Friday July 15 marked the launch of the Nobel Laureate in Residence program at the University Kebangsaan Malaysia (UKM or National University of Malaysia) in Bangi, Selangor.

2006 Nobel Peace Prize winner Professor Muhammad Yunus accepted to become Laureate-in-Residence at UKM, and delivered the inaugural lecture to an audience of 2000+ faculty and students on Friday on the theme of social business as a way to solve society's most pressing problems.

The Vice Chancellor of the University, Dato Dr. Sharifah Hapsah Syed Hasan Shahabudin introduced Professor Yunus and the background to the program. The program was officially inaugurated by the Secretary General of the Ministry of Higher Education of Malaysia.

The Ministry of Higher Education of Malaysia initiated the Nobel Laureate Program in 2001, inspired by a vision of former Prime Minister Mahathir Mohamed to generate a Malaysian Nobel Prize winner by 2020. The government has developed strategic plans to make this vision a reality and has allocated special resources to develop the necessary infrastructure and human capital for this purpose. The UKM's Nobel Laureate in Residence program is part of that overall strategy.

Bowles has met Nobel Peace Prize Winner Mohammad Yunus in Strasbourg to discuss social business, or enterprises that make a social impact but no loss or dividend.

Yunus believes the current capitalist stock markets do not cater for "the selfless dimensions of the people."

He wants a market to trade shares of social businesses. "An investor will come to this stock-exchange in order to find a social business, which has a mission to his or her liking, just as someone who wants to make money goes to the existing stock-market," says Yunus.

Yunus says the social stock market would need social ratings agencies, terminologies and reporting formats similar to capitalist markets.

Bowles says Europe is an obvious place for a social stock exchange and London could be the social stock centre. But she admits: "That could only happen if UK involvement in the project took-off."

European Commission President José Manuel Barroso said after meeting Yunus on Wednesday that strengthening social business "is a concrete way to help the poorest of the poor."

Bowles says she hopes to attend an international conference on social business in Austria in November.

Source: http://www.gfsnews.com/article/2334/1/MEP_wants_EU__social_stock_exchange__in_UK/&print=1

Nobel Peace Laureate Professor Muhammad Yunus met with European Commission President José Manuel Barroso at his office in Strasbourg on July 6, 2011. They discussed the role of EU in promoting microcredit and social business around the world. Professor Yunus thanked President Barroso for his personal support to social business, which could be a concrete way to solve the social problems around the world.

European Commission President José Manuel Barroso made the following statement to the press after his meeting with Professor Yunus.

"I would like to express the EU's recognition for the successful work of Professor Yunus, whose tireless commitment deserves our profound respect. Strengthening social business and promoting innovative methods of accessible finance is not only a matter of justice. It is also and a concrete way to help the poorest of the poor and a smart investment in our shared future. The European Commission will therefore continue its substantial aid to micro-credit projects across the globe."

They also discussed the introduction of appropriate laws and regulations in the European Parliament that would support the development of social business.

Professor Yunus also attended a session in the European Parliament. President of the parliament interrupted the proceeding of the parliament to announce the presence of the Nobel Laureate Professor Yunus in parliament as a distinguished guest. Parliament gave a big applause to greet him in the parliament.

Later the Parliament President Jerzy Buzek received him in his chamber. He made the following statement to the press:

"Microcredit should be supported around the world. I would like to welcome in particular the microcredit facilities in Bangladesh - the native country of Professor Yunus." Buzek also praised the concept of social business, pioneered by Professor Yunus and hoped to work on ways to help new partners connect with social business.

Mr. Buzek, former Prime Minister of Poland invited Professor Yunus to Poland to introduce social business to the business leaders of Poland. He offered to organize the tour of Professor Yunus to Poland.

2006 Nobel Laureate Professor Muhammad Yunus met with the European Parliament President, Jerzy Buzek on 6th of July 2011. After the meeting, President Buzek made the following statement:

"Microcredit should be supported around the world.

The meeting with Professer Yunus was enlightening and instructive. His work on microcredit should be supported around the world. I would like to welcome and support in particular the microcredit facilities in Bangladesh - the native country of Professor Yunus. This work improves the lives of many people, especially women and their families. Social business supports job creation and inspires creativity among young people.

It was remarkable to hear from Professor about microcredit in New York City [where Grameen America is operational] has a 99.3% repayment rate. Microcredit works well in both developing and developed countries."

After his meeting with 2006 Nobel Peace Prize winner Professor Muhammad Yunus, European Commission President José Manuel Barroso made the following statement:

"I would like to express the EU's recognition for the successful work of Professor Yunus, whose tireless commitment deserves our profound respect. Strengthening social business and promoting innovative methods of accessible finance is not only a matter of justice. It is also and a concrete way to help the poorest of the poor and a smart investment in our shared future. The European Commission will therefore continue its substantial aid to micro-credit projects across the globe."