2006 Nobel Peace Prize winner Professor Muhammad Yunus featured in the Forbes’ Second Annual Philanthropy issue cover along with Bono, Bill Gates, the President of Liberia Ellen Johnson Sirleaf, Robin Hood Founder Paul Tudor Jones, e-Bay founder Jeff Skoll, and Liesel Pritzker Simmons. The issue focuses on the great works done by the philanthropists and how their contributions are having impact in changing the world.
The 9th Social Business Design Lab took place on 16 November 2013 at Yunus Centre. About 112 participants from different organizations including representatives from national and international NGOs, business leaders, academics and specialists attended the event. Women activists, representatives from several local NGOs, distinguished academicians, students from home and abroad are some of the participants among the others.
Dato' Sri Haji Mohammad Najib Abdul Razak, Prime Minister of Malaysia, addressed the closing session of the second day of the Global Social Business Summit in KL on Friday. In his address at the Summit, he said that social business, developed by Nobel Laureate Professor Muhammad Yunus, was a very effective model to tackle social problems and iniquities of Malaysia. He announced a 20-million ringgit or US$ 6.5 million fund for promoting social businesses in the Southeast Asian country. Photo: Nasir Ali Mamun/ Yunus Centre
The Global Social Business Summit 2013 opened today at the Kuala Lumpur Convention Centre in KL, Malaysia.
This is first time that the Summit has been organised in Asia, and is being attended by 600 delegates from all over the world.
The program began with an electrifying performance by the musical troupe Malaysia Percussion which set a high note to the opening ceremony. Hans Reitz, the Director of Global Social Business Summit and Nurfarini Daing, CEO of Youth Trust Foundation myHarapan welcomed the participants and handed over the floor to Nobel Laureate Professor Muhammad to conduct the first the session. In his opening speech, Professor Yunus expressed his happiness in seeing the concept of social business develop and flourish globally. The Founder of Grameen Bank said the capitalist system came up with a lot of promises and the whole world had rallied merrily around it. “It was thought that it would solve all problems. Instead it created new problems. And we see no light at the end of the tunnel, and we are trapped" He said social business. He said business is a very powerful machine which could be used in different directions for achieving multiple results instead of driving it into for a single goal of making money. “Social business could be that multi-tasking machine,” said the Bangladeshi economist, and offered the chance of making lasting impact.
I condemn the action of the Government of Bangladesh in changing the Grameen Bank law in the strongest language possible.
Grameen Bank was created as a bank owned by poor women, and managed by poor women. Its legal structure did not allow any government interference of any kind, except for regulatory oversight. The amendments to the law which have just been introduced, have created the opportunity for the government to take 100 percent control of the bank if they wish to. These amendments fundamentally change the character of the bank. With these amendments, the government has opened the door for its ultimate destruction. What a shame for the nation, and the whole world!
I feel extremely sorry that the nation has to go through the unnecessary traumatic experience of seeing a great global iconic institution, created by this nation, be brutally harmed by a group of irresponsible and thoughtless people. The immediate task before the country is to repair the enormous damage done to the Grameen Bank law at the earliest opportunity, before it is too late. I hope the whole nation, particularly all women, along with the women of Grameen Bank, their family members, as well as the staff of the bank will rise to the occasion and make it happen.
Nov 6, 2013