Microfinance – a positive or a negative impact on the women in the rural Bangladesh?
Abstract: Purpose: The purpose of this study is to analyze if the Grameen Banks Microfinance program has a positive or negative impact of the women in the rural Bangladesh. With our field study we want to get our own insight into the how Grameen Banks organization works. Furthermore we want to meet and see with our own eyes a number of borrowers to hear their version of about Microfinance and its impact on their lives. Main research question is : Does Microfinance have a positive or negative impact of the women in rural Bangladesh? Our sub questions are: How does microcredit work in the practice? How does the Grameen Bank finance the Microfinance system? And how can the borrowers repay the loans without falling into a vicious spiral where the economic situation deteriorates? Is Microfinance a way of developing the society in a long term way? Is Microfinance a community development solution for the reduction of society's poverty that generates the development of welfare? Method: We have chosen to use the qualitative method when we collected data. The collection have taken place mainly through personal interviews and general group interviews, but also through own observations. Result & Conclusions: From our research we have seen that the MF impact on the women is more positive than negative. This study shows that Grameen Bank MF program gives poor women in rural Bangladesh opportunities that they don’t otherwise have. GB MF program gives women chance to gain a more secure life, a social network, a change in life, with hope for a better life. Suggestions for future research: To investigate on one part of Microfinance. For example the interest rate and how that affects the women or impact on women’s empowerment with help of MF, or struggling members and how they benefit from MF programs. 3 Contribution of the thesis: We did a practical study too see and get our own experience of Microfinance in real life. Contributions from our study are that the society in Sweden can be enlightened and educated that Microfinance can be a critical element of an effective poverty reduction strategy especially for developing countries. The services provided by Microfinance institutions can enable the poor to build their assets gradually, develop their microenterprises, enhance their income earning capacity, and enjoy an improved quality of life. To inform society in Sweden that Microfinance contributes to poverty reduction in Bangladesh, we hope that society wants to learn even more and have active discussion regarding Microfinance institutions. Following information collected from our study has revealed that Microfinance have changed the life of poor people in a positive way. Key words: Grameen Bank, microfinance, impact, rural women in Bangladesh.
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