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Article Excerpt
Microfinance Venture to Replicate Grameen Model for Helping Poor in the U.S.
WASHINGTON, March 14 /PRNewswire/ -- Philip J. Philliou, an American financial services executive, and Habib Ahsan Shah Newaz, a Bangladeshi executive of Grameen Bank, have been appointed chief executive officer and project director, respectively, of Grameen America, Inc., a for-profit microfinance company that provides small loans, savings programs, and other services to poor people in the United States.
Grameen America is modeled after the Grameen Bank of Bangladesh, founded in 1983 by 2006 Nobel Peace Prize Laureate Muhammad Yunus.
Professor H. I. Latifee, managing director of Grameen Trust, said the company Philliou will head and Newaz will direct is a...
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