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Saturday, November 21, 1998 Published at 18:03 GMT

World: South Asia

Grameen Bank chairman wins Indian award

The chairman of the innovative Grameen Bank in Bangladesh, Dr Mohammad Younus, who's been awarded India's Indira Gandhi peace prize, has criticised financial systems which deny credit to poor people.

Dr Yunus said the system of microcredits which he helped pioneer can change lives and he hoped his prize would help draw the world's attention to the importance of credit for the poor.

Since its inception in 1976, the Grameen Bank has provided two-and-a-half billion dollars worth of loans to millions of Bangladeshis, most of them women.

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