KUALA LUMPUR, Nov 30 ― Nobel Peace Laureate 2006 Prof Muhammad Yunus has been conferred an Honorary Doctorate in Business Economics by Universiti Putra Malaysia (UPM).

In a statement today, UPM said the Sultan of Selangor Sultan Sharafuddin Idris Shah as UPM Chancellor, presented the honorary doctorate to Muhammad Yunus during the first session of the university’s 46th convocation ceremony on Saturday.

Muhammad Yunus is one of the seven individuals ever awarded the Nobel Peace Prize, United States Presidential Medal of Freedom and Congressional Gold Medal, apart from awards and recognitions he received in the field of business and economics from 10 countries, including the Gandhi Peace Prize (2000) from India and the Petersberg Prize (2004) from the United States.

Muhammad Yunus is a Bangladeshi banker, economist and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering microcredit loans to impoverished people to start a long-term business after Bangladesh experienced a famine crisis in 1974.

Following the conferment, UPM School of Business and Economics will also appoint him as the Menteri Besar Selangor Chair Holder for a three-year term to develop leadership on research and teaching in the fields of management, business and economics.

Dean Prof Dr Bany Ariffin Amin Noordin said the cooperation with Muhammad Yunus will help UPM in its social business activities and community programmes based on the Yunus Social Business framework.

"With the presence of such a prominent figure with vast knowledge and experience, it is hoped that he can help the school and the university to strengthen its educational and industrial networks,” he added. ― Bernama