Thursday
September 20
2018

New Yunus Social Business Centre to be established in Malaysia

Nobel Laureate Muhammad Yunus recently signed a memorandum of understanding (MoU) with the Sunway Education Group (SEG) founder Tan Sri Dr Jeffrey Cheah endorsing the establishment of the new Yunus Social Business Centre (YSBC) at the Sunway City campus.

Yunus, a Nobel Peace Prize winner in 2006, was awarded for his work in founding microcredit institution Grameen Bank.

To date, the bank has disbursed collateral-free loans of US$24 billion (RM99 billion) to around nine million borrowers who depend on microcredit loans to start enterprises that lift people out of poverty.

Photo courtesy of University of Salford Press Office.

Source: theSun (link opens in a new window)

Tags
microcredit, microfinance, poverty, poverty alleviation, social business, social enterprise, social impact