Introduction
According to Peng (2014), " Recent research suggests
that firm size and age are not defining characteristics of entrepreneurship."
(pg 128), this suggests that an entrepreneur can arise from anywhere and it's
not necessary that they need enough fund to start. Microfinance Institutions
(MFIs) are a type of banking system which provides loans to those group who
have low-income or unemployed without any financial guarantees. MFIs are
directly contributing to the national economies by putting an effort to raise
the people from poverty. The MFIs are playing smart by providing 80 percent of
its lending to women since they are likely to support their family and less
likely to adopt bad habits like drinking, gambling in comparison to men.
Muhammad Yunus, a visionary person has come up with an idea to lent people less
and raise them out of poverty, and make them the practice of self-dependence
which has led him to get the Nobel Peace Prize in 2006.
The case arises questionable debate of the Nobel Peace Prize
to Muhammad Yunus instead of the Nobel Economics Prize. It has also raised
ethical questions to MFIs about its investors being richer and richer, charging
up high loan interests, using unethical ways to recover, and forcing the
customer to take the suicidal way out. Also, the Government of Bangladesh has
been intervening and arising questions of wrongdoing by the Grameen Bank.
