Shun 'disastrous path' rooted in profit-driven economic models

Nobel-laureate interim ruler of Bangladesh Prof Yunus urges the world to move away from a "disastrous path" rooted in narrow, profit-driven economic models, as he highlights the importance of social business as a change-maker.

While deploring hindrances at home in the past to propagating his flagship initiatives, the Chief Adviser of the Interim Government of Bangladesh Friday said the then government had obstructed initiatives promoting social innovation, including denying permission for a university dedicated to fostering entrepreneurship and solutions to global social challenges.

Speaking at the inaugural session of the Social Business Day 2025, held for the first time at a facility developed by the Yunus Centre, the economist and microcredit pioneer recounted a litany of hurdles faced in hosting the annual gathering in Bangladesh.

"We spent a lot of money, energy, and time to build this facility (Samajik Convention Centre) because it was our dream," he said. "But we were not allowed to use it."

The inaugural session of the two-day Social Business Day programme was held at the Samajik Convention Centre in Zirabo, Savar, on the outskirts of Dhaka. The 15th edition of Social Business Day is being hosted jointly by the Yunus Centre and Grameen Group. This year, representatives from 38 countries are participating in the event.

Speaking as chief guest and keynote speaker, Prof Yunus, now the head of government in the interim period, told his audience that previous editions of the event had to be held in foreign countries like Malaysia and the Philippines due to restrictions at home.

"We had to stop holding Social Business Day in Bangladesh. It doesn't make any sense to anybody why anyone would obstruct a conference that has nothing to do with politics," he said, describing such taboos as "absurdity of the reality of life".

In his international appeal from the platform, Professor Yunus said, "The entire world is built on one dimension of the human being -- selfishness," he observed. "But human beings also have selflessness. Why should we be one-sided human beings?"

He said the existing narrative and institutional frameworks often ignore this selfless dimension. "We must unleash the selfless part of ourselves. Nobody is forcing you-just open it up."

This year's theme-'Social Business in Healthcare' -- was described by Professor Yunus as a timely and urgent choice. He asserts that neither pure profit-driven models nor charity could address the healthcare crisis plaguing the world.

"Healthcare has to come from the social-business angle. That's the only solution," he said. "It makes economic sense. It's not donation-based -- it's self-sustaining."

The Chief Adviser asserts that social business can change not only Bangladesh but also the whole world.

Social business is the only right way to ensure healthcare for everyone in the world, and through this it is quite possible to address the challenges of healthcare sector.

He cites examples of innovative social businesses in the healthcare sector that had grown from modest beginnings. "Many of you have seen it. You come back a year later and find something completely different -- creativity has its own way of expressing itself."

Turning to education, he voiced deep frustration at being barred from establishing a university aimed at promoting the philosophy of 'Three Zeros' -- zero poverty, zero unemployment, and zero net carbon emissions.

"We bought the land, we prepared for construction. They [government officials] said 'please don't apply, we cannot give you permission' even before we applied."

The proposed university, to be named Grameen University, would have been "dedicated to creating a new civilisation", with a curriculum rooted in dream-building, creativity, and entrepreneurship.

"We will tell students: if you are a jobseeker, that will bring shame to us," he added. "If you discover yourself, you'll not be a jobseeker. You'll be a creator."

Touching on global conflicts and what he called "a worsening global context", Professor Yunus lamented the recurrence of wars, including those involving Ukraine, Palestine, Israel, and the recent India-Pakistan tensions. "You thought finally we got rid of wars... and suddenly this year all kinds of terrible things started happening."

These tensions paint a "gloomy" picture.

Still, he remains optimistic about advances of human civilisation. "Do we go back into our caves? No. We chase dreams. Imagination is free. It costs nothing."

He reiterates that social business is not about overnight transformations but about "planting seeds", small changes that can spark global revolutions in thought and practice.

"If you don't start, nothing happens. If you don't imagine, nothing happens."

Praising the July upsurge that brought about regime change in Bangladesh, Dr Yunus said thousands of students last year poured into the streets demanding democratic reforms.

"Young people came out -- and said, 'enough is enough, get out'. They gave their lives, and in a few days they moved the country from extreme darkness to bright light," he told the meet, to gales of applause.

He made it clear that the protesters had not just done it for Bangladesh alone--it is for the whole world.

The Nobel laureate urged international delegates to walk Dhaka's streets and study the vivid protest murals splashed across city walls.

"These are not trained artists," he notes. "They are boys and girls drawing the world they want to build… Before monsoon rains wash them away, go and see them."

The two-day programme will feature five plenary sessions and eight breakout sessions focused on diverse perspectives and ideas.

At the inaugural session, a host of distinguished speakers highlighted the transformative potential of social business in addressing global challenges.

Chairman of Grameen Group Md. Ashraful Hassan gave detailed pictures of what Yunus Centre and Grameen Group are doing in Bangladesh and elsewhere in the world for social innovation.

Ismail Serageldin, former Vice President of the World Bank and Co-Chair of the NGIC, emphasised that true development must be bottom-up, rooted in dignity, solidarity, and the vision of social business.

Gwyn Lewis, UN Resident Coordinator in Bangladesh, described social business as a timely and essential response to growing global inequalities in healthcare.

Mitsuru Izumo, the founder of Euglena GG Ltd, recounted how a promise he made in Dhaka 27 years ago blossomed into a nationwide nutrition movement, made possible through the principles of social business.

Thomas Bach, Honorary President of the International Olympic Committee, praised Professor Yunus's lifelong dedication to unity and collaboration, acknowledging the far-reaching impact of the social-business movement.

Kady Kanouté Tounkara, Olympian and entrepreneur, delivered a powerful speech celebrating the transformative role of sport in empowering youth, uplifting women, and realising the vision of a world with three zeros -- and zero excuses.

Zenaat Islam, Relations Manager at the Yunus Centre, also addressed the gathering, alongside advisers of the interim government, who were present at the session.

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