Bangladesh's Corporate World

Economic strength of any country largely depends on how its financial institutions are operating. In developed countries, all the financial institutions affect almost same in their economy. But a developing country like Bangladesh, Banks are most effective as other financial institutions are not able to hold their sustainability for the long run. As the number of private banks is increasing in Bangladesh, the banking systems have become an integral part in the economic progress of Bangladesh. In Bangladesh, private banks are the direct contributor to the economy. It is known to all that every bank mainly operate for profit making but people and Government are dependent on private banks because of its growing pattern of branches, deposits, loans and advances, earning per share and so on. Banking process are becoming faster, easier, wider that attract people for believing on their work. Private banks of Bangladesh also provide financial support for startup business, providi...

The Qurbani, otherwise known as feast of sacrifice, and the Hajj attached to it, has a socio-economic significance. This year 1,10,576 Bangladeshis performed Hajj. Each of them on average spend three lacs each. That's USD415m in total. Money transaction takes place during Quarbani Eid. Banks get busy during Hajj. So does the travel agencies. 60,00,000 cows and 10,00,000 goats are slaughtered throughout the year across the country. 60% of this are sacrificed for Qurbani. Hide merchants' prime season is Qurbani Eid. Sellers of spices and refrigerators witness bumper sales during Qurbani Eid. Salt is used for preserving raw hide. There is  crisis of salt this year thought the government allowed duty-free import of 40,000 tons of salt.

Hiring the accurate employee for your company can get really difficult, as there are no shortage of information of the desired candidate, and a lot can offer same values which might get hard to shortlist. But what really gets your head scratching is your current employees, because appointing them in their correct fields is very important, or else there can be a huge wastage of potential. These employees can offer a lot and they should have the opportunity to show how far they can reach with their skills. A lot of steps can be very important to get the 100 percent from your employees, or else you can actually be their potential disaster, and other companies may come and hire them for their ability to see through their potentials. First and foremost, you must consider the reviews of your employees’ performance, because from that performance you can know where they specialize at. By knowing this, you can enable them to work in their comfort zone, where they will be able to shine even...

Bangladesh is a developing country with a large population. But the country is developing rapidly. The GDP growth is maintain a steady rate of 5.5% throughout the last five years. That is a clear indication that Bangladesh is developing and moving in the right direction. In earlier days, Bangladesh was dependent largely on agriculture and natural resources such as coal, gas, hard rock and silicon. But in recent years business sector has come up. The main sectors which are booming includes ready-made garments, textiles, cotton, jute, paper, newsprint, tea, chemical fertilizer, cement, sugar and light engineering. Among all these sectors ready-made garments sectors has emerged as the biggest earner of foreign currency. Next sector is tea. These two sectors are contributing significantly in GDP growth.  Besides ready-made garments products and tea, Bangladesh is also exporting leather and leather products, seafood, urea fertilizer, ceramic products, staple fibers, paper, raw jute a...

Salman F Rahman, the vice chairman of Beximco Group and chairman of IFIC bank, said that pharmaceutical exports of Bangladesh are about to take off. He predicted this during an interview with NIKKEI Asian Review.  He also said that stock market of the country is not a mature one and lacks institutional investors. The interview was published in March 2015 where he discussed many points with the correspondent of NIKKEI Asian Review. Salman F Rahman, a leading businessman of Bangladesh, talked about some core issues quite bluntly. In answering one question from NIKKEI Asian Review journalist Joseph Allchin, Salman F Rahman said the state owned banks were the backbone of the economy. He explained that in the early years of liberated Bangladesh, there were no private banks. Even when private banks started their operations, they were not big enough to provide support to the growing business sector. They did not have the capital adequacy to lend. It was the state owned banks those pr...

A Japanese leading company all over the world, Kobelco Welding which is a group company of Kobe Steel Limited situated in Japan has recently declared that they are going to enter in Bangladesh for business keeping an eye on the development of shipbuilding industry in Bangladesh recently. That is why welding equipments is started to be set in the Western Marine Shipyard which is known to be country’s leading shipbuilders. This is done through the dealers of local area TSI Marine Ltd. Bangladesh welding companies are mostly prevailed by the manual machineries that are a cause of lagging behind. But nowadays as the industries are advancing, the need of automated equipments is rising. So it can be said that the situations will change. The company looking forward to setting up a business in our country is about a hundred years old and very popular. It is remarked as Japans fifth largest and fifteenth largest steelmaking company in the world. The company has 36,000 people working for ...

“Match made in heaven!” the company owner exclaimed with pride after achieving a huge success in the big project thanks to his outstanding management team. Certainly, everyone aspires of a successful, harmonized and efficient team. Being the key ingredient of victory, an accomplished squad can make a huge difference in the fight for triumph. With a coordinated set of members, the race becomes easier and less stressful so, building a good posse is the initial step towards triumph captivation. A good team First of all, it is important to clarify as to what a good team actually means. A group of people who come together to work on the same agenda and through regular communication fruitfully approach the desired goal defines a good team. What makes a good team -  a great one 1.  Fulfill the role requirement :    A team needs presence of certain roles .Though I could have given a random list, but it is better to see what the researchers think . Accordi...

Beximco Pharma, a leading drug maker in Bangladesh and a unit of business conglomerate Beximco Group, secured a $51.6 billion loan from Germany-based BHF-Bangk Aktiengesellshaft. A German export credit agency Euler Hermes will be the guarantor of the loan. Earlier, Bangladesh Investment Board approved Beximco Pharma’s proposal to raise funds to utilize in new plant as well as machinery purchasing. The interest rate of that loan will be lower than that of local rate. It is only 2.25 percent. According to Beximco Pharma, the loan will be drawn down in four tranches and repayment will be made over five years in 10 semi-annual installments. The total interest bearing debt of the company was Tk.480 crore and debt-to equity ratio was 23.5 percent as of September 30 th in 2014. The cost of debt was 16.1 percent on average while debt-to-equity averaged 22.7 percent in the previous four years. That is why analysts think that this loan at a single digit rate will have immense impact...

BASIC Bank has taken an action plan to meet its capital short fall and cover up its negative image. A part of that action plan is that a certain portion of salary will be cut off from the BASIC Bank’s top managers. The BASIC Bank’s goal is to bring back its positive image by 2016. A letter of BASIC Bank to its financial manager reflects such goal and idea. BASIC Bank has faced capital short fall in the month of June of Tk 1,675 crore. It destroyed the image of the bank. The specialized bank in the action plan said that many international banks are not accepting its letters of credits because of these points. In implementing the action plan, the BASIC Bank sought Tk 1,372 crore on an emergency basis from the government. It is necessary to meet up the capital short fall. The top managers of the BASIC Bank have already been forfeited a portion of monthly gross salary. The purpose behind it is to minimize the operating costs. For the first time in the country, six deputy managing director...

Playing a vital part in advertizing, the right media can transform a regular commercial to a block buster advertisement. Where the appropriate media can convey the correct message to the spectators successfully, there the erroneous one can send all the wrong signals and turn the whole mission go in vein .Consequentially, all the efforts will bite the dust. In the current era of technology and immense competition it is quite hard to survive in the prolonged race of capitalistic without innovation and out of the box reflexes. This is so because, observation of the consumer behavior has revealed that, different is the new common in! Assuming the core idea is doing justice to the product and the overall model, apparently modernism is grabbing attention of the customers these days.   Alas! Most of the marketing strategy makers underestimate the significance of choosing the right media or the importance of the knowledge of strategizing. And very often, they stumble on the tho...

“Corporate culture! What is that?” There are many people who ask this question in spite of working several years in the corporate world. In spite of being crucially important, this motion is many a times left in ignorance and indifference. If you close your eyes doesn’t mean everyone else doesn’t see you. What I mean to state is, unawareness does not make corporate culture less important, and thus every corporate member must be aware of the concept of corporate culture and ways to make it healthier. Initiating the discussion, first let us understand what corporate culture is and go to its depth. The part of business involving employee attitudes, standards, policies and procedures, rites and rituals can be assumed as corporate culture. Although it is connected to the surrounding environment yet it has some unique traits as well. It can be negative, positive or even neutral. In most cases it is dynamic and changes with time but it can also be static sometimes. In a nutshell c...