Bangladesh’s Grameen bank on August 25, 2015 was ranked 12 in Fortune’s ‘Change the World List. The bank was ranked for creating economic opportunities for the poor and bringing unbanked people under financial services. The bank was ranked 12th among 51 companies that have made significant contributions in addressing major social problems as part of their core business strategy. The list was topped by UK based telecom Vadafone and Kenya-based Safaricom. Google (Alphabet) and Toyota ranked second and third in the list. Yahoo, Walmart and Jain Irrigation systems secured the top ten ranks. Fortune’s Change the World List ranked companies not on the dollars they make, but on goods deeds they do
About Grameen Bank
The micro-finance institute was founded in 1976 by Nobel Laureate Muhammad Yunus. Since its inception, Grameen Bank has provided small collateral-free loans amounting to over 17.4 billion US dollar to over 8.7 million people, mostly impoverished women, which has lifted them above the poverty line. Its model has been copied around the world including US and India.
In October 1983, the Grameen Bank was authorized by national legislation as an independent bank. In 2006, the bank and its founder, Muhammad Yunus, were jointly awarded the Nobel Peace Prize. In 1998 the Bank’s Low-cost Housing Program won a World Habitat Award.