Chinese Bank Chief Signs Agreement to Launch Grameen Microcredit in China
Yunus Centre Press Release (24th November 2016):
President of Leading Chinese Bank calls on Professor Yunus to sign an agreement with Grameen Trust for replicating Grameen microcredit on large scale in China.
Mr.WangJiong, President of ZhongYuan Bank Co., Ltd., China with his four member delegation met Nobel Laureate Professor Muhammad Yunus at Yunus Centre on 24th November 2016 to sign an agreement to replicate Grameen model on a large scale in China. ZhongYuan Bank Co., Ltd is a nationwide bank in China with 13,000 employees. The bank is headquartered in Zhengzhou, capital of Henan province. The province is the heartland of China, with a population of over 100 million.The bank was officially launched on December 26, 2014, integrating thirteen commercial banks.
A tripartite agreement was signed among ZhongYuan Bank , Grameen Limited (China), a social business promoting company in China, and Grameen Trust. Mr. Wang Jiong, President of ZhongYuan Bank Co., Ltd., Mr Gao Zhan from Grameen Ltd China and Mr Abdul Hai Khan General Manager of Grameen Trust signed the in presence of Nobel Laureate Professor Muhammad Yunus and Professor H.I. Latifee, Managing Director Grameen Trust.
The agreement was signed with the aim to have the parties to work together to set up Grameen microcredit programme for the bank based on the principle of social business. The bank will immediately start prototype development in several experimental branches in Henan province with experts from Grameen Trust.After successful prototype development the bank will expand its micro loan programme through its nationwide branch network with the guidance from Grameen Trust.
President of Zhongyuan Bank was accompanied by the Vice President as well as Head of the Microcredit Department of the bank. Professor Yunus was invited by the bank chief to visit his bank and addreess the employees of the bank to inspire them to serve the poor.
Photo Caption 1: The agreement signing among ZhongYuan Bank, Grameen Limited (China) , anf Grameen Trust for launching Grameen microcredit program in Henan province in China took place at Yunus Centre on 24 November, 2016. Mr.Wang Jiong, President of ZhongYuan Bank Co., Ltd., Mr Gao Zhan from Grameen Ltd China and Mr Abdul Hai Khan General Manager of Grameen Trust signed the agreement in the presence of Nobel Laureate Professor Muhammad Yunus and Professor H.I. Latifee, Managing Director Grameen Trust.
Photo Caption 2: Nobel Laureate Professor Muhammad Yunus and Professor H.I. Latifee, Managing Director Grameen Trust oversaw the agreement signing among ZhongYuan Bank, Grameen Limited,(China), and Grameen Trust at Yunus Centre on 24 November,2016 for the implemention of Grameen microcredit in Henan province and beyond, in China.
Photo Caption 3: Nobel Laureate Professor Muhammad Yunus, Professor H.I. Latifee, Managing Director Grameen Trust Mr.Wang Jiong, President of ZhongYuan Bank Co., Ltd and members of his delegation, Mr Gao Zhan Grameen Ltd China, Lamiya Morshed, Executive Director of Yunus Centre, Mr Abdul Hai Khan General Manager of Grameen Trust are seen after signing of agreement among ZhongYuan Bank, Grameen Limited (China), and Grameen Trust at Yunus Centre on 24 November,2016.
Source: Yunus Centre
Updated Date: 23rd January, 2017