Yunus Centre for Social Business opens in Glasgow

Glasgow Caledonian University (GCU) in Scotland launched “Yunus Centre for Social Business and Health” in a ceremony attended by academics and the elite of Glasgow on July 5.
The centre has been established by GCU to carry out action research to find solutions to social problems, including the critical issue of access to microcredit and affordable healthcare, according to a message received here yesterday.
A leading health economist of the UK Prof Cam Donaldson has been appointed as “Yunus Professor” to lead the centre in implementing its objectives.
On the occasion of the opening of the centre, Prof Donaldson gave the inaugural lecture of the Yunus Chair titled “Markets and Health in the Home of Adam Smith and Yunus” referring to father of modern economics Adam Smith who studied and taught in Glasgow, and Prof Yunus who created the concept of social business.
The Yunus Chair was established at the GCU in early 2010.
Through the partnership with GCU, a series of social businesses will be created in Scotland to bring job opportunities to families who have been dependent on welfare for generations.
As a first step, GCU and the government of Scotland are preparing to set up “Grameen Scotland”–a microcredit bank in Glasgow along the lines of Grameen Bank in Bangladesh.
Former British premier Gordon Brown made a special appearance at the event to have a meeting with Prof Yunus on the occasion of the latter’s visit to Glasgow.
Vice Chancellor of GCU Pamela Gillies presented Prof Yunus with a rare first edition of Adam Smith’s book “The Theory of Moral Sentiments”.
To take advantage of Prof Yunus’s visit, GCU organised a high level meeting attended by John Swinney, finance minister of Scotland, Pamela Gillies and six heads of foundations and companies to discuss the business plan of the bank.
The main target group of the microcredit bank would be individuals who belong to families who have been on welfare for four generations in Glasgow.
The finance minister pledged his full support to the bank, including facilitating appropriate legal framework for the initiative.
With the collaboration of GCU, Grameen has already launched the Grameen Caledonian College of Nursing in Bangladesh.
Prof Yunus, who was in Glasgow from 3-6 July, also signed a memorandum of understanding for collaboration with Prof Anton Muscatelli, vice chancellor of the 600-year-old University of Glasgow to develop close collaboration between the university and Grameen to build academic programmes on social business.
The university also organised a daylong conference on social business, with Prof Yunus as chief guest, attended by delegates from many countries.

Courtesy of BSS via The Daily Star