, and will always be, a bank for the unbanked. By operating in rural villages throughout the country, it has played a pivotal role in empowering women and improving financial management at the grassroots level.”
In the book, the author also shows how microfinance can play a significant role in reducing economic inequality by enabling the underprivileged to participate creatively in the global economy.
With the help of Nobel laureate Yunus, Counts founded the Grameen Foundation in 1997 and served as its president and CEO.
In addition, he also served as president and CEO of the American India Foundation from 2016-17.
While studying at Cornell University, he received the John F Kennedy Memorial Award.
