Bangladesh Nationalist Party (BNP) Standing Committee member Abdul Moyeen Khan on Wednesday described social business as a fundamental challenge to conventional capitalism.

Speaking at a social business summit at North South University (NSU) in Dhaka, he said the model pioneered by Chief Adviser and Nobel laureate Professor Muhammad Yunus redefines the purpose of business.

Khan argued that social business rejects the traditional focus on maximising shareholder profits. Instead, it prioritises solving social problems by reinvesting earnings into communities.

"There are two words—social and business—and the two words are contradiction in terms," he told students.

He said conventional businesses are driven by individual profit, while social businesses seek to improve people's lives without distributing dividends.

Khan argued that profit-driven business models often widen inequality. By contrast, he said, social business aims to reduce the gap between rich and poor.

He cited Grameen's affordable nutrition initiatives as examples of businesses that generate revenue while serving disadvantaged communities.

Calling Yunus the architect of the concept, Khan said the Nobel laureate expanded microcredit into a broader development model.

He described social business as one of the most credible responses to global economic inequality.

"Business without profit is a real challenge, but it's worth pursuing this challenge for the sake of the not so lucky people in the world," he said.

Describing himself as "basically, fundamentally, a teacher," Khan encouraged students to question established ideas.

He said innovation begins with curiosity and urged them not to accept conventional thinking without scrutiny.

Khan also praised NSU students and faculty for their role during the July 2024 uprising.

He said private university students stepped forward when public university protests stalled amid deadly violence.

At the same time, he cautioned students against remaining on the streets unnecessarily.

"You should go to the streets only when it is needed, not all the time," he said.

Concluding his speech, Khan linked the courage shown by students during the 2024 movement with the spirit required to build successful social businesses.

He expressed hope that Bangladesh's private universities would continue producing graduates willing to challenge conventional ideas.

The summit brought together academics, entrepreneurs and social business advocates to discuss how socially driven enterprises can help address poverty, inequality and broader development challenges.