Australian university to open Yunus Social Business Centre

The University of New South Wales (UNSW), Australia has decided to open Yunus Social Business Centre that will work on promoting the social business concept as well as its practice as a way to tackle social problems.

The UNSW, located in Sydney, made the announcement when Nobel Laureate Professor Dr. Muhammad Yunus visited Australia from October 8 to 11, said a Yunus Centre press release on Monday.

Prof Yunus and deputy vice chancellor of the university Prof Les Field signed an Memorandum of Understanding (MoU) to this effect on October 10. 

During his stay in Australia, the Nobel laureate also participated in a number of programmes.

Prof Yunus attended the 10th Annual Conference of the Bangladeshi Architects as the chief guest at Sydney Opera House on October 9; and participated in a roundtable discussion organised by Impact Investing Australia, Centre for Social Impact at the UNSW on October 10.

He also addressed a corporate luncheon hosted by Grameen Australia and Asialink, a think tank of Melbourne University, on the day. 

Speaking on the occasion, Prof Yunus pointed out that unemployment is a plague that is eating away the youth.” With no fault of their own, the system, owing to its inconsistencies, is barring them from utilising their entrepreneurial potentials.” 

Besides, he delivered a public lecture organised by the Monash Business School at the Robert Blackwood Hall of Monash University in Melbourne on October 11.

Professor Yunus was awarded the Nobel Peace Prize in 2006 and the US Presidential Medal for Freedom in 2009 for his work as the founder of Grameen Bank. 

Grameen Bank provides small, low-interest loans to the poor in Bangladesh as a means to lift people out of poverty. This model of ‘microfinance’ has been replicated around the world.