Contents TIMES
06 From the Editor
Word of Mouth:
08 State of Affairs 18 Banking Corner 102 Happening
Columns by
12 Shamsul Huq Zahid 14 Mohammad Amjad Hossain 94 Op-Ed by Ferdaus Ara Begum
Interviews: 28
Katarina Szulenyiova
COO, Seedstars World
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Professor Durreen Shahnaz Founder & MD, Impact Investment Exchange (IIX)
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Farah Kabir Country Director Bangladesh, ActionAid
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Farzana Chowdhury ACII (UK) MD and CEO, Green Delta Insurance Company Ltd.
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Sayeda Tahya Hossain Chief People Officer, BRAC
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Lubna Habib Group Coordinator, Central Creative Services, Square Pharmaceuticals Ltd.
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Dr. Rubina Husain MD and Center Head, Institute of Hotel Management and Hospitality
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Priti Chakraborty Chairman, Universal Medical College & Hospital Ltd.
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Sohara Mehroze Shachi Freelance Journalist and Cofounder of Climate Tracker, South Asia
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Liza Hasan Marketing Director of HMBR Tools and Chemicals Ltd, Watercolor Artist
Diamonds in the Rough Women significant contributions to all facets of Bangladesh’s growing economy.
a global business magazine from bangladesh
Contents TIMES
TIMES
Vol. 7 No. 7 | March 2017
Publisher & Editor Director, International Publications Executive Director Managing Editor Assistant Editor Sub Editor Staff Feature Writer Designer Business Development Finance & Accounts Sales & Distribution
: : : : : : : : : : : : :
Abul Khair Zeenat Chowdhury Nawshin Khair Tawhidur Rashid Irad Mustafa Shaikh Ashfaque Zaman Asaduzzaman Sk. Yeahhia Md. Nizam Uddin Forhad Mohammad Imran Md. Abdul Alim Md. Nazrul Islam Md. Rubel Khan
the fortune fiber a global business magazine from bangladesh
TIMES
March 2017
TK. 100 | www.ibtbd.net
HOW INNOVATIONS IN THE JUTE INDUSTRY WILL ADVANCE THE NATION seams of prosperity
KDS GROUP'S EXPANSION INTO A MULTINATIONAL COMPANY stitching success
5 REASONS WHY SHENZHEN IS THE SEZ OF DREAMS social media
THE NEW WAY TO KEEP YOUR COMPANY RELEVANT
SEEDSTAR WORLD’S KATARINA SZULENYIOVA DISCUSSES THE IMPORTANCE OF LETTTING STARUPS THRIVE IN AN EMERGING MARKET
OF GRACE AND POWER THE WOMEN WHO ARE SHAPING A NATION THAT IS EQUALLY THEIRS
This issue’s Photographs by Din M Shibly Kazi Mukul Raiyan Momen Mohammad Samiul Wares
Editorial & Marketing Queries The Just Industry
As the largest producers in the world, we must continue to bring in innovation in order to reap all the benefits.
Features: 36 66 80 82 86 90 92 94 96 98 100 121
Special Report: The Golden Button A City Built to Build Behind the Ban Inspiring the Boldness for Change Photo Story: KDS Group There’s Been an Awakening Review: Symphony ZVIII USB-C: Connecting the Future Beyond the Business Textile Seminar 2017 Growing Your Social Media Tree Capital Market Update
tawhidur.rashid@ibtbd.net or send us a note at www.facebook.com/icebusinesstimes www.twitter.com/BusinessTimesBD
Be sure to visit our website www.ibtbd.net
Published by Abul Khair on behalf of ICE Media Limited Kushal Centre, Plot 29, Sector 3, Uttara C/A, Dhaka- 1230 and printed at M.K. Printers,189/1, Tejgaon I/A, Dhaka-1208 Editorial and Commercial office: 3rd Floor, House: 4, Block: B, Road: 23 A, Banani, Dhaka 1213 Advertising, Sales, Subscription and Distribution: 01812656961, 01715732425, 01759391168, 01850824294, 01611227676 Tel: 02 55035336-8, 09666773313
* Not all the views expressed in the columns and interviews are the views of the magazine.
FROM THE EDITOR What started as a national movement for equal pay for female garment workers in New York 106 years ago, has slowly grown into an endeavor to gain voting rights, end job discrimination and be provided with vocational training. Today, women are not only marching in the US but throughout the world, striving to be treated as equals. The first International Women’s Day was held on March 19th, 1911. Over a century later, the world celebrates the achievements of women in all facets of corporate, social, political and economic backgrounds. As a progressive nation, where women are half of the population, leveling the playing field is imperative for the advancement of Bangladesh. With the efforts of NGOs and micro-financing, women’s empowerments on rural and impoverished levels have seen significant progression. The women of this month’s issue have tackled the common notion that they are not as adequate, to excel in sectors from HR and Arts, to the Hospitality Management and Entrepreneurship. Additionally, women such as Sohara and Dureen are establishing themselves in avenues that have not materialized for their male counterparts. Being the first women to work on Wall Street, Dureen has changed the investment landscape of the nation as a Founder and Managing Director of Impact Investment Exchange while Sohara strives to protect a susceptibly weak Bangladesh from the irreversible effects of climate change. Nevertheless, the widely accepted notion that economic stability and high-power positions should be male dominated proves to be a deterrent for women seeking the higher levels of professional mobility. Across all specialized fields, women are predominantly contributing to unrecognized labor sections while there’s a noticeable scarcity in the formal labor sector that entails positions of leadership, management, and entrepreneurship. Furthermore, access to education, fair wages, and proper implementation of women-centric laws have yet to make a significant step on the equality ladder. These issues need to be addressed as Bangladesh becomes a globalized nation in which a woman enters any employment, academic or political field where she is weighed according to her caliber and not her gender.
Word of Mouth S TAT E O F A F FA I R S
Honorable Prime Minister Sheikh Hasina attending the Ekushey Padak 2017 giving ceremony at Osmani Memorial Auditorium
Honorable Prime Minister, Sheikh Hasina departing from Dhaka to attend the 53th Munich Security Conference in Germany
The Honorable Prime Minister, Sheikh Hasina handing over cheques as financial grants to school students Anik, Ridoy and others who were victims of fire terrorism and bomb attacks
Honorable Prime Minister Sheikh Hasina and the Chancellor of Germany, Angela Merkel at their bilateral meeting in Germany
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Prime Minister Sheikh Hasina attending a ceremony to attend the International Mother Language Day
Prime Minister Sheikh Hasina with President Abdul Hamid on Mother Language Day at Central Sahidminar
Honorable Prime Minister Sheikh Hasina meeting with Jens Holm, Member of Parliament from the Swedish Left Party
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Column
Transforming Their Destinies WOMEN IN BANGLADESH
Shamsul Huq Zahid
B
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angladesh is in the midst of a transformation that began in the early part of the 1980s albeit at a slow pace. Once dubbed as ‘international basket case’ by former US Secretary of State, Henry Kissinger, for its greater reliance on external aid to feed its large population, Bangladesh is now self-sufficient in food and has been growing at an average rate of over 6.0% for the past few years. Its GDP grew at 7.02% in the last financial year (2015-16) and this fiscal period it is poised to grow by 7.2%. International research groups and organizations are now seeing lots of potential in this country and tagging various ear-soothing titles with its name. Domestically and internationally, Bangladesh is being seen as both a half-full and a half-empty glass. The fact remains that it has never been an empty glass, meaning that it always had great potential.
What is even more satisfying is that its potential and performance is finally getting the recognition it deserves. As the process of transformation carries on, it is important to know the state of Bangladeshi women. Are they still confined to the four walls of their houses in a male-dominated society? It is difficult to get a straight answer. There is no denying that the majority of the women are still engaged in their traditional homemaking roles but there have been deviations. Some of them have broken the shackles, moved out the confinement of their homes and have
taken up meaningful economic roles. Though society is yet to give up its traditional attitude towards women fully, it has lost its rigidity regarding restricting them to homemaking roles. That woman belonging to middle and upper class would enhance their role in most segments of society is nothing surprising. Yet the path of their progress has not been without trouble and still, they are finding it hard to make their entry into some areas of the economy. But what has been most spectacular development is the economic empowerment of the poor rural women during the last three
The involvement of women in income generating activities has helped elevate their status at both society and family levels.
As the process of transformation carries on, it is important to know the state of Bangladeshi women. decades. Their empowerment, in fact, has been a dream come true. The export-oriented garments industry and microfinance options, together, have revolutionized the life of poor rural women in particular. Both avenues have successfully helped women pull themselves out of their four walls situation and offered before them the opportunities to make valuable economic contributions, regardless of the meager finance rewards. Microfinance operations, led by the Grameen Bank (GB) of Nobel Laureate, Dr. Muhammad Yunus, notwithstanding all the criticisms centering the exorbitant rates of interest, have helped millions of poor rural women and their families to eke out a living in difficult socio-economic conditions. There is no denying that microfinance has produced mixed results. Women who borrowed from the non-governmental organizations (NGOs) efficiently by investing in productive activities were benefitted the most. On the other hand, who used whole or part of the borrowed funds for consumption purposes, could hardly come out of the poverty cycle. Overall, the impact of microfinance has been far greater than any other activity on rural women. The involvement of women in income generating activities has helped elevate their status at both society and family levels. The male attitude towards women has softened, to some extent, over the years notwithstanding the fact any radical change in the chauvinistic attitude of the
males would take some more time. The most visible empowerment came through the country’s apparel sector. More than 90% of 4.0 million workers in the apparel sector are women. The majority of the women workforce in the readymade garments (RMG) sector belong to rural areas. Women workers in their thousands are seen walking in big processions to their factories soon after dawn and returning home after dusk. Even three decades back, all these developments were inconceivable. Women are also working in the construction sector, side by side with male workers. Their participation is also visible in other areas of the economy. The reality is that for the sake of their own survival, the women are not hesitating to take up menial jobs that traditionally used to be filled up by male wage earners. A society that once used to be described as ‘conservative’ also does not take exception to women working shoulder to shoulder with their male counterparts. However, women workers are very often treated unfairly when it comes to the fixation of wages. Women daily wage earners are given less than what the members of the opposite sex get. The overall approach of society towards women has been changing with families attaching greater importance to imparting education to their female members. That is why enrollment of girls in schools and colleges is almost on a par with that of boys. However, it would take more time for society to mete out equal treatment to its female members in all affairs. Another issue - the problems of women entrepreneurs - is often discussed in the public domain. Women are generally engaged in micro, small and medium enterprises. Large enterprises run by women entrepreneurs are
very few in numbers. That the women entrepreneurs would face problems while starting their business operations or running those is nothing surprising when their male counterparts have to bear with difficulties of all sorts. Women entrepreneurs at the micro level do not face as many hurdles as the women operating SMEs. Micro-level women entrepreneurs do manage funds from the NGOs rather easily. Securing funds become difficult if they default on loan repayments. Neverthless, the situation is altogether different for women wanting to start SMEs or running the same. They have been facing lots of hurdles while trying to manage finances. The policymakers and bankers make claims that things have been made easier for women seeking finances from banks and similar institutions but women entrepreneurs do often refer to difficulty in securing the same. They allege that getting funds from formal sources is still too difficult. However, they do agree on one issue that the overall business environment for women has improved. More and more women are securing jobs, including top ones, in administration, banking and other areas of the economy these days. The women entrepreneurs are pinning hope on cooperation and support from them (professional women). Hopefully, this will further improve their standing in society and bring in greater economic contributions.
The writer is a senior journalist. He can be reached at zahidmar10@gmail.com
www.ibtbd.net
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Column
The Faulty Forum SAARC
Mohammad Amjad Hossain
I
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t is regrettable to note that the 19th SAARC Summit has been postponed indefinitely as declared by the host country, Pakistan, as a result of India's pretext of terrorist attacks in Uri town of Jammu-Kashmir on 18th September, 2016. Incidentally, Bangladesh, where the idea of SAARC was conceived and launched, also joined India in boycotting the summit in Islamabad. It may be noted that the SAARC Charter prohibits discussion of bilateral problems between the member states on this multilateral forum for regional cooperation. Therefore, the spirit of the SAARC Charter has been violated. Over the last thirty-one years of the existence of the forum, many integrated programs of action have been included. Of them, the regional convention on the suppression of terrorism, poverty eradication and the South Asian Free Trade Area (SAFTA) remains hot topics in the SAARC. The
authority in India should have availed a regional convention on the suppression of terrorism to discuss how all countries in the region should evolve to a common strategy to stop terrorism in South Asia. Boycotting the SAARC Summit is not a solution; the 6th SAARC Summit was held in Sri Lanka in 1991; during this meeting, an independent South Asian commission on poverty alleviation which included eminent personalities of SAARC countries was established. At one stage of their study, this writer was
involved in organizing programs for the members of the commission to witness the activities of BRAC and GrameenBank. The commission studied diverse experiences of member states of the SAARC and recommended formidable macroeconomic targets for the eradication of poverty by 2002. Incidentally; Bangladesh has made tremendous progress in reducing poverty among member countries of the SAARC. Countries in South Asia are on different levels of the development ladder where
It may be noted that the SAARC Charter prohibits discussion of bilateral problems between the member states on this multilateral forum for regional cooperation. Therefore, the spirit of the SAARC Charter has been violated.
Many positives can be derived from the beginning of cooperation on a regional basis such as generating a climate of harmony conducive to a better perception of what countries in the region have in common and the value of this shared heritage.
some are relatively less developed than others. Nevertheless, they share many common values that are rooted in their social, ethnic, cultural and historical traditions. Of the countries in South Asia Bangladesh, Nepal, Bhutan, and Maldives belong to the Least Developed Country (LDC) status while India, Pakistan and Sri Lanka do not belong to LDC status. Afganistan was also added as a member of the SAARC during 14th Summit in 2007 which also belongs to LDC status. China, Japan, South Korea, Iran, the USA, and the EU are all welcomed as observers. The perception of a certain specific situation or world political event may differ, but such differences should not create a gulf between them that cannot be bridged. On the economic front, South Asia Free Trade Agreement was finally reached at the 12th summit in Islamabad in 2004. At the initial stage, Pakistan opposed the free trade agreement contingent upon resolution of the knotty Kashmir problem. The issue regarding Kashmir has been pending since the division of the British India in 1947. Both the countries have gone war three times regarding the dispute over Kashmir without any benefit except the loss of lives and money. The main objective of SAFTA is
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to float a free trade area in the SAARC countries. The seven countries are reported to have signed the agreement in 2006 while both India and Pakistan ratified the agreement but it is currently not in full operation. In fact, SAFTA has reduced tariff reduction to 0.5% in two installments while non-LDCs are required to reduce existing tariffs by 20% in two years from the date of entry into force of the agreement with LDCs, therefore, this will bring down the tariff level to 30% during the same period. It was expected that SAFTA will be in full operation by 2016. SAFTA has assumed the lead towards the greater economic integration in SAARC. It is understood that basic purpose of SAARC is designed to accelerate the process of economic and social development in member countries. Among SAARC nations - India, Pakistan, Bangladesh, and Sri Lanka represent growing economies while India represents the largest economy in the region. Therefore, both India and Pakistan should avoid confrontation for the betterment of millions of people in the SAARC region. Many positives can be derived from the beginning of cooperation on a regional basis such as generating a climate of harmony conducive to a better perception
of what countries in the region have in common and the value of this shared heritage. In view of the importance played by SAARC in an economic arena, it is imperative for Bangladesh, being the founder of SAARC, to dispatch a special envoy of the Prime Minister of Bangladesh to alleviate the differences between India and Pakistan over terrorist attacks by holding a summit. On the other hand, the present Chairman of SAARC, Nepal should take initiatives to resolve the impasse to hold a SAARC Summit for the benefit of the people of this region.
The writer is a retired diplomat from Bangladesh. He writes from Virginia, USA
Word of Mouth BANKING CORNER
Dignitaries at the Participating Financial Institution (PFI) agreement signing ceremony of the Urban Building Safety Project BDP 84. Bangladesh Bank's SME and Special Programs department is implementing the project where JICA is the international partner.
As a part of its partnership with Concord Real Estate & Building Products Limited, BRAC Bank Limited organized a training session titled “BRAC Bank Home Loan Process” & “Customer Service Awareness” for the officials of Concord Real Estate
The final advisory council meeting of 12th Citi Microentrepreneurs hip Awards program was held
National Bank Limited has been awarded by the Organizing Committee of “Conservation Agriculture for Small Holders (CASH)” for their outstanding contribution to Small Holders Conservation Agriculture and Farm Mechanization in Bangladesh
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Mir Shafiqul Islam, Head of Cards, NRB Bank Limited and Mr. Syed Yameenul Huq, Director of Sales and Marketing, Royal Tulip Sea Pearl Beach Resort & Spa signed an agreement recently on customer benefit on behalf of both the organizations
NRB Commercial Bank Ltd. signed a participation agreement with Bangladesh Bank for Two Step Loan fund for the project named “Urban Building Safety Project (BD-P84)� assisted by JICA
Standard Chartered Bank has arranged $32 million Diminishing Musharakah Facility for Noman Terry Towel Mills Limited and Ismail Spinning Mills Limited, two concerns of Noman Group
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Op-Ed
Entering the Tech Bubble WOMEN ENTREPRENEURS
W e are going to celebrate 8th March as the International Women’s Day every year. The theme for 2017 is “Be Bold for Change”. Though over a hundred years have passed since the declaration of Women’s Day and 45 years have passed since the independence of Bangladesh,
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the condition of women in Bangladesh leaves much room for improvement. The economic status of women is now accepted as an indicator of the stage of development in a country. As such, women entrepreneurs in Bangladesh are coming up with different ventures but are facing several problems, particularly in the field of access to finances, proper technology and infrastructure. Happily, the government has announced a number of policies/incentives for them, but the implementation of the same has been slow and almost unnoticeable. It is now time for defining how to increase access
to technology for women entrepreneurs as a cross-cutting factor to make them more competitive while letting them avail finances so they can afford both hard and soft infrastructures. Women entrepreneurs constitute less than 10% of the total business entrepreneurs in Bangladesh whereas women in advanced market economies account for more than 25% of all businesses. The Bangladesh Economic Association (BEA) estimated that women’s paid and unpaid work contributes between 20%-48% of the GDP, but there is no official statistics to recognize the contribution. While we analyze the types of
Recently the government agreed to provide a separate EZ for women in Chittagong; this would be a milestone in the history of Bangladesh if it can be implemented properly.
Ferdaus Ara Begum
The writer is the CEO of BUILD, a partnership organization of DCCI, MCCI and CCCI. She can be reached at ceo_build@outlook.com
women entrepreneurship, it is seen that a significant portion of such entrepreneurs is engaged in manufacturing (54%), remaining are in retailing, wholesaling and in service sectors. Since Bangladesh has opted for a manufacturing-based economy in the 7th Five Year Plan, the focus on the development of women entrepreneurship to create decent and quality employment and expand manufacturing base is very important. Access to technology for increasing the scale of production and improving
the quality of production of woman entrepreneurs was not included on the policy agenda, so far. For export-oriented industries, capital machinery import is exempted, but most of the women entrepreneurs are producing at the domestic level and cannot raise their voice in the field of the technology ecosystem. They are afraid of the use of ICT and not aware fully the benefits of its use. In accordance with the Vision 2021, it is very important to ensure women participation in the technological activities in order to accommodate then in different areas. The 7th FYP will encapsulate a strategy for inclusive growth which empowers people by creating employment opportunities, fostering the scope for greater labor force participation, particularly of women. A Bangladesh Bank Survey shows that the majority (77.4%) of the total women enterprises used manual equipment for their production whereas 13.8% used solely mechanical equipment and the rest of the enterprises (8.8%) used
both manual and mechanical equipment. The 7th FYP reported that only 15% mobile banking users are female, while according to data from e-Desk on Information Technology (IT) professionals, as of the fourth quarter of 2012, only 1,200 of 30,000 or 4% registered users were female. Only 15% of the total women enterprises were found to use information technologies for their business, while 13% of the workforce in the IT sector is comprised of women, most of them in junior or mid-level management positions, and only 1% of the ICT companies in the country are led by women. In Skill Enhancement Program which is under Support to Development of Kaliakoir Hi-tech Park Project, 2,162 people have already been trained and among them 26% are women. Under the Freelancer to Entrepreneur Development Program, 2,512 people have been trained among them 2,305 participants were male and only 217 participants were female. In the above circumstance, it is seen that access to www.ibtbd.net
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technology for women entrepreneurs in Bangladesh is not at all up to the mark but it is an absolute need they cannot escape from. Technology can benefit women in many ways. This includes the use of e-fax machines, electronic mail, mobile phones, video conferencing, instant text messaging applications, social networking applications etc. All these modern communication technology tools have simplified the way of businesses communication. The introduction of technology into their business can improve the quality of production, skill, and scope of work. They also are not capable of advocating in favor of their need and thus need a platform. Concern organizations such as Ministry of Industries, SME Foundation, Bangladesh Small & Cottage Industries Corporation (BSCIC) and other related organizations can come forward in this respect. There are some policies and projects such as Women Development Policy 2011, National Industrial Policy 2016, National Information and Communications Technology (ICT) Policy 2015, Gender Budget, Kaliakoir Hi-Tech Park, Software Technology Park (STP), Small and Medium Enterprise (SME) Credit Policies & Programmes by Bangladesh Bank, Public Procurement Rule etc. In all these policies there is a long wishlist to improve the status of women entrepreneurs but these issues need proper implementation from there end. Also, women need to become more aware of these policies and concerned
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women associations can play a part in this regard. Women entrepreneurs are mostly not engaged in export-oriented businesses as they lack the technical knowledge and access to high-tech machinery. Thus, they mostly use manual, obsolete and old equipment for their production so the product quality is not great and they cannot increase the scale of production. In the public procurement rules, there is a mention of sub-contracting. However, this could be amended to mention the prioritization of a women-led organization in this sub-contracting so that they can come up gradually. Many women are not aware of our industrial infrastructure so that the conventional system of industrialization is unfamiliar to them. For these reasons there is the need for a separate Economic Zone (EZ) is essential for women entrepreneurs. Recently the government agreed to provide a separate EZ for women in Chittagong; this would be a milestone in the history of Bangladesh if it can be implemented properly. In this EZ, adequate financial and technological support, power and gas supply, approach roads, transportation facilities, security etc. need to be ensured. All business opportunities for women and value chain entities should be present in the economic zone. Successful economic zone management approaches incorporate women economic empowerment along three dimensions – fair employment and working conditions for female employees, equal access to opportunities for
Women entrepreneurs are mostly not engaged in export-oriented businesses as they lack the technical knowledge and access to high-tech machinery.
professional advancement, and investment opportunities for female entrepreneurs. So far it is seen, Banks are usually reluctant to finance small entrepreneurs and especially women entrepreneurs, as they believe that supervisory costs for small entrepreneurs is much higher than larger businesses. Micro and Cottage entrepreneurs are dependent on the Micro-Finance Institutions (MFI) for funding, for which the cost of loan is high. However, it is true that MFI borrowers are sincere and they repay the loans on time. From the census in 2013, it has been observed that about 98.50% of the enterprises of the country are from small, micro and cottage enterprises and they have created about 22.5 million jobs out of the 24 million jobs created by the 7.8 million enterprises of the country. Boosting this sector and ensuring the quality of jobs would lead to greater employment in the country. For credit delivery supervision, banks and financial institutions can make the best use of technologies to reduce cost and for that reason, women entrepreneurs should be trained. Now mobile technology has become so popular because of its easy use. Financial inclusion is one of the primary agendas of the government and a Financial Inclusion Strategy is being prepared. It has been difficult for women to receive policy benefits. A Bangladesh Bank circular indicated that personal guarantees can be provided for loans up to Tk 1.5 million for women entrepreneurs which was raised to Tk 2.5 million in
2009. Banks usually need 2 (two) personal guarantees. The guarantor could be a spouse, parent, sibling or another family member. In the case of women, banks prefer husbands to be one of the guarantors. Some banks also need a third party guarantor other than family members. Business women usually face problems in case of providing a guarantor and have to depend on persons other than family members. In that respect, banks should maintain Bangladesh Bank guidelines and should not request for additional guarantors. Bangladesh Bank should make it clear that guarantor should not be restricted to husbands only. Bangladesh Bank could provide a directive to all banks so that their practices are gender neutral and extra requirements are not imposed while women entrepreneurs want to get loans. Women entrepreneurs face stringent conditionality for getting financing from banks and financial institutions. They usually opt for unofficial easy lending sources and faces serious obstacles to get out of those financial traps. Domestic Factoring is allowed but not popular. A domestic factoring guideline/policy could be framed to make it simple for them to get the benefits of factoring. Banks could be more sincere regarding Trade Financing especially for these entrepreneurs as they are sincere in returning their loan installments. Financing facilities are mostly available in the service and trading sectors. A survey of SMEs shows they have to visit on an average 15 times for one
bank loan, while it was 3 visits for loans from an informal money lender and 2.25 visits for loans from relatives and friends (Choudhury and Raihan, 2000). Women often prefer to take loans from friends and relatives due to the complex loan procedures. Refinancing schemes are becoming unpopular because of stringent and complex procedures. Information desks of different banks and financial institutions are not updated with information on incentives available for women entrepreneurs. For loan amounts exceeding Tk 8 lac, registered mortgage or cash collateral is also required for a loan. There is usually a processing fee of 1% for all loans. Documentation requirements for women entrepreneurs in this respect is also difficult. In the Women Development Policy 2011 in para 29.3 there is a mention that in order to facilitate the interest of the women, necessary laws, rules, and regulation would be enacted to extend technology support for the women. However, there is a limited investment for women’s greater access to technology in the manufacturing sector. Small and Medium Enterprise (SME) Credit Policies & Programmes of Bangladesh Bank, should have a special mention about the need for technology support for small-scale entrepreneurs. Women have achieved good prospects in the small and cottage and micro-home-based business. Their present involvement in manufacturing and involvement in construction activities is likely to continue. Women have emerged in several
Only 15% of the total women enterprises were found to use information technologies for their business, while 13% of the workforce in the IT sector is comprised of women, most of them in junior or mid-level management positions, and only 1% of the ICT companies in the country are led by women.
promising areas for enhanced female participation and employment. They now need to raise their collective voice for increasing technology access for maintaining their growing involvement in manufacturing and investment sectors. The Fourth Industrial Revolution (4IR) is building on the Third and it will be ICT based revolution. It is characterized by a fusion of technologies that is clouding the lines between the physical, digital, and biological spheres. Activities of 4IR are spread into different areas which are linked with climate change, sustainability, resilience, product recycles, industry value chain and so on. Women entrepreneurs are far behind in assimilating themselves with this neo-industrialization pattern. It is the policy makers who need to come forward to support them to sustain the changed environment.
www.ibtbd.net
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Interview
Katarina Szulenyiova COO Seedstars World
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SEEDSTARS WORLD
“I am still completely mesmerized by the amount of talented people that we are regularly meeting on the ground, and the unbelievable drive that people have to take matters into their own hands and change the current status quo.� Katarina Szulenyiova is the COO of Seedstars World, a Switzerland based startup competition that takes place in emerging markets. Having spent the past two years identifying the most investable seed-stage startups across 17 Asian countries for Seedstars World, Katarina has extensive insight into the recent entrepreneurial trends in the region. Her main passion lies in connecting the startups to the right partners to fuel their international growth. Katarina graduated from Leiden University with a Master degree in International Affairs and Diplomacy. After finishing her studies, she lived in Israel, the United States and Malaysia, where she worked on developing an e-health platform aimed at prevention of type two diabetes.
Q Please give us some insight regarding your work at Seedstars World. What can you tell us about your experience from working in emerging markets?
I have been working with Seedstars World for the past three years and the work itself has been incredibly rewarding. With a background in international relations and diplomacy, I was always passionate about understanding what was happening on the ground in countries around the world. Seedstars World, with our focus on emerging markets, gave me the unique opportunity to visit countries that I have only read about before, and understand firsthand how the economies of countries like Bangladesh, Myanmar or Indonesia work. I am still completely mesmerized by the amount of talented people that we are regularly meeting on the ground, and the unbelievable drive that people have to take matters into their own hands and change the current status quo. We have seen some impressive technological products coming out of emerging markets and I am proud that every year we can gather the best of them in Switzerland and showcase emerging markets for what they are - true hubs of innovation.
What is the advantage of operating in emerging markets?
We have been actively involved in emerging markets for the past four years. While four years ago, www.ibtbd.net
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You mentioned that you’ve moved part of your operations to Nigeria. How has that worked out for you?
Many small companies with social aspect tend to forget that in order to be sustainable, they need to have their business model set up in a way that would allow them to function independently without any outside involvement.”
the general attention of the startup world was focused on the major startup hubs, such as Berlin, London or Silicon Valley, we have already been working with entrepreneurs in countries like Iran, Colombia or Vietnam. And only now, when the attention of the Western World is slowly starting to shift to the more developing countries (just think of Zuckerberg’s visit to Nigeria), we have already established a strong foothold in those regions, and developed a much deeper understanding of how these ecosystems work. The main benefit for us, then, was the fact that we were able to identify promising investment opportunities before anybody else, which gave us the first mover advantage.
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For three years, we have been running our competition out of Geneva in Switzerland. However, our focus has always been on emerging markets, which is why we soon realized that we need to deepen our understanding of what it takes to actually live and work in one. And since our first investment was in a Nigerian company, SimplePay, we took the risk and opened our offices there. Of course, you cannot really compare living in a place like Geneva to Lagos. It is a city of 6 million people, with constant traffic, noise, safety concerns and everything that belongs to living in an emerging market. However, from a business perspective, it is very exciting. Just the city itself is generating around 10% of the country's GDP, and since the startup scene is really starting to boom, it was a perfect time for us to open our own collaborative workspace Seedspace and start running a 6 month acceleration program, during which we train highly talented Nigerians to build real tech products from scratch.
Were you able to glean information regarding the startup ecosystem in Bangladesh? What are your thoughts?
Definitely! We have been coming to Bangladesh for two years in a row, and it is a very exciting experience every time we visit. While it is understandably still catching up with other countries on the continent, we have seen a lot of enthusiasm for and support for entrepreneurs coming both from the private and the public side. Events, such as Digital World, are a right starting point to attract international attention to what is happening in the country, and the startup scene is very collaborative and tight knit,
which is also very positive. The startups are coming up with innovative ideas that are solving real life problems, with the stellar example being our year’s winner FieldBuzz, who are allowing managers to keep track of their field workers using smartphones. With prominent clients such as Danone and Unilever, FieldBuzz is solving a problem that is widely applicable to many companies worldwide, and is it exactly the kind of product that we are interested to support.
What would your advice be to Bangladeshi entrepreneurs looking to engage in social businesses?
Never forget to have a solid business model behind everything that you do. Many small companies with social aspect tend to forget that in order to be sustainable, they need to have their business model set up in a way that would allow them to function independently without any outside involvement. However, relying on an external support in the form of donations, charity or grants will make these companies always dependent on someone else, and in case any of the funding “dries up,” without a solid business model they will not be able to sustain their operations. As an example, another Bangladeshi company that we have met, MyCash Online, is providing migrant workers in Malaysia an online platform through which they can transfer remittances to their families back home. You can definitely see the positive social impact that My Cash Online has, but at the same time, they are making revenue out of the commissions that they charge for each transaction that they complete.
Interview
IIX Professor Durreen Shahnaz is the Founder & Managing Director of Impact Investment Exchange (IIX) and the IIX Foundation. After receiving a bachelor’s degree from Smith College, Durreen worked on Wall Street as a financial analyst at Morgan Stanley, making her the first Bangladeshi woman to work in Wall Street. In 1991, she returned to Bangladesh and worked with Grameen Bank. Her experience there proved transformative and she returned to the U.S to pursue a joint master’s degree: an MBA from the Wharton School and a master’s from the School for Advanced International Studies at Johns Hopkins University. Here, she continued to blaze a trail for Bangladeshi women and became the first female Bangladeshi graduate at the Wharton School of Business. Durreen founded the Impact Investment Exchange (IIX) and the IIX Foundation in 2009 with a mission to transform the way capital markets work – to move beyond profit maximizing and into impact maximizing. IIX has facilitated over $12 million in impact investment capital across Asia to date and aims to impact over 100 million lives by 2020. IBT’s Irad Mustafa got in touch with Durreen to discuss how her two organizations – IIX and IIX Foundation – have been improving lives all over Asia.
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Professor Durreen Shahnaz Founder & Managing Director Impact Investment Exchange (IIX) IIX Foundation
Q
Could you please outline the importance of impact investments in developing nations like Bangladesh? What kinds of obstacles are more apparent in growing nations like ours?
Impact investments are investments with the intention to create demonstrable social and environmental outcomes alongside financial returns. Impact Investing is an important approach to development for both developed and developing nations because it allows for communities around the world to unlock capital that is otherwise unavailable in a donor-based system to sustainably support enterprises generating positive social and environmental impact. In the last few decades, Bangladesh has made tremendous developmental progress. The country has grown a vibrant social-impact landscape and the current development narrative has been relentlessly driven forward by a diverse set of ecosystem players. Donor interest and conducive public policy, combined with the efforts of national-level organizations like BRAC and Grameen, have contributed greatly towards shaping the development paradigm in Bangladesh. But there is more to be achieved… It is good news that Bangladesh is rapidly becoming a middle income country; however, with this growth, Bangaldesh is also witnessing increased pressure on donor funding. In order to be able to handle our own development agenda and brace ourselves for the
effect of climate change, we need to approach the development agenda very differently. We need to embrace impact investing so that we can effectively use finance and financial innovation for social good. Beyond the country’s 26,000 NGOs and 600 Microfinance Institutions (MFIs), there is and can be a new wave of impact entrepreneurs looking to use market-based solutions to achieve development goals in the country. However, in order for impact investing to take hold in Bangladesh, it is critical to have a proper “infrastructure”. This requires donor agencies to change the traditional views of development and both the private and NGO sectors to embrace sustainable development from financial, social and environmental angles. IIX and IIX Foundation (formerly known as Shujog) will use its 8 years of expertise in impact investing to play a role in the sustainable development goals of Bangladesh.
What social business models would be most constructive for Bangladeshi businesses looking to become more socially responsible?
First, it is important for me to clarify that social businesses and impact enterprises are not the same thing. Social businesses are sustainable not-for-profits, while impact enterprises are sustainable for-profit entities. Because of their structure, social businesses largely depend on grant funding and, with commercial activity, can sometimes qualify for loans. On the other hand, impact enterprises are able to access equity investments due to their for-profit model and, thus, avoid relying on donor funding year-after-year. Bangladesh would benefit
In addition to being a pioneer in the impact investment space, IIX continues to receive great recognition for our ability to create innovative financial products that bring the social angle to capital markets as well as our commitment to providing impact enterprises across the world with the support and assistance they need to scale and optimize their impact.”
greatly from transitioning its traditional non-profits away from their donor-reliant structure by incorporating revenue-generating activities to sustain their initiatives. At the same time, the country will benefit from supporting for-profits that incorporate social returns via a double-bottom or triple-bottom line. By encouraging this movement, Bangladesh will be on its way to a more sustainable and resilient nation.
How are you engaging different communities through your programs? Can you elaborate on some of your more prominent endeavors which have led to you being recognized by the likes of Asia Society and the Wharton Business School?
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development equation. As a result, we have built a network of over 30,000 key development and private sector players to support our work and the impact investing movement as a whole. These players include NGOs, foundations, law firms, banks, accounting firms, CSR executives, impact enterprises, and family offices, among others. By building this diverse network with representatives from both sectors, IIX has in effect brought development and finance together and created “social capital markets.” In addition to being a pioneer in the impact investment space, IIX continues to receive great recognition for our ability to create innovative financial products that bring the social angle to capital markets as well as our commitment to providing impact enterprises across the world with the support and assistance they need to scale and optimize their impact. One financial product we have created is the Women’s Livelihood Bond (WLB), a $10 million debt security designed to unlock capital for Impact Enterprises (IEs) and Microfinance Institutions (MFIs) that are part of the sustainable livelihoods spectrum for women in Southeast Asia. The WLB is projected to empower over 350,000
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individuals, the majority of them women, and is supported by a diverse range of stakeholders like the Rockefeller Foundation, the Japan Research Institute, USAID, the Department of Foreign Affairs and Trade of Australia, DBS Bank Ltd, Australian and New Zealand Banking Group, Shearman and Sterling and Hogan Lovells. IIX is also an active participant in the Impact Reporting and Investment Standards (IRIS) working group for impact evaluation, and its assessment methodology has become an impact investment industry standard. IIX Foundation’s leadership role is also exemplified by the creation of its innovative Assistance for Capacity Building and Technical Service program (ACTS) that supports Impact Enterprises worldwide to raise investment capital and scale their impact. The ACTS program received awards from the Rockefeller Foundation and USAID in 2014 for its innovative nature.
IIX has been working in sectors like sustainable agriculture, water & sanitation, health, education and clean energy. Which sector has the most success rate and why? IIX works across a wide spectrum of high-impact
sectors to fulfill our three main mandates of promoting gender equality, community resilience and climate action. To date, we have seen the most traction on these outcomes in the sustainable agriculture and clean energy sectors. These sectors have seen the most traction with impact investment because they have the most established value chains, which is attractive to investors. However, a strong gender focus also cuts across all of IIX’s work, as we believe that poverty is not gender-neutral and that it is crucial to include women in development solutions. For this reason, our work brings gender to the forefront by prioritizing Impact Enterprises that are women-led or predominantly support female beneficiaries.
Given that you have been educated abroad, what curriculum can be integrated into our local system to make it more effective? Is IIX involved in such an endeavor?
I studied in Bangladesh at Holy Cross School until I was 10 years old. Holy Cross School did an amazing job at integrating social courses and self-sufficiencies with our school curriculum. We had to sweep our own classrooms, clean the rooms, volunteer at the adjacent hospital and help the children from the local slum area who came to study at the school after us. Holy Cross helped me understand and define the fundamentals of social good. I wish more schools would do that. In addition, it would be fantastic if school curriculums can integrate elements of impact investing so that the children learn how to be effective social intrapreneurs or ecosystem
players. Aside from supporting impact enterprises with an educational focus, IIX is not currently involved in programs that directly educate the youth. However, we do play a large role in educating professionals across the globe about impact investing and the opportunities it creates. As pioneers in the field, one of the key challenges we face is aligning diverse stakeholders from the private sector, public sector and civil society to imagine the possibilities that impact investing can bring to the world. It remains an important endeavor to create a narrative that binds seemingly disparate players together and helps them realize that they really are part of one ecosystem. To achieve this, IIX established educational programs that broaden and deepen the knowledge base about the space. For starters, IIX’s Impact Forums coalesce global leaders to facilitate dialogue on how to propel impact investing from a niche to the mainstream. IIX has organized six forums across five countries, convening over 2,000 delegates from over 50 countries. In addition to our Impact Forums, IIX offers training programs to educate ecosystem actors on how to play a catalytic role in the movement and expedite sustainable development. These include its Impact Academy, which provides customized training courses for corporate partners and industry professionals, and its Impact Institute, an academic institution with structured modules that aim to broaden industry leadership through academic and practitioner-oriented study in Impact Investing. IIX has trained over 3,000 individuals through both
initiatives. Our IIX Impact Institute is currently running its spring course for 2017.
IIX Foundation and Impact Investment Exchange (IIX) were both created to help facilitate the growth of communities and build capacities through impact investments. Could you explain to us how they are functionally different from each other?
IIX and IIX Foundation are sister entities that are legally independent of each other. IIX Foundation is the program management entity that oversees initiatives like the abovementioned ACTS, while IIX is the umbrella company that mobilizes capital for Impact Enterprises at different stages of maturity, conducts impact assessments to enable Impact Enterprises to understand and communicate their impact, advances knowledge about the space through action-oriented research, and empowers stakeholders to navigate the space through advisory work.
Are you and your organizations reliant on social media to engage the youth? Do you have any social media strategies which you use to reach the youth regarding pressing issues? We strongly believe that the youth, especially the millennial generation, are who will take the field of impact investment to the next level. IIX engages this population and reflects on their perspectives through both social media and our other publications. For example, IIX’s Impact Quarterly, a digital publication which shares IIX’s insights from the grassroots with over 25,000 readers, has discussed a variety of issues – ranging
from sustainable fisheries, innovative finance, mobile technology and waste management – from the perspective of millennials. IIX also has an active social media presence on Facebook, Twitter, Instagram and LinkedIn through which we engage youth on issues relevant to our work.
What’s the next step for both these entities? Are there any expansion plans?
IIX and IIX Foundation are expanding geographically into Asia, Africa and Latin America through establishing new offices as well as member chapters. In Bangladesh, we have established an IIX Foundation. Through IIX Foundation Bangladesh, we look forward to creating an effective impact investing ecosystem. As a first step, we are excited to replicate the Women’s Livelihood Bond in Bangladesh. IIX is also expanding the type of capital that we provide to Impact Enterprises through our IIX Growth Fund (IGF). IGF is a private equity fund that will help direct funds from Impact Investors to underserved markets in Asia including Bangladesh, Indonesia and the Philippines. By making direct investments ranging in size from $0.250 - $5 million into growth to pre-IPO stage entities, the Fund will leverage further private sector investments into portfolio enterprises in high-impact sectors such as energy, water, healthcare, agriculture and education with a cross-cutting thematic focus on accessibility, affordability and innovation. Other expansion plans include launching a licensing program for our impact assessments, as well
as an IIX Sustainability Seal to recognize and certify exceptionally impactful Impact Enterprises identified via our technical assistance and impact assessment services. We are also encouraging people to curate local IIX Chapters in their cities. We would love to have IIX Chapters in cities across Bangladesh to fuel the impact investing movement in their communities. Anyone interested in opening a chapter should contact us.
As the first Bangladeshi woman to work in Wall Street and attend the Wharton School of Business, what advice can you provide for other Bangladeshi women looking to defy the odds and become successful?
Finance and Wall Street remain male-dominated – so all the more it needs representation from women who can bring a different perspective. Seeing more women entrepreneurs and women executives in today’s world, I believe that these are positive signs of women taking hold of leadership positions. When I first started working in New York (almost 30 years ago now), I remember having to learn not only the language of finance, but how to dress right, how to be comfortable working in a very male environment, how to use US sports lingo, and how to laugh at myself – all of this while maintaining the stamina to work 100 hour weeks. All this would not have been possible if I did not have an ultimate goal in mind. There were days I was miserable but I kept on pushing because I would say to myself, ‘I am getting this incredible opportunity that very few from my country ever get, I need to learn everything I can and take it back….’. I
In addition, it would be fantastic if school curriculums can integrate elements of impact investing so that the children learn how to be effective social intrapreneurs or ecosystem players.”
had an incredible sense of responsibility towards Bangladesh and the rest of the developing countries. My sense of defiant optimism has enabled me to pursue my dreams in spite of the odds, and is something I hope other Bangladeshi women will have as well. The world needs more ambitious, optimistic, and defiant Bangladeshi women. Hold onto the truth that you are right and that your dreams will come true. Be defiant to the system that puts chains on you, but at the same time keep your optimism that you can make the world a better place. The world needs you.
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Special Report
JUTE
The Golden Button Designing diversified jute products By Monowarul Islam
Jute is a symbol of our national pride. The long history and culture of the Bengali nation are inseparably ingrained in jute and it has played a colossal role in the economic development of Bangladesh. The global environment consciousness is increasing demand for diversified jute products day by day. Jute is being used increasingly in rigid packaging and reinforced plastic and is replacing wood in pulp and paper. Jute and jute products are environmental friendly easy deposable natural fiber. Application of jute and jute products are not only environmentally friendly, it also helps to protect the environment from ecological degradation. With the growing awareness for a pollution free environment, world opinion is shifting towards the increased use of natural products.
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With the growing awareness for a pollution free environment, world opinion is shifting towards the increased use of natural products.
Significance of the Jute Sector in Bangladesh Economy
Presently around 35 million people in Bangladesh (20% of the total population) are directly or indirectly involved with the production, processing and marketing of jute products in the sector. Bangladesh exports almost 60-95% of the total jute and jute products of the world market and thus earns around 2,000 crores in foreign currencies on an average, each year. The most important and potent factor of the jute industry in Bangladesh is that all its raw materials are produced inside the country. This reduces our reliance on imported raw materials for this sector. The jutes produced in Bangladesh are superior in terms of its quality, compared to those produced elsewhere, due to climatic and environmental factors favorable for jute production. In the year 2010, scientists in Bangladesh invented the genome sequence of jute. This contribution of Bangladesh in the field of jute research received wholehearted appreciation across the globe. As a result of this invention multidimensional prospects and opportunities relating to jute industry are being generated.
Design Development and Diversification of Jute Products As the world’s second largest producer as well as the leading
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producer of high-quality jute, Bangladesh has a unique advantage in natural resource for producing diversified jute products. With its advantage in labor costs compared to India and China along with its existing export infrastructure, Bangladesh has the potential to become an attractive manufacturing hub for diversified jute products. In order to keep our jute industry blooming, diversification is desperately needed to meet the increasing demand of diversified and innovative products globally. The challenges for future success in this area lie in the swift development of product designs and market linkages.
What to do
The government of Bangladesh through the Ministry of Textiles and Jute set up the Jute Diversification Promotion Centre (JDPC) which was created with the vision of reviving the jute sector through the expansion of the uses of jute by vertical and horizontal diversification, thereby improving the socio-economic conditions of all the people directly and indirectly involved in the jute sector. Strengthening JDPC with the following initiatives are most essential for its expansion.
1. One stop solution center: A one stop solution center has to be established at Jute Diversified Promotion Centre (JDPC), so that the entrepreneurs can avail overall services from a common platform relating to improvements in design, product promotion, machinery, colors and so on. This one stop solution center will also act as an Information Sharing Centre to provide design related essential services, support and guidance to the entrepreneurs. This center would instantly ensure the flow of required information on the relevant subjects. 2. Establishing Design lab: A highly sophisticated design lab and design bank has to be established at the JDPC in which contemporary as well as old designs would be collected and preserved apart from inventing new designs. A color bank has to be established and color specific services would be provided along with the design lab. 3. Research and Development Unit: A design related modern Research and Development Unit has to be
established at JDPC. Efficient and skilled designers have to develop through adequate and quality trainings besides precisely defining the training contents and focus. Regular study and research on design as well as call for research papers should be conducted at JDPC’s initiative. 4. Capacity building of designers: Fulltime designers have to be appointed in government institutions relating to jute industry so that they can provide relevant support to the entrepreneurs. Persons working constantly on design including those in arts and crafts departments of different educational institutions can become involved in the design processes of diversified jute products. Capacity building of the existing Design Section of JDPC must also be increased. With the objective of imparting design development trainings to designers and entrepreneurs throughout the year, a Training Calendar should be initiated and developed by JDPC. It would also
invite new and contemporary designs from the designers and entrepreneurs against each and every item of the diverse jute products, throughout the year. 5. Exhibitions, Campaigns and awareness events: Design related competitions, workshops; seminars and so on have to be organized by JDPC on a regular basis throughout the year. Extensive campaign and awareness raising activities have to be undertaken at national and international levels concerning the use of diverse jute products. JDPC should also organize design exhibitions on a regular basis, besides recognizing and rewarding the quality and sophisticated designs to encourage designers so that they create more worthy and modernized designs in the future. The new generation should be targeted for use of diverse jute products and the items should be produced and designed keeping in view their particular demand and suitability. 6. Creating Central Design www.ibtbd.net
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Conclusion Institute: Also a Central Design Institute has to be established by JDPC. 7. Decentralization: Design related initiatives should not be Dhaka-centric only but decentralized and expanded throughout the country. 8. Forming design consultation groups: A design Consultation Group comprised of reputed designers of the country has to be created by JDPC so that they can provide relevant advice and support to the entrepreneurs. If necessary the international design consultants can also be involved with this process. 9. Using E-commerce and Social Media: An independent website has to be designed and implemented by JDPC for dissemination of all information relating to development and promotion of designs. Gathering ideas and information on different societies and cultures at home and abroad is extremely crucial for development and
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promotion of designs. Use of e-commerce mechanism should also be increased in order to expand the market of diverse jute products. 10. Uninterrupted supply of raw materials: JDPC should undertake initiative in this regard and ensure regular and uninterrupted supply of relevant raw materials for the required development and promotion of designs. 11. Branding and Copyright: Branding is very essential for any business development. Proper branding and marketing should be done to promote Bangladeshi jute and jute products in both domestic and international markets to enhance the growth of jute industry. Jute products should be designed specially on the occasion of various national days with a view to expanding their local market. Also, the production of various jute products as souvenirs which represent Bangladeshi culture and identity to the world community.
Copyright on innovative designs has to be ensured in order to establish designer’s or entrepreneur’s ownership on the concerned designs. Through this kind of initiatives a possibility of competitive design making and development would be encouraged. 12. Focusing on geo-textile: Bangladesh is facing the severe impacts of climate change including floods, river bank erosion, landslides, etc. In this regard, JGT might be the suitable copping or adaptation strategy. Jute as a geo-textile (JGT) is being used for soil erosion control, vegetation consolidation, agro-mulching, reinforcement, protection of river banks and embankments and in road pavement construction. JGT enables a cost reduction of almost 30-40% when used for reinforcing road construction due to its higher moisture retention capacity, ease of installation and superior flexibility.
Bangladesh is progressing by producing jute diversified products but it still need protected and improved. Rather than focusing on traditional jute products, we should understand the pulse of international market demand and act accordingly. Bangladesh should also focus on innovating a variety of jute products and thus encouragement and help for both government and private sector is needed. Globally, a number of industries ranging from fashion to automobile to ship building have started to see new possibilities in jute. Diversified jute products are biodegradable, photo biodegradable, non-toxic, non-plastic, acidic, hydrophilic, have high absorption of UV capacity & moisture, eco-friendly and easily disposabile. These products not only help preserve the environment but also plays a great role in the country’s economic development. The writer is the Senior Research and Communications Officer at the Bangladesh Centre for Advanced Studies (BCAS) and the Treasurer of IUCN Bangladesh National Committee.
Interview
Farah Kabir
Country Director Bangladesh ActionAid
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Q ACTIONAID
“When we open the dialogue of development, we cannot limit it to the economic sense of the matter; this concept should be extended to social, political, cultural and all other aspects.” Farah Kabir has been working in the field of development and research for close to 2 decades. She started her career at the Bangladesh Institute of International and Strategic Studies (BIISS). She has research experience and a host of publications especially on Women in Politics to her credit. At present she is working as the Country Director of ActionAid Bangladesh since June 2007. She won the "Nawab Ali Chowdhury National Award 2012" for her significant contribution in women's empowerment in Bangladesh. Previously, Farah worked with the British Council for close to ten years both in Bangladesh and UK. She was the Consultant Participative Democracy British Council Governance Team in the UK. She has acquired extensive experience and knowledge on development with specific focus on Governance and Women’s issues particularly “women in politics”.
Provided your extensive work in this field, what was the driving force that led you to such a fulfilling career?
I would say that it is a combination of both passion and having a mission. I have always had a passion for justice and diversity. I firmly believe that the many facets of society that include the structure, institution, and political class are not just. Witnessing the stark difference regarding the behavior of girls and women, I made it my mission to create the change I wanted to see. As my career progressed, it became a mission of change.
What is your observation regarding the advancement of our society especially the mindset regarding the development of women?
This is a rather complex answer because we are talking about an entire society, one which contains a wide diaspora of people. For the most part, the world is a patriarchy to the point where this thought process has become a norm. Because of this dynamic, the mindset of our people has not changed to the progressive ideology that is desired. We are definitely seeing that more women are striving towards advancements in economic, social and financial independence. However, they have so many more hurdles to overcome during this process that they are often taken aback. This idea becomes tricky because it involves both a quantitative and qualitative analysis of the society. Even though we see an increasing number of women in many work fields and political stratospheres, there has not been much progress in the quality of working conditions and favorability for women. Since the 80s, we have been able to witness the change in the mentality that is for the rights of women from both the private sector and governmental entities. However, since the middle of the last century, these ideologies have somewhat digressed. An act such as the Child Marriage Restraint Act brings to question the progress of our society given that in such time, we must create an official legislation to stop such a heinous act.
There is the concept of the development of women and then there is the concept of women in development. Which aspect is more prominent at the present stage?
If you search at length, you will find that the focus, effort, and investment is on the www.ibtbd.net
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For the most part, the world is a patriarchy to the point where this thought process has become a norm. Because of this dynamic, the mindset of our people has not changed to the progressive ideology that is desired.�
development of women. Nevertheless, these efforts need to be increased. When we open the dialogue of development, we cannot limit it to the economic sense of the matter; this concept should be extended to social, political, cultural and all other aspects. It is imperative that women themselves are the voice of development because they best understand this dynamic and the need for change. They should be allowed to articulate the priorities that need to be addressed, what is important for them, and how they would like to be treated. The real development of Bangladesh is a matter of creating a platform that provides an active role for women to plan legislations and political climates that create a sense of equality.
There are still some forces of negation in our society. How can women overcome them?
I believe that there will always be those that are against the progress of women given that the concept of male dominance is such an archaic idea that has been ingrained into our mentality for generations. The primary way to overcome this is for women to be empowered and realize their own capabilities. If you look at this in the context of the economy, the empowerment should come from the ever-significant contribution that women are making in education, RMG, agriculture and many other sectors. In this regard, women must unite and demand that they are given equal pay and recognition. Our society has a
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profound number of men who are proponents of equal rights and together we can combat barriers of gender inequality.
As a strategist, what is your key success factor in that case?
I do not know whether I am a strategist or not but I am definitely working diligently to change norms and conceptions of society. I believe that strategizing is a natural dynamic of the nature of my work and it allows one to expand their vision and see the bigger picture. You must understand the work, its context and the root cause or purpose for the set task and this is precisely what I have meticulously studied in the context of women. Given that the world is not always appropriate or idealistic, you must consider the financial remunerations for your work along with the environment and how favorable it is; developing the tactic to deal with such matters is a necessity. Also, keep in mind that not every approach to a problem will make way for a solution; you must try to find other methods when you do not face success with an older approach.
The attitude towards women’s involvement in economic activities have not significantly changed. How do you explain this reality?
I believe that this matter is rather complex. Provided that our mindsets have somewhat matured with time, we have observed the economic progress of women. However, introducing some policies which accept concepts such as child marriage seems rather absurd and is a definite step backwards. I work with women at the grassroots level, urban slums and various parts of the country and a great deal of them strive for a future in which they have the independence to work and create their own sense of stability. Unfortunately, due to customs such as dowries and the desire to marry a girl at a very young age, their lives are out of their hands. They are often children themselves when they
give birth and this cycle is extremely detrimental. In the context of economic activities in the formal sectors, there is much work to be done if the nation aspires to be a middle-income country, a dynamic that will not be possible without the contribution of women. Education and security should be the major priorities of women in every nation. I would like to highlight that the government has to utilize the large population of millennials, half of which are women. Only then will be able to create a fruitful future.
What are the main challenges you faced during your career?
I am quite fortunate that I have been able to work in a different organization. I have been recognized for the work I do. Generally, I have not been obstructed. I come from a family where my parents are encouraging, always promoting education and the progress of women and men alike. Furthermore, my in-laws and my husband have always been supportive of my career as it should be in every household. I was able to flourish in communities and organizations that promoted my growth as a woman and a professional. Sometimes it is a fact that we have to work under difficult circumstances where policy and legislations are not supportive. The policy, the allocation for development or women’s drive is not sufficient and they pose a great challenge. Right now I find that in our society, inequality has increased and in such a speed that we all are being challenged. Moreover, there is a shrinking political space that we can express our views openly; our society is losing its tolerance.
What kind of future have you envisioned?
My dream is to change the fate of the women and girls of this country. We can bring dignity and respect to the all human beings and turn this country into a nation where discrimination of any form is not welcome.
Interview
Farzana Chowdhury ACII (UK)
Managing Director and CEO Green Delta Insurance Company Ltd.
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GREEN D E LT A
“In Bangladesh, many organizations are not very comfortable about seeing women in top and important positions. I take pride in the fact that in Green Delta the scenario is totally opposite.” Farzana Chowdhury ACII (UK), Managing Director and CEO of Green Delta Insurance Company Ltd. (GDIC) is the first female CEO in the Bangladesh's insurance industry and has been heading Green Delta's insurance activities since 2013. Farzana brings with her a wealth of experience in Retail & SME banking, microfinance, micro-insurance, retail insurance, health insurance and other relevant areas. Being at the helm of the largest and leading non-life insurance company in the country, she has played an instrumental role in inspiring her team members and bringing success to her firm. This has helped them introduce innovative, customized insurance products to cater to the needs of various customer segments of the society like women, students, rural poor, RMG workers, migrant workers and so on. She is especially renowned for her commitment to her work for the betterment of women empowerment across the country.
Q You have been the Managing Director since 2013. Being such a successful business professional would you please tell us about your journey with Green Delta Insurance Company Limited? My journey in Green Delta Insurance has been pretty amazing so far. In 2013, I took over the position of Managing Director and CEO as the first female CEO of this sector. I launched the first comprehensive insurance scheme for women in Bangladesh named ‘Nibedita’. Nibedita gives trauma allowance for distressed women, covering them from rape, acid violence, road bullying, etc. apart from conventional accidental and other coverage. This product has been recognized by the United Nations Global Compact as I was declared as one of the 10 Local SDG pioneers for working towards ‘Women’s Economic Security’ and Gender Equality. I established the Retail and SME department in Green Delta Insurance as a part of the ‘Insurance for Everyone’ concept. GD Health - a comprehensive health insurance with Global Emergency Medical Evacuation Services was another achievement of mine. Niramoy Micro insurance for rural people was an innovative and timely project, which I’m really proud of. A similar product is Shudin, which is a micro-insurance scheme for Garments workers. I was invited as a speaker at Bangladesh Garments Industry Conference held at Harvard University, Boston where I spoke about implementing proper insurance policies in the RMG
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Now, 4 years after becoming the Managing Director and CEO of Green Delta Insurance, the obstacles are not completely gone but I can clearly see people’s acceptance regarding the paradigm shift.”
sector in Bangladesh. Probashi, which is a Comprehensive Insurance Scheme for Migrant Workers is also a pioneering product by Green Delta Insurance. The product was introduced keeping the hard working migrant workers in mind who contribute to our GDP greatly by earning remittance for our country so their security is of utmost importance. Another project worth mentioning is Weather Index Based Agriculture Insurance which is partly funded by IFC. I took the initiative to set up 2 subsidiaries of Green Delta Insurance. One is Professional Advancement Bangladesh Limited, an affiliation of CII (UK) which offers professional courses on Insurance and other financial sectors and the other subsidiary is GD Assist, which provides value added services for the healthcare industry specializing in Medical tourism. GD Assist has come up with a holistic approach to provide best healthcare solutions. I was instrumental in achieving the AAA rating for Green Delta Insurance, which became the first insurance company from Bangladesh to win such prestige accolade (for 3 consecutive years). Both Green Delta and I have received numerous local and international awards over the past few years. Among them IFM Award for Best Non-life Insurance Company of Bangladesh, SAFA
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Award for Best Presented Annual Report, ICAB award for Best Presented Annual Report, World Finance Award for Best Non-Life Insurance Company of Bangladesh, International ARC Award for Best Presented Annual Report, ICSB National Award for Excellence in Corporate Governance, World Women Leadership Award were noteworthy. Recently, we are working with the Health & Welfare Ministry of Bangladesh (Health Economics Unit) for a project titled ‘Shashthya Surakkha Karmashuchi’ (SSK) where Green Delta Insurance is the scheme operator. This is an initiative of Bangladesh Government to bring the Below Poverty Line people of our country under Health Insurance. Now we are looking into Digital Insurance and working to build a sustainable and ecofriendly environment at our workplace and beyond. We have recently signed with the ICT Division of Bangaldesh Government for digitalization of the insurance sector. We also signed with the A2i of Prime Minister’s Office regarding activating sales of insurance products from 5,000 union digital centers all over the country. More and more initiatives are being taken every day and I leave it up to everyone else to evaluate our success.
What are the challenges of working in the insurance sector as the Managing Director and CEO of Green Delta Insurance Company?
Working as the first and the youngest female Managing Director of the insurance industry of the country is no walk in the park. I feel that I had to work twice as hard as a man to achieve this position. As our society is visibly male dominated, there were a lot of people who tried to pull me down and deter my growth. A large number of people didn’t believe I could manage to come this far. So it was a big challenge for me to prove my worth to the world.
Then again, there were a good number of men who supported me, encouraged me all throughout my career and made me even more confident. Now, 4 years after becoming the Managing Director and CEO of Green Delta Insurance, the obstacles are not completely gone but I can clearly see people’s acceptance regarding the paradigm shift. The scenario in my office as well as in the industry is slowly changing for the better.
Many women feel discouraged about their employment as a result of the glass ceiling. What is your take on this? Do you go through similar experiences on your way to your current position?
I consider myself very fortunate as I personally never hit a glass ceiling on my way to the current position. I mostly worked with very supportive male colleagues and seniors. However, there were many barriers which I had to overcome by working harder than a man. In Bangladesh, many organizations are not very comfortable about seeing women in top and important positions. I take pride in the fact that in Green Delta the scenario is totally opposite. Not only I, but many other important units and departments are headed by women. I feel big corporates should set examples to change this practice and come forward to create a better work environment for both males and females which will ensure a smooth career path.
Bangladesh is further integrating itself with the global economy on a daily basis. What is your opinion of our position for women in the corporate world? How can we get more female CEOs in the business domain in Bangladesh?
In Bangladesh, the Prime Minister, the Leader of Opposition and the Speaker of the Parliament are woman. It is a sign that Bangladesh is moving
We need a significant change in the mindset of the employers. While recruiting, generally an employer in our country prefers women for desk jobs. Many areas, especially Sales & Marketing, are seen as male territory.” in the right direction in terms of women empowerment. However, the corporate sector should justify this even more. Although we already have a number of prominent female personalities as the movers and shakers of the corporate sector, this number needs grow significantly in the next few years. More needs to be done before we can realize our dream of empowering every woman in the country as women are still, in general, looked down upon by their male peers when it comes to professional aspects.
What are the main requirements for reducing the gender gap and creating a more equitable work place for any organization?
We need a significant change in the mindset of the employers. While recruiting, generally an employer in our country prefers women for desk jobs. Many areas, especially Sales & Marketing, are seen as male territory. Women in Sales & Marketing are recruited mostly for their looks rather than their skills. We often see job advertisements mentioning gender preferences which is not even legal in many developed countries. Also, an employer should create a secure and healthy work environment which doesn’t pose as any sort of threat for women. There should be strict
HR policies to avoid any sort of harassment on women.
You’ve launched a number of schemes to help with the development of women in our country. Out of them Nibedita has been highly successful. Can you elaborate on its story?
The main idea behind Nibedita is that women empowerment is the pre-requisite for socio-economic development of a country. Bangladesh, being a developing country with a consistent growing economy has seen a sharp rise in women being more involved in economic activities in both micro and macro levels. As a result issues such as gender equality and women empowerment, amongst others, are widely discussed. This eventually brought the concept of Nibedita to cater to the needs of women and make them more self-dependent. Besides the traditional accidental coverage areas, Nibedita does cover few extended areas e.g. trauma allowance in case of rape, road bully, robbery, acid victims. The extended coverage also includes loss or damage to household goods/personal effects due to fire/lightening, riots, storm, typhoon, flood, cyclone and earthquake. It does not, however, cover pre-existing disability; death, injury or disablement arising from actions while intoxicated or under the influence of drugs and so on. Initially launched on a pilot basis in 2013, Nibedita is now officially in the market and attracting a wide array of women from different walks of life. Eminent media personality and successful female entrepreneur, Ms. Shomi Kaiser was the first woman to avail this product. Green Delta felicitated her with an award for being such an encouraging woman. All the women who availed the policy proudly portray the slogan – I’m a Nibedita in various forms of communication materials. Nibedita provides a maximum coverage of Tk 1,000,000 (ten lac) with the minimum net premium of Tk 580 per person
(inclusive of VAT) per lac. So far around 3,000 women have availed the Nibedita scheme to safeguard their future. The policy holders range from university students & housewives to entrepreneurs, corporates, athletes and artists. A good number of policy holders have already been benefited through this scheme. Former Rotary District Governor and eminent personality, Ms. Safina Rahman, got her claims settled promptly after an unfortunate event took place resulting in missing valuables from her residence, thanks to Nibedita as she was a policy holder. Another case study shows us that a female worker in the Saad Musa Group got compensated after a tragic accident took place and having a Nibedita policy helped her get through the difficult phase of her life. Nibedita has gone out to the world outside of insurance as well. Nibedita has created a One Stop Service for Women Healthcare, Safety and Social needs to stay beside the women who are in actual need of support in any form. A digital platform has been created for the Nibedita Women which will give them access to a better lifestyle, healthcare and most importantly safety through a mobile app. In the Nibedita mobile app there’s a panic button upon pressing which in times of perils a woman can send instant messages to her friends, family and law enforcement agencies. Recently this panic button has been integrated with the national helpdesk (999). As I’ve mentioned before, the concept of Nibedita has been recognized internationally by UN Global Compact and it is working to bring together women from all walks of life so they can be of help to each other through sharing experiences and best practices.
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Interview BRAC
“Though I have extensive experience in the HR sector, I have to consistently prove myself. I had gone to an interview where they questioned my capabilities as I entered the door because of my gender and my age.� Sayeda Tahya Hossain
Chief People Officer, BRAC
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s we overlook the view of Gulshan Lake and the Mohakali slums, Tahya recalls the moments when she knew that she realized moving into the development sector of BRAC HR would be the future of her career. “I had a long-standing career in both development and corporate HR. As the HR director of one of the multinationals, I was also in charge of CSR activities. As part of their activities, we wanted to work on some intervention work in the area.” They had decided to speak to the Chairperson Sir Fazle Hasan Abed of BRAC regarding the prospects. “When we had met with the team, they not only proposed the idea but went beyond. I was in awe of his ability to envision a larger picture for the overall development of the nation and that is when I knew that BRAC was the place for me,” elaborates Tahya. With 20 years of experience in both corporate and development, Tahya has worked for multinational companies including Nestle, Unilever, Lafarge and Citi Na. She explains that HR in the development sector is still lagging, “I noticed that the corporate structure of HR in most companies was up to the mark because they have an international model to follow; they follow a global system and decisions are made much faster in these sectors. So upon entering the force, I wanted these changes to be administered and customize them to allow for progress in a BRAC that was benefitting the entire nation.” She has witnessed the change in the development sector as they now understand that performance is the key. “BRAC believes it is not simply about performance in the context of money; this concept entails sustainability and finds out new ways to achieve it. And development sectors are beginning to understand the value.” Tahya believes that the primary factor to success is a productive work ethic, “When I had first started working I was newly married and would notice that the other employees would work on Saturdays and extended hours. Unfortunately, I had a number of responsibilities towards my family so I was determined to finish my work on time. As I walk into a room, I have to prove to them that I can work during the designated hours and get the task done without stretching it because I am distracted.” As a working woman with a family, she emphasizes the need to find that balance between your domestic and corporate life. “You must decide how much of your time you want to designate to each aspect of your life and work in accordance to your capabilities to get the work done in a punctual manner. Furthermore, you cannot use your family duties as a crutch. If you want to be treated as an equal you must compartmentalize the many responsibilities you have and complete your work in a punctual manner. Everyone has numerous responsibilities in life but they should not interfere with your work repertoire.” Although she works with people, Tahya reminisces about her early years when she was an introvert, “I had always known that I wanted to work with people.
Nevertheless, I would be straight to the point and seldom engaged in conversation. During my time in Nestle, the Managing Director would always ask me about my day and I would reply with simple formalities not realizing that he was trying to inquire about my day to day work activities.” She chuckles as she remembers the day that he had approached her and advised her to market herself, “He told me that I must market myself in order to be recognized, explaining that I do some of the hardest work in the office but it is not recognized because the services is being marketed by a peer or a supervisor. In an industry where men dominate every working field, women must work hard but also remember to highlight their accomplished in order to be recognized as a commodity.” In a country where women are 50% of the population, Tahya states that women are imperative for the overall advancement of the nation but they commonly underestimated. “Though I have extensive experience in the HR sector, I have to consistently prove myself. I had gone to an interview where they questioned my capabilities as I entered the door because of my gender and my age. When I first join a company, they want to know my theories, ideas, and contributions that I could bring to the table. It has come to the point where I have started wearing sarees so I look older and am taken more seriously. However, this should never be the case, your performance should talk about your capabilities.” Tahya cites that individualized learning is the key to progress in any field, “Education and learning are two different things and there is a necessity for both. In BRAC, we do send individuals abroad for higher studies. In terms of technical programs, we have numerous programs that are predominantly geared
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People, value, and capacity come together and this process starts from the recruitment.” towards fieldwork. Furthermore, we are introducing the leadership academy to develop future leaders for BRAC and other organizations. At BRAC, we believe that learning is a continuous process.” Beyond these learning programs, BRAC has a number of geared towards financing women because that is the foundation of independence. “We believe in financing women or providing them with provisions in order for them to become financially stable. For example, we provide cattle for women, different types of loan who are pursuing for their won stability. We do understand that in many instances, the money that we gave them are being siphoning to the rest of the family and their male counterparts. Fortunately, the recognition of women as independent entities is rising within the nation.” Tahya has redesigned her floor of the famous building of BRAC, “I have focused on furniture with glass and lower cubical walls in order for everyone to have ease of overall communication.” Always keeping her door open, she explains that she walks around the entire floor constantly interacting with everyone. “I believe that the most important aspect of creating an effective team is establishing an individual relationship with each and every member of your team. This helps you understand their strengths and weaknesses, makes them more open to approach you and help them adapt to any changes that may come their way.” Tahya believes that after you have understood your peers, you must allocate the certain task to them according to their strength and interest. “Based on individual strength, you must give individuals tasks during which they take the lead and provide them ownership to complete the task. This allows them to tackle new challenges, grow as employees, and provides them with a sense of motivation because they know that the senior management trusts them with a certain task.”
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Building the BRAC Way Tahya explicates on the necessary challenges that HR must tackle in 2017:
Going Global: The world is becoming smaller as globalization is inevitable and we must learn to have a global mindset. Our nation is in the preliminary position of building this thought process and we must advance rapidly if we want to recognize on a global scale. At BRAC, we require certain employees to complete a stint in a foreign country because with adaptability to any changes has become a necessary quality. Manifesting Mobility: International mobility is directly related to having a global mindset. Exposure to various cultures in different environments is a separate education that provides one with an insight like no other. My own experiences in multinational companies have given me knowledge that I would have never gained in any other mannerism.
Top Talents: This is a particular challenge for the development sector because we expect the same amount of work as a corporate conglomerate without equal remuneration. The top tier talents are being poached and we must work our best to retain them because their scarcity will prove to be extremely detrimental to the overall development of the economy and nation. In this regard, we must work on capacity development.
Retaining Reputation: With the advent of the internet and access to information, the inside mannerisms of a company is very transparent. You must decide what your company stands for and what kind of branding you want to do. Employees want to know the ethics behind the company itself and the kind of impact they are making. I knew I wanted to work for BRAC because they have branded themselves successfully as one of the pioneers of development for the impoverished.
To create a High-Performance Organization (HPO), Tahya credits the cultural trifecta of this concept to be interrelated, “People, value, and capacity come together and this process starts from the recruitment. If you want to hire someone of the sufficient caliber, you must appreciate them from the very beginning. This starts with paying them the correct remuneration because they should not have to worry about financially providing for their families. Beyond this, you must consider their market competency.” Tahya states that this involves recognition of their market competence; they must be given recognition for a satisfactory job, promotion in terms of capability, and development of the employee in a cumulative manner. With a permanent staff of 40,000 and a total staff of 100,000, BRAC has implemented a system of assessments beyond the technical performance appraisal which will help them understand employees strength and improvement areas and lead to a structured development process. Tahya expounds, “In this context, we have introduced psychometric systems, developments centers, and a series of interviews that allow us to further comprehend the employee’s strength and improvement areas which may help us define on their future responsibilities. We are also focusing on development of our female managers to grow them in the system.” When inquired about her future, Tahya envisions herself changing the mindset of the nation, “The world is changing at such a rapid rate that we must learn to be innovative and creative. Completing the same task creates a sense of redundancy which stifles creativity. And if we do not change our thought process to think outside the box, growth will not ensue.”
Interview SQUARE
“I had known from the very beginning that I wanted to be a part of this exhibition because the money that was raised would go to help countless victims that had been afflicted. I realized in those moments that my art which was my greatest passion would create an impact.” Contemplating a career in the arts, Lubna Habib, knew that she had chosen the right path during an exhibition following the 1988 monsoon. She recalls participating in a exhibit with hundreds of other art students of Chittagong, “I had known from the very beginning that I wanted to be a part of this exhibition because the money that was raised would go to help countless victims that had been afflicted. I realized in those moments that my art which was my greatest passion would create an impact.” The impact that she had made inspired her to pursue a career in the arts and realize her passion for the field. Lubna has taken her career beyond the canvas, not only has she flourished in one of the country’s leading pharmaceutical companies for almost 2 decades, she has also managed to run a number of successful art galleries. As we walked from her gallery to her residence, Lubna details the many journeys she has had in life, from her education in fine arts, working in a multinational corporation, and still making time to create her own masterpieces.
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Education
Imagination and creativity has shaped the entirety of my youth. Every aspect of my childhood gives me the opportunity to reminisce times filled with life and colors. It was really a spur of the moment decision to study fine arts, but I like to believe that my obsession with vibrant colors and arts and crafts from a very young age drove me to it. My first class in the Fine Arts Department at University of Chittagong led me to believe I had made the right choice. Another milestone during my time in University of Chittagong was when Professor Alok Roy, an internationally renowned sculptor, organized a weeklong workshop for his students. With his help, we were able to transform clay into magnificent sculptures and pottery from scratch, for which we had received substantial acclaim. The sense of accomplishment that I was given following the workshop propelled me to extend my boundaries into the fine arts and discover what the medium for me was.
Making of the Medium
As a fine arts student, I’ve explored many mediums throughout my life. Some were complex, some were fascinating, and some were downright a pleasure to work with. However, none of them even come close to
oil on canvas. Many people find my fascination with this particular medium peculiar, as it is very difficult to master. Yet the idea of mixing paint and oil together to create blends and strokes of masterpieces is so alluring. I am able to create contours and structures, highlight the emotions evident in someone’s eyes, the shadow of an object in a precise form, simply with a few touches of a brush and this medium. The dimensional possibilities with oil on canvas are truly endless.
Canvassing a Career
My career in a creative sector began with Madonna Communications Ltd., an advertising agency. Working in an advertising agency was challenging and fascinating at the same time. However, I had applied to Square Pharmaceuticals Ltd. at the same time, and soon after joining the ad firm, I got a call from them asking me to come in for an interview. Upon taking the interview, I was selected for the position and asked to join immediately. I had really started to enjoy working for Madonna Communications, but the idea of being able to work for an internationally renowned pharmaceutical company exhilarated me. I took the job and have been working there for over eighteen years. The aspect that made me hold my ground here at Square was quite simple. Lack of creativity in most pharmaceutical companies isn’t something unusual. However, here at Square, the opportunities are quite endless. Along with my job came acknowledgment of my work and growing respect for
Lubna Habib
Group Coordinator Central Creative Services Square Pharmaceuticals Ltd.
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my field. These past years working here has been exhilarating, progressive and allowed me to flourish; attributes that I equate to the environment, which is very homely, and the people are very supportive. I have received international recognition and admiration for products and promotional marketing items I’ve designed. My paintings can be seen in many embassies. All these opportunities have come along with the responsibility of the creative service sector of a leading pharmaceutical company in this country and I doubt I’d get this many incredible opportunity anywhere else.
Creativity amongst the Corporates
For a few years after my post graduation, I had trouble keeping my creative juices flowing. There may have been a few instances where my brushes met canvas in this time, but even then it wasn’t anything sincere. I found myself investing all my time in my job, the workload, and my family. I didn’t stop for a moment to think about what I was giving up in the process until about six years ago. I had a moment of awakening. As an artist, I believe that failing to nurture the creative vision that has been bestowed on you is nothing short of a crime. Hence began my numerous attempts to implement my passion for arts into my workplace. I started off small with the promotional design. Eventually, I found many more opportunities, as the
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Group Coordinator of Creative Services, for which I could utilize my artisanal perception. I took the responsibility for creative marketing into my own hands. I found a way to introduce art in the process of approaching new ways for marketing and communications. While information and pharmacology are the norms for marketing, my artistic take on it has been described as a ‘breath of fresh air’.
linseed oil is like my personal heaven. There have been days where I started painting and lost track of time and ended up watching the sunrise. I do most of my work at the gallery. Upon the completion of each painting, I hang them up on the walls. Friends and family have visited the small gallery and bought paintings at minimum cost since it's not a commercial project. Nevertheless, at the end of a day, time to myself in this familiar sense of paradise is much needed.
Functionality vs. Aesthetics Executing Exhibitions When it comes to the creative aspect in the corporate world, the sector has become tightly regulated over the years. Targeted pharmaceutical content marketing is a very tricky concept. Since there isn’t much room available for fine art in a pharmaceutical corporation, it is important to find the right balance between functionality and aesthetics. In terms of promotional and marketing design, I make use of my creative vision to interact with the general public while keeping the company’s objectives intact. I find a way to connect with them on an emotional level, subsequently managing its informative and persuasive nature.
Less Talk, More Art
After a busy day of work, household chores, and spending time with my family, I like to visit my art gallery just two minutes away from my apartment. After a hectic day, the familiar smell of paint and
Since I began my career, I’ve done one solo art exhibition and about over a dozen group exhibitions. In 2009, I had done an exhibition with my husband. It was a unique experience for me considering how supportive he’s been since the very beginning of our journey together. We’ve worked alongside each other on numerous projects as students. Afterward, we have both been involved in various nationwide group exhibitions as well. However, this was the first one we worked on together, just the two of us, outside of organizations. I had my first solo exhibition three years ago. It was held at a Bronia café/art gallery. The response I received was incredible. I guess when it comes down to individual preference; I would definitely opt for solo exhibitions instead of groups. I might have participated in several group exhibits over the years, however the feeling I experienced when I saw my work, and my work only,
filling up the spaces on the walls of that café is indescribable. As people admired my painting, finding joy and appreciation in something that I had created provided me with a sense of fulfillment and empowerment in my abilities. It was a marker in marker in my career as an artist because I had gained the confidence that I could display my work independently.
Career Talk
The decision to study and pursue a career in the arts is definitely one of the best ones I’ve made so far. There are stereotypes insinuating that job opportunities and success in this field of work are sparse and uncommon. That is a widely believed misconception. Not only can you actively paint or sculpt for a living, it is also incredibly easy to implement your imagination and talents into any work environment. To this day, people seem unconvinced about the link between creativity and effectiveness, despite the fact that it has been repeatedly proven to be true. I, for one, have been incredibly lucky enough to have parents who have done nothing but support me and encourage me to follow my dreams in a time when studying fine arts was highly unpopular. No matter how difficult the circumstances are, despite most people’s perceptions on this matter, I believe it is important not to hesitate in pursuing a career in this field if job opportunities and success are what one is worried about.
Interview HOSPITALITY INDUSTRY
“Our government needs to encourage and facilitate organizations (public/ private) based on the Skills and Employment Policy to participate in provision of trainee/placements/ apprenticeship and share responsibilities for preparing trained apprentices at all levels to progress and make Bangladesh a proud nation.” Dr. Rubina Husain is the Managing Director of Institute of Hotel Management and Hospitality (IHMH), Vice President of Bangladesh Federation of Women Entrepreneurs (BFWE), Secretary General of Industry Skills Council (ISC) for Tourism and Hospitality Sector, UN Committee Chairman, Zonta International, District 25(Bangladesh, India, Nepal and Sri Lanka). She obtained her PhD and MPhil in Competency Based Training in Hospitality Sector from the Regents of American World University in collaboration with University of California, Distance Learning USA. She completed her MSS and BSS in International Relations from Dhaka University in 1983 and 1981 respectively. Rubina is a prolific writer, an ardent researcher, a high and accomplished presenter, A Master Trainer and Industry Assessor from TAFE Australia and Bangladesh Technical Education Board on competency Based Training (CBT). She’s also is a trainer of Support and Improve Your Business (SIYB) Bangladesh in Entrepreneurship Enterprise Development.
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Q What are your views on the hospitality industry in our country?
The hospitality industry has been around decades and is one of the fastest growing service industries assisting the country to earn more revenue. The Bangladesh Government has initiated the drive for implementing the district branding and image building of the country through many aspects of development through skills, training, employment and apprenticeship programs to minimize poverty and unemployment. The National Skills Policy (NSDP) was established in 2011 with the initiative of International Labor Organization (ILO) and Bangladesh Government. The need to develop a robust infrastructure whereby policy implementation can be monitored, with good governance of quality assurance measures i.e. ongoing audits, etc. for continuous improvement in service development and professional development (CPD). Our government needs to encourage and facilitate organizations (public /private) based on the Skills and Employment Policy to participate in provision of trainee/placements/apprenticeship and share responsibilities for preparing trained apprentices at all levels to progress and make Bangladesh a proud nation.
What are the scopes and challenges for you in this industry?
In the hospitality sector, Human Resources (HR) are our biggest asset. The National Skills Development Council (NSDC) and Industry Skills Council (ISC) for Tourism and Hospitality has been working together giving importance to reviewing, monitoring, and implementing training and certification under recognized training organizations registered under Bangladesh Technical Education Board (BTEB). They will work to up-skill and upgrade the HR in this sector, turning smaller skills into employable skills based on units of competencies through competency based training delivery. The scope to reach to the general mass is through training information and country-wise campaigns to enhance the importance of skilling and certification.
Dr. Rubina Husain
Managing Director and Center Head Institute of Hotel Management and Hospitality
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However, the barriers are manifold like in any other sector; infrastructure, logistics, up-skilling and language should be prioritized by the government so they turn these challenges into positive changes with innovative ideas for growth and development. Our institute IHMH was established in 2004 representing the private sector, later upgrading the level of certification as Registered Training Organization (RTO) under BTEB based on CBT as a Master Trainer and Industry Assessor, and initiative of ISC for Tourism and Hospitality Sector as Secretary General. The units of competencies on priority occupations was implemented by ISC for Tourism and Hospitality with public, private, industry stakeholders was to focus on fastest growth through training and employment. I believe that in time the challenges will become less of a matter given that the nation’s mindset is changing for the better. For example, previously, being a chef was an occupation that was frowned upon but now individuals are learning to think outside the box. People are becoming more educated and knowledgeable about the value of culinary trade, housekeeping and various other services.
Can you give us an idea of how the government is pushing growth in the hospitality industry? What initiatives have they taken in this regard? How can the private sector collaborate to bring bigger results?
The Bangladesh Government is pushing the growth of Tourism and Hospitality Sector through campaigns in urban and rural areas with importance given to standardize technical/vocational skills training, technology transfer through web portals, district and image building branding, through private public partnership. As a representative of the private sector and a board member of the Industry Skills Council, I feel proud to see the growth in many aspects through standardized training, apprenticeship and job placements to meet the demands of these sectors. These changes have taken place due to competency and skills policy implemented through National Technical Vocational Qualification Framework (NTVQF) in accordance with the level of
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People from various units of competencies such as food, service, tour guide and housekeeping are not only being trained and certified, they are also obtaining practical knowledge from the industry with apprenticeship programs.� education, ability and recognition of prior learning. Furthermore, 6 levels were established, starting with different levels of competency and assessment by certified assessors for the various fields of staffing and management. This is very progressive because it is establishing a standard level of quality throughout the nation. The people from various units of competencies such as food, service, tour guide and housekeeping are not only being trained and certified, they are obtaining practical knowledge from the industry with apprenticeship programs. Our Honorable Prime Minister has given priority focus to skills and employments to combat poverty and unemployment. With that training and employment and apprenticeship are very important in order to retain jobs and make it a sustainable revenue earning service sector. The ISC is planning to train 5,000 people in 5 years timeframe supported by Asian Development Banks Project on Skills and Employment. Similarly we also hope to assist in adding more numbers in top and mid-level management training with support from the relevant industries and align with other government organizations and donors to increase the capacity on trained personnel. The private sector has also taken initiative to implement a 5 year apprenticeship program to place trained HR in different aspects of skilling, grooming, and placement through appropriate job placements.
At the ISC, you are working with various industries. Could you elaborate upon which industries you are currently working with?
When I say the industries, I mean the hotels because tourism is centered around these hotels. Here, human resources are in dire need for training. Amongst the 64 districts, we are focusing on 32-34 districts, division and Upazilla level hotels that are listed in support of this sector. More importantly, for the first time the public and private sectors are joining hands to fill in the gaps, find the requirements, and upscale the task force regarding these matters and fit them into industry standards. Our target is 5,000 skilled employees in 5 years but this is just one project. There are 12 RTOs (in Public /Private Sector) registered under the BTEB to facilitate CBT training modules all over Bangladesh. Our primary goal is to train 67,000 people in the other 11 sectors in the 5 years’ time frame, by adding value with entrepreneurship enterprise development, with training and certifying through Support and Improve Your Business (SIYB), Bangladesh (with ILO initiative). As a Senior Vice President, I will say that each and every entrepreneur will have the opportunity to train, certify and conduct business through their chosen products and business plan. I represent the Bangladesh Federation of Women Entrepreneurs as the Vice President and coordinating inter-district skilling is much needed. Nowadays, all entrepreneurs have the scope for growth in a formal way. SIYB Bangladesh will train these entrepreneurs to promote their careers at their individual capacity. Then it will teach them about their products, the importance of their product and their environment and clientele. Finally, they will learn through market analysis, how to establish sound business and financial plans. We have already trained 300 aspiring entrepreneurs, most of whom are housewives with small businesses with limited education.
Why is the SYIB program such an essential part of building skills?
The SIYB program is across 100 countries with 370 accredited master trainers, 64,000 trainers, and more than 3,300 affiliated companies which
have established themselves in 40 year and in 40 languages. There are over 15 million clients, 4 million start-ups, and 9 million additional jobs that will add value to this service. We have aligned ourselves with SYIB Sri Lanka which was established by ILO, Geneva. We have been training people since last year, and we have trained about 43 trainers into the scheme of master training. There are four levels of entrepreneurship ranging from start-ups on product knowledge, improving knowledge of the product, and finally creating a business plan and implementation for through expanding their businesses. Through SIYB Bangladesh, 43 trainers are already on the field practicing their specialty. We are working on catering to the individual needs of every district in accordance with their capacity at whatever demands and needs through meticulous analysis. On that basis, we are aligning with a few NGO’s and local donor associations focusing on training and employment. For the 1st year we’re targeting 5,000, on the 2nd year we are targeting 10,000 and in 3-4 years’ time, 25,000.
If we consider opportunities for women, what is the next big sector except RMG, for women?
We all know that 50% of women of our country need to be trained at professional levels and find employment to become entrepreneurs. Most of our trainings are women-centric. When topic of the glass ceiling arises, we need to rise above it all and start fresh with a positive drive to place women in all 11 recognized sectors. As women are equal contributors to the overall prosperity of the nation, we have to be more positive towards gender equality and human rights which has to start from the home. All families need to understand what gender parity is all about and stand united for its growth and development. The growing sector for diversification besides RMG are Leather Finished Goods, Farming (fish, cattle vegetables), Handicrafts, Boutiques, Catering, Manufacturing, Beauty Salon, Interior Designer, Training Institutes, etc.
What is the most rewarding part of being a trainer?
Whenever I approach people to train, I feel the passion to train through sharing
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my stories, giving importance to education/knowledge, self-confidence and dignity of labor. My parents would say that education was their investment on us but my two sisters and I grew up with values and principles that only our parents could instill in us. I, as a trainer accepted all my challenges and knew that I would overcome and think positively for other people’s growth along with mine. I have been practicing positive thinking meditations for more than 14 years. As I am a 4th stage ovarian cancer survivor since 2009, the positive thinking of mind over body has helped me to overcome most of my challenges. Losing my mother at a young age, I was fortunate to have a father who was very progressive, encouraging us to find our own path. He taught us to be happy with the little things; dignity, honor, respect and perseverance cannot be taken away from you. As I started my journey into training, I realized that there was a dire need for training in the hospitality sector. The employee pool was only concerned about getting the job for money and employers would assume that they would learn about the work on the job. When we first advertised hospitality, I was the first woman in private sector to open a training institute in this field. I feel proud to say that I have made a lasting contribution to this sector by being a part of the team of ISC for Tourism and Hospitality that put this sector on the map. What is even more important is that we can look forward to more improvements to come in the near future.
Is the message of providing the skills via the governments and these programs being delivered to the masses?
Training and certification itself is a very new matter. We really need to think of how critical it is for our people to be properly placed on a national and global field. The policies are there with government support. Bangladesh is in the map to become Middle Income country by 2030. Those skilled persons need to be recognized and assessed for the quality services. They need to be skilled and certified
with language proficiency to get better remunerations home and abroad as they can act as the brand ambassadors of our country. The stakeholders, industries, private sectors, have taken initiatives with the government bodies to improve and expand for a sustainable end result for appropriate job placements.
What is the state of women’s empowerment in the county?
Luckily enough we represent the Federation, Chambers and Associations for women entrepreneurs along with SME Foundation for the support and growth of women in our community. Representing the Bangladesh Federation of Women Entrepreneurs as the Vice President and Zonta International District 25, as the UN Committee Chairman we are working towards empowering women through service and advocacy and the capacity building through skills and employment. Also following the directive of the UN on Sustainable Development Goal No. 5, i.e. Gender Equality, Violence against Women, Health and Nutrition, Education etc. There are many organizations assisting in contributing to women empowerment. We need every women to be able to stand on their own feet financially independent to be able to have a say in everyday walks of life. With the right education, their self-confidence, knowledge, skills and attitude will assist in each other’s growth to understand that men and women need to co-exist and work hand in hand with an understanding of respect, dignity, and honor. On behalf of SIYB Bangladesh (Senior Vice President) we train entrepreneurs to expand their business horizon through business plans. The women mostly work from the house. They know the profit and how to obtain it but they need to know how to do it according to a template of a business plan in order to gradually expand their businesses. They will learn through mistakes and eventually grow through taking risks. The most important aspect that needs to be improved is education, skills recognition and support in order to empower women in our country.
Shenzhen SEZ
By Subah Ali A Special Economic Zone (SEZ) is an area in which business and trade laws are different. It is specifically designed for increased FDI, trade, jobs, and investment. In 2014, Shenzhen (situated in Guangdong Province, China) beat out Hong Kong as the most competitive city; in what economists termed as miraculous. However, Shenzhen did not get to its position by sheer luck and miracle; its policies and structure were all built to become the top SEZ.
HERE’S HOW:
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Innovation and Technology
In the 21st century, the role technology plays in the economy cannot be denied. Hence, it is no surprise that in order for an economy to move forward, it needs to support innovation and technology. Shenzhen has done just that, spending 4.05% of its GDP on Research & Development for Innovation and Technology, while Hong Kong only spent 0.73%.
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Intervention
Hong Kong believes in positive non-interventionism economics, where there’s an open market with very little government intervention. While this policy may be helpful for established firms, the absence of regulations and support spells trouble for firms that are starting out. This is where Shenzhen came in, being a nurturing haven for startup businesses. For example, Frank Wang, the founder of DJI Technology, moved his business from Hong Kong to Shenzhen. DJI now has 70% of the global market for civilian drones.
INTERNATIONAL
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Shenzhen’s existing supply of resources, combined with its cheap manufacturing space has become the ideal place to easily turn ideas into prototypes; which is why Wazer co-founders Matthew Nowicki and Nisan Lerea moved to Shenzhen, 8,000 miles away from their homes in the USA. Their prototype, a commercial waterjet cutter that could compete with million dollar machinery, is being developed in an office provided by HAX, a venture capitalist firm.
What sets Shenzhen apart, and also gives them an advantage over many other entrepreneurial cities is the friendly economic environment. Producers, designers, manufacturers have formed a strong ecosystem, where creativity seems to be the only limit. The relationship between each link of the supply chain only grows at each stage, where entrepreneurs can see exactly what their products are being turned into, hence creating the best possible product.
While it has become an incubator for start-up businesses to grow, Shenzhen is also home to some of the largest manufacturers, including, Foxconn Technology (the largest contract manufacturer of electronics, makers of hardware for Apple Inc). Not many cities have managed to do what Shenzhen has done - where both small and large businesses have flourished in the market, leading to greater economic growth - product output per land area is the highest in the country.
Converting Ideas into Reality
Effective Supply Chain
Harmonious Economy
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Interview
Priti Chakraborty
Chairman Universal Medical College & Hospital Ltd.
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UNIVERSAL MEDICAL
“We can also adopt these aspects of assessment, problem finding, planning, implementation, evaluation and consistency in our respective sectors to make the necessary improvements.� Priti Chakraborty is the Chairman of Universal Medical College & Hospital Ltd. (UMCH) She received her M.Sc. Degree with Honors in Chemistry from the University of Chittagong. She served at Square Group of companies for about 8 years at the beginning of her professional life. She obtained her diploma in cosmetology from U.K. and also received training on perfumery in Switzerland. She also received training on total quality management (TQM) at Japan. She participated in a Govt. workshop on responsibility Community at Malaysia. She accompanied the Prime Minister of the Country as a business delegate in different countries.
Q You have had extensive training in Europe and East Asia. What educational elements can Bangladesh adopt from these regions?
The training from the developed countries basically focused on your weaknesses and skill gaps to give you a wider perception. These counties have a clear understanding about their trainees’ needs, strengths and weaknesses and try to focus on the same. These trainings are so consistent on stressing on the skills, frequency and delivery of these sessions (group or one-to-one). They are always updated regarding the things going around and always provide the incentive to learn with the best possible methods. Since they focus more on the practical, they do proper evaluations with proper follow-ups and assess the areas of improvement for the next session. It is so promising to see that these extensive trainings run consistently. We can also adopt these aspects of assessment, problem finding, planning, implementation, evaluation and consistency in our respective sectors to make the necessary improvements.
As the female Chairman of the University Medical College & Hospital Ltd, have you received any criticism or faced any preconceived notions regarding your capabilities?
Leadership does not depend on the gender. It is a skill which should be limited by such boundaries. Even though I am from typical Bangladeshi society,
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Leadership does not depend on the gender. It is a skill which should be limited by such boundaries.”
I am lucky to say that I have never faced any criticism for being a female entrepreneur and I must thank the world around me for believing in my capabilities.
Could you detail the journey of your success? Someone once said that “success is a journey, not the destination”. We feel successful when we do something that is worthwhile for the country or society, but I feel that I have not done anything like that yet. However, due to my dedication I never give up my responsibilities. I have not reached that point of success but I find extreme happiness when I see a formerly sick patient recovering fully then going home with a smile on his/her face. As for the story of my journey, we started out as a small hospital named Aysha Memorial Hospital in 2004 with the objective to provide the best quality health care services in Bangladesh. Afterwards, we materialized ourselves to be a multidisciplinary healthcare institution, providing tertiary level of care with the core value to develop a healthier health sector. UMCH has realigned itself as an innovative medical service provider through a completely
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revolutionary strategy with a history of excellent care and innovation. Operating in the health sector is different compared to any other business. Regardless, my team and I have worked hard, overcome many challenges and went through ups and downs with our shared knowledge, skills and experience. With their continuous hardship, after one decade of serving people, UMCH has turned out to be one of the most rapidly growing multi-disciplinary super-specialty tertiary care hospitals in Bangladesh. With 250 beds, it is a specialized hospital which has been working with a single motto - to bring a smile to everyone’s face. Recently, we celebrate a year of success of our cardiac center. We are also shaping the future health care leaders in our own arena via our medical college and nursing institute. We have expanded our horizon from being just a specialized hospital to a Medical College and Hospital in 2013. We have also started Universal Medical Services in Barisal.
There is a large disparity of doctors in Bangladesh, along with a lack of trained human resources and health facilities. How do you believe the nation can combat this dynamic? If we look at the present situation, both the government and the private sector are contributing to this industry in terms of manpower and health services in every way possible. Every year, a number of private and government healthcare facilities are being established to add a brick to the continuing development of the health sector. Right now, more than a 100 medical colleges, many nursing institutes and technical centers are producing future healthcare professionals. Even though medical manpower is being produced, their perspective and
skills are to be expanded with skill development programs. In order to develop their status, we need to do something more like technical collaborations, easing medical travel requirements, mutual recognition of clinical training and qualifications of training providers. And last but not the least; the government should invest more in the health sector (both in private and public segments). In doing so, we can combat the health care challenges that may rise in the future.
Technology is redefining the mannerism, methodology and diagnosis time for patients. Why must doctors be encouraged to utilize technology? How are you implementing these practices in your hospital?
Technology comes out from continuous research, dedication and work. It is the people’s efforts which make the actual work efficient and effective. Therefore, it is wise to stay at the forefront of technological developments. We have always encouraged our doctors to use the appropriate technologies in every means. That is why we are so concerned about the latest technology and try to bring them to our institution. If needed, we also send our health care professionals for national and international training/seminars.
Are there any educational or residency programs geared towards encouraging women to join the health field?
We don’t have any special programs encouraging women to join this field but nowadays we can still see a significant number of women specialist are coming out from our Medical Institution helped by government and non-government institutes.
Interview
Sohara Mehroze Shachi
Freelance Journalist and Cofounder of Climate Tracker, South Asia
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Q GLOBAL SHAPERS
“Even if one person becomes more environmentally conscious and brings a little change in their day-to-day activities to reduce their carbon footprint, that is an accomplishment.” Following her graduation from Yale University, Sohara Mehroze Shachi created a career from her passion of environmental advocacy, the arts and writing. She has written extensively on climate change in both national and international publications as a freelance journalist. Sohara is currently leading the South Asia Hub of Climate Trackers and works at the UNDP for the empowerment of climate vulnerable people. She recently attended the World Economic Forum’s annual meeting in Davos as a Global Shaper, representing the voices of millions of climate vulnerable youth.
Could you elaborate on your experience as a Global Shaper?
I am the Vice Curator of the Dhaka Hub of Global Shapers Community - a network of youth who are dedicated to bringing positive changes to their communities. As a part of the hub, I am currently overseeing two projects. One of them is The InvisiBellas – a project that uses street art as a medium to spark conversations on gender issues. The other one is Odommo, which aims at making Dhaka a more disability inclusive city by making public places more accessible to people with disability.
You have been educated in both Bangladesh and abroad, moreover, you hold interactive sessions in various institutes across the nation. What do you believe need to be implemented in the academic criteria in Bangladesh? How can we encourage women to pursue further education? I think education can best prepare youth for the future by inspiring them to take action in the present to face the world’s greatest challenges such as climate change. Moreover, the 4th industrial revolution will make many jobs obsolete in the near future, necessitating a new set of skill sets and thinking process. The academic criteria need to be flexible and dynamic to account for such changes. Women are already pursuing higher education in greater numbers than ever before, and statistics show that incoming classes of many universities have a higher proportion of males than females. The problem often arises when it comes to joining the workforce or climbing up the career ladder, as society prescribed gender roles often put women in a position where they are expected to be the sole caregiver of the family, thus putting them in an unfairly difficult position compared to their male counterparts. To give an example, we still talk about giving “maternal leave” instead of “parental leave” assuming child rearing as well as bearing, is the primary responsibility of the female. Such systemic gender discriminatory issues need to be addressed if we want to encourage women to not only pursue higher education but also be able to make a mark for themselves beyond getting a degree.
What inspired you to pursue a career in combating climate change?
Our country is one of the most climate vulnerable nations experiencing increasing frequency and intensity of floods, cyclones and droughts, and youth will be bearing the brunt of climatic impacts. In this context, the need for action is crucial, and I realized that as a youth the best way I can do so is by highlighting climatic issues utilizing the power of the written word. With that aim, I began writing in various national and international publications to raise awareness of global warming, fossil fuels, and renewable energy issues. I am also leading the www.ibtbd.net
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Bhutan is often cited as the perfect example – the only carbon negative country of the world, meaning it absorbs more carbon dioxide each year than it emits from its factories, vehicles etc. The country with over 70% forest coverage is now aiming for zero net greenhouse gas emissions by 2030.”
South Asia Hub of Climate Tracker – the world’s largest network of youth journalists focusing on environmental issues, to help groom more youth advocates of climate action.
What are the major factors that equate to global warming in Bangladesh and how can we overcome them? How can we educate tomorrow’s youth to take an initiative?
As a country, we emit very little greenhouse gases compared to global levels, so our primary concern at the moment is adapting to the impacts of climate change. Our country has already made significant investments in climate interventions, including setting up the Bangladesh Climate Change Trust Fund with $200 million. But as a resource constrained nation, we also need significant international financial and technical assistance, especially with exacerbating impacts of climate change.
You emphasize the necessity for millennial to act against climate change, why is it imperative that they act now? What are some of the actions that they can take? Our generation is perhaps the last one that can end climate change, before it escalates to catastrophic levels, so our action is crucial. Sadly, many youths are either not aware of the impacts their actions
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are having on the environment, or think they don’t have the power to have a significant impact, and hence keep on littering or polluting, thinking it’s the government’s or someone else’s problem to solve. The first thing the youth need to realize that success is not all about being able to bring policy change or making big corporations cut down carbon emissions. Even if one person becomes more environmentally conscious and brings a little change in their day-to-day activities to reduce their carbon footprint, that is an accomplishment. So what youth can at the very least do is reduce wastage and energy consumption on a daily basis by bringing small lifestyle changes, such as printing on both sides of the paper (and often not printing at all), walking instead of using motorized vehicles and reducing meat consumption.
Could you elaborate on your experience at Davos? Following your experience, is there any message that you would like to convey to young girls across Bangladesh?
As youth unattached to any organization and unrestrained by any vested commercial interest, we the Global Shapers - were able to put many world leaders on the spot by asking questions many other Davos participants were not able to because of how much they had at stake. For instance, I was able to ask the Chairman of Saudi Aramco about the negative impacts the fossil fuel industry is having on the planet and the dependence on the industry on government subsidies for survival, which he acknowledged was unsustainable. I also did a Facebook live interview with the head of the World Wide Fund for Nature (WWF) which was viewed by over 70,000 people where we discussed some of the critical environmental issues of today and the urgent need for the engagement of the private sector leaders who have gathered at Davos to safeguard the planet. I believe this is the greatest impact of our participation
- to keep world leaders accountable and to force them to think beyond their organizations’ profit motive for the greater good of the society. In terms of advice to girls, I would say we are living in an incredible age today when access to information is cheaper and easier than ever before, and there is a widespread recognition of the importance of gender equity. Girls need to capitalize on these factors and as Sheryl Sandberg says “lean in” to not only make the most of the available opportunities but also create opportunities where none exists. For instance, I mentored two girls recently who come from very underprivileged backgrounds from a remote village in Kaliganj of Lalmonirhat, who found out about a global public speaking competition from their headmaster, used a mobile phone to record their speech and uploaded it to youtube for submission. Today, these girls from Kaliganj are competing in Indonesia representing our country.
Are there any particular nations or programs that can be drawn to as an inspiration or an initiative towards climate change?
Bhutan is often cited as the perfect example – the only carbon negative country of the world, meaning it absorbs more carbon dioxide each year than it emits from its factories, vehicles etc. The country with over 70% forest coverage is now aiming for zero net greenhouse gas emissions by 2030. I hope our country will draw inspiration from this neighboring nation to safeguard our existing forests such as Sundarbans and also increase our forest coverage as trees not only act as a carbon sink but also provide the first line of defense to many vulnerable coastal communities from the wrath of natural disasters, which are increasing in the wake of climate change. We cannot compromise nature in the quest for economic development, and to that end, youth must act now.
Interview
CORPORATE ARTIST
Liza Hasan
Marketing Director of HMBR Tools and Chemicals Ltd. Watercolor Artist
“There are limitations with a sponsor. With the fellow artists, your boundaries are limitless and you are stronger on a united front, supporting one another and even gaining recognition through being on the same platform.�
F
ollowing the footsteps of her grandmother, Liza Hasan took art classes at a young age, as her parents dreamt that she would one day become an architect. Howeverwith the realities of everyday life, she was not able to continue art classes with her teacher Saiful Islam. “Saiful sir would make astonishing Russian landscapes and I was a student until I was fifteen. Unfortunately, he has moved to another part of the city and due to time constraints, I was unable to attend his classes,” Liza remarks. A good friend had challenged Liza, showing her sketches and observing that she had the ability to create works that were just as worthy. On the moment of inspiration, Liza says,“My friend had ignited that idea of starting my artwork again. I began with sketches and I despised my work at first but the nostalgia and pleasure I had felt were the kind that only art had given me.” Liza started with sketches but it was a Youtube video that has inspired her to start watercolor. As an MBA student, she would count the minutes of her class to end so she could go back home and start working on her art. She explains how Agnes Cecile has inspired her: “Upon watching a video of her work I was completely speechless and I watched it 143 times. I started taking pictures and finding some online in order to copy her style. After extensive practice, I came to the realization that her work was much more translucent and I was very detailed. This allowed me to understand that every artist has to find their own vision through experimenting and learning exactly which medium is right for them.” Drawing from her Agnes, Liza
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continued her work with watercolors; she equates her love for the medium with the fluidity it possesses, “With acrylics and oils, you command the paint and where it goes. On the other hand, watercolor flows in a direction that you may not intend it to. You have an outline of the work that you would like to do and you detail it as you go along. “As a perfectionist, she does allow the paints to dictate the final work and gives it direction during the final stages. She believes that finding your technique is key, “Though the painting may be different from my intended work, and I use the dry color which is the incorporation of the paints with less water. I am a perfectionist in terms of this stage of the process. The watercolor acts like an acrylic at this point and I have more command of the final details that must be incorporated.” Liza finds inspiration in unique expression, “It may sound cliché, but I start with eyes. They are the most expressive and emotive. Once I find that unique expression, the rest of the painting is based on the subject, pose and the emotion that I would like to evoke.” She credits the mannerism of her heart with the ideas of tranquility, “I implement blues and greens because it creates a serene and calming effect in my paintings. After a hectic day, I believe that anyone who is looking at my painting should be in a serene area with calm and peace. It
An artist must understand that the creative license is a time-consuming job and in this very case it is imperative that you have an agent that handles the logistics of the gallery. I am very fortunate because Karina lets me focus on my art while she handles all the other details of the gallery, a feat that I would have never been able to do on my own.”
My work as an artist transports me to another world and it provides me with a sense of euphoria like nothing else can. It has come to the point where I need my art in order to relax and alleviate the stresses of the day.”
inspired me to create the garden outside my studio window.” Though her paintings emit a soothing sense ofcalm, Liza has a flourishing career as the Marketing Director of HMBR Chemicals and Tools Ltd. She states that her success in both the corporate and artistic aspects of her life come from routine, “My day starts with dropping my daughter off to school and my day job. After picking her up, I will usually have to tend to her as well as my work requirements. Upon getting home, I work on a painting in between the tasks that I must complete for the day.” She elaborates that she is given this liberty through the use of watercolor, “With my medium, you can put on a layer and it takes 15 to 20 minutes to dry. Within that time I complete the other work that I have to attend toand come back to add another layer. This process allows me to find the balance I need betweenthe artist, the corporate, and the mother.” One would think that Liza has enough on her plate with so much, but she believes that her art is her escape, “My work as an artist transports me to another world and it provides me with a sense of euphoria like Photo Credit: Raiyan Momen www.ibtbd.net
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“Upon putting my work on HitRECord, I woke up a month later to find myself tagged in a video in which Joseph Gordon-Levitt featured my work. He went on to say, “A warm welcome to Liza Brushes” which made me astoundingly enthusiastic. Since then, I have been featured on HitRECord on a monthly basis.”
nothing else can. It has come to the point where I need my art in order to relax and alleviate the stresses of the day.” Coming into the routine of painting on a daily basis, Liza has received commercial success on many platforms. She details her journey that started with a few commissions, “I was recognized as I had put my work on various platforms and it led me to meet the Global Shapers during The InvisiBellas exhibit, a group of underground artists. At first I was in awe and intimidated by the works that these artists were creating. It was very unique and they were sticking to their own vision of what they wanted their art to be, as opposed to following the traditional methods.” Liza had become emotionally connected to these artists and this motivated them to create their own exhibit. Along with Global Shapers, she organized the Milkshake Collective. “We were a bunch of artists that had funded the gallery space by ourselves because we wanted to stay true to our individual visions. There are limitations with a sponsor. With the fellow artists, your boundaries are limitless and you are stronger on a united front, supporting one another and even gaining recognition through being on the same platform. The
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Milkshake Collective was a phenomenal success for each and every one of the artists and they arecommissioned on multiple opportunities, often to the point where they need time to breathe,” chuckles Liza. Art is not simply about creativity and vision, an artist must promote themselves postulates Liza, “I started promoting myself through Facebook and I am currently working on creating my own website. Artists need to understand they must promote themselves on multiple platforms and there are so many available tothem. Many artists hesitate because they are insecure about their work.” She concludes that this is detrimental to the career of an artist, “You cannot stress about your work and dictate the quality without showing it to the audience. Not only will you receive feedback regarding your artwork, you will also gain perspective as to which direction you can take the work as you progress.” Furthermore, Liza marks her progress through her first work and her latest work in order to have a meticulous account of how she has progressed. “Starting with social media platforms such as Facebook and Tumblr, an artist can further their foundation by marketing themselves through print houses because you also have to make a living. Not only will they be commissioned, this will provide them with exposure,” conveys Liza. Succeeding her exposure, Liza gained international acclaim through the artist platforms of Talent House and HitRECord. As she reminisces upon these moments Liza expresses the motivations that she had received in these very moments, “Upon putting my work on HitRECord, I woke up a month later to find myself tagged in a video in which actor Joseph Gordon-Levitt featured
my work. He went on to say, “A warm welcome to Liza’s Brushes” which made me astoundingly enthusiastic. Since then, I have been featured on HitRECord on a monthly basis. I was so excited that I called my brother and sister-in-law in London to share the moment. This also led to Michael Alberthauser featuring my work with Talent House and the Huffington Post in 2015. Though I was not at the gallery, the fact that my works were gaining such recognition allowed me to realize that my efforts were fruitful.” Liza is exuberant about her first official solo exhibit, The Water Impala, taking place in March. She credits the success of this venture to her agent, Karina Zannat, “An artist must understand that the creative license is a time-consuming job and in this very case it is imperative that you have an agent that handles the logistics of promotional work. I am very fortunate because Karina lets me focus on my art while she handles all the other details of the exhibition, a feat that I would have never been able to do on my own.” As we concluded the interview in her studio, Liza’s daughter, Parisa, wakes up from her nap to enter her mother’s studio. With countless subjects to choose from, Liza’s greatest inspiration sits on her lap to listen to our conversation. Liza glances at her daughter and tells me about how being a mother has grounded her, “I knew I was completely responsible for another person and my daughter is my true love. I wanted her to know that her mother not only had a thriving career but pursued her ultimate passion as an artist.”
International Politics
Behind the Ban
By Faiza Chowdhury
It isn’t just the tourism industry that is under threat from the travel ban. There are over 100,000 international Muslim students in the United States, especially from the Middle East and Asia, who bring in billions of dollars in tuition fees every year.”
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“Give me your tired, your poor, your huddled masses yearning to breathe free,” reads the Statue of Liberty, a beacon of hope for immigrants arriving in the United States of America. For over a century, Lady Liberty has been a proud symbol of the American message of acceptance and tolerance. However, the recent executive order signed by President Trump to restrict the travel of Muslims from certain countries called into question the reliability of this message. Trump's January 27 order barred travelers from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen from entering for 90 days and all refugees for 120 days, except those from Syria, whom he would ban indefinitely. He said his directive was "done for the security of our nation,
ANTI-IMMIGRATION NUMBERS
the security of our citizens." The travel ban has been criticized for being unconstitutional, but unfortunately for America, the problem doesn’t end there. A travel ban on Muslims will cause a domino effect to be set in motion, leaving the American economy in shambles. When the travel ban is fully implemented, there will be immediate repercussions on some sectors of the economy. The sector most obviously affected by the travel ban is America’s thriving tourism industry. Muslim tourists, especially from the Middle East, are willing to and have a significant amount to spend. Studies conducted jointly by Dinar Standard and Crescent Ratings found that Muslim tourists spend an average of
$2,000 more than European travelers when on vacation and that by 2020, Muslim tourism across the globe will amount to approximately $192 billion. According to the U.S National Travel and Tourism Office, in 2013 alone, Muslim tourists contributed almost $18 billion towards the tourism industry. It seems illogical, then, to ban Muslims from visiting America, when Muslim tourism is so profitable. It isn’t just the tourism industry that is under threat from the travel ban. There are over 100,000 international Muslim students in the United States, especially from the Middle East and Asia, who bring in billions of dollars in tuition fees every year. Without their contribution, it would be impossible to fund
higher education for America’s poorer demographic. The healthcare sector would incur a loss as well: many foreign Muslims seek medical treatment in America and spend large sums of money when they visit. The impacts on the economy due to the behavior of consumers are of equal importance, although admittedly less obvious. The implementation of an unjust travel ban on Muslims into America will likely cause a global boycotting of products manufactured in the United States. American-based firms located in countries such as Qatar and UAE will lose sales, and revenue would decrease. On a much larger scale, this translates to large populations decreasing their purchase of goods manufactured in America, and governments of Muslim-majority countries imposing stricter quotas on imports from the U.S. This would lead to a subsequent deficit in the nation’s balance of trade, seeing as American exports to the UAE and Saudi Arabia alone total over $57 billion. Major Muslim investors such as the countries in the Gulf Cooperation Council could be reluctant to invest in America and decide to spend their assets elsewhere. Funds which are crucial to the development of the country’s defense sector would be lost. The aftermath of the travel ban would be retaliation from these Muslim-majority
countries, who could decide to deny Americans the right to visit these nations without a visa. A great advantage of having an American passport – the ability to travel across most of the globe without a visa – would be lost. The executive order also poses a threat to scientific development in the country. The scientific community in America is enriched by numerous Muslim researchers, who work tirelessly to make a breakthrough in their respective fields. Not only is the travel ban a major inconvenience to their personal lives, but it makes collaboration with scientists from all over the world much more difficult. Consequentially, many scientists unaffected by the ban have shown their solidarity by avoiding U.S. conferences entirely. Soon, America could inadvertently become a less attractive place for science, and possibly cease to be called a global frontrunner in the field of scientific research. Implementing the ban itself would be virtually impossible, and would cost a lot more of taxpayer’s money. An effective ban on travelers based on religion would require thorough screening of each individual entering America, and increased recruitment and training of border patrol agents. The enormous costs would, therefore, have disastrous impacts on the American economy, and would surely outweigh any benefits. In the unfortunate event that the executive order takes
The Numbers Behinds the Ban $30.5 billion
decrease in US GDP
182,000
jobs lost in the domestic economy in one year
1%
total percentage of Muslim US residents
3.8%
Muslim inbound international visitor
8.37 million
fewer visitors to the US
$13.3 billion
loss in US exports by Muslim consumers
$98 million
disposable income of Muslim Americans
$190 million
household GDP contributions by Muslim Americans
40%
American Muslims with Bachelors of higher degrees
effect, the United States of America should be preparing for a nationwide recession. However, the new US President forgot to take into account that the American system has three prominent branches and for an executive order to work, he needs approval from all three. Therefore, thanks to one Judge James Robart of the Western District of Washington, a temporary restraining order was issued which has forced the federal government to stop enforcing the ban. Later a federal appeals court refused to reinstate Trump's ban on travelers dealing another blow to his administration. In a unanimous decision, the panel of three judges from the San Francisco-based 9th US Circuit Court of Appeals declined to block the ruling that suspended the ban and allowed previously barred travelers to enter the US again. Due to these recent turn of events, the Trump administration and their supposed Muslim ban has been suspended for now. So until he tries to enforce this ridiculous issue again, Americans who are wary of the fallout from such an order can breathe a sigh of relief.
Source: www.thirdway.org Sources 1. The cost of banning all Muslims – Sabri Ben-Achour, “Marketplace” http://www.marketplace.org/2016/06/14/world/cost-banning-all-muslims 2. Barring Muslims Would Spell a U.S. Economic Disaster – Khalaf Ahmad Al Habtoor, “Middle East Policy Council” http://www.mepc.org/articles-commentary/commentary/barring-muslims-would-spell-us-economic-disaster?print 3. The Economic Impact of Banning Muslims from the U.S. – Rachel Hyde, “Investopedia” http://www.investopedia.com/articles/investing/011316/economic-impact-banning-muslims-us.asp 4. Trump's immigration ban is already having a chilling effect on science, “Vox” http://www.vox.com/2017/1/29/14429500/trumps-immigration-ban-science-research 5. Banning Muslims From the United States Is the World’s Dumbest Idea –Christian Caryl, “Foreign Policy” http://foreignpolicy.com/2016/03/08/banning-muslims-from-the-united-states-is-the-worlds-dumbest-idea/
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Feature
Inspiring the Boldness for Change
IPDC F I N A N C E LT D .
By Sujoy Roy nternational Women's Day celebrates the social, economic, cultural and political achievements of women. The slogan for this year’s International Women's Day is “Be Bold for Change” to help furnace a better functioning world and a more inclusive, gender equal world. Progress in terms of gender parity has always been a striving point in the context of developing countries. There has been considerable improvement in the way working women are valued in Bangladesh since the birth of this nation four decades ago. Proper education, awareness, better workplace conditions and fair governance policies have up scaled women empowerment to its pinnacle. Their contribution to the economy adds up a substantial value each year which is incremental towards Bangladesh’s development. Keeping this in mind, IPDC Finance Limited, the first financial institution of Bangladesh, has developed its culture to become one of the most women friendly institutes. IPDC has always maintained a safe and sound environment by empowering women to take challenging targets to accelerate their careers. Not only that, it also provides six-months full paid leave to expecting mothers so they can nurture the most precious time of their lives without the fear of losing their jobs. This enables them to maintain a proper work-life balance and have the peace of mind. Today, in honor of all the working class women we feature the driving force and three pillars of IPDC and how their everyday divination takes IPDC’s success to newer heights.
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Gulnaz Alam
Head of Human Resources IPDC Finance Limited
Gulnaz Alam has seen through the vision of a passionate and contemporary dream of the biggest revamp of any bank or non-banking financial institution (NBFI) in the history of the country. Holding a workspace that allows her to introduce innovations for the betterment of her female colleagues, she introduced the first ever women’s committee that dealt with the happenings and concern of women before any mishaps could occur. The committee ran numerous workshops along with knowledgeable lawyers to raise awareness for both genders regarding the extent and repercussions of sexual harassment in a workplace. Gulnaz has created a presence in the leading and upcoming universities by delivering speeches and inspirational sessions for aspiring students.
Mahzabin Ferdous
Head of Brand and Corporate Communication IPDC Finance Limited With her very first step in the IPDC Finance Limited, she pulled out the most magnificent and biggest revamp in the history of any NBFI in Bangladesh. The rebranding marked a milestone with its top-notch standards creating an amazement in the industry raved by the many influential of the country. She was also behind the journey of Samsung Mobile Bangladesh’s marketing from scratch to a leading brand of Bangladesh with her passion and perseverance which set a paradigm for the rest of the industry. “Be the change you want to see in the world” - she firmly tries to follow this remarkable saying. She craves to use her robust experience of working in marketing to campaign for and contribute to the social benefit of the less privileged. She brought many accolades and awards for her one of a kind projects and is famously known as a next generation digital marketing innovator. With the birth of her twins, she did not find herself any less efficient in her work space. Throughout her journey, she was well always been aware of any kind of obstacles a woman in Bangladesh faces, and opened herself to the avenues that have led her to fight harder. She sets an example as the one of the most dynamic and charismatic woman leaders of the corporate sector of Bangladesh.
Nasreen Sattar Independent Director IPDC Finance Limited
Nasreen Sattar, an aspiring name for women in the banking sector, is a senior banking professional with 23 years’ experience in top rated global banks. She started her career with ANZ Grindlays Bank in Bangladesh in the mid-1980s with focus in the retail and corporate businesses of the bank. Nasreen spent time with Standard Chartered HQ in London to work with the Global Development Organization Team. After acquisition of the American Express Bank by Standard Chartered, Nasreen was appointed as Regional Head of the Development Organization Team covering India, Bangladesh, Nepal, Sri Lanka, and Afghanistan. Her experience in challenging circumstances has helped her to understand how the human mind of individuals in a corporate world works, and the need for development of their potential untapped skills. She is currently a consultant involved in Training & Developing professional women in enhancing their leadership skills, aspirations, and helping them achieve their goals while realizing their full potential.
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Advertorial
UDOY
Catering to Convenience U
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doy, Bangladesh’s first ever personal assistant app and is both human and AI powered. It works as a chat based service to get anything done across various categories like travel, shopping, booking, home services and more. Udoy’s aim is to change how the people of Bangladesh get their daily needs. Any product or service available in Bangladesh is now just a chat message away. UDOY is an app powered by an Artificial Intelligence (AI) that responds to queries using Natural Language processing and is supervised by an army of customer service experts who ensure that the best suited product/service is delivered to the customer.
Request can vary from wanting a plumber for repairs, paying your bills, booking a hotel, ordering some food or shopping without the hassle of going out. Udoy allows its customers to sit back, relax and get it all done from the comfort of their homes. All you need to do is simply send a message on what you want and UDOY will take care of the rest. UDOY is available on both Android and iOS platforms for all smartphone users of Bangladesh. During its launch, Arif Akram, CEO of Udoy said “We are combining Artificial Intelligence with the best of human assistants to provide all convenient services in one place. It is for busy people who don’t have time to browse so
many options online.” CTO of Udoy Shafkat Alam said “Udoy is a revolutionary app powered by an Artificial Intelligence (AI) based platform that responds to queries using natural language processing and is supervised by a team of customer service experts who are to ensure that the best suited product/service is delivered to the customer.’’ To find out more, visit https://udoy.co/
Photo Story KDS GROUP
Preserving a Legacy
ne of the most renowned businesses and industrial conglomerates in Bangladesh, KDS Group was founded by Al-Haj Khalilur Rahman. At present, Salim Rahman has added a fresh new impetus to its management. The group was first established in the port city of Chittagong. They have now extended operations throughout the world. Having established offices and agencies in Singapore, Hong Kong and the UK, with plans of expanding into the USA, the group thereby is paving the path into becoming a Bangladeshi based multinational. The Company was founded in 1983, through the establishment of one of the first garments industries in Bangladesh. Over the last 28 years, through innovation, dynamism, untiring effort and dedication, the business in terms of assets and revenues have grown exponentially by sometimes over 500% a year.
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by Mohammad Samiul Wares
KDS values human capital and is therefore committed to attract, groom and nurture talent through competitive compensations and benefit packages. They make the right investments in training their potential employees under local as well as foreign trainers.
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The Group adheres to international compliance requirements closely, and has taken many social initiatives for the betterment of the lives of its workforce, going even beyond foreign requirements.
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KDS have expanded from just apparel exports to a whole array of other industries. Today the total group can proudly declare over $500 million of annual revenues in total with over 25,000 employees, staff and workers. .
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Feature
POLITICS IN FILM
There’s Been an Awakening
Rouge One and the parallel it draws to the modern political climate By Sheahan Nasir Bhuiyan
(Warning: Spoilers ahead)
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When Disney CEO Bob Iger put out a statement INSISTING that Rouge One was not a political film, you had to wonder why the CEO of one of the biggest media companies in the world has to clarify this point. To the Hollywood Reporter Mr. Iger said, “Frankly, this is a film that the world should enjoy. It is not a film that is, in any way, a political film. There are no political statements in it, at all.” Fair enough. But when you see the film, you cannot help but notice how the political climate in Rogue One echoes that of the world we currently live in. This is nothing new, though. Films have been used for decades as a platform to promote a
writer or a director’s political stance. In fact, the entire Star Wars franchise started on George Lucas’ political views. Back in the seventies, George Lucas was working on a documentary-style antiwar film on Vietnam that was to be called "Apocalypse Now", a title devised by his friend John Milius. He passed on it as he felt it would be too political and the project was handed over to another of his friends, Francis Ford Coppola. Instead, George went on to create Star Wars, a story of how an oppressive overarching tyrannical ruler with technology is going after a bunch of freedom fighters; this was actually from one of George’s
If the US as is seen as the vastly superior empire, the world police, then the rebels can be the terrorists, or more recently, protestors from all across the world who oppose the Trump Administration.”
And this is the context under which Rogue One was released. Let us consider the parallels:
notes. A conclusion can be drawn that the US is the Empire with the far superior technology and the Vietnamese were the freedom fighters. But the parallels were not as clear as it is now. Whereas, in Star Wars there was only one Empire, in the real world, Russia was a major superpower and was constantly challenging the US. Fast forward forty years and the situation is vastly different. The US has consolidated itself as the world superpower. Their military capability is so strong that they’ve made it their responsibility to ensure their world order. To disagree with them means you’re against them. Remember President Bush’s “You’re either with us or against us” quote? Those who oppose the US often use unorthodox means, such as hacking or terrorism. No group can truly match the US in military might.
The heroes are gritty, scrappy and very diverse. Not only that, they use brute force to get the job done, unlike in previous Star Wars films where the use of the force was prevalent. One of the first scenes showed Cassian ruthlessly silencing an informant out of fear of the information leaking. The diversity of the rebels was noticeable as it featured only one white actor, that too a female, Jyn Erso. It is almost impossible not to draw parallels with the modern world. If the US as is seen as the vastly superior empire, the world police, then the rebels can be the terrorists, or more recently, protestors from all across the world who oppose the Trump Administration. The mission was a suicide mission. The rebels knew that when they were going into the mission that getting out alive would be nearly impossible. Two of them were willing to give their lives up for the cause. The final scene of the movie depicts a rebel ship plowing into a Star Destroyer, which collapses onto another Star Destroyer. It's not quite the twin towers but it connotes towards that very event, allowing the
viewer to make the connection. The Empire boasts technological superiority. The film showcased the Empire’s vast arsenal from TIE fighters to AT-STs, AT-ATs, and Star Destroyers, and then, of course, the Death Star. Comparatively, the rebels’ weapons were pitiful against the might of the Empire. By the end of the film, it was evident that most of the Rebels can hope for is a lengthy full frontal battle against the Empire as a distraction. The United States spent $610 billion on defense in 2014. The next eight countries spent a combined total of $605 billion. That should give you an idea of America’s military strength. Against such vast resources, the only way US opponents can strike is through covert operations, or through terror attacks. The Empire is the World Police. The Empire wants to enforce its views onto every other being in the galaxy. They believe they know what's best and insist everyone follow their world order. A Stormtrooper in the Empire probably believes that whatever he or she is doing is right and views the opposition as terrorists, probably taking drastic and unpleasant measures to ensure that view. Similarly, it can be argued that the US, with its intention of spreading democracy to other parts of the world, often tries to enforce it on others. American soldiers probably think whatever they’re doing is right even if it is unpleasant. With such parallels, it's not surprising at all that Bob Iger made that statement. The film was, for all purposes, intended to entertain and not to bring up political discourse. From a business point of view, Bob Iger cannot afford to give any indication that the film has political agendas. Imagine how you’d feel watching the rebels fighting in the sand against the Imperial Army, and rooting for them, or how uncomfortable it was drawing parallels from the two Star Destroyers scene and the Twin Towers. Disney would lose a lot of customers if people even thought that was the case. But you can’t help but think, that in the real world, all the similar actions were condoned, but in the films, the terrorists were the actual heroes…
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Review
THE NEW ZVIII UNVEILED
SYMPHONY angladesh’s leading smartphone brand Symphony Mobile has presented its new flagship device “Symphony ZVIII”. The ZVIII unveiled recently at a smartphone expo. Going into the details, the smartphone features an 8 megapixel wide angle front camera and 13 megapixel rear camera with dual LED flash, which brings life to pictures even in low light. The all new “Blue-glass” feature filters out excess light for crystal clear images. Other camera features include face beauty mode, panorama mode, night mode, professional mode and flash lamp mode. The Symphony ZVIII features a premium design, featuring a metal body and 2.5D curved glass, which creates a round-like surface for stronger grip. The front
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The Symphony ZVIII features a premium design, featuring a metal body and 2.5D curved glass, which creates a round-like surface for stronger grip. panel contains a selfie camera with flash, earphones and a fingerprint sensor. The power and volume buttons can be found on the right side, while the SIM and memory card slot is on the left side. It features a 5 inch full HD display for sharp and colorful images, and provides the optimum dimensions for single hand operation. Touch response is super-fast due its five finger multi-touch feature. Its superior viewing angle makes viewing video content much more enjoyable. Symphony ZVIII is powered by an Android 6.0.1 Marshmallow operating system. It has no app drawer, so all apps can be easily accessed directly from
the Home screen. Smart action and smart gesture modes allow the user to use double-tap to open or close the screen and open dedicated apps by using an alphabet draw. The home button acts as a highly accurate and fast fingerprint sensor, ensuring maximum security for the user. Personal files, images, videos and messaging apps can be locked in using the user’s fingerprint, and the phone can be unlocked at an amazing speed of 0.48 seconds. Symphony ZVIII brings in the biggest surprise for customers in its hardware segment, launching a smartphone powered by Qualcom Snapdragon 430,
1.4 Ghz Octacore 64 bit processor for the very first time in the market. Powerful DDR3 3 GB RAM allows blazingly fast data processing, leading to smoother gaming and a heavy multitasking experience. The phone also features a 16 GB ROM extendable to 128 GB, where users can easily store tons of music, images and games. The Symphony ZVIII houses a powerful 3000 mAh li-polymer battery for longer, uninterrupted performance. The phone also features power sharing option for users to share charge with any other phone, along with Eco Mode (Super Power Saving Mode) and Power Optimization. This handset boasts a powerful Gyro Sensor for users to experience virtual reality. Other exciting sensors include G-Sensor, Accelerometer, Proximity Sensor, Light Sensor, Compass and Hall Sensor. Above all, the phone has the OTA update feature for software updates and OTG feature so that users may operate other portable devices using this handset. Symphony ZVIII is available in Space Grey and Golden colors in all Symphony Mobile outlets with an attractive power bank as a free gift. Symphony ZVIII, packed with the latest features, hardware and a high quality camera, is priced at Tk 13,990 only.
Tech
USB-C
How USB-C is changing peripheral connectivity as we know it By Abhijit Asad
Connecting the Future ately, the world of tech has been abuzz about a new form of the USB (Universal Serial Bus) protocol called USB-C, which promises to bring together the fragmented universe of computing devices by providing a powerful common standard, reducing the current smorgasbord of different connectivity protocols in the process. The USB-C invasion is already well underway, with many modern devices already having adopted the standard as a charging and data transfer mechanism, and reaping its myriad of benefits. Some devices have even taken it to rather whimsical extents, with Apple’s new MacBook keeping only a single USB-C port as its charging and connectivity option, forcing the use of adapter dongles for anyone looking to hook up more than one USB device at a time, use a standard USB (known formally as USB-A) device, or even use a USB device while charging the laptop. Despite the controversy caused by this design decision, it did get the masses talking about USB-C, and spearheaded its adoption by other companies.
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But why is USB-C so revolutionary? The first thing one would notice after picking up a USB-C connector is its beautiful symmetry. Yes, the USB-C’s single greatest feature is its reversible nature, finally putting an end to many years of frustration suffered by people fumbling with USB cables only to figure out that they were inserted the right way up in the first place. The smooth curves of the connector slot neatly and firmly into a USB-C port without requiring any coaxing, and the connection holds up against all but the firmest pulls and the sharpest tugs. The USB-C connector is also rather small in size, closer to micro-USB connectors than regular USB-A ones. This comes as a huge boon for manufacturers, as it lets them make slimmer devices without sacrificing speed or power. Unlike micro-USB, USB-C is easily capable of reaching very high speeds by relying on the massive speed advantages offered by USB 3.1 technology, which was previously reserved only for USB-A. No longer will devices and phones be held back by the crawling pace of micro-USB. But what if you don’t really care for slimmer devices? You still benefit from USB-C, as it would render a great number of connectivity protocols irrelevant, and give you far greater flexibility when hooking up devices. Esoteric 'one-trick pony’ ports like HDMI are due for extinction over the upcoming years, as USB-C is capable of doing all that HDMI does, and a great deal more -- it can even power the monitor, negating the need for an additional power connection. The higher throughput of USB-C (when using USB 3.1, its speeds can go as high as a blistering 10 Gb/s, which is lowered to a still very respectable 5 Gb/s for USB 3.0) even allows daisy-chaining of peripherals using hubs without needing to cut back on speed, similar to Intel’s Thunderbolt connectivity protocol for special high-end devices. In fact, it should be noted that the latest iteration of Thunderbolt, Thunderbolt 3, uses USB-C connectors in order to increase compatibility and unify the protocols. Another benefit offered by USB-C is its ability to carry much higher amounts of electricity. Compared to the paltry 2.5 watts of electricity that a run-of-the-mill USB-A connector can
One of the threats facing USB-C is the widespread permeation and availability of the standard USB-A and micro-USB protocols, which have existed for so long that they have become nearly ubiquitous. carry, its USB-C counterpart can carry up to a hundred watts of power. This not only allows USB-C to be used as a charging mechanism for laptops and a powering mechanism for peripherals, but it also allows for supported mobile devices like phones and tablets to be charged substantially faster. Nearly all modern handsets can take advantage of some form of fast charging, that lets them rapidly top up their batteries without having to stay tethered to a power outlet for hours. What’s even better is, the USB-C protocol can simultaneously handle the double duty of carrying power and transferring data in full-duplex mode. One of the threats facing USB-C is the widespread permeation and availability of the standard USB-A and micro-USB protocols, which have existed for so long that they have become nearly ubiquitous. Over 20 billion devices which utilize legacy USB specs have already been manufactured, and given people’s reluctance to adopting new standards, it will be a while before USB-C becomes mainstream. However, given the huge number of advantages offered by USB-C, along with the support and adoption it has already received from many big-name manufacturers, we can expect it to give solid competition to and eventually phase out the currently prevalent forms of USB connections. However, this is no reason to fear that devices which rely on USB-A or micro-USB will
become obsolete once USB-C takes over. Electronically, USB-C is fully backward-compatible, and it can operate with older/legacy devices with the use of USB adapter dongles, which are cheap and widely available. Another major challenge facing USB-C is the confusion regarding their quality, bandwidth and power specifications. First of all, not all USB cables are created equal, and numerous manufacturers of dubious repute are taking full advantage of the haze present in the market to push cables of inferior quality to buyers who don’t know any better. Not only does this give rise to oddities in terms of inter-device communications, but it can also create dire complications that can potentially damage devices by pulling excessive amounts of electricity. Although USB-C is capable of delivering a hundred watts, if it is not regulated using proper circuitry, it can easily destroy sensitive hardware. In the mid-’90s, USB was the first bold attempt taken to establish a common standard of connectivity. In that goal, it succeeded quite soundly, and it is difficult to imagine a modern life as we know it without it. However, despite its outstanding legacy, it is time for the world to take the next big step forward, leading to new dimensions of unification and simplification which USB-C promises to bring, along the very road paved by the first USB protocol. www.ibtbd.net
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Beyond the Business
Fearless Females M
In the spirit of the month that celebrates women and their priceless contribution to the world. ICE Business Times screens the celluloid and the telly for the female characters you were unapologetically themselves in their endeavors for success.
MIRANDA PRIESTLY (The Devil Wears Prada) The editor-in-chief of Runway magazine, Meryl Streep immortalized this cutthroat and demanding editor expect nothing short of the quality that has made her a force to be reckoned with. Miranda’s ultimate passion lies in her work and she makes no qualms so prove that she is nothing short of the best and that there are no excuses when striving for perfection. Memorable Quote: “By all means, move at glacial pace. You know how that thrills me.”
ERIN BROCKOVICH (Erin Brockovich) Based on the extraordinary woman herself, Erin Brochavich illustrates the story of how anyone who doesn’t fit the mold is quite often underestimated. Erin is hired by her lawyer as an assistant and while conducting her research, she discovers how Pacific Gas and Electric Company has contaminated the waters of a Hinkley, California. With determination and brawn, she fights against a corporation that is much bigger than her for the people the company has afflicted.
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Memorable Quote: “I’m sorry. I don’t need pity. I need a paycheck.”
Elle Wood (Legally Blonde)
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Proving that blondes just don’t have more fun, they also have a go-getter attitude. Elle is a larger than life character that breaks all the stereotypes set against her while maintaining her enthusiastic personality, and fashion conscious attitude. From the side of her sprawling pull to front and center in the courtroom, she walks the halls of Harvard Law in her signature pumps. Memorable Quote: “You must always have faith in people. And most importantly, you must always have faith in yourself.”
OLIVIA POPE (Scandal)
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With her crisis management agency, Olivia Pope & Associates, Pope is the mind behind keeping the leading nation of the free world afloat, leading her “gladiators in suits”. From handling presidential matters to keeping powerful clients in check, Pope makes no qualms about what needs to be done and how to hand out a dose of reality. Memorable Quote: “You can dance with me or you can get off my dance floor . . . I am fine with dancing alone.”
TEMPERANCE BRENNAN (Bones) With an unmatched IQ, Brennan is the ultimate brains behind the Special Agent task force. Working with her husband, Seeley Booth, she is unabashed by her brilliance, financial stability, and success. This forensic anthropologist has the backbone to solve crimes, write novels and uncover the evidence from the 206 pieces of the human skeleton.
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Memorable Quotes: “People assume that when you’re alone, you must be lonely. Like most assumptions, it’s erroneous.”
CRISTINA YANG (Grey’s Anatomy)
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Becoming the leading cardiothoracic surgeon of Seattle Grace, Yang never shies away from the heart of any challenge. Focusing on solely her career, she is breaking the mold of women who simply seek domestic satisfaction with her true calling literally lying on the operation theater. Memorable Quote: “Oh screw beautiful. I’m brilliant. If you want to appease me, compliment my brain.”
ALICIA FLORRICK (The Good Wife) When the scandals of infidelity plague your very public marriage, you scour into a corner or choose to create your own identity. Florrick joins the law firm, Lockhart & Gardner, 15 years after leaving her professional life. Her awakening allows her to become an independent mind and discover how ruthless the world requires you to be.
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Memorable Quotes: “People aren’t mean. They are just polite liars.”
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Special Event
Bangladesh Textile Seminar 2017 FEATURE Shanghai ECV International Co. ltd organized the event in Bangladesh for the first time. They have organized textile seminars in China, Myanmar, and Vietnam previously. Beximco and WEAVE was their partners in the event. Adnan Nafis (Investment Consultant) coordinated their efforts in Bangladesh and moderated the seminar. The seminar was organized during the 16th and 17th February 2017. The presenters focused on the RMG sector, the achievements and the role of RMG sector in the national economy. Interestingly, caution and way forward was also discussed. Without proper future planning and strategy Bangladesh may not achieve the desired goal. Caution was voiced about the future of RMG sector
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and fate of Bangladesh economy. RMG is no longer achieving double digit growth and the international market and various issues are coming up. Though Bangladesh has the lowest wage of the leading RMG players, new entrants like Ethiopia and Myanmar has lower wages than Bangladesh. Mujibul Haque Chunnu, Honorable State Minister for Labor and Employment, inaugurated the seminar with a message from the Government's side. He stated, “The Government has ensured all necessary requirements to ensure the growth of RMG sector. With swift action, all necessary amendments were made after the tragic Rana Plaza incident. After ACCORD and ALLIANCE inspections, it was found that 40 factories were in severe violation of safety requirements and they were closed. 40+ factories out of 5,000 factories is a stable and
convincing picture.” The Honorable State Minister emphasized the Governments activities and the role of RMG for the economy as Bangladesh is striving for the Upper-Middle-income country status by 2021 and reaching the target of $50 billion RMG exports by that time. The Key note was presented by M. Abdur Rauf, Additional Secretary, Ministry of Commerce Government of Bangladesh. The title was “Deep Interpretation on Government Supportive Policies of Bangladesh Textile Industry”. He presented all the government's initiatives and activities regarding policy support to law enforcement. Dr K. G. Moazzem of Centre for Policy Dialogue (CPD) made a presentation on the topic “Current Situation and Threats to Bangladesh’s
Economic Outlook: Impact and Implications on the Textile Industry”. He focused on the RMG sector’s growth, achievements and importantly emphasized on the threats to economy. Dr. Nazneen Ahmed, Senior Research Fellow of Bangladesh Institute of Development Studies (BIDS), presented on the topic “Prospects and Challenges of the RMG Industry in Bangladesh”. Faruque Hassan, Senior Vice President, BGMEA presented on “Effective Sourcing Strategy and Trends Adapted for the Bangladesh Textile Industry”. He pointed out the achievements of the RMG sector, contribution to economy and diversification of export destination. He emphasized on the environmental sustainability. Sayed Naved Husain, Group Director & CEO, Beximco Group presented on “How to Enhance and Promote the Competitiveness and Production Efficiency of the Bangladesh Textile Companies”. JCPenney made a presentation on the overall situation of Bangladesh and made some suggestions while H&M focused on their compliance and environmental requirements and how the factories are strictly monitored. Shanghai ECV International Co. Ltd. is planning to arrange more seminars in Bangladesh in the upcoming days to promote Bangladesh as a manufacturing hub for the Chinese market.
Social Media
Growing Your Social Media Tree CORPORATE TIPS
By Nahid Farzana In today’s market, the power of social media has increased significantly. If you want to grow your business and brand, the use of social media is a must. There are so many new opportunities you can create and manage by using various social media outlets. An entrepreneur should start working on creating a stronger online presence. Here are a few tips that can help any entrepreneur looking to expand their social media presence for their business:
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BE CONSISTENT There should be consistency in your posts, messages, and how frequently you use social media. Make prior plans about what you are going to post and how often you are going to post it, and most importantly stick to those plans. You should not expect an engaged following if you keep changing from posting once a month to five times a day and then back.
USE ALL YOUR SOCIAL NETWORK TOOLS Personally, you might feel comfortable with certain social networks, but only focusing on that will result in losing potential followers. To be successful with social media, it is very important to post across all networks. Therefore, it is important that you maintain an account with all the prominent social media outlets such as Twitter, LinkedIn, Facebook, and Instagram.
FORMAT CONTENT TO OPTIMIZE FOR EACH PLATFORM
FIND A BALANCE BETWEEN POPULARITY AND BUSINESS
It won’t work if you post the same material on every platforms; rather you need to figure out what works best for the site and post accordingly. For example, you should post photos with minimal text on Instagram, long posts for LinkedIn, videos and memes for Facebook and short announcements for Twitter.
Social media works in way so that it is less about your business and more about getting attention. However, you need to learn to strike a balance between business and popularity. There should be a mix of the fun side for the popularity and the serious informative side for the reputation of your business.
FOCUS ON THE NETWORKS THAT WORK BEST FOR YOU
AMPLIFY YOUR BUSINESS AND MARKETING EFFORTS
Some networks might work better than the others for your specific business and target customers. If there is any such case, you need to focus more on that network and take advantage of the opportunity.
MAKING SURE THE CONTENT ALIGNS WITH YOUR MESSAGE
Outside your social media campaigns, you need to have other business and marketing plans. Your social media plan will only add to your efforts and make them more successful. Since social media is more affordable and widely used, it will help you with every aspect of your marketing plan.
Just getting lots of followers and likes won’t help your brand much if your post and its content don’t align with your message. You need to make sure that everything fit within your brand identity and promote what it is trying to say to the world.
STICKING TO WHAT’S IMPORTANT Contents like testimonials, charity posts, press features and important blog posts won’t usually get the desired amount of attention but they are still important as they help you validate your brand value in the market. Just because it’s not getting more likes and shares you should not stop posting them. It will help you create the foundation of your company.
This article is from SD Asia. To know more about this topic and SD Asia, please visit: www.sdasia.co
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Word of Mouth HAPPENING
Casper Foundation hosted a seminar titled “Identify The Color of Your Cape: Be the next superhero of our community� sponsored by City Bank on 7th of February, 2017 at IUB
Centre for Policy Dialogue (CPD) has appointed Dr Fahmida Khatun, Research Director, CPD as the new Executive Director (ED). The decision was made at the 48th meeting of the Board of Trustees (BoT) of CPD on Sunday, 19 February 2017, held at the CPD office. Professor Mustafizur Rahman, the current ED, will continue to work at CPD as a Distinguished Fellow
Four Points by Sheraton Dhaka Gulshan, part of Marriot Inc., today unveiled its New Tower, on 16 February 2017 including deluxe and premier rooms and suites also featuring with Oasis lounge, Wrapped coffee shop, The Beast, Sky Deck as well as banqueting facilities. General Manager, Trevor MacDonald; Marketing Manager, Syed Mehran Hussain and Director of Sales, Fawaad Mohammad were present
Lanka Bangla Finance Limited won the SAFA BPA Award 2017 in the Financial Service sector for the best annual report. The company bagged this award for the second consecutive year. Khaza Shahriar, Deputy Managing Director of the company received the award from Finance Minister Abul Mal Abdul Muhith
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Le Méridien Dhaka won the Lonely Planet Travel & Lifestyle Leadership Awards 2017 in the category of “Best Business Hotel” on 14 February 2017
Radisson Blu Chittagong Bay View, the only five star leading hotel in the port city, has introduced the PRESTIGE membership. “PRESTIGE” the exciting new dining loyalty program that offers enhanced features and benefits so that card members can eat, enjoy and earn more
Electro Mart Ltd. has launched their Sales & Display Center at Halishahar area of Port City Chittagong today. The Hon’ble Member of Parliament of Chittagong - M A Latif MP inaugurated the Sales & Display Center at a Grand Opening Ceremony. Mr. Mahbubul Alam, the President of Chittagong Chamber attended the occassion as the Special Guest
JCI Dhaka West Organizes Impact Training
Junior Chamber International (JCI) Dhaka West recently organized a training session to encourage young active citizens to contribute in the development of the country. The training module called, JCI Impact was run by past local president of JCI Dhaka West, Sarajit Baral.
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Capital Market BOURSE UPDATE
Fortnightly Report of DSE, 16th January To 31st January 2017 Top 10 securities by turnover value in Tk. Sl. Name of securities No. 1 2 3 4 5 6 7 8 9 10
Category
Bangladesh Export Import Company Ltd. Baraka Power Limited Islami Bank Bd Ltd LankaBangla Finance Ltd. IFAD Autos Limited National Bank Ltd. SAIF Powertec Limited RAK Ceramics (BD) Ltd. City Bank Ltd. Lafarge Surma Cement Ltd.
1 2 3 4 5 6 7 8 9 10
Islami Bank Bd Ltd The IBN SINA Pharmaceutical Industry Ltd. Phoenix Finance and Investments Ltd. Social Islami Bank Ltd. Padma Oil Co.Ltd. Export Import (Exim) Bank of Bangladesh Ltd. City Bank Ltd. Al-Arafah Islami Bank Ltd. ICB AMCL Second Mutual Fund National Polymer Industries Ltd
Top 10 loser securities (based on closing price) Sl. Name of securities No. 1 2 3 4 5 6 7 8 9 10
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Category
National Bank Ltd. Bangladesh Export Import Company Ltd. Keya Cosmetics Ltd. Export Import (Exim) Bank of Bangladesh Ltd. C & A Textiles Limited Premier Bank Ltd. Islami Bank Bd Ltd Generation Next Fashions Limited First Security Islami Bank Ltd. Baraka Power Limited
Top 10 gainer securities (based on closing price) Sl. Name of securities No.
CAPM BDBL Mutual Fund 01 National tubes Ltd. Emerald Oil Industries Limited Sonargaon Textiles Ltd. Imam Button Industries Ltd. Golden Son Limited Alltex Industries Ltd. The Peninsula Chittagong Ltd. Beach Hatchery Ltd. Shurwid Industries Limited
Total Turnover Tk. in mn
193,001,650 114,683,065 116,031,475 90,703,901 28,334,724 206,672,028 48,933,596 42,655,131 85,690,552 33,487,285
6,870.89 5,247.99 4,949.54 4,380.07 3,492.90 3,087.54 3,077.77 2,947.76 2,931.63 2,820.48
3.59 2.74 2.59 2.29 1.82 1.61 1.61 1.54 1.53 1.47
Total Turnover Tk. in mn
Total Turnover in shares
3,087.54 6,870.89 2,751.97 2,426.81 1,624.05 1,583.92 4,949.54 1,256.44 1,766.06 5,247.99
206,672,028 193,001,650 179,307,562 166,792,386 134,381,414 120,904,651 116,031,475 115,562,475 114,757,719 114,683,065
% of Total Turnover shares 3.40 3.18 2.95 2.75 2.21 1.99 1.91 1.90 1.89 1.89
A A A A A A A A A A
Top 10 securities by turnover in shares Sl. Name of securities No. 1 2 3 4 5 6 7 8 9 10
Total Turnover in shares
A A A A A A A A A A
Category
% of Total Turnover Tk.
last Fortnight Closing Price 32.70 204.60
change %
A A
Current Fortnight Closing Price 45.10 276.90
37.92 35.34
4,949.54 2,204.34
Daily Avg. Turnover Tk.in mn 412.46 183.70
A A A A
33.30 21.90 229.30 14.70
27.70 18.30 193.40 12.40
20.22 19.67 18.56 18.55
729.10 1,414.66 1,175.02 2,426.81
60.76 117.89 97.92 202.23
A A A A
33.50 19.30 8.60 91.50
28.50 16.80 7.50 80.10
17.54 14.88 14.67 14.23
2,931.63 1,412.30 68.11 1,042.52
244.30 117.69 5.68 86.88
Current Fortnight Closing Price 10.10 114.00 29.90 11.70 15.10 18.20 11.50 29.80 10.30 10.40
last Fortnight Closing Price 14.00 152.50 39.20 14.80 19.00 22.60 14.20 36.50 12.60 12.70
change %
Category
A A A Z Z B Z A Z Z
27.86 25.25 23.72 20.95 20.53 19.47 19.01 18.36 18.25 18.11
Turnover Tk. in mn
Turnover Tk. in mn 63.25 936.34 501.09 21.62 3.81 306.29 35.97 1,005.27 25.27 18.91
Daily Avg. Turnover Tk.in mn 5.27 78.03 41.76 1.80 0.32 25.52 3.00 83.77 2.11 1.58
Disclaimer: Dhaka Stock Exchange does not hold any responsibility for these date.
Fortnightly Report of DSE, 1st February To 15th February 2017 Top 10 securities by turnover value in Tk. Sl. Name of securities No. LankaBangla Finance Ltd. 1 Appollo Ispat Complex Limited 2 Bangladesh Export Import Company Ltd. 3 Ratanpur Steel Re-Rolling Mills Limited 4 ACI Formulations Ltd. 5 Islami Bank Bd Ltd 6 Baraka Power Limited 7 IDLC Finance Limited 8 SAIF Powertec Limited 9 Central Pharmaceuticals Limited 10
Category A A A A A A A A A A
Top 10 securities by turnover in shares Sl. Name of securities No. 1 2 3 4 5 6 7 8 9 10
Category
Appollo Ispat Complex Limited National Bank Ltd. Keya Cosmetics Ltd. LankaBangla Finance Ltd. Bangladesh Export Import Company Ltd. Al-Arafah Islami Bank Ltd. Generation Next Fashions Limited Pacific Denims Limited Central Pharmaceuticals Limited Export Import (Exim) Bank of Bangladesh Ltd.
last Fortnight Closing Price 66.10 45.10 9.30
change %
A A Z
Current Fortnight Closing Price 47.60 41.70 8.60
A A Z A A Z B
12.50 6.90 55.70 7.20 23.80 20.80 14.70
13.50 7.40 59.00 7.60 25.00 21.80 15.40
Category
Source: Dhaka Stock Exchange
% of Total Turnover Tk. 4.07 2.57 2.55 2.36 2.19 2.09 2.08 1.92 1.88 1.87 % of Total Turnover shares
106,800,876 85,951,408 84,299,676 78,237,010 75,840,225 69,609,085 68,584,391 63,922,768 60,583,590 50,448,660 change %
Top 10 loser securities (based on closing price) Sl. Name of securities No.
4 5 6 7 8 9 10
Total Turnover in shares
last Fortnight Closing Price 26.50 172.10 26.00 18.20 18.30 127.60 33.30 22.20 20.40 31.10
A A A B A A A A A A
SAIF Powertec Limited Islami Bank Bd Ltd Dulamia Cotton Spinning Mills Ltd (DCSML) Prime Finance First Mutual Fund EBL NRB Mutual Fund Savar Refractories Limited 1st Janata Bank Mutual Fund IFIC Bank Ltd. Shyampur Sugar Mills Limited International Leasing and Financial Services Ltd.
2,466.30 1,211.19 1,256.74 3,910.36 2,453.56 1,392.12 731.68 1,741.20 1,792.64 710.87
Total Turnover Tk. in mn 3,910.36 2,466.30 2,453.56 2,270.61 2,102.79 2,006.45 1,997.93 1,846.06 1,805.58 1,792.64
Current Fortnight Closing Price 33.90 219.90 31.90 21.90 21.60 149.90 38.90 25.80 23.70 35.90
Republic Insurance Company Ltd. ACI Formulations Ltd. Central Pharmaceuticals Limited Golden Son Limited Malek Spinning Mills Ltd. Atlas Bangladesh Ltd. H.R. Textile Ltd. Central Insurance Company Limited Appollo Ispat Complex Limited Anlima Yarn Dyeing Ltd.
1 2 3
Total Turnover Tk. in mn
A A A A A A A N A A
Top 10 gainer securities (based on closing price) Sl. Name of securities Category No. 1 2 3 4 5 6 7 8 9 10
Total Turnover in shares 78,237,010 106,800,876 75,840,225 30,152,484 10,355,532 47,183,030 44,207,830 26,719,913 31,973,325 60,583,590
3.87 3.12 3.06 2.84 2.75 2.52 2.49 2.32 2.20 1.83
Turnover Tk. in mn
Daily Avg. Turnover Tk.in mn
168.58 2,102.79 1,792.64 105.38 205.28 128.23 216.25 47.95 2,466.30 264.15
15.33 191.16 162.97 9.58 18.66 11.66 19.66 4.36 224.21 24.01
Turnover Tk. in mn
Daily Avg. Turnover Tk.in mn
(27.99) (7.54) (7.53)
1,805.58 2,006.45 0.84
164.14 182.40 0.08
(7.41) (6.76) (5.59) (5.26) (4.80) (4.59) (4.55)
63.85 53.76 0.11 73.79 97.23 1.00 92.91
5.80 4.89 0.01 6.71 8.84 0.09 8.45
27.92 27.77 22.69 20.33 18.03 17.48 16.82 16.22 16.18 15.43
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