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Nobel Laureate Professor Muhammad Yunus presented keynote speech at ‘The Future of Finance’ conference at the Business School of Imperial College London. Professor Yunus called upon financial regulators and policymakers to design a new financial system which will deliver services to all people, not just the rich. He called financial services as financial oxygen for the poor. Present financial system has created a ticking time bomb by creating wealth concentration in the hands of handful of people. He also highlighted the need for urgent remodeling of business education to focus on producing entrepreneurs and social business entrepreneurs rather than traditional job-ready graduates to fit into the slots of companies. He emphasized the role of technology and creativity of the youth in facilitating entrepreneurship.
CEO of Lloyds Banking Group, António Horta Osório, and Executive Director, Financial Stability Strategy and Risk, Bank of England Alex Brazier attended the conference. Other high profile guests at the conference included the CEO of Megan Butler, Director of Supervision – Investment, Wholesale and Specialist at the Financial Conduct Authority, Luke Ellis, CEO of the Man Group, Daniel Masters, Director, Global Advisors Bitcoin Investment Fund, Sir Andrew Dilnot, Chair, UK Statistics Authority and Nigel Wilson, the CEO, of Legal & General Group.
He raised the question whether we should have conference on the future of present financial system or rather have conference on the designing of the future financial system.
The conference, third of its kind, explored future global challenges and opportunities in the finance sector, and their likely effect on policy and practice. Professor Francisco Veloso, Dean of Imperial College Business School, said: “As part of Imperial College London, intellectual insight and research leadership are at the core of our identity; we are uniquely positioned to advance our understanding of areas critical to today’s world by combining technological and business understanding.”
During his stay he was also interviewed on social business, microfinance and the global economy by the Financial Times of London.
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