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Quote onscreen:
One day our grandchildren will have to go to museums to see poverty

Dr. Muhammad Yunus:
Poverty is not created by the poor people, poverty is imposed on them, they are the victims of the system so in order to change the system, we have to give them the tools.

Narrator:
He revolutionized banking to allow low income borrowers access to credit. He has enabled citizens of the world's poorest countries to create profitable businesses and inspired millions worldwide to imagine their own potential. Professor Yunus is proving that all it takes is a little financial credit and a dose of human kindness to help the poor progress out of poverty. Feeling helpless and longing to ease the suffering of Bangladeshi villagers during the 1974 famine, he gave 42 of the most impoverished a total of $27 in loans to help build businesses. It was a gift of freedom they all happily repaid. Their success sowed the seeds and inspired him to create a global economic model now known as microcredit that continues to blossom today. Yunus founded the Grameen bank in 1983 and today over 9 billion dollars in collateral free loans have been dispersed to over 8 million borrowers, a recovery rate of 98%. Professor Yunus believes credit is a human right and unveils the true potential of the borrower.

Dr. Muhammad Yunus:
If you look at Bangladesh for the last 25, 30 years the most dramatic thing that happened to Bangladesh is the empowerment of women, women have completely different kind of a status today in Bangladesh than it was ever before.

Interpreter:
She also joined with the Grameen Bank for 27 years, she also received 60,000 Taka from the bank and she uses this money toward the fish culture. She leased the pond from the villagers and she cultured the fish there.

Narrator:
Before they had access to loans, women's status was marginalized but once they engaged in business, the social structure of the village changed. For the first time they got together socially, they talked about business strategies. For the first time they had a sense of self and personal growth. The economic, social and political impact of social business is what California State University Channel Islands students target and experience.

Dr. Muhammad Yunus:
Young people take a lot of interest but classrooms don't teach social business so we need to bring the academic world integrated into this ideas and I was very happy when I met professor Rush, President of California University Channel Island and I was very impressed that professor Rush and his faculty members have dedicated to create a new kind of generation.

Julia Wilson:
The next generation of business political and social leaders is sitting in our classrooms today. They are the ones who will inherit vast global concerns such as climate change, environmental degradation, malnutrition and poverty. As educators we are committed to giving our students the tools that prepare them to face these challenges.

Steve Hilton:
To me he's a legend and the fact that Mohammad Yunus has this affiliation with Cal State University Channel Islands is huge.

Dr. Muhammad Yunus:
California Institute of Social Business: their education is education for the future, they want to have education, not based on the past so the institute becomes the kind of seed developer, so that seed can now be replicated everywhere.

Dr. Richard Rush:
He is considered one of the most influential men of our time, not because of his politics, he has no political agenda and not because of a financial agenda but because he has dedicated his life to the alleviation of poverty through the empowerment of women.

Dr. Muhammad Yunus:
So the system is not working now, this is the best time to redesign it, recalibrate it, so that we don't go back to the same normalcy because if you go back to the same normalcy, you'll go back to the same crisis today or tomorrow some day later, so we have to get out, we have to create a new track, social business becomes a very important piece.

Narrator:
California Institute for Social Business Channel Islands.

Michael Okwu:
We have time for a few more questions.

Dr. Muhammad Yunus:
Sure.

Michael Okwu:
As you know this is a very big day for the university

Dr. Muhammad Yunus:
Indeed it's very historical day, I must say.

Michael Okwu:
The California Institute of Social Business, the first of its kind in the world.

Dr. Muhammad Yunus:
The whole world yeah.

Michael Okwu:
In a nutshell how do you think that institute is going to promote social business around the world?

Dr. Muhammad Yunus:
Like you are curious about social business, there are many here who'll be curious about social business. An institutes job would be to make it clear to people, what is this social business. They will have courses, they will have training labs, they will have students, business people coming in, trying to design social business and see what is the meaning in that and just the problems they see around them, like if they're designing a social business in California for example, they will probably look at the welfare system, people who are on welfare year after year, can't make a job, can't find a job so they will try to create a social business to get people out of welfare, that will be their social  business.

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