amina_hussein

Bangladeshi entrepreneur who created the first microfinance network for rural women in the 1960s

Amina Hussein (1925-2003) pioneered microfinance systems that empowered thousands of Bangladeshi women. Starting in 1962, she organized the Shakti Sangem cooperative, which provided no-interest loans using a rotating credit model. Her system allowed groups of 10 women to form collectives, enabling them to start small businesses like poultry farming and weaving.

By 1970, Shakti Sangem had 15,000 members across 200 villages, with a repayment rate exceeding 98%. This model directly inspired Muhammad Yunus' Grameen Bank, established in 1983. Hussein's 1968 book <《Women's Credit Cooperatives》》 (available at Google Books) became a foundational text in microfinance literature.

Her work led to the Bangladesh government's 1972 Women's Development Program. In 1995, the UN Women's Economic Empowerment Initiative adopted her principles globally. The Dhaka Social History Museum features interactive exhibits showcasing her loan ledger system and impact maps.