Volume 03, June 2014
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Item Rural Development Scheme of Islami Bank Bangladesh Limited: An Analysis as an Alternative Microfinancc Program(CRP (International Islamic University Chittagong), 2014-06) Rafique, Abu Bakr; Al-Mubarak, TawfiqueThe Rural Development Scheme (RDS) of Islami Bank Bangladesh Limited (fBBL) was introduced in 1995 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 microjinance program to the conventional microfinance providers and Non-Governmental Organizations (NGOs) in Bangladesh. This paper, following a comparative methodology, aims at analyzing the success and failure of the RDS of fBBL throughout the past few years, and testing its effectiveness as an alternative to the conventional micro finance programs which are mainly based on interest-bearing loans.Item Challenges and Potentials of Islamic Finance Products in the Australian Financial Market Regulation: A Critical Review(CRP (International Islamic University Chittagong), 2014-06) Shahed, Abul Kalam Muhammad; Ahmad, Abu Umar FaruqThe purpose of the study is to identify the key challenges in the growth and development of Islamic financial services in Australia for its largest Muslims minority. It also assesses the prospects for the emergence of Islamic banking in the Australian market in parallel to its conventional practice. The method employed in this study is a mixture of direct observation from legal and regulatory perspectives and author's personal experience, curiosity and association with this industry. However, Islamic legal context remains the only theoretical basis of the study. Through examining the above the paper seeks to argue that in order to meet the core challenges of Islamic finance a separate legal framework be established so as to facilitate its growth and development in the Australian financial marketItem Analysis of Retail Investors' Behavior in the Capital Market(CRP (International Islamic University Chittagong), 2014-06) Islam, Serajul; Hoque, Nazamul; Hassan, RizwanThere are various types of investors in the capital market, but retail investors are a mentionable portion and they behave in the market in different ways. They are of different age, sex, education background and size of the family. They are different on the basis of income level also. Investors' behavior is influenced by demographic, financial and macro factors. This paper examines the various influencing factors of behavior and thereby finds some motivating factors for which investors behave aggressively, moderately and conservatively in the market. Due to imbalanced behavior by some investors, the market price fluctuates extremely. As a result new investors sometimes lose their capital and that is de-motivational for the new as well as potential investors. So the paper is an attempt to study the investors' behavior for finding relevantfactors to control the market behavior that will protect the investors' interest as well as to develop the efficient capital market.Item Job Satisfaction of the Employees in Islamic Banking System: A Study on Islami Bank Bangladesh Limited(CRP, International Islamic University Chittagong, 2014-06) Hoque, Nazamul; Karim, Mohammed Shamsul; Islam, SerajulUndoubtedly, in this highly competitive world, the success of an organization depends largely on its human resources. Banks are no exception to this. A satisfied, happy and hard working employee is the biggest asset of any organization, including banks. Workforce of any bank is responsible to a large extent for its productivity, profitability, growth, change, and even of its existence. Efficient human resource management and maintaining satisfaction level of job in banks determine not only the performance of the bank but also affect the advancement and performance of the entire economy. So, for the success of banking, it is very important to manage human resource effectively and to find whether its employees are satisfied or not. A satisfied employee pays his full attention, works with commitment, and projects a positive image of the organization which finally begat customer satisfaction. The study has identified the key job satisfaction factors. and level of satisfaction of the employees of WEL. Flit' most important job satisfaction factor based on the eigenvalue is the 'working environment' followed by 'terms and condition', policy and administration', 'interpersonal relationship', and 'training facilityItem Attitude of Younger Consumers Towards Advertising: A Study on University Female Students(CRP, International Islamic University Chittagong, 2014-06) Chowdhury, Nazneen JahanAdvertising - the frequently used and effective marketing tool - receives an undue amount of criticism from most of the sectors. This article is an endeavor to depict the influence of advertising from dual angle. One is social perspective and the other is economic perspective. The analysis is based on the survey of 52 female students are in the age of 20 to 25 years of BBA program of International Islamic University Chittagong which were drawn from 438 population. While still respecting advertising as a selling tool, businessmen of ours are increasingly uneasy about other aspects, such as its truthfulness and social impact. So students have mixed attitudes towards advertising. This is a principal finding of a survey recently conducted on 52 students. Vlews on advertising's power, responsibilities and ethics are also presented in this article. The article concludes providing some suggestions to the civil people or concerned quarters as well as govt. to curb some sort of distortion and exaggeration in advertisement to make the advertising 'worthwhile, meaningful and informative.Item Earning and Spending: An Islamic Perspective(CRP, International Islamic University Chittagong, 2014-06) Bhuiyan, Mohammad Shafiul AlamEarning and Spending are the most important parts of our daily life, while not being the whole of it. Islam views our life as a compact whole and does not divide it into many separate and conflicting parts. That is why Islam laid down many rules and regulations about our earnings as well as the spending. This article is an attempt to show that the real and actual owner of everything is Almighty Allah alone and we are mere agents appointed by Him to administer our holdings. We come to this world empty- handed and depart from it likewise. So, we should be aware about our duty as Allah's agent and be ready to earn and spend all of these things according to the approved way of Allah (SWT). The article has also proved that everything is lawful to a person is lawful to earn with it and everything is unlawful to a person is also unlawful to provide for others. This article is a completely desk-based research. Al-Qur 'an, different Hadiths, Islamic literatures and other various research publications have been consulted to find out the basic rules of earning and spending in Islam.Item Impact of Cultural Adaptation on Sales Performance: A Comparative Study on Marketing Practices of Multinational and Local Pharmaceutical Companies in Bangladesh(CRP, International Islamic University Chittagong, 2014-06) Rabbi, Mohammed Yasir; Karim, Mohammed ShamsulCulture has been an influential force to affect the performance of an organizational activity including sales. Cultural differences impede the harmonization and replication of marketing mix elements for sales performance. So, understanding and adapting to the culture and cultural differences play pivotal role for success by the MNCs. There are several multinational pharmaceutical firms that have been operating in Bangladesh for the last three decades. But their sales performance are not expectedly growing as per the sales growth rate of local firms in Bangladesh. This research has been taken to identify the cultural adaptation inmarketing practices in host country considering both home and host country culture of MNCs. To identify the cultural consideration and adaptation, the marketing practices of two local companies and one MNC operating in Bangladesh have been studied using the Hofsted's cultural dimensions and rankings (Hofstede, 1991) on the basis of cultural analysis since these dimensions were identified as the most widely accepted (Sondergaard, 1994) framework to know the cultural context of countries. The findings of the study revealed that the failure in successful adaptation or partial adaptation of marketing mix elements is responsible for poor sales performance of multinational pharmaceutical firms in Bangladesh. The study identified the effect of cultural congruency in marketing mix on sales performance of local firms.Item Performance Evaluation of ICB Mutual Funds(CRP, International Islamic University Chittagong, 2014-06) Hassan, Rizwan; Ahmmed, Monir; Chowdhury, Shahnur AzadThe study investigates the performance of ICB close end mutual funds listed in the stock exchanges of Bangladesh. We used Sharpe, Trenor and Jensen measures to evaluate the portfolio performance of mutual funds. During the period of study all the mutual funds were performing well through the study ranked the third schemes of ICB Mutual Funds at the top based on almost all criteria. The implication for the investors is that if they are able to devote their fund properly in this scheme they can be able to harvest the best risk return tradeoff.Item Does Lean Manufacturing Fit in an International Supply Chain?(CRP, International Islamic University Chittagong, 2014-06) Chowdhury, Mohammed Mustafa Manir; Chowdhury, MarufHossanLean manufacturing is a production system built with the ultimate goal of increasing productivity, enhancing quality, shortening lead times, reducing cost etc. It has been very successfully applied in the automotive industry. Lean Enterprise concept is the application of lean systems to all the members of the value chain in order to reap the full benefits from it. However, firms are increasingly extending their supply chains outside their home country in search of low cost. Complexity arises when firms that have members outside their countries want to adopt lean practices and geographical distance, transportation irregularities, management vision, etc become barrier. This paper aims at analyzing how firms manage a lean and an international supply chain at the same time. It's a conceptual study based on literature review. Secondary material specifically journal articles are the sources of knowledge for literature survey in this study.Item Ethical Issues in HR Profession: A Critical Assessment in the Context of Bangladesh(CRP, International Islamic University Chittagong, 2014-06) Uddin, Mohd. Kamal; Kabir, Mohammad. JonaedThis paper attempts to study the sourcesIJorms of ethical misconducts that today's managers face in the organizational context. Because of the nature of the HRM function, HR-managers must frequently make and implement decisions with ethical implications. This explains why HR-managers want to make the HR-department the organizational locus of the responsibility for ethical behavior at work. During the process of making and executing HRM policies and practices, HR- managers however, are often torn as a result of strong conflicting pressures associated with the field. HR is partially about enhancing commitment and boosting control, training and manipulation, surveillance and upholding right to privacy, making provisions for 'whistle blowing' and policing disloyalty, empowerment and change, to mention a few. Other unethical issues involving favoritism in employment, inconsistencies in pay, sex and religious discrimination and breaches of confidentiality are faced by HR-managers on a regular basis. Downsizing and outsourcing often lead to problems in maintaining employee motivation and sense of well-being in the face of growing job insecurity. The fact is that they do face conflicts between morality and the motive for profit maximization. The motive for profit maximization induces the HR- professionals to violate ethical norms. These violations have most of the times been patronized by the employees of all levels of management, and even by the board or by directors individually and collectively. In particular, the paper argues that where regulatory compliances are sub- optimal, expecting ethical conduct is quite superfluous. There is no easy way to deal with these dilemmas. The regulatory authorities and other stake-holders should think seriously and take problem-specific measures in this area including the establishment of well thought out code of ethical conducts for businessmen as well as professionals in this fieldItem Evaluation of Stock Market Efficiency: A Case Study of Chitta gong Stock Exchange Limite(CRP (International Islamic University Chittagong), 2014-06) Mamun, AbdullahilThe study is an attempt to empirically examine the form or degree of capital market efficiency for the case of Chittagong Stock Exchange (CSE) over the period June 2008 through December 2009 employing the event study methodology which tests an investment scheme that is based upon the trading on information events and the event under consideration is 'earnings announcements ', The test result shows that the degree of capital market efficiency is very low. The presence of a good number of non-actively traded shares, informational asymmetry, price manipulation, floatation of so many IPOs within a short span of time are the leading factors originating lower degree of efficiency. Careful monitoring, effective intervention by regulatory bodies, timely disclosure and dissemination of all relevant information along with other corrective measures can reduce the hesitancy of investors and a significant level of market efficiency the CSE might experience.