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Micro Credit in Bangladesh

Micro-credit is an important field for improving the economic life of the poor. It is now familiar in many countries because it has attracted the view of the common people after getting recognition by the Nobel Laureate Committee. Nevertheless, most of the people in the world are seriously stricken with the dearth of poverty even in the developed countries in some context. Otherwise it has generally been considered in the last two years as a commendable idea in the developing countries “At the beginning when micro-credit was first introduced here it was given to the men with the subsequent change to women which introduced changes with regard to their economic dependence, limited income opportunity and mobility.” It has been a different dimension since a large number of people across the world remains under the destitute situation of abject poverty. Absolute peace is inextricably link with the elimination of poverty. It is not really possible without more equitable development. For this reason, development is given first priority because development is considered as the pre condition for peace. Whenever development is interrupted, peace can not be sustained there. In this context, micro-credit is treated as a weighty instrument of development form the grassroots level of the society. So micro-credit is largely used as a collaborative effort to create economic and social development and to eradicate poverty from root level of society. Unlike wealthy borrowers, the poor know that if they default on one loan, they will never get another. On the basis of this perspective, micro credit acts as a valuable tool for self employment especially for unprivileged people. It is, therefore, clear that micro credit creates self employment and self reliant which paves the way to development for sustainable peace in the society.