Work-Life HOME : BabaOHome- Multidimentinal and social business concept of Dr. M. Yunus

Giant US Corporations and Unipolar world order, America by force are alarming, endanger the sustainable growth, trinity, and Balance of Power. The bailout is only a pile to relieve head ac. A cosmatic show to manipolate public suppot. The alternative- multidimensional and social business concept A CHANCE to save the world- Peace. A BabaOhome, lekubd step towards masters, war, terror, corruption-free FNF Global home vision :

An Exclusive interview with Dr. Muhammad Yunus, Nobel Laureate 2006 By Microfinance Focus

Dr. Yunus gave an exclusive interview to the “MICROFINANCE FOCUS – a global magazine on microfinance and sustainable development” at the Reception Dinner on 30th March 2009 on the eve of the Sa-Dhan’s National Microfinance Conference 2009 being organized at New Delhi.

Here are the excerpts from the interview:

MF FOCUS: Microfinance is an established and recognized instrument for fighting poverty today. Many people are confident and it gives hope, poverty can be eliminated. Isn’t it too simple just to rely on microfinance?

Dr. Yunus: You don’t have to. Nobody is forcing you to do that. If somebody wants to do Microcredit – fine. I wouldn’t say this is something everybody should have. Nobody says it is the only solution. Human beings are very multidimensional. Microfinance is one of the many, many things.

MF FOCUS: Social business is an additional way. Do you identify enough potential for social business to make a real difference, globally?

Dr. Yunus: Yes of course. Definitely, it is a global and not a local issue. There are two kinds of businesses: One is business to make money, the other business is to change the world. The one to change the world and not to have any personal gain from that. It is all dedicated to making a difference. It is addressing a social issue. Resolve it, you can do that.

MF FOCUS: What are all the factors making social businesses successful?

Dr. Yunus: A good business plan, good ideas, and creativity in the most creative way.

MF FOCUS: Microfinance, as well as Social businesses, have to be highly efficient. How is it possible to maintain or re-introduce the social mission back into microfinance?

Dr. Yunus: Whenever something gets popular, actually catches attention, some people take advantage of that and misuse it. It happens in everything. When Big brands are popular, it gets imitated by fake ones. The same thing happens with microcredit: People name it microcredit but in fact, it is not microcredit. It is something completely different.

People have to be made aware of what microcredit is and why it is important to stick to the real microcredit and not one with a different motivation.

But while you are looking at microcredit itself, even good people may have wrong ideas, which makes them shift away from the whole idea, the mission. We have to be very careful to remind ourselves, what is our mission. That is why we have meetings like this, to rediscover your mission and then re-adjust your work to the mission.

MF FOCUS: To build an enabling environment for social entrepreneurs, what governments should do, and what regulations do you count as important?

Dr. Yunus: It is very important. Very Important!! Regulation is very important but at the same time regulation can be stifling, destroy the whole business by overregulating and make it impossible to function. It is like a mother and a child. You know how you have to change your child to do the right things. At the same time, you should not control your children so that it loses all its initiative. It is like becoming a prisoner in the hands of the mother. Regulation should be promotional, a Cheerleader. At the same time, make sure you do the right thing and don’t drift away from the real principles. It is a tough job in the sense you have to balance both: How to encourage, and at the same time how to restrain.

MF FOCUS: Due to the financial and economic crisis development funds were cut by the north. Where do you see the responsibility of rich countries in fighting poverty? Where should they act?

Dr. Yunus: See…The southern countries didn’t create the crisis, they are the victims of the crisis. It is only one country that created the crisis and it spread all over. Those who were involved in creating this crisis also have a moral responsibility to make sure that the victims are supported. There are a lot of people suffering, that has to be taken care of. Now they are busy making bailout packages and all the support. And I am saying …At least 10 % of all bailout packages everywhere should be earmarked for victims in the third world. Those things have to be built into the system.

MF FOCUS: Apart from poverty there are many topics, which can be solved or bargained only on an international level: Climate Change for example. Nicholas Stern is convinced, we have to solve both topics together: Poverty and Climate Change.

Dr. Yunus: Well, the financial crisis is the latest. 2008 had the food crisis, which is still here. Simply front pages have been taken over by financial crisis and have pushed away all discussion about the food crisis. 2008 was also the year of the energy crisis – the oil prices shot up to the sky. It didn’t disappear, it is lying low for a while. And also this is a perpetuating environmental crisis. All these crises have their roots in the same thing. These are not separate crises. You have to adjust the root causes then you are adjusting all of them. The root causes are the wrong structure, the capital structure we have. We have to redesign the structure we are operating in. Wrong, unsustainable lifestyle. We have to take a hard decision! We and each one of us must make a decision on this planet. And also we should inculcate among our children a simple way of living. We should not live in a way, that harms another person. Once you take this decision, everything will be solved. We have no right to live a life that is harming anybody else. It is like traffic laws: You can’t have a car and knock everybody off the road. There’s a rule you have to drive safely so that you don’t harm anybody. The same thing is for living on this planet. We are sharing with each other.

MF FOCUS: Grameen Bank has moved to Grameen II methodology, still Grameen replicators in India follow the Grameen I, model. Do you think they should explore such a flexible methodology?

Dr. Yunus: It is up to them, what they like….. I can not advise. We thought we can solve some of the problems. we see the opportunity that we have by relaxing our procedures and rules to make it more friendly.

MF FOCUS: What is the next level for Microfinance and how to take it forward?

Dr. Yunus: Next level is to enter into Insurance, pension funds, second-generation issues young children coming up…. growing up…………….. to make them into better citizens to deal with life.

MF FOCUS: Savings product is much needed by the poor. Regulation is cautious not to allow the collection of savings by a certain category of MFIs. What is your opinion?

Dr. Yunus: Savings product is very important. Change the law!!! Keep on insisting that the system is right.

MF FOCUS: With a Microfinance focus, the monthly magazine, we are working on information exchange and promoting Best practices. How important are projects like Microfinance to focus on the sector?

Dr. Yunus: Yeah! This is a good initiative. Communicate…… I mean….. Let the people know what is happening, what is right, what is wrong, so they can participate in debate, discussion, make it more efficient, more cost-effective, and more friendly to take home.

Courtesy: By University ALumni Friend: