IIUC Business Review

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Microfinance: Learning from Islami Bank Bangladesh Limited (IBBL)
(CRP, International Islamic University Chittagong, Bangladesh, 2015-12) Rafique, Abu Bakr
The Rural Development Scheme (RDS) of Islami Bank Bangladesh Limited (IBBL) was introduced in 1996 with the objective of eradicating poverty and to involve the largest number of village-living poor folks to create opportunity for income generation and employment of the rural poor. RDS, despite its limitations, has proven itself as an alternative microfinance program to the conventional microfinance providers and Non-Governmental Organizations (NGOs) in Bangladesh. This paper, aims at analyzing the success of the RDS of IBBL throughout the past few years, and testing its effectiveness as an alternative to the conventional microfinance programs which are mainly based on interest-bearing loans.
Effects of Income on Travel: A Study of Dhaka City Dwellers
(CRP, International Islamic University Chittagong, Bangladesh, 2015-12) Islam, Serajul; Ahammed, Faisal
This paper briefly presents research findings on the travel characteristics of the people of Dhaka, the capital of Bangladesh. It reveals that there is strongly positive relationship between income and travel expense for the people of Dhaka City. Most of the people of the city use three-wheeler, slow moving, and manually operated non-motorized vehicles. The relationship between monthly income and monthly travel expense for recreational purpose is roughly linear up to certain limit and after this limit, the monthly travel expenses for recreational purpose increases rapidly. Majority people of Dhaka City provided their opinion for using a train service in Dhaka Metropolitan Area, though the travel expense for this train service will be little bit higher than any other public mode. In fact the people of Dhaka City use various types of modes for their daily trips on the basis of purpose, travel cost, travel time and above all comfort-ability of the mode.
Factors behind Begging and Search for Alternatives: A Study on Female Street Beggars in Chittagong City
(CRP, International Islamic University Chittagong Bangladesh, 2015-12) Sobhani, Farid A.; Murtaz, Maleha
The study aims at knowing the feelings of female street beggars concerning begging, identifying the causes of begging and getting ideas from them to get rid of begging. It was an exploratory study in nature based on opinion survey of the female street beggars. Chittagong City area was purposively selected for this study. A semi-structured questionnaire was designed to interview the beggars. A total of 62 female street beggars were randomly interviewed from July to October 2014. The study revealed that about 87% beggars interviewed feel ashamed of begging and saw begging as an immoral conduct. The factors that induced them in begging are: polygamy, dishonest husband, looking after children, family disintegration, illiteracy, illness, lack of jobs, poor salary for works, natural disaster and survival. Some of them (13%) considered begging as a profession like other works. Most of them (92%) desired to get rid of begging having suitable alternatives. The alternative activities they mentioned include job, training, family integration, Government shelter, social/community support, money and business. Getting support fund, they desired to start scarp business, fisheries, poultry farms, cloth business, vegetable business and selling pithapuli (local pizza) in the winter seasons and so on. The study generated thought provoking ideas for Government bodies, civil societies, donor agencies and social science researchers to move forward for the eradication of extreme poverty and street begging from a developing country like Bangladesh.
Evaluation of Disclosures in Annual Report: A Study on the Listed Textile Companies in Bangladesh
(CRP, International Islamic University Chittagong Bangladesh, 2015-12) Rokibul Kabir, Mohammad
For a vibrant capital market it is necessary to have well informed decision making by the investors. The main source of such information is the annual report provided by a company. The study is an attempt to find whether the listed textile companies are making sufficient disclosures in their annual report. To measure the extent of disclosures, two un-weighted disclosure indices have been constructed. One of these is a 144 point index for the overall disclosures while the other is a 35 point index for the voluntary disclosures only. The required data have been collected from the secondary sources, i.e. the annual reports of the selected companies from year 2008 to 2011. The collected data have been analyzed by using statistical tools like mean, percentile and t-test. Computer aided statistical software SPSS 20 was used to calculate the results of the above mentioned tests. The study reveals that there are significant differences in disclosure practices among the sample companies. But the level of disclosures is not satisfactory as the average disclosure score is 45.3787 out of 144 which is only 31.51% of the total allocated score. Again, the average voluntary disclosure score is 5 out of 35 (14.29%) which is not satisfactory at all.
Zakah: A Comprehensive and Effective Redistribution Strategy for an Economy Ensuring Poverty Alleviation and Distributive Justice
(CRP, International Islamic University Chittagong Bangladesh, 2015-12) Faruq Ahmad, Abu Umar; Habib, Farrukh; Rashid, Mamunur
Zakah ( الزكاة ) which is the third of the five basic pillars of Islam is considered as an integral part of an Islamic social welfare system since it ensures the rights of poor and needy in the wealth of the rich and as such acts as a tool for distribution of wealth in eradicating poverty in society. This study discusses the potentials of zakah in distributing economic justice and alleviation of poverty. Keeping this objective in view, the study attempts to discuss: a) the concept of redistributive justice from conventional as well as Islamic economics point of view, b) the well-known schools of thought in political philosophy of redistributing income, and c) the salient features of the Islamic strategy for the realisation of the desired pattern of distribution. Zakah is designed to eliminate poverty – both in the short- and long-term basis. Besides, being a collection of redistributive measures it has great scope to play an important role in distributing justice in an economy.
Richocracy is Responsible for Global Inequality with Special Reference to US Ideals and Practices
(CRP, International Islamic University Chittagong Bangladesh, 2015-12) Ahmed, Ghyasuddin
‘Rich is getting richer and poor poorer’ is the common global voice today and this is getting worse in Capitalists societies since the demise of Soviet Communism in early 1990s.As the opposing force, capitalists used to be extremely scared of communism that made them to cut the work hours to 8, standardized salaries, made provisions of annual pay increase and vacations, chances of promotions, pensions, labor unions etc. Ironically capitalism also failed in 2008, but defenders of this system do not admit it. With the failure of capitalism the various ideals of democracy become only catch and deceptive words changing democracy to ‘richocracy’ i.e. the government of the rich, by the rich and for the rich. After the demise of communism the rich crates became extremely wild and are taking over whatever benefits and freedoms the labors enjoyed before. Rich crates’ enslavement of democratic processes and systems seems to be permanent, unless and until some kind of revolution – social or otherwise occurs. Today rich crates control the world economics, politics, religion and societal norms and values creating many attractive or deceptive business products and strategies that openly cheat consumers by all different means. Richocracy deceptively defines or redefines societal ideals, morals, norms and values that made bad good and good bad, and honest dishonest. They also continually portray patriotic people to be unpatriotic and vice versa. In addition this paper discusses how various ways richocracy contributes to increased magnitude of poverty and inequality, bad impact of privatization and not for profit agencies even though these are excellent ideas. It also reflects on Islam phobia agenda of the Western rich crates. No matter whatever control mechanisms are adopted human bad manners makemostideals dysfunctional through the hidden agenda and programs of the rich crates.
Assessing Return on Training Investment (ROTI) of Islami Bank Bangladesh Limited
(CRP, International Islamic University Chittagong, Bangladesh, 2015-12) Ahmed, Mahmood
The training budget of Islami Bank Bangladesh Ltd. is about BDT 100 million for 10,425 employees to impart training at Islami Bank Training and Research Academy in the year 2013. If employees really are greatest asset, isn't it time to look at training programmes of Islami Bank Training and Research Academy as investments in human capital and not just as an expense? This article assessing the case for return on investment to the Special Training Course on Professional Development held twice in the year 2012 at Islami Bank Training and Research Academy. It has been found that the training of Islami Bank Bangladesh Limited has a business value. Therefore, the regional centers of the Islami Bank Training and Research Academy may be established, like other public commercial banks, to make the training available at hand. Moreover, it will make the training investment cost effective, hassle-free and growth-led. The training programmes should be continuously improved to provide better value and increased benefits for the IBBL.
Perception on Service Quality and Level of Satisfaction of Islamic Bank: A Case Study of Social Islamic Bank Ltd
(CRP, International Islamic University Chittagong, Bangladesh, 2015-12) Sarker, Md. Abdus Salam; Jilani, Munshi Muhammad Abdul Kader; Ullah, Md. Maruf
Shari’ah based banking have gained good momentum over a short period of time by expanding their activities on the lines of contemporary financial markets. Service quality and customer satisfaction are going to be key differentiators for each Islamic bank from their competitors. The purpose of this study was to evaluate the perception on service quality and level of customer satisfaction in Islamic banks particularly in Social Islami Bank Ltd. (SIBL). A survey was conducted conveniently on 100 retail banking customers in Dhaka city to collect primary data with the help of a structured questionnaire. The study has found that the customers’ perception about the service delivery system and products/services offered by the bank are at a satisfactory level except the product Bai-Salam and the ATM Services. Location of the branch gets the higher priority to the customers followed by employees and physical facilities of the branch among the service delivery system of the bank.
Community Based Tourism: A Potential Tool for Alleviating Poverty in Bangladesh
(CRP, International Islamic University Chittagong, Bangladesh, 2015-12) Khandaka, Sabrina; Muzahid, Mohammad Aman Uddin
The purpose of this paper is to investigate the possible ways to alleviate poverty through developing community based tourism in Bangladesh- a country with a dominant rural population and agro-based economy. Community-based tourism [CBT] has been proposed as the appropriate program for addressing poverty by providing opportunities for income and employment generation. This paper deliberately attempts to portray the strategies and tactics for developing community based tourism in Bangladesh. Which properly can control the stressful nature of tourism while empowering the community; expanding tourism enterprises run by local communities; maximizing use of local labor, goods and services through reducing leakage; expanding informal sector linkages; preserving culture; conserving the environment and providing educational opportunities? However, a number of barriers prevent the poor from participating in such programs, including a lack of social capital and skills that need to be addressed before the benefits of CBT can be realized. In this regard, the study tries to find out the potentials of Islamic microfinance programs that extend small loans to poor people and provide them an access to micro-businesses supplying tourism product and services at low cost. Secondary data were used to achieve the objectives in this study. The write-up also suggests that an integrated approach to tourism planning and development is required for a notable sustainable growth of tourism sector that will very soon emerge as a major contributor to the economy of Bangladesh and will be able to unlock opportunities as well as create net benefit for the poor people of rural Bangladesh..
Relative standing of Islamic banks in liquidity management: A survey on private banks of Bangladesh
(CRP, International Islamic University Chittagong, Bangladesh, 2016-12) Chaudhury, Nazneen Jahan; Osman, Asfia Binte
Commercial banks play a significant role in keeping wheel of an economy active. In Bangladesh two types of commercial banks are operating with their distinctive philosophy: Conventional and Islamic. This research work has been undertaken to measure the relative position of Islamic banks in terms of liquidity management. Data have been collected from secondary sources of information considering the fact that both banks have a widespread branch network and timely published financial results that are easy to get in their websites and also available on the internet. Liquidity positions of the sample banks have been analyzed through different ratios which have further been interpreted by using some statistical tools. Standing of Islamic banks in terms of liquidity management is good enough, but due to some practical problems its smooth operation is being interrupted. If suggested actions can be taken without undue delay, the position of Islamic banks compared to Conventional one would be much better.
Determinants of age at first motherhood in Bangladesh
(CRP, International Islamic University Chittagong, Bangladesh, 2016-12) Alam, Mohammad Manjur; Hoq, Mohammad Nazmul; Hossain, Mohammad Emdad
Female‟s age at first motherhood is an important determinant of fertility process, which also indicates the status of female in a society. In this research, an attempt has been made to evaluate the female‟s age to give their first birth as well as its significant covariates by utilizing the data extracted from 2011 Bangladesh Demographic and Health Survey (BDHS). Univariate, bivariate, and multivariate Cox proportional hazard model have been used to identify the association between age at first motherhood and selected background variables. The average age at first motherhood of this study is found to be only 17.92 years. Median age at first motherhood is close to the mean age at 17 years. The study shows that age at first cohabitation is significantly negatively correlated with the timing of first motherhood, while the age at first cohabitation is positively correlated with age at first motherhood. In bivariate analysis, all independent variables are strongly associated with age at first motherhood. The findings of multivariate analysis indicate that age at first cohabitation, spousal age difference, ever use of any method, respondents‟ current age, and respondents‟ education are found to be the significant covariates of age at first motherhood in Bangladesh.
Nazrul’s uniqueness in the presentation of poverty and begging: A study from Islamic perspective
(CRP, International Islamic University Chittagong, Bangladesh, 2016-12) Hoque, Muhammad Azizul; Uddin, Md. Abu Saleh Nizam
In present western civilization, poverty and begging have always been neglected at both micro and macro-economic levels. The picture of poverty and, at its extremity, begging is one of the most tragic scenarios across the world. However, in Islamic tenets, begging as a profession and action is discouraged since men are created by Allah as the best of all creations. Though, many literary works dealt with the pathetic pictures of poverty and begging, the literary contribution of Kazi Nazrul Islam (1899-1976) dealing with poverty and begging is seemingly a true reflection of Islamic creeds. His picturesque presentation of poverty from his first-hand experience urges rapid steps to alleviate poverty and begging. Above all, his human-centric mental set-up plays the key role here. Therefore, Nazrul is not to be recognized as the proponent of the familiar Western concepts like Socialism or Marxism or Capitalism. This paper aims at exploring how in his literature Nazrul, with diametric discarding of these Western concepts, deals with poverty and begging as a true reflection of Islamic paradigms to find a solution to the problems
Application of the two-phase simplex method for optimal advertisement decision: A study on an E-commerce company
(CRP, International Islamic University Chittagong, Bangladesh, 2016-12) Sultana, Nahid
The optimal advertisement decision aids to get the optimized effective customers within the limited budget. So it plays a significant role for any company. Every e-commerce company has many options for advertisement, but every company has to face difficulties in choosing the best advertisement media for maximization of customers with the restricted expenses. The study is based on a sample e-commerce company which is taken purposively. In this study, I have used the Two-Phase Simplex method which is very much suitable for the study. The study finds that the best media is E-mail, which makes the maximum possible effective customer within the restricted budget.
Scenario of Islamic money market instruments in some selected Muslim countries: A lesson for Bangladesh
(CRP, International Islamic University Chittagong, Bangladesh, 2016-12) Uddin, Mohammed Jashim; Uddin, Md. Nezum
The main focus of this study is to investigate the incumbent scenario of Islamic money market instruments in and outside of Bangladesh along with the close observation of conventional one. Islamic money market in different jurisdictions has deeply been observed and studied in this paper. From the experiences of global situation, Bangladesh money market has been found at a nascent stage. Some recommendations and proposals have been suggested to set up and formulate a vibrant, robust, healthy and sustainable Islamic money market for effective competition. Having an abundant potentiality of Islamic money market among, especially, in Muslim countries, this paper invokes respective central banks, Islamic financial institutions and non-bank Islamic financial institutions to come forward to operate and practice Shariah based money market in a unique way or along with conventional money market. Bank Negara Negotiable Notes, Islamic Accepted Bills (IAB), Islamic Negotiable Instruments of Deposit (INID), Rahn Agreement are found suitable for Bangladesh money market and two new instruments called Central Bank Mudarabah Sukuk (CMBS) and Government Murabahah Sukuk (GMS) have been proposed for the country.
Environmental disclosures: A study on some selected pharmaceutical and chemical companies in Bangladesh
(CRP, International Islamic University Chittagong, Bangladesh, 2017-12) Ahmad, Afzal; Khan, Mohammad Aktaruzzaman; Abdullah, Al Amin Mohammad; Rashid, Md. Harun
This study attempts to address the environmental disclosure practices in listed pharmaceutical and chemical industries in Bangladesh. The authors developed a disclosure index to measure the extent of environmental disclosure prepared by companies in their annual reports. It is observed that the considerable amount of environmental information is disclosed by a few pharmaceutical and chemical companies while a large number of companies ignore the information concerning the issue. The study also found a significant variation of environment disclosures among the companies. However, this study put recommendations to the government and regulatory bodies of the concerned companies to take necessary actions in such a way that the all pharmaceutical and chemical industries of Bangladesh are motivated and compelled to address the environmental issue in their annual reports. Moreover, this will contribute to the existing literature by creating awareness among the users as well as to the preparation of the annual reports in disclosing more relevant information.
Credit risk management of conventional banks and Islamic banks in Bangladesh
(CRP, International Islamic University Chittagong, Bangladesh, 2017-12) Noman, Abu Hanifa Md.
This paper examines credit risk management (CRM) process of both conventional banks (CBs) and Islamic banks (IBs) in Bangladesh. A set of structured questionnaires has been used in the investigation process. The study incorporates perceived opinions of 96 credit officers working for 17 CBs, and 5 IBs in Bangladesh. This study has found that the risk officers of private commercial banks in Bangladesh are competent in overall credit risk management process. Further, it has also found a significant difference between the credit officers working for CBs, and IBs on understanding and managing credit risk, and credit risk identification, however, no significant difference has been observed in credit risk assessment, credit risk monitoring and controlling, and CRM practices.
Problems in funding SMEs in Bangladesh: An empirical study on Chittagong metropolitan area
(CRP, International Islamic University Chittagong, Bangladesh, 2017-12) Chaudhury, Nazneen Jahan
Problems in funding SMEs are a common phenomenon of academicians, experts and government. Though, SMEs are furnishing to the economy in development but they are originated most helpless to the micro and macro-economic crises. Consequently, they fall into funding problems. The study has used both financial and statistical tools for evaluating the data gathered for the research. The study has recognized various probable problems of SMEs in obtaining funds from banks and financial institutions such as asset based collateral and high cost structure of fund, unavailability of fund without guarantee, sources of capital constraints, and poor credit management. On the contrary, prospective entrepreneurs are also not that eager in raising capital from banks due to some procedural hazards like complex application procedure, high collateral, high interest rates, more time consuming which make the need of obtaining bank loans ineffective. This study identified some major hindrances that both the SMEs and banks face in obtaining and granting loan, respectively. Finally, findings offered some proposals to develop the situation in Bangladesh.
Management of Sadaqah through social enterprises: A study on Anjuman Mufidul Islam Bangladesh
(CRP, International Islamic University Chittagong, Bangladesh, 2017-12) Kabir, Mohammad Rokibul; Sobhani, Farid A.; Kausar, Aflatunal
Islam prefers a society where justice and equity is maintained and any business upholding the social justice and equity by ensuring social and environmental sustainability may be considered as a business in accordance with Islamic principles. In fact, social enterprises are such business concerns in modern context. Instead of scatter contribution of Sadaqah, its efficient use through the establishment of social enterprises may help ensuring social justice and uphold the prime purpose of Islamic financial systems. Anjuman Mufidul Islam, Bangladesh is one of such enterprises and the study is an endeavor to evaluate the management of Sadaqah by this enterprise. The research also attempts to propose a model for efficient management of Sadaqah through social enterprises. The secondary sources of data collected from the annual report of Anjuman Mufidul Islam, Bangladesh have been used to evaluate how well it is managing Sadaqah and a model for efficient use of Sadaqah has been proposed based on the existing models of social enterprises.
Impact of financial leverage on financial performance: Evidence from textile sector of Bangladesh
(CRP, International Islamic University Chittagong, Bangladesh, 2017-12) Hoque, Md. Ariful
The principal intention of this paper is to find out the relationship between financial leverage and financial performance as well as to assess the impact of financial leverage on the financial performance of sample textile industries in Bangladesh. Debt-assets ratio & debt-equity ratio are proxy of financial leverage and return on assets and return on capital employed is proxy of the financial performance of sample textile industries. In this paper correlation and regression analysis have been conducted by SPSS-20 over the 5-years (2008 to 2012) sample data. In this study, result indicates statistically significant negative tie-up between debts-equity ratio to return on assets (-.293) and insignificant negative relationship between debts-equity ratio to return on capital employed (-.249) as well as statistically significant detrimental tie-up between debt-assets ratio to return on assets (- .285) and return on capital employed (-.335). Financial leverage insignificantly impacts the financial performance of the sample textile companies.
Impact of short and medium term investment concentration on earnings and dividend distribution: Evidence from Islamic Banks in Bangladesh
(CRP, International Islamic University Chittagong, Bangladesh, 2017-12) Hossain, Md. Amzad; Kabir, Mohammad Rokibul
The aim of Islamic banking is to ensure interest-free banking system. To achieve the aim, Islamic banks use various modes of transactions as replacement of interest based system. Among the modes, some are short term and medium term and some are long-terms in nature. The study aimed at evaluating different investment modes to find investment concentration of Islamic banks in their portfolio. Secondary sources of data have been used to facilitate the research where a few persons were interviewed for some first-hand data related to investment modes. This study revealed that the investment portfolio of Islamic banks in Bangladesh mainly concentrates on short and medium-term investment which contributes to earning reasonable returns. These reasonable returns ensure stable dividend to the shareholders of Islamic banks in Bangladesh. This paper also discovered a significantly higher return of short and medium period investment than long-term based investment.