Grameen Fibreglass in the Pipeline

Grameen Telecom Trust and IES Alliance of Bahrain signed an MOU on June 4th ,2010 to set up a joint venture fibreglass company in Bangladesh.  The company will be named as Grameen Fibreglass that will produce fibreglass products to popularize bio-gas use, and producing pipes to improve sanitation, sewerage, building materials, boats and furnitures. This will be a social business where owners may receive back the amount equivalent to their investment, but no dividend beyond that.   The factory will be located at the Grameen Social Business Industrial Park at Kashimpur, Gazipur.  The factory is expected to go into production by the end of this year.

IES Alliance is a fibreglass company based in Bahrain, owned by Mr. Shahid Ahmed, a Bangladeshi with thirty-five years of experience in producing fibreglass.   At present the IES Alliance has three main sister concerns: Alliance Fiber Glass & False Marble Company, IES Alliance Business Solutions, Alliance Information Technology. Alliance Fibre Glass company offers top quality fibre glass and artificial Marble products within the Gulf  region.
Mr. Ahmed responded to Professor Muhammad Yunus's call to set up social business to solve social and environmental problems, without any intention of making personal gain from it.

Nobel Peace Prize Winner Muhammad Yunus Opens Fourth Grameen America Branch in Manhattan, NY

Grameen America, a not-for-profit microfinance organization founded by Professor Muhammad Yunus, celebrated the Grand Opening of its Manhattan branch and crossing 3,000 borrowers on Monday, May 17th. The ceremony took place at The Great Hall at City College of New York and was hosted by the Colin Powell Center for Policy Studies. Prior to this 2 branches in Queens and Brooklyn, NY and a third one in Omaha was opened because of strong local support and increasing demand of microfinance services.

“If it can be done in New York City, it can be done anywhere,” said Professor Yunus. “Just because we don’t take collateral doesn’t make us vulnerable. Just because you do take collateral doesn’t make you invincible.” Speaking directly to the 50 Grameen America borrowers in attendance he said, “Your enterprise is small, your loan size is small, but the dream is big. We will make the dream come true.”

Grand opening of Grameen America in Manhattan

Professor Muhammad Yunus opens the new Grameen America branch in Manhattan, New York on Monday, May 17 2010. This marks the debut of the fourth Grameen America branch in the United States with the others being in Jackson Heights NY, and Omaha NE.

Yunus sings for social business: Calls for creating a different world

Yunus sings for social business

Calls for creating a different world

Staff Correspondent

Nobel laureate Muhammad Yunus has called for establishing social business as a problem solver, not profit maximiser, to tackle global poverty and social injustice.

"If we had created another kind of business on the basis of selflessness, we could have created a different kind of world," said Yunus, the founder of Grameen Bank, yesterday.

He was giving a lecture on "Creating a world without poverty -- social business bridging the gap" at the inaugural session of a three-day international conference.

Yunus said selfishness is at the heart of business that has created a string of socio-economic problems across the globe.

North South University, US-based Knowledge Globalization Institute and Suffolk University jointly organised the conference on knowledge globalisation on the NSU campus in the capital.

"Poverty is not a question of money, it is a question of structure," Yunus said.

He said poverty is not created by the poor: it is the result of mistakes done by someone else and is imposed on them.

Off The Shelf: Microcredit? To Him, It’s Only a Start

IN 2006, the Nobel committee made the surprising decision to award its peace prize not to a philanthropist or a human rights activist, but to Muhammad Yunus, the founder of the Grameen Bank of Bangladesh. What did this financier from a small, impoverished country do to deserve the world’s most prestigious award? He invented microcredit, the practice of lending tiny amounts of money to the poor.


It was a revolutionary idea. Until then, bankers figured that such borrowers were worthy of neither credit nor trust. Along came Dr. Yunus, who demonstrated that lending to the needy could be a profitable business and transform their lives. Indeed, many of Grameen’s clients used these small sums to start small businesses and to escape the clutches of poverty.

But you probably know this already. Over the years, Dr. Yunus has been embraced by rock stars like Bono and Peter Gabriel, and last year was recipient of the Presidential Medal of Freedom from President Obama. He has also been honored by major corporations eager to have their brands associated with the anti-poverty work of Grameen, which shared the Nobel with its charismatic founder.

What is Dr. Yunus doing with all the good will he has accrued? He has another initiative, one that is even more ambitious than microcredit. In “Building Social Business: The New Kind of Capitalism That Serves Humanity’s Most Pressing Needs”(PublicAffairs, $25.95), he calls for creation of an alternative economy of businesses devoted to helping the underprivileged.

U.S. Presidential Summit on Entrepreneurship

President Obama speaks at the Presidential Summit on Entrepreneurship, an event aimed at identifying how to deepen ties between business leaders, foundations, and entrepreneurs in the United States and Muslim communities around the world.

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