President of the Republic of Azerbaijan Ilham Aliyev met with Nobel Peace Laureate Muhammad Yunus at this Palace on Saturday (June 18) on the very first day of Professor Yunus’ three day visit to the country.

Before the meeting, president of Azerbaijan received Nobel Peace Laureate Muhammad Yunus at this Palace, said a Yunus Centre press release on Tuesday.

Professor Yunus briefed the President about the recent developments in social business across the world. President Aliyev lauded the contribution of Professor Yunus in alleviating poverty, and discussed specifically what role social business could play in his country.

On Monday, Professor Yunus delivered the keynote speech at an international conference at Azerbaijan State Economical University (UNEC) on “Social Business - The Way To Development,” where he was given an Honorary Doctorate by UNEC in a special convocation ceremony. Ministers, parliament members, deputy speaker of the parliament, bureaucrats of the country, academic delegations from Azerbaijan, Russia, Turkey, Kyrgyzstan, Kazakhstan and Georgia participated in the conference.

Afterwards, an MoU was signed between Yunus Centre and the Azerbaijan State Economical University (UNEC) to set up a Yunus Social Business Centre (YSBC) at the university. This YSBC, which is the 24th Yunus Social Business Centre that has been established around the world, will facilitate the promotion and research of social business in the country.

Earlier during the visit, Professor Yunus had separate long sessions with minister of economy Professor Shahin Mustafayev and Professor Salim Muslumov, Minister of Labour and Social Protection of Azerbaijan to discuss about social business and its impact in alleviation of poverty and solving different social problems. Both ministers decided to send their delegation to attend Social Business Day in Dhaka to get broad understanding of social business.

A high level delegation of the Microfinance Association of Azerbaijan also called on Professor Yunus. Professor Yunus also addressed the ADA University on the same day where representatives of the diplomatic missions, international organizations working in the country, leading academicians and students gathered to hear him.

Professor Yunus addressed a large audience in a book launching event held at the premises of the International Eurasia press. Professor Yunus' best-selling book "Banker to the Poor," which has been translated in Azeri language, was launched in a big ceremony, attended by members of parliament, diplomats, academicians, and members of microfinance community. Keynote speech was delivered by Deputy Minister of Social Protection Dr Matin. He said he studied Grameen Bank and microcredit while he was a student at Harvard. He had to read "Banker to the Poor" as a part of his course work.

Both electronic and print media of Azerbaizan covered professor Yunus' visit prominently.