Malaysian state keen to introduce social business

Perak, a Malaysian state, has shown interest to introduce social business with the help of Yunus Centre in Dhaka.

Zambry bin Abdul Kadir, chief minister of Perak, expressed the interest while visiting Yunus Centre yesterday.

Kadir, along with a 46-member delegation, held discussions with Nobel laureate Prof Muhammad Yunus, according to a statement.

“We need to build an entirely new framework of economic theory to undo the problems created by the existing system,” Yunus said at the meeting.

Yunus, also the founder of Grameen Bank, hoped Perak would take initiatives to convert some of the charity-based programmes to social business ventures.

Institut Darul Ridzuan, a public policy think-tank for the Perak state government, and Yayasan Bina Upaya Darul Ridzuan, a non-profit organisation that works to eradicate poverty in the state, signed a memorandum of understanding with Yunus Centre to promote social business in Perak.

Kadir also invited Yunus to be the chief guest at the Pangkor Dialogue, a conference in Perak, which takes place every year to hold discussion on international development based on sustainability and inclusive growth.