CENTRE FOR SELF-HELP DEVELOPMENT

Institute of micro-finance and cooperative development.

Following the Path of Social Business: 9th Social Business Day Successfully Concludes in Bangkok, Thailand

From June 28 – 29, 2019 over 1,500 delegates from across the world came together to celebrate and take forward social business on a global scale at the 9th Social Business Day (SBD) held in Bangkok, Thailand. Organized by the Yunus Centre, Bangladesh, this year, the event was hosted by the Yunus Centre at the Asian Institute of Technology with local support from the Yunus Social Business Centre Kasetsart University and the Thailand Social Business Initiative.

The 9th SBD revolved around the theme of ‘Making money is happiness, making other people happy is super happiness’. In his opening address, Nobel Peace Laureate Prof. Muhammad Yunus spoke about the global issues of poverty, unemployment and carbon emissions. He emphasized, “These are the key issues of our society that require attention of the people from all disciplines.”

The theme of this year’s SBD was widely applauded and presentation of various social business organizations displayed the validity of the theme in the present day context. As one of the largest gathering of the social business community, the conference served to highlight developments in the field of social business and to provide social entrepreneurs the opportunity to connect with established individuals in the field. Experts, academics, innovators and aspiring business owners were brought together at the two-day event to discuss on taking forward the social business phenomenon.

 

On the first day, Chairman of CSD, Mr. Shankar Man Shrestha moderated a panel session on ‘Social Business Microfinance’ where the speakers representing various social business organizations shared their experience and unanimously agreed on the need to maintain microfinance as a social business. The speakers expressed their concern about the growing trend of profiteering among the MFIs ignoring the philosophy and principles of microfinance. The speakers were eminent microfinance and social leaders from Bangladesh, Malaysia, the Philippines, Thailand and the USA.

Summing up the session, Mr. Shrestha said, “The youth today are the promise of our tomorrow. They have boundless talent, creativity and skill-set. Provided they have guidance and access to financial and technical support, they can change the scenario of the world.”

“Some institutions plough back their profit and invest in their members and their children. However, today’s new breed of MFIs that are commercialized and profit oriented needs to be reoriented on social business microfinance. We must not ignore our social responsibility and allow our youth to be a wasted generation,” pointed out Mr. Shrestha.

The delegates from more than 65 countries discussed on and shared their experience on topics relating to the intersection between social business and technology, healthcare, youth leadership, sports, arts, microfinance and the environment.

At the closing ceremony, under the initiative of Prof. Yunus, the delegates at the conference pledged to work towards a cleaner and greener environment and achieve zero net carbon emissions. Prof. Yunus concluded by saying, “There are many flaws in the capitalistic tools to solving the problems facing our planet. We must go ahead with the social business tools. If we want to reach a new destination, we have to build a new road.”

“Each human being possesses unlimited potential and power. Let us unleash and make use of the vast potential and creativity and save our planet without any delay and without waiting for anybody,” urged Prof. Yunus.

The conference illuminated various ways in which individuals from around the world can come together and effectively create solutions to pressing issues faced by our society through the power of social business.

Under the coordination of CSD, twenty-five microfinance officials from Nepal attended this august occasion. The officials included representatives from RMDC Laghubitta Bittiya Sanstha Ltd., Aatmanirbhar Laghubitta Bittiya Sanstha Ltd., EDCOL, Citizen Investment Trust, Nawaprativa SACCOS Ltd., Mirmire Laghubitta Bittiya Sanstha Ltd., Shrijanshil Laghubitta Bittiya Sanstha Ltd., Nerude Laghubitta Bittiya Sanstha Ltd., Upakar Laghubitta Bittiya Sanstha Ltd., Unique Nepal Laghubitta Bittiya Sanstha Ltd., Solve Laghubitta Bittiya Sanstha Ltd., Forward Community Microfinance Bittiya Sanstha Ltd., Nagbeli Laghubitta Bittiya Sanstha Ltd. and Kisan Microfinance Bittiya Sanstha Ltd.

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