Like any other idea, that of social business is subject to being misused and perverted. A few powerful people will look for ways to distort the conce… - Muhammad Yunus

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Like any other idea, that of social business is subject to being misused and perverted. A few powerful people will look for ways to distort the concept and twist it for their own benefit — just as some misguided people have applied the term “microcredit” to describe companies that are really just loan sharks in disguise. Well-intentioned people will need to be on guard against those who would abuse the good name of social business.

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About Muhammad Yunus

Muhammad Yunus (Bengali: মুহাম্মদ ইউনুস Muhammod Iunus) (born June 28, 1940) is a Bangladeshi banker and economist. He is the developer and founder of the concept of microcredit. In 2006, Yunus was awarded the Nobel Peace Prize.

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Also Known As

Native Name: মুহাম্মদ ইউনুস
Alternative Names: Professor Muhammad Yunus Muhammad Iunus
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Additional quotes by Muhammad Yunus

People like Sufiya were poor not because they were stupid or lazy. They worked all day long, doing complex physical tasks. They were poor because the financial institutions in the country did not help them widen their economic base.

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In Bangladesh, if a woman, even a rich woman, wants to borrow money from a bank, the manager will ask her, ‘Did you discuss this with your husband?’ And if she answers, ‘Yes,’ the manager will say, ‘Is he supportive of your proposal?’ If the answer is still, ‘Yes,’ he will say, ‘Would you please bring your husband along so that we can discuss it with him?’ But no manager would ever ask a prospective male borrower whether he has discussed the idea of a loan

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