Monday, December 11, 2023

Yunus slates ‘loan shark’ microlenders

Nobel laureate Muhammad Yunus has labelled profit-driven microfinance firms as ‘loan sharks’ who undermine the small-credit schemes that he pioneered to help tackle poverty. Yunus, who won the Nobel Peace Prize in 2006 for making loans available to poor entrepreneurs, hit out at the commercial microfinance companies as the concept faces