Dr Muhammad Yunus appointed chancellor of Malaysian university

Nobel laureate Dr Muhammad Yunus, founder of Grameen Bank, has been appointed the inaugural chancellor of Albukhary International University (AIU) in Malaysia, reports the New Straits Times.

Yunus, who is also the chancellor of Glasgow Caledonian University, UK and the Chairman of Yunus Centre, is appointed based on his contribution, knowledge, expertise and experience in developing the world-recognised social business agenda.

"His appointment as Chancellor of AIU is in line with the Philosophy, Vision and Mission of the establishment of AIU to develop graduates or future leaders who are adaptable, balanced, well-rounded individuals, willing and able to serve humanity, acting as change agents in respective communities through Social Business agenda," the report quotes Vice Chancellor and President of AIU Prof Dr Abd Aziz Tajuddin as saying in a statement.

"The application of social business values, especially the Seven Principles of Social Business introduced by Professor Muhammad Yunus is implemented through the curriculum, academic, non-academic and research activities that would add value to students who are expected to be successful Social Entrepreneurs upon graduation," the statement added.

The founder of Grameen Bank and father of microcredit, an economic movement, has helped lift millions of families around the world out of poverty.

Today, Grameen Bank has over 8.4 million members -- 97 per cent of them are women -- and has lent over US$12.5 billion since its inception.

Among Yunus' many awards and honours include all the three highest US civilian awards (Presidential Citizens Medal, the Presidential Medal of Freedom and the Congressional Gold Medal).

He is also one of only seven people in history that has received these awards, along with recipients Martin Luther King Jr, Mother Teresa and Nelson Mandela.

He has written four books about micro-lending and social business: "Banker to the Poor" (2003), "A World without Poverty: Social Business and the Future of Capitalism" (2008), "Building Social Business" (2010) and "A World of Three Zeros" (2017).

In 2009, Forbes named Professor Yunus one of its "10 Most Influential Business Gurus."

AIU was founded by Tan Sri Syed Mokhtar Albukhary and placed under the Albukhary Foundation.

It is a non-profit private higher education institution, with a primary focus on the field of higher education, especially in providing opportunities to obtain tertiary education to outstanding students yet, from the financially-deprived family background.