Muhammad Yunus, founder of Grameen Bank, was a pioneer in implementing group responsibility to lend to the poor. Why wasn't someone else already doing it?

Question

Quizplus · Accepted Answer

While there were microcredit initiatives before Grameen Bank, the idea of using group responsibility as a way to lend to the poor was a new and innovative concept. The traditional banking system was not designed to serve the needs of the poor, and other organizations didn't think to use this approach.

Muhammad Yunus, Founder of Grameen Bank, Was a Pioneer in Implementing