AN ASSESSMENT OF THE SUCCESS FACTORS OF MICRO FINANCE OF GRAMEEN BANK IN BANGLADESH

Abstract

This paper analyses the factors that led to the success of micro finance, in particular, Grameen
Bank (GB) in Bangladesh. The study covers different critical success factors such as the
innovation, design and implementation of GB, the adaptation and learning practice of GB, the
motivation and contribution of GB and some environmental factors that supported Micro finance
success in GB especially in Bangladesh. The contribution of microfinance in Bangladesh
economy is also identified in the study. The positivist viewpoints along with inductive approach
are followed as a research philosophy. The positivism methods in conjunction with inductive and
quantitative approach have applied to find out the fey factors that aided micro finance of GB.
The qualitative approach has selected for the purpose of identifying the role of micro finance at
different sectors in Bangladesh economy. It has been found that all factors in the model adopted
in the conceptual framework have contributed to the success of microfinance of GB. The micro
finance also helps to the sustainable development of Bangladesh economy especially in rural
areas.