My Brief Encounter with Muhammad Yunus, the Nicest Banker I Know
A student reflection by Sohair Omar, MPP Class of 2010
May 26, 2010
There was a lot of commotion in the lobby of the Hilton Chicago hotel, businessmen coming and going. I had butterflies in my stomach as I waited for Muhammad Yunus to arrive.
I’ve been learning about his work for years, how his group-banking model has helped more than 8 million people, mostly women, start businesses in small villages around the world. He believes that poor people are worth investing in, despite their limited collateral. Now other banks are following his lead, helping people help themselves. It’s better than charity. He won the Nobel Peace Prize for this, though you would have never guessed it as he came walking down the hallway toward me.
He was really calm and looked exactly the way he does in pictures, wearing a tan vest over a kurtha—a long shirt that came down to his knees. I liked that he wasn’t wearing a suit. He just said, “Ready to go?” He was in town touring for his new book and accepted our invitation to do a signing at the University of Chicago that evening.
Driving to campus, he sat in the back seat with me and his publicist. At one point, I asked if he used a special pen to sign his books, and he laughed. His publicist mentioned how some authors sell the pens they use on book tours, and Yunus said, “Oh, another business opportunity!” He was constantly thinking of new business ideas. Later, on stage, he explained why.
He began his lecture by rattling off a number of his past and potential projects. All of them had one theme—they took a social problem and created a business to solve it. He talked about creating call center jobs for the blind, and how he recently partnered with Adidas to make affordable shoes for Bangladesh’s barefoot population. He pointed to Japan’s suicide rate. “Let’s create a social business and fix it,” he challenged the overflowing auditorium. He made it sound so easy. His new book, Building Social Business, expands this concept. I just couldn’t help thinking that he could be rich if he wanted to be. Then he said he doesn’t own any of the companies he’s created. He’s not even a voting member of his famous micro-credit institution, Grameen Bank, which received the Nobel Peace Prize with him in 2006.
There was a huge line after the event. It went all the way down the hall. People were buying stacks of books and getting them all signed. They were taking pictures, and he was giving out his business card. It included his personal email, phone numbers, everything. He talked to everyone in line.
Later, on our way back to the car, there were students taking pictures of him like paparazzi. And he was waving like I’ve seen presidents do. He was totally used to it. His publicist said that when Bangladeshi ex-patriots see him abroad, sometimes they kiss his feet [a cultural tradition to show honor and respect].
And as we were driving him back to the Chicago Hilton, Marcelo Lando, a business student sitting in the front seat, asked him if he ever gives money to beggars on the street. Yunus said he didn’t, and I will never forget his reason. “Removing homeless people off the street is another social business opportunity,” he said. “If I give them money, then my conscience is free; I don’t have to think about that person. If I don’t give them money, I’ll think about it and it will stay in my mind until I find a solution.” – As told to Steven Yaccino
"Building Social Business" - Muhammad Yunus
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Sohair Omar is a second-year MPP student and co-chair of the Harris School’s Islam and Public Policy Discussion Group, which co-hosted the Muhammad Yunus event with Chicago Booth’s Emerging Markets Group on May 21, 2010.
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