To empower a woman is to trust her, give her confidence and the ability to generate income for herself and her family, says Nobel laureate and Grameen Bank founder Professor Muhamad Yunus.
Yunus, who is also Universiti Kebangsaan Malaysia's Laureate-in-Residence, was in Kuala Lumpur recently to participate in dialogue sessions and talks organised by the university.
The pioneer of microcredit says he founded the bank in 1976 to give small loans to poor women in Bangladesh who would not have been able to attain loans otherwise, as they did not have a credit history -- a standard requirement by traditional banks in awarding loans.
It took Yunus and his team of students six years before they managed to convince poor women to take microcredit loans as they could not believe that people would trust them with such large amounts of money.
In the following interview, Yunus shares about the first US$27 loan he gave to a group of women stool-makers in Bangladesh, the problem of the "productivity trap" and why he encourages "the Grameen family" to vote in the local and national elections.
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