Skip to content
Subscriber Only

Online Extra: Yunus Blasts Compartamos

The Nobel Prize-winning microfinance pioneer refuses to mention the words "Compartamos" and "microfinance" in the same breath

Muhammad Yunus, who won the Nobel Peace Prize in 2006 for his pioneering work in extending credit to the working poor in Bangladesh, is aghast at the business strategies employed by a onetime charitable microlender that has become Mexico's most profitable bank, Banco Compartamos (BMOSF).

"They're absolutely on the wrong track," says Yunus. "Their priorities are screwed up."