The first note in this series, ‘What is Grameen II?’ introduced the Grameen Bank and the changes it has made recently, known as the ‘Grameen Generalised System’ or ‘Grameen II’. This second note in the Grameen II series now addresses specifically the significant growth in new member savings. Some of the most important changes are in the bank’s new approach to savings deposits. Under ‘classic’ Grameen – the products and rules in force up to 2002 – Grameen took mostly obligatory savings from its members and stored them in accounts for individual members and in joint-owned ‘group’ accounts. Under Grameen II, it has introduced greatly expanded deposit opportunities to both members and the general public. By end of 2004 total deposits (from members and from the public) exceeded the value of loans outstanding for the first time in the bank’s history. This completes the bank’s transition from a ‘microcredit’ bank to a true intermediary.
Related Documents
- Designing Savings and Loan Products
- Grameen II 8 - Lessons From The Grameen II Revolution
- Grameen II 5 - Grameen II’s Membership
- India Focus Note 94: Micropensions - The Scope and Progress to Date
- India Focus Note 93: Health Emergencies: How The Poor Pay?
- Briefing Note 119: Understanding Demand for Financial Products among the Youth of Central Java
- Briefing Note 118: Youth-Inclusive Financial Services (YIFS): Lessons & Key Considerations (Part II)
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