Dear friends, We are very delighted to hear that Professor Muhammad Yunus along with Grameen Bank were declared Nobel Peace Prize 2006. Sir, we appreciate your achievement but after reading this, do you consider that it is a noble work. Do you know the interest rate of micro credit is more than 50%, it is the highest rate of interest compare to any bank or financial institute working in Bangladesh and probably highest in the entire world in lending activities except call and other extra ordinary loan. Let see how it comes; Grameen people say that their rate of interest is 15%, but we find it more than the said rate. Ms. X takes Taka 3,000 interest rate 15% so, weekly installment is Taka 75 (46 weeks) so, she has to re-pay Taka 3,450 as principal Taka 3,000 and interest Taka 450 the main factors are (i) actual disbursement is {Taka 3,000-150 (5% compulsory savings)} = Taka 2,850 (ii) again consider that average principal loan amount would be Taka 1,425 (Taka 2,850/2) but after 23 installments, a beneficiary has to pay same amount of interest calculated on principal of Taka 2,850. To avoid this, Grameen should calculate interest on the basis of reducing principal amount. (iii) tenure of re-payment is 46 weeks not 52 weeks (a year). Considering the above fact, you can easily calculate that the interest rate is 32%. Calculation as follows: 450(Interest TK)*100/1,425 (Average principal). (iv) against the compulsory and own savings of a beneficiary, the Grameen people give interest only @ 6% but re-invest of savings amount of same beneficiaries they earn a huge return, as per above calculation. Again remember this program was started for fighting against poverty during 1974 famine in Bangladesh with a loan of $27 out of Mr. Yunus own pocket to help 42 women buy weaving tools. But surprisingly they are one of the biggest conglomerate. Most of them are business oriented but enjoy full relief of tax and other duties. Here the name of sister concern of Grameen. In this list the total assets of Grameen Phone were Taka 49,536,664,000 as on 31 December 2005 were the Grameen holds 38% of total shares through its Grameen Telecom, absolutely incredible business.Others are; Grameen Shakti, Grameen Telecom, Grameen Knitwear Ltd., Grameen Shikkha, GrameenPhone, Grameen Software Ltd., CyberNet Ltd. etc. Moreover, they expand interest all over the country which is strictly prohibited (Haram) in Islam. And I personaly think that Mr. Yunus will bear all the sin in relation to this filthy work. They also impose tremendous pressure on loanee and sometimes they are going in hard line and collect the loan at any way. Please do not do any business with this ultra poor people. Sir, if you have an intention for the well being of poor people, so why do not you give interest free loan? We also know that you people collect interest free donation or grants from donors. Recently, Muslim Aid, UK introduces this type of micro credit activities. I think after this glorious achievement you should re-consider this whole process and again sir, you do not need 20 storied building or Lexus car. Please re-consider the above all things.