...Governance-Its Problems & Prospects in Banking Industry in Bangladesh Begum Ismat Ara Huq* and Mohammad Zahid Hossain Bhuiyan** Corporate Governance ensures to bring transparency, accountability and professionalism in the management system of a corporate body that enhances the credibility and acceptability to the shareholders, employees, potential investors, customers, lenders, governments and all other stakeholders. This is more true in case of Banking Industry. Since Banks deal in public money, public confidence is of outmost importance in this Industry. The study aims at finding out problems & deficiencies involved in Corporate Governance practice in Banking Industry in Bangladesh and also suggesting ways and means to remove the same in order to make the Corporate Governance practice sound and effective. In this study, both the primary and secondary data were used. The primary data relating to problems involved in Corporate Governance practice and suggestions to remove the same were collected on the basis of a questionnaire by interviewing 24 randomly selected Bank personnel such as Directors of the Board as the internal part of management and the Auditors as the external group. The secondary data were collected through an extensive literature survey on the subject. The study has identified some major problems in Corporate Governance practice in the Banking Industry of the country. The prospect of Corporate Governance practice is bright in Banking Industry in the country...
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...Corporate Governance-Its Problems & Prospects in Banking Industry in Bangladesh Begum Ismat Ara Huq* and Mohammad Zahid Hossain Bhuiyan** Corporate Governance ensures to bring transparency, accountability and professionalism in the management system of a corporate body that enhances the credibility and acceptability to the shareholders, employees, potential investors, customers, lenders, governments and all other stakeholders. This is more true in case of Banking Industry. Since Banks deal in public money, public confidence is of outmost importance in this Industry. The study aims at finding out problems & deficiencies involved in Corporate Governance practice in Banking Industry in Bangladesh and also suggesting ways and means to remove the same in order to make the Corporate Governance practice sound and effective. In this study, both the primary and secondary data were used. The primary data relating to problems involved in Corporate Governance practice and suggestions to remove the same were collected on the basis of a questionnaire by interviewing 24 randomly selected Bank personnel such as Directors of the Board as the internal part of management and the Auditors as the external group. The secondary data were collected through an extensive literature survey on the subject. The study has identified some major problems in Corporate Governance practice in the Banking Industry of the country. The prospect of Corporate Governance practice is bright in Banking Industry in the country as...
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...Introduction The Ready made garments (RMG) sectors emerged in late 1970s. The first Garments Industry named “DESH” Garment which was established in 1979s. By 1980s about 800 factories. There was very good growth in the 1990s; about 3400 factories came into operation. Today more than 4600 units exporting more than $5 billion an contribute about 48 percent of ours national export earning, 9.5 percent of GDP. The total number of workforce employed in this sector is 1.8 million, which is half of the total industrial workforce of the country. Besides this, more than 15 million people work in related industries from button-making to truckers to Insurance underwriters. Almost 85 percent of garments workers are women and most of them have come from villages. After introduction of the Multi Fibers Agreement (MFA). ASIA has become the world’s foremost exporters. Initially production was concentrated in the East Asian countries like Korea, Hong Kong, Singapore, and Taiwan, but by the middle of the 1980s others Asians countries become major producers like Bangladesh, Cambodia, Nepal, Haiti, Laos Madagascan and Myanmar emerge as major exporters of garments manufactures. Bangladesh is a good example of a country who was benefited from quota restriction on the countries export under MFA & General System of preferences (GSP) introduced in 1971 gave Bangladesh general access to European Union (EU), Canada and USA markets. BGMEA members export all kinds of woven, knit and sweaters...
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...Chapter: 1: Introduction 1.1 Origin of the study: This report is originated as the course requirement of the BBA program under the business studies faculty UAP. Under this program students of this faculty must go through an internship program of 3 months duration. As practical orientation is an integral part of BBA degree requirement, I was sent to IFIC bank, Lalmatia Brunch to take real life exposure of the activities of financial institution from 01, June 2014. 1.2 Background of the Study: Modern banks play an important part in promoting economic development of a country. Banks provide necessary funds for executing various programs underway in the process of economic development. Economy of Bangladesh is in the group of world’s most underdeveloped economies. One of the reasons may be its underdeveloped banking system. Government as well as different international organizations have also identified that underdeveloped banking system causes some obstacles to the process of economic development. So they have highly recommended for reforming financial sector. Since 1990, Bangladesh Government has taken a lot of financial sector reform measurements for making financial sector as well as banking sector more transparent, and formulation and implementations of these reform activities has also been participated by different international organization like World Bank, IMF etc. I was placed in IFIC Bank Limited, for 12 weeks long Internship Program to acquire practical knowledge...
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...ON THE FUTURE OF FLAT STEEL INDUSTRIES OF BANGLADESH – A RESEARCH REPORT OF STANDARD CHARTERED BANK” By Mohammed Mashud Ur Rahman ID: 0811084 An Internship Report Presented in Partial Fulfillment Of the Requirements for the Degree Bachelor of Business Administration INDEPENDENT UNIVERSITY, BANGLADESH May 2012 Letter of Transmittal May 29, 2012 Ms. Momtaj Khanam Senior Lecturer School of Business Independent University Bangladesh Dhaka Subject: Submission of Internship Report. Maam, This is a great pleasure for me to submit the Internship Report after successfully completion of all the courses of BBA program in your university. I have undertaken my internship program in Standard Chartered Bank Bangladesh (Main Branch, Chittagong) from February 20, 2012. While preparing the report on “Advance Research on the future of Flat Steel Industries of Bangladesh – A research report of Standard Chartered Bank” I have tried to gather as much information as possible. I was appointed under Commodity Traders and Agriculture (CTA) Department of Standard Chartered Bank, and it was a worthwhile experience for me working there. I believe that the internship program has enriched both my knowledge and practical expectance which has helped me in developing this report for you. Thanking you, Yours sincerely, Mohammed Mashud ur Rahman ID: 0811084 BBA Independent University Bangladesh PREFACE I appreciate that Independent University Bangladesh has this internship program...
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...Challenges Project Management in Bangladesh : Positive Factors: 1. Growing economy, scope for fresh and new projects, need for infrastructural facilities. 2. Availability of resources. 3. Abundance of manpower. 4. Urge for development. 5. Adaptability of manpower vis-à-vis technologies. Negative Factors: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22 23. 24. 25. 26. 27. 28. 29. Poor & very inadequate technical bases. Inadequacy of research & trained manpower. Serious brain drain. Lack & inadequacy of infra-structural facilities. Corruption (resource utilization is only 40% effectively). Very poor project planning. Data bank lacking & highly inaccurate. Dearth of experienced & hardworking and honest entrepreneurs. Poor general economic conditions & low per capita income. Size of market & buying capacities. Uncongenial legal framework. Absence of good governance. Unfriendly administrative machinery. Irrational fiscal policy. Weak & ineffective capital market. Inefficient monitoring of banking structure & banking policy. Default culture. Absence of business ethics. Lack of political will. High political risk including instability. Precarious law & order situation. Bangladesh is classified as “high risk” country. Low savings - GDP ratio. Majority of the population lives below poverty level. Low literacy rate & lack of civic sense, patriotism, and sense of belongingness. Unhealthy distribution of income and concentration of most of the wealth of the...
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...driven, customer focused institution with good corporate governance structure. Continuous improvement in our business policies, procedure and efficiency through integration of technology at all levels. Vision To be the best private commercial bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound management and profitability having strong liquidity. Objective For our customers: • To provide the most courteous and efficient service in every aspects of its business • To be innovative in the development of new banking products and services For our employees: • By promoting their well-being through attractive remuneration and fringe benefits. • By promoting good stuff morally through proper staff training and development, and provision of opportunities for career development. For our share holders: • By forging ahead and consolidating its position as a stable and progressive financial institution. • By generating profits and fare return on their investment. For our community: • By assuming our role as a socially responsible corporate citizen in a tangible manner • By adhering closely to national policies and objectives thereby contributing towards the progress of the nation Strategy PBL has consistently remained focused on efficient customer service by providing wide range of product and services. PBL focused on our diverse products and services. Our customer group range from individuals, big corporate clients, NGOs and non-residents...
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...ICT Roadmap Bangladesh: A Pilot Study Moving Towards a Sustainable Growth of the IT Industry. March 4th, 2013 Final Draft. 2 Table of Contents EXECUTIVE SUMMARY DIGITAL BANGLADESH: AN OVERVIEW THE MISSING BRIDGES RECOMMENDATION TO GOVERNMENT 3 4-‐7 8-‐11 12-‐27 CONCLUSION ...
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... 1.1 Background Bangladesh is the third largest Muslim country in the world with around 135 million populations of which 90 percent are Muslim. The people of this country are deeply committed to Islamic way of life as enshrined in the Holy Qur'an and the Sunnah. Naturally, it remains a deep cry in their hearts to fashion and design their economic lives in accordance with the percepts of Islam. The establishment of Islami Bank Bangladesh Limited on March 13, 1983, as the first of its kind in Southeast Asia, was the true reflection of this inner urge of its people. It was both a hope and a challenge to the Islam loving people of the country in general and the pioneers of the Islamic banking movement to make it a success. In the beginning there was some doubt in the minds of many people about the viability as well as the sustainability of the Islamic banking system. But the history of two decades of Islamic banking operation in Bangladesh not only removed this doubt from the minds of the people but also showed how a new banking concept based on Islamic values could so rapidly establish itself as the most modern, dynamic, and popular bank of the country. Within this short span of time the workforce of Islamic banks in Bangladesh in general and Islami Bank Bangladesh Limited, in particular, by their strong commitment and tireless effort have been able to prove the superiority of Islamic banking over conventional banking in every department of banking operations and services...
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...Supervisory Lapses of the Banking System in Bangladesh 1 1 2 Munshi Samaduzzaman, 2Fazluz Zaman Adjunct lecturer, Central Queensland University, Australia Adjunct lecturer, University of New South Wales, Australia Abstract: The implications of the efficient bank supervisory and strong regulatory implementation strategies in Bangladesh Bank will be needed in order to overcome the continued crisis in the banking system. This should be a wakeup call to everyone in the banking industry in the country to further develop and strengthen the strict monitoring of the banking mechanism strategies. At the same time, in order to investigate the numerous misalignments in the supervision of both banking institutions and Central Bank of Bangladesh as well as to integrate the appropriate linkages between proper implementation of the bank regulatory and supervisory structures. The result of this study suggests that there is a strong need for focusing on the dual banking system, as well as a need to increase the efficiency in the technical areas, as well as a tooth for a tooth law in order for the Central Bank of Bangladesh to beat numerous fraud activities in the banking sector. Proper growth and profitability and transparency in the entire banking sector will be achieved through a strict implementation of banking policies and regulations with a strong emphasis on the firm litigation to reduce the unlawful acts of those individuals. I. Introduction The banking sector has received most...
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...Chapter 1 1.1 Introduction Internet Banking is growing popular day by day in Bangladesh. A number of private as well as local banks are going online now considering the demand and necessity of fast banking. Internet banking not only provides banking facility round the clock but also helps a country to get attached to the international economy as well as business. People throughout the world are now getting engaged with more activity and business and hence need the fast and anytime access to his/her bank account. Internet banking also facilitates buying and selling various products which varies country to country. In Bangladesh many banks have launched Internet Banking. Amongst those HSBC, City Bank, BRAC Bank, Bank Asia, Jamuna Bank, Janata Bank, Southeast Bank, AB Bank, First Security Bank, Mercantile Bank, Premier Bank etc are in action already. Some are known as online banking, some are Internet Banking, providing various facilities. Like City Bank has the facility of account check and statement print including query about cheque book information. Bank Asia has almost same facilities but with addition they have internal fund transfer facility along with bill payment and mobile phone recharge which are, in fact quite handy. Mercantile bank has a schedule for internet banking. It is Sunday to Thursday, 9am-3pm. They have the facility of money transaction, deposit and withdrawal though they charge a particular amount for each transaction according to their policy, it is a...
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...Strategic Human Resource Management Practices in Bangladesh A case study on Islami Bank Bangladesh Limited PREPARED BY |Name |ID | |Fahamida Sultana |B-101875 | |Rabeya Bashry |B-101876 | Batch : 30th Semester : 8 Course Code : 4804 Course Title : Strategic Human Resource Management [pic] DBA, IIUC, DC Date of Submission : 5th January, 2014. Strategic Human Resource Management Practices in Bangladesh A case study on Islami Bank Bangladesh Limited PREPARED BY |Name |ID | |Fahamida Sultana |B-101875 | |Rabeya Bashry |B-101876 | Batch : 30th Semester : 8 Course Teacher : Md. Ataur Rahman Course Teacher Course Code : 4804 Course Title : Strategic Human Resource Management ...
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...excellence customer services, to train and motivate staffs and to exercise social responsibility. By combining regional strengths with group network HSBC’s aim is to be the one of the leading banks in its principle markets. HSBC’s goal is to achieve sustained earnings growth and to continue to enhance shareholders value. 1.1 An Overview of HSBC Group The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 in Hong Kong and Shanghai to finance the growing trade between China and Europe. Thomas Sutherland, a Hong Kong Superintendent of the Peninsular and Oriental Steam Navigation Company helped to establish this bank in March 1865. Throughout the late nineteenth and the early twentieth centuries, the bank established a network of agencies and branches based mainly in China and South East Asia but also with representation in the Indian sub-continent, Japan, Europe and North America. The post-war political and economic changes in the world forced the bank to analyze its strategy for continued growth in the 1950s. The bank diversified both its business and its geographical spread through acquisitions and alliances. HSBC Holdings plc, the parent company of the HSBC Group, was established in 1991 with its shares quoted on both the London and Hong Kong stock exchanges. The HSBC Group now comprises a unique range of banks and financial service providers around the globe. HSBC maintains one of the world’s...
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...Medium Enterprise (SME) Development in Bangladesh 1Business Feroz Ahmed1, *Md. Mizanur Rahman1, Monimul Haque2 Administration Discipline, Khulna University, Bangladesh 2Department of Finance and Banking, University of Rajshahi *mizanurku03@yahoo.com Abstract: Small and medium enterprises (henceforth, SMEs) play a key role in economic growth and industrial development of a country. They make vital contributions in improving economic and social sectors of a country through stimulating large scale employment, investment, development of indigenous skill and technology, promotion of entrepreneurship and innovativeness, enhancing exports, and also building an industrial base at different scales. SMEs worldwide have been benefited from the combined interactions of forces of product mix, location factors, and market advantages. However, evidences also suggest that there are cases of SME failures. Growth of SMEs is constrained by many factors. Many SMEs occasionally go on growing into large firms. This paper looks for identifying such constraints of manufacture based SME Development in Bangladesh. From the study, it has been identified that, lack of utility facilities, for example, electricity, gas and water, frequent changes of the prices of raw materials as well as shortage of raw materials, political unrest, high interest rate on borrowings, high transportation cost, lack of financing for ongoing concern, and inadequate infrastructure are the major constraints of manufacture based...
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...Bangladesh Software Industry Chapter One Introduction Software industry is labor-intensive, has relatively low-entry barriers and few economies of scale and so offers lucrative opportunities for developing countries to join the ranks of the developed world. The scale and pace of growth in this sector is faster than in any other industry, and a number of developing countries having cheap, talented labor are attempting to emulate the success enjoyed by countries such as China, Thailand and India. The government in 1997 identified the software sector as a thrust sector for the overall economic growth of the country. Accordingly, a commission was formed under the ministry of commerce (later called JRC commission) to formulate some recommendations for the rapid growth of the software industry in Bangladesh. The commission identified four problematic functional areas namely: fiscal, human resource, infrastructure, and marketing, and provided some recommendations to overcome the barriers in software development in our country. By accepting these recommendations (however, some of these recommendations are yet to be implemented), the government had set a target to export yearly software worth two billion dollar (Tk 14,000 crore) by the year 2006. However the statistics (BCIT) reveal that the total earning from software sector during 2004-2005 was approximately Tk 88.34 crore. No doubt, this achievement lies far behind as it has been envisaged. In this research the main...
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