Yunus signals danger of profit-only motive

United News of Bangladesh . Dhaka | Published: 01:20, Jul 07,2019


Nobel laureate Professor Muhammad Yunus has said the world will soon face extinction if businesses and industries continue to pursue the single-minded pursuit of only profit.

He underlined the urgency of stopping the process to let human beings survive saying time is running out very fast.

‘We must act decisively and very fast,’ said the Nobel laureate while addressing top industrialists of Russia in Moscow.

A dinner party was hosted in honour of Professor Yunus by the chairman of Chamber of Industrialists and Entrepreneurs of Russia in Moscow, said a press release on Saturday.

Professor Yunus was given a guided tour of the famous Moscow Museum called ‘Collection’, founded by David Lakobachvili.

This museum claims to hold the largest private collections in the world, which contains more than 20,000 items of global cultural heritage.

Professor Yunus was invited by the governor of the Central Bank of Russia to address the 28th International Finance Conference in St Petersburg.

On his way to St Petersburg an elaborate programme was organised for him in Moscow by Microfinance Association of Russia and Our Future Foundation.

The focus of the programme was addressing the International Social Business Day celebration.

This included a press conference on social business addressed by the leaders of microfinance and social businesses and deputy minister of economic development.

The International Social Business Day is celebrated in Russia every year on June 28, following the initiative of Yunus Centre in Bangladesh.

It is celebrated nationally since 2013. The events arranged this year on this day brought together social entrepreneurs, senior authorities, public organisations and passionate stakeholders who want to tackle underlying issues plaguing our society.

Since 2013, 518 events in 67 regions have been hosted, involving more than half a million people in Russia.

Launching of Professor Yunus’s book ‘A World of Three Zeros’ in the Russian language was the part of the celebration.

A special edition of the book was printed for this occasion which was jointly sponsored by the Microfinance Association of Russia, and Our Future Foundation.

Professor Yunus had lunch with Professor Mikhail Eskindarov, rector of the Financial University of Russia, one of the leading Russian universities.

He was joined by deputy rectors. The Rector announced his decision to set up a Yunus Social Business Centre in the university.

As part of these annual events roundtables, social business design contests, seminars, workshops, lectures, open door days for social projects take place all over Russia.

The agency for strategic initiatives, OPORA Russia, Business Russia, Russian Chamber of Industrialists and Entrepreneurs and the leading educational institutions of the country act as partners of these celebrations.

Our Future Foundation and Microfinance Association of Russia play central role in organising the annual celebration.

The major topic of discussion at the conference this year was ‘Review of results of the International Social Business Day celebrations in Russia’ - where the future of social entrepreneurship development in Russian regions in relation to the legal status of social entrepreneurship and social businesses was discussed.

Along with Professor Yunus, other eminent speakers at the event included Sergei Katyrin, president, Chamber of Commerce and Industry of the Russian Federation, Natalia Zvereva, director of Our Future Foundation as well as director of the Fund for regional social programmes Vadim Zhivulin, deputy minister of economic development of the Russian Federation, Mikhail Mamuta, head, Service for Consumer Protection and Financial Inclusion, Bank of Russia, Dmitry Sazonov, member of the State Duma (Russian Parliament), deputy chairman of the committee on economic policy, industry, innovation development and entrepreneurship.

Want stories like this in your inbox?

Sign up to exclusive daily email