Follow me and beat poverty, Nobel winner tells West

This year Nobel Peace Prize winner (Professor Yunus) urged West and Europe to follow his theory and his work to beat poverty all over world. Often know as “World Banker to the poor” has shown the world that poverty can be beaten if its tackle properly. It is totally correct that today’s banking system is only directed towards the benefit of certain group of people because of this conventional system more than two-thirds of population does not qualify for any loan or financial help. Today’s leader urging for free market and even I do support free market but its hard to understand how free market will benefit people in general when two-thirds wont be able to get any benefit. So unless we try to tackle this poverty in third world and find out the ways to help these unprivileged people we can not call our economy system as free system as its not benefiting major portion of our world population. Remember it’s not the fault of poor people that they are poor, but it will be our biggest fault if we don’t help them.

MUHAMMAD YUNUS, this year’s surprise choice for the Nobel Peace Prize, used his award yesterday to make an impassioned appeal to the West to overhaul the way it tackles poverty in the Third World.

Speaking to The Times at the modest headquarters of his Grameen Bank, the Bangladeshi economist urged the international community to adopt his system of microcredit to help to pull the world’s poorest out of destitution.

“It is not the fault of poor people that they are poor,” Professor Yunus said. As he spoke, he was mobbed by colleagues and well-wishers who posed for photographs and brought flowers to his office in Dkaha.

“The banking system is based on collateral and guarantees and we have proved that you can loan money without them. Our microcredit system until today was a sub-system. Now we should be in the mainstream,” the man dubbed the “banker to the poor” said.



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