Banks tend to ignore the poor: Nobel laureate – Jakarta Post

25 10 2012

See on Scoop.itInclusive and Sustainable Business

Putting too much emphasis on profit is probably the most fundamental flaw in the world’s banking system, leading banks to neglect their main function of providing credit access to the public, microfinance expert and Nobel laureate Muhammad Yunus says.


“I see that there is something wrong with our banking system: Banks lend to people who have lots of money. That’s wrong, they should lend to people who do not have the money,” he told a seminar in Jakarta on Wednesday.

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