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How is Grameen Bank different from commercial banks?

April 26, 2017Bank Banks Commercial different grameen

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How is Grameen Bank different from commercial banks?

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Grameen Bank is owned by the borrowers and it is based on trust. It does not require any collateral from its borrowers. Since the bank does not wish to take any borrower to the court of law in case of non-repayment, it does not require the borrowers to sign any legal instrument.