KUALA LUMPUR, 19 February 2017 - Universiti Sains Malaysia (USM) has become one of the pioneer members, alongside four other local institutions, in the smart partnership network of the Malaysian Yunus Social Business (MYSB).

Apart from USM, others in the network established by Nobel Laureate recipient, Professor Muhammad Yunus from Bangladesh are Universiti Kebangsaan Malaysia, Universiti Teknologi Petronas, Darul Ridzuan Institute and Yayasan MyHarapan.

This local network would then form a global network for Asia-Pacific, with a Memorandum of Understanding (MoU) expected to be signed this March.

This network is the first initiative from the Yunus Centre Network, with others already established in countries such as Spain, Germany and the United States of America, with the role of creating a business platform that has the capacity to empower the bottom billion in the community and to end global problems relating to financial sustainability.

MYSB would be located in USM at the Graduate School of Business (GSB).

It would also form the basis in instilling creativity in the world of social business in the younger generation, which could become a sustainable alternative in bridging the gap between practising business and promoting philanthropy.

Social business is a form of business with a social aim as its basis in its long-term objective.

Differing slightly from ordinary businesses, social business is developed as a solution to the bottom billion community and to assist in ensuring financial sustainability for them through business activities.

In line with the mission of USM to apply sustainable practices, MYSB will become a platform for the university to draft programmes with strategic partners from various countries, in strengthening social business practices and to produce more 'job creators' from among its graduates.

Translation: Mazlan Hanafi Basharudin