By Mehran Shamit - Grameen Bank, translated as "rural bank" in the Bangla language, is a grassroots microcredit organization founded in 1983 by Bangladeshi economist Muhammad Yunus to provide new financial opportunities to the poor. Grameen Bank and Muhammad Yunus were jointly awarded the Nobel Peace Prize in 2006 for their development efforts through microcredit. As of October 2011, Grameen Bank has over 8 million borrowers, 97% of whom are women (Grameen Bank, n.d.). The Bank provides services to more than 97% of villages in Bangladesh with 2,565 branches across the country and is especially well known around...