The Bill and Melinda Gates Foundation, founded in 2000 and with assets valued at $30 billion, has already made its mark financing projects to eradicate deadly diseases like malaria, tuberculosis, diarrhoea, and Aids in Asia and Africa.

From Bangladesh to Botswana, the Gateses have funded programs driven by cutting-edge science to develop, test, and manufacture drugs and vaccines for diseases that kill millions of children every year.

One good thing begets another. In this case, did it ever!

Investment guru Warren Buffett, the second-richest man on the planet and a close friend of numero uno Bill Gates, pledged $30 billion dollars to the Gates Foundation, overnight doubling its assets to $60 billion dollars.

That's the kind of cash that can transform the world. Yet the history of philanthropy is littered with huge endowments gone horribly awry. Why should this be different?

Two words: Bill and Melinda.

The couple has turned traditional philanthropy on its head by marrying charity to accountability, management, rigour, research, and result. The qualities that allowed Gates to build Microsoft into the powerhouse that it is today are also qualities that animate the foundation: curiosity, a relentless attention to detail and a desire to confront the most intractable problems head-on.

Of course, reducing social inequities and improving lives around the world are not the same as solving engineering and mathematical problems, however complex.

Still, applying scientific rigour on unwieldy issues of global health and universal education can only lead to more insights, as various projects that the foundation has undertaken in the direst regions of Africa show. And more insights often mean a greater chance of success in these thorny human issues, even if the initial approaches fail.

Gates modelled his philanthropic philosophy after a mathematician. In the year 1900, the great German mathematician, David Hilbert, outlined 23 major mathematical problems that he believed would dictate research in the field in the following century (about half of these problems are still unsolved). Taking a cue from Hilbert, Gates challenged scientists, physicians and health-care professionals in 2003 from around the world to draw up a list of grand challenges in global health.

After intense research and debate, investigators produced a list of 14 "global challenges" in seven categories: improve childhood vaccines (3), create new vaccines (3), control insects that transmit agents of disease (2), improve nutrition to promote health (1), improve drug treatment of infectious diseases (1), cure latent and chronic infections (2), and measure disease and health status accurately and economically in developing countries (2).

It is this laser-sharp focus on priorities that persuaded Warren Buffett to entrust his wealth to Bill and Melinda Gates, instead of creating his own foundation.

There are many high-profile personalities who are leading by example to usher in a golden and dynamic era of philanthropy. The actress Angeline Jolie, for example, donates one-third of her income to charitable causes in the poorest nations of the earth. As a goodwill ambassador for the UN Refugee Agency, she has travelled to Afghanistan, Pakistan, Sierra Leone, Sudan, Rwanda, and Ethiopia to stir the world's conscience about the plight of the hungry, the ill, and the homeless.

But what about the rest of us, neither famous nor millionaires? Is there anything we can do to touch lives less fortunate than ours?

There are millions of Bangladeshis (including many living abroad) who are doing precisely that: sponsoring a child, pooling resources to build schools and clinics, donating books to libraries, buying textbooks for orphans, creating scholarships for poor but meritorious students. The means of charity are endless, tangible and intangible. What counts is that we make the extra effort to do the best we can, to lift a burden here and bring a smile there, to forgive a debt, to give hope to a beaten spirit, to ... fill in the space and just do it. No charity is too small and no giving from the heart ever leads to poverty.

The tragedy is that millions of us are also self-absorbed narcissists who have no margin in our lives for others, who remain adamantly blind to the inequity around. But it is never too late to change.

In a visit to Bangladesh last December, Bill Gates described his meeting with seamstresses and other women entrepreneurs in a village as "a religious experience." He was particularly impressed by how micro-credit, pioneered by Grameen Bank and promoted by Brac and other organisations around the world, is transforming the lives of women. This first-hand observation undoubtedly played a pivotal role in his recent resolve to make micro-credit a salient feature of his foundation.

Perhaps one of the greatest gifts of the new era of philanthropy we are now witnessing will be to curb various kinds of extremism. When people are freed from the ancient curses of ill health, poverty, ignorance, and debt, and their children survive to lead productive lives, the world will become a better place for all.

Currently, Bangladesh seems to be in the grip of a particularly venal form of religious extremism in which a minority of zealots are persecuting Ahmadiyyas. To these zealots we say: It is up to God, and God alone, to decide who is a Muslim and who is not. You commit the gravest of sins if you attempt to usurp the right that is uniquely God's. Back off! Use your energy to do good to your fellow humans. Do it out of the charity of your heart, even if you cannot do it in the name of God.

Hasan Zillur Rahim is a computer scientist based in San Jose, California.