adilscaping

In 2011, I had the privilege of interviewing Muhammad Yunus for the Abu Dhabi-based Emirates Center for Strategic Studies and Research (ECSSR). Prof. Yunus  has been awarded the Nobel Peace Prize for founding the Grameen Bank in Bangladesh and other countries and for pioneering the concepts of microcredit and microfinance. In the wake of present banking turmoil and global economic downturn, the interview deserves to be republished. Q. Many theories have been proposed to explain the causes of current global financial turmoil, which began in 2008. In your view, are these distortions the result of a shift in global economy to the East or the fact that global economy is pegged to the vagaries of one country’s currency?   Ans:   The first thing I would like to say here is that I do not see the financial crisis as a standalone problem. This is just one of the many major global problems. In 2008, this crisis became more visible and grabbed the global headlines because it hit the financial sec