Contents TIMES
36 6
From the Editor
Column 10 Tawfiqul Islam Khan 12 Shaikh Khalid Raihan
IBT Cover Story:
Unfolding Leadership Interviews 24 Md. Sabur Khan
Chairman, Daffodil International University (DIU) & Daffodil Group
28 Salahuddin Kasem Khan
Managing Director, A.K. Khan & Co Limited
Word of Mouth 8 State of Affairs 14 Happening 94 Critical Conversation 2016 102 Events
32 Dr. Md. Golam Samdani Fakir
Ask the Expert 22 G. Sumdany Don: Mastering Public Speaking
72 Rashnat Tarin Rahman Toma
Vice-Chancellor, Green University of Bangladesh
52 Mahtabur Rahman (Nasir)
Chairman & Managing Director, Al Haramain Group
58 Ayesha Jahan Bibha
Thought Leader & Neuroscience of Leadership Licensed Practitioner EnHansen Performance Pty Ltd. Director of Toma Properties
76 Md. Sheikh Shadi
Founder & Chairman, Assure Group
FROM THE EDITOR Sir Fazle Hasan Abed has transformed his vision of alleviating poverty into a reality; today BRAC has helped 126 million people and operates in 11 countries. Encompassing the true qualities of a leader, Sir Abed proves that leaders are not born; they are created through resilience and determination. His perspective to further expand is a testament that a leader’s endeavour is continuous process. A leader does not simply perch themselves on the throne of their accomplishments, they venture into innovation in order to recognize and mend any flaws while continually evolving the organization they guide. In this issue, ICE Business Times sheds light on the various aspects of leadership. Leaders are not confined to the world of entrepreneurs and politicians, they are found in diverse fields from sports to academia. During our tete-a-tete with Bangladesh’s ODI and T20 cricket captain, Mashrafe Bin Mortaza, we were astonished to know that he has not only overcome various hurdles and physical injuries but has also utilized these tribulations as a source of optimism and confidence; traits that he personifies and transcends within his entire team. While conversing with prominent businessmen, education administrators, young entrepreneurs and accomplished professionals, we gained insight into their perceptions of what qualities entails the ideal leader and how leadership is created and harboured. Be it economic expansion, jobs created and academic nourishment, these individuals have forged their imprints on the missions they have undertaken. Because Leadership is indiscriminate of gender and race, it is the cultivated characteristic, effort and authority to collaborate and transform the existing establishments.
WORD OF MOUTH
/ State of Affairs
Prime Minister Sheikh Hasina at the inauguration of the Central Jail at Keraniganj
Prime Minister Sheikh Hasina at the inauguration event of National Helpline for legal matters
Prime Minister Sheikh Hasina at the 9th World Autism Awareness Program
Prime Minister Sheikh Hasina with the newly elected members of the Officer's Club, Dhaka
Prime Minister Sheikh Hasina at the certificate giving ceremony among the participants of the P-60 foundation course, BAPTC
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COLUMN
/ Fuel Prices
“Bangladesh could not fully utilise the opportunity emerged from lower international oil prices�
Towfiqul Islam Khan Research Fellow, Centre for Policy Dialogue (CPD)
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It has been about two years since the oil prices started to plunge in the international market. The oil industry has experienced its fair share of booms and busts; but the current one is one of the deepest downturns. According to World Bank data, the average price of crude oil went below $30/bbl January 2016 which was more than 70% compared with June 2014 levels. Even during the recession of 2008-09, the lowest average crude oil price was $41/bbl. Nevertheless, as an oil importing country, it was certainly a boon for Bangladesh. Lower oil prices were transmitted in prices of almost all products in the international market; in Bangladesh, inflation has started to decline. Falling international oil prices also provided relief to government budgets. The government has only recently rationalised the prices at the domestic market. Regrettably, Bangladesh could not fully utilised the opportunity emerged from lowering oil prices. In the above context, it was advisable to reduce the administered prices of petroleum products to some extent and hence in a manner that BPC (and the government) and other stakeholders (producers and consumers) are able to share the benefits from lower global petroleum prices. On 31 March, 2016, the government reduced the price of furnace oil, mostly used by industries and powerplants, by more than 30% to Tk 42 a litre. The prices of diesel, petrol and octane were notadjusted at that time. On 25 April, 2016, the government has cut the prices of octane and petrol by Tk 10 a litre and diesel and kerosene by Tk 3 per litre to pass on to consumers the benefit of low fuel prices on the international market. The late decision was not welcomed. There is no doubt that this decision will bring some positives.
CPD undertook a Computable General Equilibrium (CGE) exercise to estimate the economy-wide impacts of a possible decline in fuel prices in the domestic market. The simulation examined the impact of cut in the petroleum price by 10%. The results show that this reduced price will lead to a rise in both GDP (at factor cost) and private investment by about 0.3%. Consumer price level (inflation rate) is expected to come down by 0.2 percentage point. However, government savings (deficit as a share of GDP) may deplete by 0.4 percentage points. Export (and that of RMG), on the other hand, may increase by 0.4%. Households are likely to be benefited with a rise in consumption (by 0.6% on an average), while
firm’s income may increase by the same margin. Consumption of households in the rural area is expected to increase more than aforesaid average (by 0.7%). This economy-wide impact assessment implies that there is a case for revising downward the fuel prices. However, it was also suggested that the prices should cut more drastically for furnace oil, diesel and kerosene compared to octane and petrol. Unfortunately, this did not happen. For example, the current diesel price in Bangladesh is still higher than that in India. Hence, while Bangladesh is losing its competitiveness to other countries. Moreover, this reduction in diesel price did not accompany reduction in transport fares. The prices were also reduced at a time when the farmers did not get the benefit from lower cost of irrigation. To a large extent, the recent price cut helped the rich as opposed the poor and the production. BPC, a state-owned monopoly, imports petroleum products (crude oil and refined products) from the international markets and sells it to the local power generating plants and other consumers (agriculture, industry, communication, domestic and others) at a tariff rate set by the government. Domestic prices of petroleum products have not been adjusted with the declining trend in international prices since January 2013. It may be noted here that, BPC, after incurring loss for fifteen years in a row, earned a profit of Tk 5,268 crore in FY2015. BPC did not take any (subsidy) support from the government during the first half of FY2016 and is unlikely to seek any support during the rest of the fiscal year. At the same, it needs to be taken into cognisance that BPC is operating with a large debt burden a major part of which is with the SCBs and guaranteed by the government. This profit making is an opportunity for BPC to improve its financial health. It may also be true that lower growth of revenue earnings in FY2016 has also made decision making as regards lowering of domestic fuel prices, a difficult choice for the government. Regrettably, as of now, there is no
clear reporting on the part of BPC as to the amount of profit being made and the way this profit is being distributed (e.g. repayments of past debt, dividend to government etc.). There is also a lack of clarity as regards major heads of BPC’s financial accounts such as income, expenditure, income, profit/loss, debt, liability and assets, etc. As has been noted, BPC experienced a major change in its financial account and health between FY2014 and FY2016 because of the windfall gain enjoyed on account of the differences in the petroleum prices between the international (low prices) market and the domestic regulated (high administered prices) market. According to Bangladesh Economic Review 2014, BPC incurred a net loss of Tk 2,489.86 crore till FY2014, it has unpaid debt service liability of Tk 19,71,617.6 crore (as of June 2013) and total due of Tk 14,183.64 crore (till December 2013). However, the financial position of BPC has significantly improved over the following period, thanks to the low price of petroleum in the international market. According to Bangladesh Economic Review 2015, BPC made a net profit of Tk 3,454.7 crore till 22 April 2014; its unpaid debt-service liability has reduced to Tk 22,28,423.9 crore (as of June 2014) and total due fell to Tk 11,152.78 crore (till 31 December 2014). Financial position of BPC has definitely improved further in FY2016 due to the falling fuel price in the global market, with domestic prices remaining the same. Higher transparency of the financial account of BPC would help understand how the windfall gain has changed BPC’s bottom line, how this has been utilised by BPC till date (a part of this profit was perhaps used to adjust accumulated losses and repay earlier debts). Transparency in this regard will help better and more appropriate policy making in the areas of price adjustments and allocating relative benefits to be enjoyed by key stakeholders and sectors (e.g. farmers, transport users, producers, exporters and consumers). At the same time, electricity and gas
tariffs may need to be readjusted to reduce the likely significant fiscal burden due to the adoption of new energy-mix policy. Tariff must not be forced to regulate at the level of minimum average cost pricing; true opportunity cost should be included in the tariff estimation. As was noted earlier, lower fuel prices will have positive impact on private sector investment. There is, thus, a strong case for further reducing fuel prices. As contingent liabilities of power and energy sector have been on the rise, necessary steps need to be taken for proper assessment, monitoring and managing of these liabilities, along with price adjustments. In Bangladesh, oil price cut should be calibrated by taking into cognisance the revisions of gas and electricity prices, overall impact of the price-change mix on major stakeholder groups and government’s subsidy related expenditure and earnings. While adjusting the fuel prices, within the fuel-mix, a differentiated approach will need to be taken as regards petrol and octane (relatively lower reduction in prices). The present world market and the forecasts give an opportunity for bringing reforms in this sector. The strategy of monopoly import of fuels by state agency will also need to be revisited to explore the possibilities of deregulating the import regime.
Towfiqul Islam Khan is a Research Fellow at the Centre for Policy Dialogue (CPD). He can reached at: towfiq.khan@gmail.com. The views of this article do not necessarily reflect the views of the aforesaid organization.
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COLUMN
/ Leadership
Learning Leadership from the Military
Shaikh Khalid Raihan MSc, MBA, CSCM. DHL Supply Chain, BeNeLux
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“The military makes you a man,” is a phrase that I had learnt at the age of 17 before I went on to join the army. Upon entering the military, I was taught something completely different, “Ever High is My Head”(Chiro Unnoto Momoshir). Currently in my early 40s, I reminisce about my journey and how grateful I am to the military for teaching me such essential life lessons. I served in a wide range of military positions that included a cadet, second lieutenant, captain of operational areas of CHT, a peacekeeper in war inflicted zones in Western Africa or as an intelligence operative or liaisons officer for foreign diplomatic missions. Every experience helped shape me into the person I am today. Among the many valuable traits that I have developed in the Bangladesh military, the most important are my leadership skills. The combined 35 year tenure of my service along with that of my father’s, accounts for the strong presence of the military way in my life. However, I had chosen to voluntarily retire from military service due to personal reasons. I wanted to make progress outside the military by exploring options outside my comfort zone. The discipline and mannerisms of the military allowed me to gain a significant degree of success within 5 years following my decision. My accomplishments included managing the administration of a workforce of 28,000 people, developing an international business for textile pre-consumer waste upcycling with the European markets for the first time and emerging in the supply chain profession. I established my own start-up in Europe, consulting with European companies about the supply chain sustainability; my 40 member supply chain team is one of the top supply chain companies in the world. I express the utmost
gratitude to the military for teaching me a number of priceless attributes and lessons regarding leadership that I have applied for the success of all my future ventures.
Setting personal example: As a leader, asking for results from your followers is a common practice that must be discontinued. A true leader only asks for results after they have shown what potential outcomes are and setting the standards of achievement. These actions initiate momentum and aspirations on a much higher level. Additionally, this allows for the leader to take a more active part in the hardships while eradicating the idea that they are not a person of action. The military has
taught me to set examples through actions and act as a mentor in order to motivate one’s subordinates.
Endurance: Darwin’s theory, survival of the fittest, is something that all leaders must incorporate into their ideology because it teaches the necessity for endurance. When any situation seems as if it will result in a severely dismal outcome without any room for improvement or damage control, the guidance of a leader serves as the key-surviving factor. Facing hardships on a daily basis and handling crisis in some of the toughest part of the world is a necessary criterion. Maintaining composure and the ability to keep calm during the most stressful situations will allow one to ascertain the most optimal achievement in a rather hopeless situation. This mannerism can be applied within the corporate field, in a military situation or during conflict resolutions in everyday life.
Self confidence: Every leader needs to perform his responsibility to assign tasks, ask for feedback and resort to corrective measures in conformation with corresponding circumstances. This includes using promotions, rewards or applying authority to implement objective change. This balance of authority and ability to command will only persevere through self-confidence. During my handling with international companies and workforces from different cultural and social background, my confidence acted as a strong benefactor in my handling of any new situation. The military allows for one’s confidence to flourish by allowing them to tackle a vast array of situation in order to fully understand their own potential and strengths.
Situational Awareness: Being in the ordeals of combat assignmentsm, both at home and abroad as a Military leader develops higher level of situational awareness in an individual. A person with such situational awareness becomes more
vigilant, agile in response time and more psychologically balanced. This is essentially needed to keep the team members driven without losing faith and bring out the best in the worst of situations. Such leaders are more likely to perform better with a team and achieve organizational goals.
Courage: “Courage is not absence of fear, rather moving with dignity in presence of it,” an articulate phrase that reminds us of how it is demarcated between acting logical and reacting inappropriately to situations. This helps in the development of a more practical approach blending common sense and capitalizing opportunities. Courage is not instinctive; it is developed over years of experiences through different situations. In the military, we learn to break open mental barriers and display courage. It makes an individual to set a target and complete it without fear. This is similarly applicable for life as a leader outside the military. A leader’s courage remains the follower’s inspirations and builds the bridge of mutual respect between them.
Taking ownership and acting responsibly: This is one leadership trait, which has a lot to do with developing trust between the leader and his followers. A good leader always takes the ownership of his team, protects them unconditionally to allow learning through mistakes and growth. This creates convenient learning environment without the fear of losing, where achievements are prime and mistakes are considered valuable experiences. Taking the responsibility for their team, a military leader knows how to conduct the entire group and take responsibility for the mistakes that were made under their supervision. Similarly, a business or corporate leader performs better when they take ownership of their team and protect the members from consequences. The output is optimum when the members are allowed to think freely and act without confusion.
Quick learning and adaptability: Wherever I have worked, my capability to learn the functional criticalities quickly and adapt myself to the existing environment has always made differences while leading any team. It primarily demonstrated my competence to deliver rapid results and earn respect from higher, parallel or lower levels in the hierarchy. Furthermore, it helped me secure a firm position as a leader among my team members. The ability to learn quickly and adapting to different situations comes entirely from the instinct to survive. Facing many sink or swim situations during my time in the military has uniquely developed this capability within me. Leadership isn’t a gift presented to us celestially by birth. It is a combination of nature and nurture. Having walked a versatile path from the jungles of Africa to the marvels of the western world, I have been able to capitalize my leadership skills that I have acquired from the military. The valuable lessons I have learnt through the cognitive process while performing my responsibilities in the military have solely contributed to develop my leadership skills. There is no denying the differences in the psychology and attitude of the military. A sensible approach to polish and fine tune those experiences to effectively apply them to my life outside the uniform has helped me secure my success as a corporate or supply chain leader. Human beings react and express themselves in surprisingly similar way everywhere in the world, regardless of race, color or country.
The writer is is currently working in Europe and is a senior consultant regarding Supply Chain Sustainability and Textile pre-consumer waste Upcycling.
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WORD OF MOUTH
/ Happening
Axiata Group Berhad has recognized the outstanding contribution made by Robi towards development of the ICT sector in Bangladesh in 2015
A BASIS delegation team led by President Shameem Ahsan met with Bangladesh Bank Governor, Fazle Kabir, to express its interest in supporting Bangladesh Bank to ensure optimum protection in cyber security
Chittagong Chamber of Commerce & Industry President Mahbubul Alam met the NBR Chairman
In conjunction with the ‘Dell Bangladesh Future-Ready 2016’ in Bangladesh, Dell introduced new additions to its portfolio of commercial products in the country. Harjeet Singh Rekhi, General Manager, Dell South Asia Developing Market Group; Chuang Yeah Foo, Head of Client Service, Dell South Asia Developing Market Group and Mohammad Atiqur Rahman, Country Manager, Dell Bangladesh at the event
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Dhaka Bank signed a MOU with Nokkhottrobari Resort recently for offering attractive privileges to Dhaka Bank cardholders
Eastern Bank Limited (EBL) and Bangladesh Telecommunications Company Limited (BTCL) jointly signed an agreement to facilitate BTCL customers bill collection through its branch network and transmit real time collection inform
IDLC Finance Limited inaugurated its newest branch in Kushtia
BRAC Bank and Bangladesh Bank sign Long Term Financing Facility Agreement under FSSP
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Master Chefs Abu Nasher and Shamsher of Le Méridien Dhaka prepared a scrumptious seafood menu to be showcased and devoured at the hotel’s Mediterranean rooftop-terrace restaurant Olea
NRB Bank Limited and BRAC EPL Stock Brokerage Ltd.signed an Agreement for Investment Banking services
State Minister for Posts and Telecommunications Tarana Halim addressed a discussion on “Mobile Handset and its Role in Building Digital Bangladesh” as chief guest
The Westin Dhaka introduces the finest imported Australian beef steaks and the freshest grilled seafood everyday at Prego
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BLUE ECONOMY
/ Inside Out
The Blue Economy in Bangladesh By Pankaj Dastider
he concept of the Blue Economy was introduced in Bangladesh recently, and as a maritime and coastal nation, there’s a lot we can gain from it. Exploration of the enormous potential of sea and sea resources through organized management, however, is not easy because it requires long term planning and infrastructure development both in the shore and off-shore areas ensuring sustainable development. Bangladesh needs to explore and exploit the immense untapped natural resources of the Bay of Bengal as the land territory of the country covers only about 1,44,000 square kilometers. Against this backdrop, bilateral talks to separate the maritime boundary commenced with India and Myanmar during the rule of Bangabandhu Sheikh Mujibur Rahman in 1974. Bangabandhu first enacted the Territorial Waters and Maritime Zone Law in 1974. He also initiated the dialogue on delimiting the maritime boundary of Bangladesh with Myanmar and India. At that time, Myanmar agreed to demarcate Bangladesh’s maritime boundary up to 12 nautical miles from the St Martin’s Island but later Myanmar stood away from its decision. The negotiations continued almost for nearly 40 years but the only success achieved was signing of the Agreed Minutes for delimitation of 12 nautical miles territorial sea on 23 November, 1974. Under the terms of the Agreed Minutes, vessels of Myanmar have enjoyed uninterrupted navigation for trade and commerce through Bangladesh’s waters to and from the Naff River. All other attempts failed to bear any fruitful result since then.
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The Bangladesh Government declared 28 oil/gas blocks in the Bay of Bengal without settling the maritime boundary. Myanmar claimed 17 blocks while India claimed 10 blocks out of our declared 28 gas blocks. So Bangladesh had to seek justice under the arbitral settlement provisions of the 1982 UN Convention on the Law of the Sea (UNCLOS). Under the Convention, two methods of dispute-resolving mechanisms were available to the concerned parties. Myanmar agreed to the jurisdiction of the Hamburg-based ITLOS (International Tribunal of the Law of the Sea) while India agreed to the authority of The Hague-based Permanent Court of Arbitration (PCA). Verdicts of both the courts have been delivered. ITLOS awarded 200 nautical miles of an economic zone to Bangladesh, thus allowing 111,631 square kilometers of sea area to Bangladesh. Before that, Bangladesh could only claim 130 nautical miles of exclusive economic zone. St Martin’s Island would have full 12 nautical miles territorial sea instead of 6 nautical miles. On the other hand, The Hague-based Permanent Court of Arbitration judgment allows Bangladesh a 200-mile exclusive economic zone (EEZ). Also, it also allows 134 miles of the continental shelf (seabed) beyond the 200 miles economic zone and access to the open sea. Thus, the chances of turning Bangladesh into a “sea-locked country” are gone forever. The total area of the sovereign rights of Bangladesh constitutes nearly 81% of the mainland of the country. There is an added responsibility to safeguard the area, the prime responsibility of which falls on the Bangladesh Navy and the Bangladesh Coast Guard. Prime Minister Sheikh Hasina has constituted a cell consisting of the relevant
The concept of the Blue Economy was introduced in Bangladesh recently, and as a maritime and coastal nation, there’s a lot we can gain from it. Exploration of the enormous potential of sea and sea resources through organized management, however, is not easy.
ministries and government agencies to develop a maritime policy including setting up a maritime commission to protect the vast sea area. The Bay of Bengal is abounding with mineral resources. The USGS study conducted in 2001 had estimated a reserve of 8.8 trillion cubic feet of undiscovered natural gas in the shallow offshore (water depths of up to 200 meters) of Bangladesh. The deep offshore has so far remained unexplored due to maritime disputes. However, the huge sedimentary column present in our deep offshore has always been considered as a potential habitat of hydrocarbon and the ITLOS and PCA resolutions have opened up the avenue to explore it. The judgments of the international courts have not only ensured Bangladesh's rights to these resources but also raised our awareness about the necessity to equip ourselves for the protection of these resources and uninterrupted exploitation of those as quickly as possible. Regional Connectivity: The government has laid stress on some new regional economic connectivity initiatives taken by major economies, including the China-sponsored old-silk route plus. The major economies have been pressing the country to join the efforts, and if implemented, this will change the business landscapes dramatically in the future. On September 2, 2014, Bangladesh Foreign Minister spoke in a two-day international workshop on Blue Economy and said that the Blue Economy must be inclusive, and people-centric. He gave an idea of the collaboration that could take place and said that it must be based on certain universal principles of engagement, mutual trust, mutual benefits and equitable
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sharing of profits. All collaboration would have to be in research, observation, surveillance, and in respect of sharing analyses, outcomes and observations. Noted industrialist and regional connectivity expert Salahuddin Kasem Khan emphasized on a Japan-Bangladesh strategic partnership framework to realize the vision of the Bay of Bengal Growth Triangle and said it can help Bangladesh to catapult itself to a middle-income country by 2021 and a developed country, soon afterwards. He postulated that during the visit of Prime Minister Sheikh Hasina to Japan in early 2014, Prime Minister of Japan, Mr. Shinzo Abe broached the idea of a Bay of Bengal Growth Triangle which drew the attention of all in the region. “Indeed, Bangladesh, being at the apex of the Bay of Bengal with India and South Asian Association for Regional Cooperation (SAARC) to the West, China to the North and Association of South East Asian Nations (ASEAN) +3 to the East, could emerge as a Mega Asian Growth Triangle, attracting trade and investment from this region, particularly from Japan. Being located in a unique position for regional connectivity, Bangladesh would, in the future, connect Kunming, China through Myanmar and Cox’s Bazar. Growth Triangles have produced the newly industrialized countries (NIC) like Thailand, Malaysia, Singapore, Indonesia and Vietnam. This has triggered their economic breakthrough with Japanese investment, trade, and technology,” he said. Bangladesh can take a cue and try to create a new Regional Economic Architecture in the Bay of Bengal and the Port of Chittagong can take the initiative by creating a grid of Ports in the periphery of the Bay of Bengal, which has long regressed being left out of the container handling Port Hubs in the world. Chittagong Port may sign Port Twinning
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At different forums, the experts have opined that the initiatives being taken under the ambit of BCIM cooperation forum hold tremendous potential for expanding trade and investment among the concerned countries.
Agreements with Penang, Port Kelang, Singapore and Medan in the East and Kolkata, Chennai, Colombo and Maldives in the West, to initiate the Bay of Bengal Growth Triangle, followed by direct air links with these port cities to improve regional connectivity. The proposed road and rail links to Kunming of Beijing through Myanmar will be of great importance to the Regional Connectivity. The Asian Development Bank (ADB) has reportedly shown interest to fund US $1.5 billion (US Dollar 150 crores) for building a rail track between Chittagong’s Dohazari and Ukhia bordering Myanmar as part of a larger Trans-Asian Railway Network. The project to set up rail communication with Myanmar was approved in 2010 but has been on hold due to lack of funds. The ADB wants to fund it because of its tremendous prospects. Implementation of the BCIM (Bangladesh, China, India, and Myanmar) economic corridor could usher in new opportunities and immensely impact the overall socio-economic condition of Bangladesh and this sub-region. A plan is also there to establish a Maritime Silk Route across the Bay of Bengal to link with countries in the rims of the Bay and the Indian Ocean. At different forums, the experts have opined that the initiatives being taken under the ambit of BCIM cooperation forum hold tremendous potential for expanding trade and investment among the concerned countries. Two of these countries – China and India – are fast-growing economies the other two – Bangladesh and Myanmar – are developing ones. Cooperation in power and energy, transport infrastructure, shipping, tourism, trade, business, and investment will gain ground once the proposed economic corridor is operational. Further research and studies would, however, help identify the ways for deriving greater benefits from the initiatives by making the best use of their comparative advantages, the experts observed. The initiative to build an economic corridor received a boost in 2013 when China and India showed their interest in utilizing the BCIM framework for enhancing connectivity in the region. Bangladesh and Myanmar responded positively to the proposal. Construction of the proposed deep-sea port at Matarbari of Cox’s Bazar will greatly help as Yunnan province of China is nearer to Chittagong Port than it is to Shanghai or Beijing. With proper policy support, Bangladesh can emerge as the hub of South-East Asian connectivity with access to one-third of the world’s population. The writer can be reached at pankajdastider@gmail.com
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ASK THE EXPERT
/ Public Speaking
Mastering Public Speaking G. Sumdany Don
Chief Inspirational Officer at Don Sumdany Facilitation & Consultancy
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he concept that every eye in a room is paying attention to your every word and motion, makes public speaking one of the most dreaded activities in the world. Research indicates that one out of every three persons have anxiety or fear regarding public speaking. Whether it is pitching to clients, giving a good presentation, or simply speaking up in a meeting, most of us are petrified at the near thought of it. Our minds entertain the thoughts of being laughed at, ridiculed for pronunciation of a word, or forgetting our points. All these negative limiting beliefs make most people afraid of public speaking. As a professional trainer, I believe that there are practical tips to help improve public speaking abilities and to overcome that fear.
Practice
The most effective way of improving public speaking or getting rid of the fear is to practice public speaking. In his book the "Outliers", Malcolm Gladwell explains the 10,000 hours theory; the gist of the theory is that to achieve mastery in any art form is through practice. Public speaking is a form of art that requires polishing, nurturing and practice. Stand in front of the mirror and practice your speech followed by practicing your speech in front of few familiar faces. Take small steps and a small amount of time from your busy schedule to hone your speaking skills. This will allow you to slowly conquer your fear of speaking.
Get rid of the "What If" perception
Every fear we have is mostly the outcome of our thought process. Worrying is detrimental to our thinking process as it deviates from our ability to solve the actual problem. In regards to public speaking do not be bothered about the comments of others. Alternatively, use their remarks to polish and master your skill. Self-confidence is created through the ability of executing something, so take little steps that will help you to practice a little measure of public speaking and gradually build yourself as a better speaker.
Get into a community
If you look at renowned public speakers you will see most of them had a mentor they revered and followed. Due to the hectic nature of our live, the time for one on one mentoring is seldom convenient thanks to time constraints. However, there are various clubs and communities that help nurture the art of public speaking. For instance, Toastmasters International is an organization that provides a similar community and platform to practice communication skills. In our country there are various operating toastmasters clubs such as the Dhaka Toastmasters Club, Chittagong Toastmasters club, etc where young professionals can join and practice communication skills properly.
STL Method
(Speaking Through Listening) Just think how all of us have learnt to speak during the initial stages of our lives. It was through listening to our parents, family and environment that we have acquired our linguistic capability. Similarly if you listen to great speeches and talks, your brain will be gradually condition itself to speak in that certain manner. You can pick your own favorite speaker and listen to them or you can go through the various TED Talks available online. I would personally advice you to listen to at least one TED talk of your choosing per day, it covers diversified topics and also has short durations to avoid boredom. This will provide you food for thought as well as polish your public speaking abilities.
These are the hands on practical tips that will gradually help you improve your public speaking skills. Implementing them in your life and working on them relentlessly will conquer the fear and upgrade your level from novice to master. The only aspect that should resonate when you are speaking is your confidence and potential.
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ENTREPRENEURIAL EXPERTISE
/ Interview
“We must remember that there was once a prosperous time in our lives and it is up to us to bring it back or maintain it� Md. Sabur Khan
Chairman of Daffodil International University (DIU) & Daffodil Group
A self-made businessman, Md. Sabur Khan started his business career as an IT businessman, in 1990 with Daffodil Computers Limited (DCL) a public listed IT company. He proved himself as a serial entrepreneur and established more than 35 new ventures. He ventured into the education sector in 1996 and since then has successfully founded 17 ventures one by one, including Daffodil International University (DIU). He is a former President of the Dhaka Chamber of Commerce and Industry (DCCI), and Bangladesh Computer Samity (BCS) and is the Chairman of the Global Trade Committee and Director of World IT & Services Alliances (WITSA). He has written & published several books on entrepreneurship. He has been recognized by many organizations, nationally and internationally for his expertise in entrepreneurship, business and IT.
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We must prove that Bangladeshi entrepreneurs have a measureable degree of integrity and competence. The government’s implementation of more serious laws will now show the international platform that we abide by rules that make us trustworthy.
Q Who inspired you to become an entrepreneur? I can site two people as my inspirations behind becoming an entrepreneur. When I was just starting my business, the Managing Director of Urban Design and Development Limited, Nazim Uddin Ahmed, would come to the office regularly. He was a student of IBA (Institute of Business Administration); I greatly admired his ability to balance a career and excel in one of the toughest programs of the country. Nazim has taught me a great deal about integrity, commitment and perseverance; accomplishing so much at the same and performing with his true potential. The second would be Sufi Mizanur Rahman, the Chairman of PHP Group. He has taught me the most about the mannerisms of an entrepreneur and
emphasized the need for humility, cordiality and sacrifice.
You are committed to the idea of educating and training entrepreneurs. What is the driving force behind this initiative? Sufi Mizanur Rahman inspired me to ask my students how much they were willing to sacrifice for the knowledge and wisdom that they were receiving. It is simply an exercise to see their willingness to envision a world beyond their own fundamental needs and I believe that this is a quality that every student needs. They must look beyond themselves because they are responsible for the conglomerate that is under them, regardless of how small or great in number the staff is. When I had acquired enough money I had purchased land for my employees to live in and helped my brother with his business. I realized then that I have a knack for helping businessmen find their true potential. Furthermore, I have always emphasized the need for those more fortunate to contribute to their society. These ideologies start from a well-rounded education. Our efforts have proven to be successful as we produce 2,500 graduates annually. I would like each of those students to create a better life for themselves while improving the society that is a testament of their integrity.
You have had a very successful and diverse career. Could you elaborate upon your beginning and the ventures you have committed to? Upon the introduction of computers in Bangladesh, I
started my own business endeavors. I created the first “superstore” where all the parts and necessary components of computers could be found in Kalabagan. My idea was that this would be a one-stop shop for everything that was necessary for a functioning computer. It led me to become the General Secretary of the Computer Samity; this was my first experience in a leadership position. I continued to become the President of DCCI. It was during this time that I conducted research and published several papers on the education and shaping of an entrepreneur. This inspired me to create a university that would develop that provide the knowledge, training and application of a business education through what is Daffodil Institute of Information Technology (DIIT).
What inspired the name Daffodil? When I was ten, I vividly recall reading Wordworth’s poem, Daffodils; the poem iterates a story of a person finding hope during a gloomy day upon the site of daffodils. The character reminisces about their memories in the field every time they feel depressed or through any difficult situation. I think the greatest message that poem sends is that a positive attitude is imperative. We must remember that there was once a prosperous time in our lives and it is up to us to bring it back or maintain it.
What are some of the greatest challenges entrepreneurs face in the country? There is a lack of information on modern techniques among
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developments and how to utilize the cyber world in order to expand their ventures. With the incorporation of technology, it has become much easier for countries like our own, which have rich resources but lack development to present these as products for the international market. The platform for business has become more global with the outreach greater than ever. No business will reach a recognizable degree on a national or international stage if technology is not incorporated.
How can we alleviate this regression in Bangladesh?
entrepreneurs in Bangladesh to fully integrate with the businesses on a global level. We must prove that Bangladeshi entrepreneurs have a measureable degree of integrity and competence. The government’s implementation of more serious laws will now show the international platform that we abide by rules that make us trustworthy. Many entrepreneurs have the potential and the vision to expand their businesses to the most developed parts of the world and it is time that they recognize that potential.
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The era of digitalization is upon us and it has further integrated the world. How do you feel that this change future business trends? Technology has become the determining factor for any business to flourish. Any curriculum that is geared towards creating new entrepreneurs should teach students technological
The change begins with the teaching of our future entrepreneurs. Our education system is not up to the desired level to match international standards. If a student is not given the proper education and knowledge, they will never learn to implement the proper methodology into the corporate field or any other professional environment for that matter. We must guide our students towards the trends for them to find the most fruitful ventures. For example, India has invested their youth towards the aeronautics when the prospects of expansion were in their initial stages. The business is now booming in India. Similarly, we must guide our students to the best programs in the world and allow them to bring their knowledge back to the country. Our service, agriculture and IT sector have the potential to expand into a global entity. If the proper persons are cultivating these domains with the proper methodology, the economy will flourish.
BUSINESS ICON
/ Interview
The greatest challenge that Bangladesh faces to attracting FDI is policy consistency Salahuddin Kasem Khan Managing Director A. K. Khan & Co. Limited
Salahuddin Kasem Khan is the President of Japan Bangladesh Chamber of Commerce & Industries and Bangladesh Employer’s Federation. He graduated from the University of Punjab in 1968 and his did Post Graduate in Legal Studies in London (1969–1972). Mr. Khan is also the Chairman of CEAT-AK Khan a J.V with RPG Group, India, the Vice Chairman of A. K. Khan Penfabric Company Ltd., A JV with Penfabric Malaysia of Malaysia and subsidiary of Toray, Japan; Director of Bengal Fisheries Ltd., joint ventures with Nichiro & Maruha of Japan, Former Chairman of AKTEL, Bangladesh; former Chairman of Bangladesh Textile Mills Association. He serves as the Chairman of Chittagong Skills Development Centre (CSDC), Co-Chairman of the EC National Skills Development Council (NSDC), Member NSDC headed by the Prime Minister. He was awarded with Medal of Honors of FICAC, and the Tax Card Honor presented by Govt. of Bangladesh, Minister of Finance. He was Member Board of Trustee, Asian University for Women, Chittagong, the Chairman of UCEP, Bangladesh, Trustee-Secretary A. K. KHAN FOUNDATION, Member, IAP, World Islamic Economic Forum (WIEF), whose patron is the Prime Minister of Malaysia and appointed as Hon. Consul General of Turkey by the President of Turkey in 1984.
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The primary development needs to occur in transportation; energy and infrastructure. We must improve the logistical modes and develop high speed connectivity between Dhaka and Chittagong with electric trains.
Q
You are extensively involved in the development of the industrial sector. What has inspired you to take on this venture?
I believe that we can learn greatly from our past history regarding the potential of Bengal. The English came to Bengal in the 18th Century as it was the richest part of India, and were keenly interested in the Bay of Bengal, trade in muslins, indigo etc. thus the development of the East India Company created some of the richest English
Bangladesh. What impact do you think that this has on the overall economic growth of Bangladesh?
merchants of that time like Robert Clive. 200 years of colonial rule left us in poverty. We witnessed in the Pakistani period that the Japanese financed many industries in what was then East Pakistan in Textile Mills, Steel Mills under the 1st Yen Credit in 1960. The Japanese International Cooperation Agency (JICA) published a report in 1995 for BOI in which it cites the Bay of Bengal Industrial Triangle as an integral part of the Asian trade triangles like ASEAN+3. Additionally they highlighted the potential in our numerous industries such as jute & textiles. Matarbari Energy Hub will be a mega power project with deep sea port facilities and special economic zone will bring significant breakthrough for Bangladesh. We must realize the geo strategic potential of our country and utilize the BIG B and the One Belt-One Road, Maritime Silk Route, to enter the Global Supply Chains for Trade & Investment.
In the sixties, the East Pakistan Industrial Development Corporation (EPIDC) led the initiative of Public and Private Partnerships (PPP) in the Industrial sectors; we continued this idea following the models of Japanese and Korean industries given their commendable degree of success. This led to the growth of jute and textile sectors by first generation Bengali Entrepreneurs directly demonstrating an immediate impact on economic growth. If public and private sectors work in partnership, there will be real growth towards Bangladesh becoming a developed nation – as such we should try to create “Bangladesh Inc.”, much like Malaysia Inc. and Japan Inc. However, increasing FDI inflow is big challenge for us and special focus is needed.
There has been a great deal of growth in the private sectors of
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Bangladesh. Do you feel that Bangladesh is on the right path or do you see the potential to do better? I believe that Bangladesh is on the right economic track given the fact that we are a fairly young nation. Following its independence, we followed a command economy model. Bangladesh has survived a devastating liberation war and political upheaval to bring forth an effective Government structure which is supporting both public and private sectors in industrial development in a PPP Structure. We commend the proactive role of the PMO, BEZA, BEPZA, BOI and PPP under PMO Office which will now be under an Umbrella Organization Bangladesh Industrial Development Authority (BIDA), much like Malaysia Industrial Development Authority (MIDA) in Malaysia.
You have emphasized the ideas of the “Big-B” model and the role of the Chittagong port. Could you elaborate upon your reasoning behind this conclusion? If you look at the coastal belt development strategy of China, it started with the “Schezen SEZ” which covered the entire region and reached a CAGR of 38%, the highest rate of growth in human history. The present policy of the Government to create a hundred economic zones should create ten million jobs all over the country by 2020. This will occur particularly in the coastal zones from proposed Deep Sea Port of Matarbari to Khulna, which will create a similar success story for Bangladesh. The ever-growing young population, if properly upskilled will be able to obtain jobs in these SEZs. Additionally, numerous Japanese investors are looking for regions that are accessible and have lower labor cost than China, I believe that Bangladesh can benefit from this relocation. Danny Quah, Professor of Economics and International Development, and Director of the Saw Swee Hock Southeast Asia Centre at the London School of Economics, has inferred that a paradigm shift to the East, from the Persian Gulf to the Bay of Bengal, to be the new centre of world economic growth by 2050. Thus
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leading to Asia’s mega growth triangle in the Bay of Bengal - this is the vision we need to Brand Bangladesh with.
In this context, how does Chittagong need to develop to maintain these economic zones? The primary development needs to occur in transportation; energy and infrastructure. We must improve the logistical modes and develop high speed connectivity between Dhaka and Chittagong with electric trains. Riverine transportation is very important for transferring large number of containers from Chittagong Port to internal regions. The government is currently working on developing these river ways by capital dredging. We have to focus on developing Government institutions regionally so that they can give decisions locally, particularly in Chittagong. The so called “Commercial Capital” of Bangladesh can be an engine of economic growth for the whole country. The Chinese and Japanese are focusing their large investments in this region. For example; Matarbari, Anowara and Mirershorai SEZ coupled with large energy investments.
What are the challenges that Bangladesh faces in this regard? The greatest challenge that Bangladesh faces to attracting FDI is policy consistency. We need continuous dialogue between the private sector and the government. In this context, we can look to Malaysia, as an economic model. Former Prime Minister, Dr. Mahathir Mohamad conducted monthly
meetings with business leaders and foreign investors. Moreover, MIDA is a significant organization that acts as an efficient “One Stop Service” institute. Secondly, our country has become too heavily centralized around Dhaka. We must come out from our Dhaka centric model to developing other area of great economic potential like the Chittagong region. Thirdly, quality education must be emphasized. The National Skill Development Council (NSDC) requires further degree of development because if we fully utilize the potential, skill and manpower of our nation we can double our remittances from the skilled work force to $30 billion.
What tools are required in the economic development of Bangladesh? We need to implement ethical business practices and inclusive economic growth strategies for all regions of Bangladesh. There is a huge deficiency in the management and technical education, leading us to rely heavily on foreign managers for these high paying jobs. We have to collaborate with prominent business schools to bring the curriculum of the Bangladesh Institute of Management (BIM) up to International standards as China has done in joint collaboration with EU-BS’s. Bangladesh needs to create its own managers of international standard. Recently at the 2nd PPP Dialogue in Tokyo with the Japanese government and private sector, we have proposed setting up “Kaizen Institutes” in Dhaka & Chittagong to complement the 100 SEZ Policy being supported by JICA .
EDUCATION EXPERT
/ Interview
Leadership has to be built through practical experience that transcends beyond the capacity of any textbook Dr. Md. Golam Samdani Fakir Vice-Chancellor Green University of Bangladesh
Dr. Md. Golam Samdani Fakir is the Vice-Chancellor of Green University of Bangladesh (GUB). He was Director BRAC Training Division. He served as the Pro-Vice Chancellor and Director of the Teaching and Learning Center (TLC) in BRAC University and visiting Professor of SIT Graduate Institute, Vermont, Brattleboro, USA. Dr Samdani Fakir was the co-founder of Global Partnership Program and served as Academic Chair for the courses offered under the partnership. He was the facilitator of BRAC University Initiative for Learning and Development (BUILD) program.
Our students have the ability and required potential to become a leader however they lack the vision of what kind of future they would like to create.
You have been the director of various university leadership programs in Bangladesh. What are the challenges when creating new educators or leader?
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In 1995, when I was working as Director of BRAC Training Division, we realized that the leading NGOs in Bangladesh were suffering from what is known as founding Executive Director Syndrome. By this syndrome, I mean to say that the founding leaders did not have an idea about who would succeed them to lead the entity. The challenge was to make it interesting and interactive; there was a need to merge course knowledge with interactive applications. To address this issue we developed a postgraduate Diploma Program for NGO Leadership and Management and Master in International and Intercultural Management which were conducted till 2003. The NGO professionals from 35 countries of the world attended this program. The program was closed when BRAC University started offering course on Master in Development Studies in 2003. When I joined BRAC University in 2009 as Pro-Vice Chancellor, my experience was that teachers who were joining in the tertiary level universities had no idea regarding teaching procedures. The general perception is that they are the top tier of their class therefore they have all the knowledge to teach and require no type of training. In
Bangladesh we have 92 private universities, 38 public universities but only one Graduate Training Institute associated with Mymensingh Agricultural University of Bangladesh has been offering training courses for the teachers. In Green University we have established Center of Excellence for Teaching and Learning and offering certificate courses for the newly recruited teachers.
What is the common perception of the youth in the regards to being a leader? How is education changing this perception? Our students have the ability and required potential to become a leader however they lack the vision of what kind of future they would like to create. It is the teaching system that needs to make them a visionary. They need to fulfill three criteria, they need to be academically competent and they also need non-academic competence. In terms of non-academic competence, they must know where they are value driven and they must demonstrate competency in communication skills, fluency in both Bangla and English, effectiveness in problem solving and decision making and they must be socially responsive citizens of the
country. It is the responsibility of the university to prepare them to acquire those competencies; the university along with academic courses should emphasis on extracurricular activities for the students.
You greatly emphasize the need for extracurricular activity. What are some of the extracurricular activities offered in Green University? We have created 17 clubs on different areas, our Center for Career Development is offering professional life skills development programs for the graduating students and which are mandatory. It is our belief that these tools are essential for our students to learn these skills and build their confidence. The program teaches students to prepare their resume, present themselves in the job market, face interviews and tackle the challenges of an actual working scenario. Our clubs offer everything from sports, humanitarian activity to debate. We want to instill confidence through activities that they excel in. For example, we have created the Moot Court Society for students who study law. The club is catered to teach them how to articulate themselves during different types of www.icebusinesstimes.net
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cases, a skill that is essential in their vocation. Our Debating club has been instrumental for strengthening analytical skills of the students. Senior student of the university are involved through student mentorship program to provide mentorship support to the fresh students in every semester. GUB has also undertaken a special Program known Green University Initiative for Future Transformers (GIFT) for the mid level undergraduate students to develop their leadership skills. Leadership has to be built through practical experience that transcends beyond the capacity of any textbook.
How has your extensive research helped you develop programs such as BUILD that trains future leaders? BUILD was raised when I was with BRAC and BRAC University with one question in mind in which way BRAC University would be different from other private universities (in 2001 Bangladesh only had 8 private universities). It was observed that there is a lack of strategic thinking programs for learning and development. We conducted research from various universities to find what else must be added to the curriculum in order for students to meet society’s needs. Here, in Green University we have created the Center for Research, Innovation and Transformation (CRIT) for promoting research culture among the faculties and students. We offer advanced research methodology courses for our faculties so that they are innovative and apply new knowledge with the progress in time. We are also continuously educating through our Center of Excellence for Teaching and Learning (CETL) our teachers for ensuring interactive and collaborative teaching and learning.
Are you creating any new programs or courses that you will direct in the future? Last year on 4th May, we organized a consultative workshop to discuss the emerging needs of professional capacity development of teachers those who are joining in teaching profession at the university level. The Vice-Chancellors and Pro –Vice Chancellors from 25 universities attended this consultative workshop and came out with an idea to create a platform, named Foundation for Learning, Teaching and Research (fLTR) through which we
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could address needs of professional development of teachers in Bangladesh. I am currently working as a Secretary from Green University of Bangladesh (GUB) for this foundation. The other founding members involved with fLTR are ViceChancellors of University of Asia Pacific, BRAC University, Independent University of Bangladesh, United International University, Eastern University, University of Liberal Arts Bangladesh, Daffodil International University and Ahsanullah University of Science and Technology. The official registration for the Foundation for Learning Teaching and Research (FLTR) is in progress. We are planning to offer several types of certificate courses in teaching learning and research.
You have served as a professor abroad. How are they effectively teaching leadership skills? What can we acquire from them to make our dynamic better? They have certain environmental facilities that we do not provide. They have tremendous opportunities in order to apply the knowledge from their education into their prospective occupational life. While I was teaching (SIT Graduate Institute) a course on strategic management that helps them prepares a strategic plan to implement growth of a company/organization. We asked the students to go to the local organization and ask them for permission to create a strategic plan for their organizations. In groups of four, they were to convince executive directors of these companies and ask them if
they would purchase a strategic plan (if they find it useful for their organizations) prepared by the group. At the end of the semester, they were required to present this strategic plan to the faculty and the respective director. The director’s acceptance of the plan would determine whether the group would pass or fail the course. Our students have immense potential and our faculties need to nurture them in the right way. Teachers must give their students an environment that helps them build their confidence and find ways to increase the scope for practical experience.
What can programs such as Global Partnership offer to academics? How did it help your academic career? The program created for managers and leaders. The idea was that we needed a more comprehensive program that is beyond a 1 or 2 weeks short training courses. The program involved four months of course work and three months of practical work to apply that knowledge to develop a professional practicum. They were required to work with an organization to indentify, diagnose and find solutions for the problems within. These program not only offer theoretical information and solutions, it allows student to apply it. We had two teachers for each course, one was a practitioner and another one was an academician for ensuring more life and practical oriented learning. This allows for students to acquire relevant knowledge, case studies, and the application of practical experience.
COVER STORY
/ Leadership
unfolding leadership
By Sohana Nasrin
O
f all business skills that are consistently under the microscope, leadership appears to be the most scrutinized and crucial one. Countless books, articles and academic researchers have been talking about the value of leadership and how to achieve those. It is most likely that any bookstore will have at least one book that talks about how to make a great leader, making the aspiration of achieving leadership an essential part of our pop culture, not only academic scholarship. The scientists, neuroscientists, psychologists and gender researchers chime in the discussion to make sense of leadership skills and the process of acquiring those. While everyone on individual and communal levels strive to achieve leadership positions, it is probably not very difficult to understand why companies and organizations pay special attention to leadership and its development- because it is a matter that is directly related to the financial success of the company
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unfolding leadership 1.
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Why Leadership is Essential We all know that leadership is a big deal when it comes to any business - for profit or not for profit. What people do for their company or organization really matters. What we consciously don’t know, probably, is the reason why it is such a big deal. Here are ten reasons why leadership is one of the most important phenomenons in any organization:
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Leadership and high performance: these two are interconnected. An ideal leader is capable of creating higher performing teams which is vital for any organization. Sales and customer satisfaction: these two terms are directly related with the leadership in any organization. A good leader who leads a successful team not only conceptualize all the theories of leadership, but also knows how to translate those into action like sales and customer satisfaction. Organizational commitment and loyalty: loyalty towards an organization springs to the most when the team members feel safe and confident under someone’s leadership. Willingness and motivation: two very important traits that are vital for any individual to thrive. A good leader, with his or her strong leadership, knows how to nurture willingness and motivation in his or her team members. More successful representation: a leader who is confident in his or her team is more likely to represent the success more elaborately to the upper management. And we all know how that works out in a company- if you have more success as a team, you have more incentives too. Reduced turnover and
drop out rates: leadership plays a vital role in keeping turn over and people’s spirits up. Hire a good leader who can mold the minds of people and there will be less drop outs. 7. Recruitment: a history of successful leadership positively affects the recruitments in a company. It is hard not to say good things about a good leader and it kind of travels fast among qualitied job seekers. 8. Leadership aids authority: at times authority sounds like a negative word, but in fact it might not be a really negative one when it comes to business projects and deadlines. It is nice to have someone to guide you and check on you while you try to accomplish something. 9. Seamless collaboration: any kind of production, be it tangible or intangible, is concerned with land, labor, capital and entrepreneurship. Leadership is the major factor that makes everything work together seamlessly. 10. Leadership and social process: any organizational experience is transformed into a social process with the help of good leadership. People, being social beings, thrive the best in a social process and hence it is much necessary to have a ‘hero’ among them who can be a star to guide them.
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a history of successful leadership positively affects the recruitments in a company.
Leadership Reality Check There are more myths about leadership than the fingers in your hands. These myths expand from the conceptual to the practical level preventing very deserving people from rising to the top. These false beliefs and outdated concepts are holding many companies and organizations back. More often than not, these myths also affect us on an individual level. Let’s try to defy some of these myths after identifying them. That way we can set ourselves for bigger things in life.
Leaders are born, not made.
Reality: It is possible to have some innate leadership qualities like charisma, vision and so on but it is also very true that many leadership qualities can be achieved with focus, willingness and patience. Which means, leadership can be learned, after all. Scholars argue that it relies heavily on confidence and confidence is a leadership skill that can be learned, practiced and implemented effectively. Leadership consultant Peter Barron Stark believes becoming great leader is 10 percent genetics and 90 percent hard work. “I recently saw a teenager with a severe developmental disability give a speech,” Stark says. “At the end of his presentation, about 50 people walked up to this kid and volunteered to help him advance his cause. Anyone
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can be a leader, but it takes the willingness to take a risk, continue learning and work hard.”
Men make better leaders.
Reality: Gender difference might not be a myth when it comes to leadership. May be the men and women do lead differently but that does not mean that one is better than the other. In fact, women tend to be better at demonstrating concern for others, which is an important trait of being an effective leader. This phenomenon is also known as transformational leadership. Mary Barra, CEO of General Motors, is doing this right now. She is transforming the culture of the company through her own example of brutal honesty and accountability.
Leaders are only
found at the top.
Reality: According to the traditional school of thought, leaders are only found at the top of any organogram. For example, executives, supervisors, managers and directors – they were the only people who used to be called leaders. But leaders can be found throughout the organizations, and people at all levels can hone their leadership skills to have significant and positive impacts on those who are around them, and not necessarily only sub ordinate to them. In fact, different progressive organizations have started to embrace the ‘bossless’ culture, empowering all employees to serve as leaders in some capacity, depending on necessity. In this model, if an employee finds a problem that needs to be fixed and can be done from his or her level, he or she will act as the leader and make decision to fix it. This model not only creates great decision makers but also makes it easier for the CEO or Managing Director to manage people.
Great leaders keep their emotions in check.
Reality: Great leaders connect to others on a human level and that requires using emotions such as empathy, compassion and happiness. Every day, people in different organizations are dealing with personal situations. We try to leave
these emotional matters at the door or somehow lock them up for the day until we get home, but that is not a realistic approach. Effective leaders recognize that employees and colleagues are people and they may have pressing personal matters. Hence, they make efforts to work with those emotions, they become flexible and at the end it works for the betterment of both the employee and the company.
Good leaders have more education than other people.
Reality: Educational degrees may mean you have a good education, but it doesn't necessarily ensure good leadership from your part. When it comes to leadership, experience is the best teacher, according to a large number of leadership scholars and trainers. Leaders need to learn from mistakes, be that of other people or themselves and learning from mistakes is often something that is connected with practical implications. Hence it can be conferred that although academic education is crucial in leadership development, the most important element is probably the experience.
Do Men and Women Lead Differently? Companies spend millions exploring new information about leadership styles and ways to foster successful leadership in the company, which has, over the time, brought forth a fundamental question - do men and women lead differently?
Leadership literature, which has been seeing a tremendous growth for about last half century (about the same duration of time that women have had started to assume leadership roles to a considerable extent) suggest that the answer to the aforementioned question is ‘it is complicated’. Women in high level leadership positions, such as corporate CEOs, tend to exhibit similar behavior as their male counterparts. However, that does not mean that the notion of gender difference in leadership is null, as the percentage of women who are in those high positions is barely scanty. According to Catalyst, a research firm who conduct studies on gender based issues, just 4.6% of Standard and Poor 500 CEOs and 4.8% of Fortune 500 CEOs are women. That being said, the idea of women behaving same as their male counterparts in leadership positions cannot be applied to all organizations and all levels of leadership. In fact, some researchers have argued that the same men and women exerting the same leadership qualities might spring from the fact that the demand for leadership roles require certain actions and behaviors to succeed. In addition, because of the hurdles that women must
overcome to get themselves to the top, it could be the case that only women who exhibit the same sorts of leadership styles and behaviors as male leaders make it through. Leadership and gender expert, Alice Eagly refers to this as the labyrinth that the women need to go through, but men do not. So, studying leaders in the top most position leaves implications that there is no big difference in how men and women lead. Women in leadership positions but not on the top most position in the company organogram seem to exhibit different leadership qualities. The difference is almost always in line with the gender stereotypes, e.g. female leaders are more nurturing, empathic and responsive than male leaders, with bit of negative trait of being moody. Male leaders, on the other hand, are perceived to be more action-oriented and more focused on tasks. As a Catalyst study concludes, ‘women leaders take care, men leaders take charge.’ Nonetheless, there is a growing body of literature that suggests that leadership styles and leadership potentials of men and women can be studied under different themes or leadership trends as well. The theory of transformational leadership is a revolutionary one that
has almost changed the definition of leadership and the expectations that come along with it. Companies in developed countries are not studying and promoting transformational leadership as there has been indications that the transformational model tend to work better. Transformational leaders are inspirational, positive role models, concerned about followers, empowering and push followers to be creative and take chances. Researches indicate that women, as a group, have more transformational qualities than men, as the later seems to exhibit more transactional leadership which translates into a give and take model. If women are more transformational, then it is not only safe but probably also fair to assume that women tend to lead more effectively than men. That brings us to the next phase of discussion, what are the implications of the claim and how can we utilize it to the best of our advantages. 97% of women and 79% of men believe that men and women focus their behavior differently as leaders. Women believe men lead by promoting themselves and their abilities and men believe women focus on seeing input from all
concerned sources and are found to be more emphatic and flexible and have stronger interpersonal skills than their male colleagues. That is good news for many of us who think it is important to achieve gender parity in work as well as any intellectual pursuit in life. As attitudes about women leaders change (albeit, very slowly), the labyrinth mentioned earlier in this article becomes less difficult to navigate and more women are expected to achieve higher leadership positions in their lives. Noted leadership scholar Bernard Bass predicted that for their high adaptability and transformational leadership styles, majority of high level leaders will be women by the year 2034. Time will decide whether this prediction is close or far from truth, but for now, we can confer that more men are realizing that transactional way of leading is not the most up-to-date or demanded style to execute in a company. Hence the wisest thing at this point is to forget about gender difference in leadership and try to attempt for the best – which is to take the bests of each perceived gender roles and come up with a model that is effective for any leader regardless of their sex, class or color.
How men and women lead differently: Female Leaders Interactive Participative Collaborate connectively Group problem solve Inductive in problem solving Define themselves by being relationally literate Prefer to be recognized Ascertains the exact needs of each team member Emphasize complex and multi-tasking activities Helps others express emotions Directly empathizes Cognizant of the specific needs of many at once Verbally encourages and praises Resolves emotional conflicts to reduce stress
Male Leaders Transactional Hierarchal Collaborate competitively Personality problem solve Deductive in problem solving Define themselves through accomplishment Ask to be recognized Cares more about larger structural needs Single task orientation and completion Downplay emotions Promotes independent resolution Cognizant of the needs of the organization Encourages less feeling and more action Denise emotional vulnerability to reduce stress
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According to Dulewicz and Higgs (2000), the combination of intellectual intelligence and emotional intelligence is a better barometer for success.
Intelligence and Leadership Questions have often been raised regarding how intelligence plays a role in leadership skills. There have been cases where even the most intelligent leaders have failed dismally which has lead to people concluding that high IQs alone are not sufficient for when recruiting for leadership positions. According to Dulewicz and Higgs (2000), the combination of intellectual intelligence and emotional intelligence is a better barometer for success. According to Challenger, Gray & Christmas (2006), CEOs are constantly moved from their positions. The rate is apparently a high 7.6 every business day.
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Additionally, more than 28% of these leaders had only been in these positions for less than three years. In all probability, these leaders were highly intelligent but questions have been raised about whether they lacked points in the emotional intelligence department. One often mentioned case is that of Jeffrey Skilling of Enron. Having taken charge of Enron from founder, Kenneth Lay; Skilling was transforming Enron into the largest wholesaler producer of Gas and Electricity with $27 billion worth of trade in just one quarter in 2014. However, his reign ended in bankruptcy, fraud and criminality. British Petroleum’s (BP)
Deepwater Horizon oil spill scandal also showed questionable leadership issues. CEO, Tony Hayward’s made matters worse with the disaster by failing to connect to people’s emotions. He was noted to have made the comment ‘I'd like my life back.’ While the disaster was ongoing, he was reportedly watching his yacht race (Lyons, 2011). Even though BP paid a $42.2 billion fine, the company’s image took a massive negative hit, and the CEO paid the ultimate price for failing to make the valuable connection to prevailing public emotions. These examples show how leaders and their failure to identify, assess and control
their own emotions can affect the role they’re supposed to be playing. Without having a proper grasp of what to do when these emotions engulf and entrap them, as well missing the ability to understand their audience’s emotions and to effectively manage relationships they are bound to fail. When making decisions in a speech and/or with actions, leaders should consider the consequences of their decisions, including the emotional impact these decisions will have on all involved parties.
LEADERSHIP IN SPORTS
/ Youth Icon
Commanding the Field Mashrafe Bin Mortaza
Captain, Bangladesh ODI & T20 National Cricket Team By Atif Azam
“Handling the pressure of any integral match is the toughest part of the job. Remaining calm even when the situation is not favourable is the key to being an exemplary captain.”
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Unless you are willing to give apply yourself completely, you will never reach your true potential in all facets of life.” A leader must accept losing certain battles in order to win the war. The quality of a leader is not defined by their desire to reap the benefits of their accomplishments; it relies on their endurance through the defeats, remaining optimistic with the vision of the ultimate victory. Though leadership entails many notable qualities, belief in one’s self and inspiration are the primary characteristics required of a leader. They must instill these qualities in their followers, building the mentality that they will never give up until their surmise. Leaders are not limited to the human race. They extend to the animal kingdom; the queens of a bee hive or the alpha male of a wolf pack are the most crucial component of their specie’s progress. Weathering the storm and navigating their team to victory is what creates the legacy of a leader; they are the kings and the emperors of their domains. There is often a lack of true leaders in many of these domains because a society often fails to cultivate the true potential of the youth. In the realm of international sports, Bangladesh is emerging in the field of cricket and Mashrafe Bin Mortaza is leading the way for the country’s recognition. Though he has faced a multitude of agonies and tribulations throughout his career, one of his most difficult moments
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came when he could not participate in the 2011 World Cup because of external matters. However, he has overcome the obstacles in his life and transformed the experience into mental strength. Mashrafe remains a force to reckon with. His zeal and energy create a sense of vigour and ecstasy for his countrymen. He has taken the reputation of the cricket team to heights that were thought of as unattainable. Seamlessly dominating the field, he makes the undertaking seem like the work of magic. During a recent meeting, Mashrafe elaborated on the aspects of being a leader and how his life experiences have shaped his ability to command the field. “A leader must be respected by his teammates. They must have the undoubted belief that their leader will stand with them through thick and thin. If his or her followers know this to be true, they will extend their abilities that extra mile required to achieve their goals,” states Mashrafe. Adding that the ability to handle pressure is what separates those who lead from those who follow. A pressure that Mashrafe understand extensively as the captain of the national team, explaining, “Handling the pressure of any integral match is the toughest part of the job. Remaining calm even when the situation is not favourable is the key to being an exemplary captain.” There is no room for raising one’s voice or losing patients because it creates a negative environment in his perspective. Recalling a number of
challenging occasions, he elaborates, “To be honest, putting up a brave face despite being down is very important because my emotional downfall can have an impact on the team’s morale. There are times when I forget to control my emotions but my teammates had understood my reasoning and intention for it.” Mashrafe emphasized the need to analyse the situation and not react in an inappropriate manner despite the burden of the challenge. He adds, “During these situation idiosyncrasy is essential. A true leader must understand each and every member of the team that he is responsible for.” Mashrafe believes that there will be a day when the team’s grit and determination will allow them to proudly hoist Bangladesh’s flag on the international cricket platform as one of the best teams in the world. “If we have the ability to show our potential in front of the world on one of the biggest stages surely our countrymen will have a similar kind of capability in their own respective areas. They can take up the challenge and meet the requirement to make their mark in any field that they are given a chance.” Mashrafe fervently dreams of a day when the progress of his nation and his team will resonate throughout the world. Leading his team throughout challenges on a global stage, he is the ideal example of how the resilience of a leader can allow his team to prosper. The writer is a Senior Correspondent in New Age.
SPECIAL / ICT Sector 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1REPORT 010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 An 0 1 0in-depth 1 0 1 0 1 0 1 0report 1 0 1 0 1 0looks 1 0 1 0 1into 010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 the 0 1 0 1possibilities 0 1 0 1 0 1 0 1 0 1 of 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10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001 10001000100010001000100010001000100010001000100010001000100010001000100010001000 10101010101010101010101010101010101010101010101010101010101010101010101010101010 10011001100110011001100110011001100110011001100110011001100110011001100110011001
Moving Forward Digitally
Source: AT Kearney Outsourcing Destination Rankings
Background of the ICT Industry in Bangladesh
B angalore is recognized as the Silicon Valley of India. It is the darling of western companies and is seen as the defacto destination for outsourcing from the most simple of office operations to the most complex of business processes. The city, however, wasn’t always known as a tech hub. It was a result of the vision of a top infrastructure development firm, Keonics in the late 1970s and subsequently the political leaders of India during its liberalization in the early 1990s. Today, Bangalore is known as the outsourcing capital of the world. During Bangalore’s initial stages as a outsourcing hub, business development worked a lot like a game of football, where Non-Resident Indians would act as the midfielders, integrating themselves with the tech elites by networking and bringing in work for their partners in India – the strikers; these were IT professionals who were picked from the country’s top engineering schools such as the Indian Institute of Technology (IIT), commanding cheap rates but nonetheless offering dedicated and skilled labor. The rest, as they say, is history. Today, in 2016, the small delta of Bangladesh, housing the world’s 8th largest population needs to develop these midfielders and strikers and get on its way to becoming the next India of outsourcing. Bangladesh needs more institutes similar to IIT so that those outsourcing work to Bangladesh don’t have to be afraid of not finding the right talent. With the right set of structured actions, Bangladesh can leapfrog into the domain of IT/ITES outsourcing heavyweight by leveraging its inherent advantages.
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Bangladesh′s ICT industry has been developing slowly over the past three decades, culminating hundreds of millions of dollars of value addition every year. In fact, Bangladesh is now considered to be the next high prospect destination in the segment, with accolades from AT Kearney, Gartner, Goldman Sachs and a host of others.
Bangladesh’s ICT industry has been developing slowly over the past three decades, culminating hundreds of millions of dollars of value addition every year. In fact, Bangladesh is now considered to be the next high prospect destination in the segment, with accolades from AT Kearney, Gartner, Goldman Sachs and a host of others. The industry has seen strong growth over recent years, characterized by local demand as well as global exports. The total earnings of the industry in FY 2014 were $600 million, out of which exports amounted to $132.5 million. Because the ICT industry encompasses technology, it is fast changing with fluid categories that often merge into each other. Industry segmentation has been designed keeping this in mind. The ICT industry can be divided into two broad categories; IT and ITES. IT services can be broken down into Application Services (that include systems integration, IT infrastructure and consulting) and Engineering Services (including hardware and software development and testing).
The ITES category on the other hand can be categorized into Horizontal Process Outsourcing (including call centers and business process management such as HR and Supply Chain functions), Vertical Process Outsourcing (including banking, manufacturing, telecom, pharmaceutical), Knowledge Process Outsourcing (including business research, animation, data analytics, other specialized processes) and lastly, the latest entry into the segment, Automation Services (including task automation and Business Process as a Service; BPaaS). The 1,500 IT/ITES companies currently registered in Bangladesh, are involved in most of the mentioned verticals of the ICT value chain, ranging from customized application development and maintenance, to BPO services throughout the value chain. Local demand has largely been driven by banking, telecom, pharmaceutics, RMG and Textile sectors, which has also built up capacity in the sector to export services. The ITES segment in Bangladesh covers the entire gamut of operations which exploit IT for improving the efficiency of an organization, driving revenue growth and increasing profitability. This in turn can be broken down into horizontal, vertical and knowledge process outsourcing (categorized broadly as BPO).
ICT Industry
IT
ITES
Application Services
Horizontal Process Outsourcing
Engineering Services
Vertical Process Outsourcing
SHARE IN TOTAL ICT SECTOR
55.00%
17.00% 12.50%
Web Services
4.50%
3.02%
1.51%
Product Testing
System Integration
Consulting
5.00%
1.00%
0.47%
R&D Services BPO & Non Customized Mobile Technical ITES Software Applications Development
The ITES category consists of specialized services that rely on technology for delivery. This includes voice services, data processing and animation among others. This represents a major portion of Bangladesh’s ICT market exports, standing at 17%. The IT segment, on the other hand, includes services that require extensive technical expertise to accomplish. These include services that offer Platform as a Service (PAAS), Software as a Service (SAAS) models to help businesses reach their goals. Furthermore, technology consulting, product design, infrastructure development, systems integrations, and ERPs are all examples of technical IT Services. Software development, on the other hand, is another part of the IT services segment. It falls under the engineering services section of IT
Software Services
Services and is extensively sought after by international firms looking to outsource this facet of their operations abroad. This segment has opportunities ranging from platform and software development to testing to specialized software design and beyond. It is the driver of digital growth around the world and world-class expertise in this field are always sought. Bangladeshi companies have been outsourcing these services for a while now and have recently been joined by freelancers from across the country, sourcing work from online platforms like Elance and Freelancer on their own. However, the integrated and multidimensional nature of the software development arena requires the support of teams, with multiple capabilities, that can only be found in firms.
$ 600 Million +
ICT SECTOR –AT A GLANCE $ 132.5 Million +
250,000 +
Knowledge Process Outsourcing
450 + Automation Services
Companies
People
Export
Total Value
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ICT Industry Fundamentals: The Numbers, Past, Present and Future
The ICT industry in Bangladesh has grown comprises of 250,000 people working in over 1,500 companies, generating revenues near $500 million. On top of this are the legions of freelancers registered in platforms like Upwork and Elance who have gained a reputation for providing quality service at affordable costs; albeit in the lower tier categories. The fundamentals of the industry are summed up in the diagram below. These fundamentals have been backed by coherent and supportive government policies, pushes from the industry itself and the guidance of associations like BASIS. Being an industry with a global outlook, total exports are crucial to the long term viability of the ICT sector. The sector currently brings in a paltry $132.5 million, which is dwarfed by the billions earned by the top exporting sectors. However, there is scope for enormous expansion, driven by the insatiable demand from developed and developing countries alike as all facets of life and business move into the digital realm, taking with it the demand for digitization, automation and economization of IT. Currently, the USA, UK, Canada and Australia are the top outsourcing destinations for Bangladesh.
The sector currently brings in a paltry $132.5 million, which is dwarfed by the billions earned by the top exporting sectors. However, there is scope for enormous expansion, driven by the insatiable demand from developed and developing countries alike
Main Export Destinations
63.5%
(% of BASIS Member Countries that Export)
38.7% 23.5% 22.7% 13.5% 11.3% 9.2% 8.8% 8.8% 8.4%
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POTENTIAL EXPORTS $ 1 bn+
TOTAL ICT INDUSTRY $ 600 mn
CURRENT EXPORTS $ 132.5 mn
The Dream
The Government of Bangladesh has set a target of $1 billion export earnings by 2018 from the sector. The scenario is depicted below. Bangladesh has to think big and think different in order to achieve this mammoth feat. Current growth rate forecasts show exports to be $490 million by 2018 - less than half of the targeted amount. As with all things technological, there is a way. However, it will require everyone, from the freelancers working from their homes to the policy makers at the very top, to completely disrupt their operating model.
The Game
Bangladesh has to overhaul its ICT outsourcing efforts with combined efforts from the government, private sector, Non Resident Bangladeshis, and the entire gamut of institutions that the sector encompasses. Broadly speaking, the problems of the sector can be categorized into three areas. Focus Area
Problem
Action Points Training to improve communications skills, availability of free Bangla to English communications courses and widespread awareness on proper communication etiquette would be a turning point for the workforce.
HR
Even though a large number of IT graduates enter the workforce every year, they lack the communication skills that would propel Bangladesh into the next level. Combined with this, they often lack some of the practical problem solving skills that are required at the upper rungs of the IT/ITES industry. The problem of awareness in the industry is two pronged, having both demand and supply side aspects.
Awareness
Infrastructure
Regarding demand servicing, Bangladesh currently does not have a holistic and encompassing brand that in the ICT space. On the supply front, a world of opportunities still lurks in the freelancing space, where every educated Bangladeshi can turn himself into a freelancer and bring in outsourcing revenue into the country. Bangladesh has strong infrastructure set up with affordable high speed internet, fast improving electricity setup and emerging global recognition in the ICT space. But financing is still a problem and keeps high potential firms from starting up.
Finally, IT graduates need to be brought up to date with practical knowledge on problem solving across the ICT value chain to make them conversant and able to take on any challenge thrown at them. Demand Side: India, China and the Philippines are gradually moving into more scalable BPaaS and Robotic process outsourcing markets, leaving the door open for Bangladesh to come in. Once Bangladesh gains a footing in that market, it can use the built up capacity to look into the of $1 trillion market for both ITES and IT services that is increasingly moving to more automated, scalable and standardized models. Basically, build up cheap capacity to be the volume player to take the place of the giants as they move onto more automation Supply Side: Conduct countrywide awareness campaigns to make people aware of the possibilities in online platforms like Elance and Upwork and allow them to utilize free time in traffic jams or between work hours to earn extra income. This can help build Bangladesh's already dashing profile in the freelancing arena and to spruce up the ICT sector in the process. To improve financing in the sector, an ICT sector specialized SME stock exchange is in the offing. This will enable small firms to raise capital and get on their way. On top of this, the private equity environment has to be developed with regulatory recognition and entry of SME investors into the fray. This is what has propelled many countries into ICT outsourcing limelight and is urgently required by Bangladesh as well.
Time to Get a Move On
At $132.5 million, exports of the ICT industry have a long way to go. But the essentials such as government will, private sector capability, talent availability and enabling infrastructure are already in place. Now, with the right set of structured actions, Bangladesh can leapfrog into the domain of IT/ITES outsourcing heavyweight by leveraging its inherent advantages. A much more detailed report titled ''The ICT Sector of Bangladesh: The Road to a Billion'' is being formulated by LightCastle Partners to give policy makers, private sector players and development organizations a sense of the underlying features of the industry and how to ride the wave as the government aims for a Billion US Dollars of value from the sector by 2018. www.icebusinesstimes.net
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REPORT
/ UNDP
Shaping the Future: Regional Human Development Report by the UNDP TAKING ADVANTAGE OF DEMOGRAPHIC DIVIDENDS By IBT Report he world is observing demographic shifts in Asia and the Pacific like never before. A sharp increase in working age group populations and falls in birth rates (which took a century in Europe) are occurring here in just 30 years according to the United Nations Development Programme (UNDP) in its latest Regional Human Development Report release this year. The report titled, “Shaping the Future: How Changing Demographics Can Power Human Development,” highlights that Asia-Pacific countries are currently on a spring board for growth as they more working-aged people and fewer dependants than at any point in history. It
Asia-Pacific 2015
Male Female
8
10
6
4
2
0
2
4
95+ 90-94 85-89 80-84 75-79 70-74 95-69 60-64 55-59 50-54 45-49 40-44 35-39 30-34 25-26 20-24 15-19 10-14 5-9 0-4
6
8
10
6
4
2
0
2
4
6
8
8
6
4
2
0
2
4
6
8
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on fiscal management. Therefore, countries like Bangladesh need robust policies in place to best utilize the demographic dividends and prepare for the challenges which will pop up in the future. According to the report, 105 million people in Bangladesh are between the ages of 15 and 64 years in its 160 million population. Furthermore, this age-group would increase to 130 million by 2030. 11 million people are aged above 60 years but this number would rise to 22 million by 2030 and 44 million by 2050 The report goes on to state that Bangladesh needs to create 25 million jobs between 2016 and 2030, which means 1.6 million new
Asia-Pacific 2050 Male Female
95+ 90-94 85-89 80-84 75-79 70-74 95-69 60-64 55-59 50-54 45-49 40-44 35-39 30-34 25-26 20-24 15-19 10-14 5-9 0-4
10
Male Female
10
Asia-Pacific 1950 95+ 90-94 85-89 80-84 75-79 70-74 95-69 60-64 55-59 50-54 45-49 40-44 35-39 30-34 25-26 20-24 15-19 10-14 5-9 0-4
8
T
is estimated that 68% of the people are working aged and only 32% are classified as dependents. “The window of opportunity to increase productivity, invest in growth and save for the future is between now and 2050,” said Haoliang Xu, UN Assistant Secretary-General and UNDP Director for Asia and the Pacific. “If countries in Asia-Pacific do not create optimal employment conditions, the regional economy will begin to slow down by 2050 as the current working-age population begins to retire.” The report also outlines how after 2030, the share of aged population would rise which would eventually put pressures
BIllions
7 6 5 4 3 2 1 0 1950
1975
Asia-Pacic
Africa
2000
Europe Latin America & the Caribbean
2100
2075
2050
2025
North America
Share of working-age population Share of population aged 15-64 (%)
70 65 60 55 50 45 1950
1975 Asia-Pacic
Africa
2000
Europe Latin America & the Caribbean
2100
2075
2050
2025
North America
2080
Advanced
Ongoing
Democratic People’s Republic of Korea Malaysia Myanmar Indonesia Bangladesh Bhutan Iran (Islamic Republic of) Maldives India Nepal Cambodia Lao People’s Democratic Republic Vanuatu Micronesia (Federated States of) Philippines
The period in which the share of the working-age population is rising
Japan New Zealand Sri Lanka Hong Kong, China (SAR) Macao, China (SAR) Mongolia Singapore Thailand Fiji Australia China Republic of Korea Brunei Darussalam Viet Nam Taiwan Province of China
Nascent
2060 2040 2020 2000 1980 1960 1940
Reached Peak by 2015
Reaching peak by 2016 to 2060
Papua New Guinea Solomon Islands Samoa Tonga Afghanistan Pakistan Kiribati Timor-Leste
jobs per year. The UNDP report also mentioned that only 55% of the working age women are involved in the job market, a number which needs to be increased drastically. Urban population in Bangladesh now stands at 55 million and it is likely that this figure will rise to 83.2 million by 2030 and 112.4 million by 2050. Share of urban population would increase from the current 34% to 45% and 56% by 2030 and 2050, respectively. Furthermore the poor state of education, declining agricultural productivity, low incomes from farming and environmental factors drive rural people towards the cities, which, however, do no not necessarily provide better living conditions. Economist, Prof. Wahiduddin Mahmud expressed concern over the unplanned urbanization of the capital, Dhaka and said it was densely populated without adequate amenities. He suggested higher resource allocation for quality education and health. The report was release in Dhaka on the 26th April, 2016 at a program where Mashiur Rahman, Economic Affairs Adviser to the Prime Minister of Bangladesh, Haoliang Xu, director of the UNDP Regional Bureau for Asia and Pacific, Robert Watkins, UN resident coordinator in Bangladesh, Pauline Tamesis, country director of UNDP Bangladesh, also spoke.
World distribution of working-age population
Source: UNDP
According to the report, 105 million people in Bangladesh are between the ages of 15 and 64 years in its 160 million population. Furthermore, this age-group would increase to 130 million by 2030. 11 million people are aged above 60 years but this number would rise to 22 million by 2030 and 44 million by 2050.
Reaching peak after 2060
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LEADING ENTREPRENEUR
/ Perfume Business
“The most integral component of any business is to have cooperation between the government and businessmen� Mr. Mahtabur Rahman (Nasir) Chairman & Managing Director Al Haramain Group
52
Quaerasi, who suggested that he start with a store and staff Sauda Arabians. We were a registered company by 1970 and my brother and I are proudly following in our father’s footsteps. Mr. Mohammed Mahtabur Rahman (Nasir) is the Chairman & Managing Director of Al Haramain Group of Companies. He has been ranked as a Commercially Important Person (CIP) by the Government of Bangladesh for three consecutive years from 2012 to 2014. Mahtab is the two time recipient of the Bangladesh Bank Award for garnering the highest remittance into the country in 2013 and 2014. He has and received an Honorary Doctoral Degree of Philosophy in World Peace and Morality in Business Administration from the International University of Morality.
How do you maintain constant success? Maintaining a successful business involves dedication and innovation. We started this business with incense wood and it has expanded to other lucrative lines of perfumes. There was a high demand for incense but with the times we noticed that this market had changed; it was integral for us to stay true to that change in order to keep the market that we have.
Your family has been in the incense wood industry for generations. Could you elaborate upon the history of your company? It started with my father’s annual pilgrimage to Mecca. Upon several excursions, he noticed the demand for incense wood and realized that it would grow quite abundantly in our home town, Sylhet. He then started selling it to incense stores during every trip he had taken. My father would sell to Al
What are some of the challenges you have faced as a Bangladeshi in a foreign business market?
Given the exuberant prices of incense wood, how have you flourished into a profitable business?
Many countries must realize that in order for development of business, foreign investment is an integral component. Some assume that given the lower cost of production and manual labor, a Bangladeshi investor will try to conduct foreign business in order to reap the benefits of a large loan with no intention of repaying it. Furthermore, we are also demanding a separate EPZ (Export Processing Zone) for the NRBS where productions and benefits will be exclusive. We should have the liberty to send any proper documentation through the internet because this makes the transactions of any business much more efficient. This efficiency invites honest business for the overall benefit of the nation and the investors.
In the Middle East, you will see numerous businesses that sell incense wood, however no one has thought of producing it in a large scale production.
Your businesses are located outside of Bangladesh but you have done extensive work and CSR for the
What are some of the advantages of having an international business?
Q
Additionally, the countries that produced incense wood such as Cambodia, Indonesia and Vietnam have reduced their production with the decrease in demand. We decided to build the first large scale factory in UAE for the production and processing of the wood. Our factory is 177,000 square feet with a staff of 3,000. This makes the production of incense wood cheaper to a certain scale.
The most integral component of any business is to have cooperation between the government and businessmen. We must learn to cooperate in order for the overall benefit of the economy. Business will relocate to areas that play to their advantage. This is why we have relocated to Dubai in 1981, where we have set up a large scale factory.
country. What propels you to do such acts? The factory that we have opened has a staff that consist of 65% Bengali nationals. In addition, 60% of our complete staff of 5,000 are Bangladeshi. This is because I would like for the people of our nation to progress in different businesses throughout the world. We have a great deal of manpower and potential which is not being utilized to its fullest extent. If we contribute some of our success to our country, we can see it flourish. Sylhet is the starting point of my father’s company. I would like to give back to the area that has brought us so much success. The cancer hospital that we have created there will establish new job and better treatment which are two important factors for the growth of any area.
What is the current status of your company? We currently export around 300 different products that range from perfumes to cosmetics products from two factories located in the UAE and France. We have set up business in over 100 countries with 550 distributors in Asia, Africa, Europe and the USA.
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TRAVEL
/ Thailand
Touring Thailand C
CONSISTING OF 1,430 ISLANDS, THAILAND IS EXPECTED TO HAVE MORE THAN 16 MILLION INTERNATIONAL ARRIVALS THIS YEAR. IT IS CURRENTLY THE MOST VISITED TOURIST HUB WITH NO SHORTAGE OF ACTIVITIES.
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onsisting of 1,430 islands, Thailand is expected to have more than 16 million international arrivals this year. It is currently the most visited tourist hub with no shortage of activities from those who love the hustle and bustle of a metropolitan city to those who seek the serenity and magnificence of calm oceans, sandy beaches and tropical jungles. Starting on a high point, the Doi Inthanon is the highest mountain in Thailand. In 1954, the Doi Inthanon National Park was created; the park features lowlands and a number of animal species which includes 360 types of birds. From crisp air of the mountain range, prepare to hover through the Damnoen Floating Market. An hour drive from the Bangkok, the market features great opportunities for shopping and vendors who sell the real taste of Thai cuisine. Bangkok is an ever-growing hub and the Grand Palace complex built for the new
capital is a city within the capital which compromises of residential areas for royalty and government offices. There are a number of buildings with exquisite works of arts and architecture. You can interact with the royal commander of the jungle, the tiger at the Tiger Kingdom in Chiang Mai. The Tiger Kingdom allows you to interact with cubs as well as adult tigers that have been born into captivity. Following a day of activity, take the time to bask in sun at Koh Lanta, an island with 500 meters of pristine beaches. Unlike the commercial beaches, Koh Lanta features crystal clear waters and water activities such as snorkelling. Further escape the modern Remain Connected Always Robi’s International Roaming service now offers unlimited data, local calls and SMS with their bundle packages especially for people travelling to destinations like Thailand.
societies with a visit to the Long Neck Tribe Villages. A short drive away from Chiang Rai, it includes a number of tribes including the Long Neck people. With a ticket purchase, one can meet and interact with the locals of the area. The Chang Rai White Temple is a striking temple with the architecture creating a space which helps represent the pure nature of Buddha. Immerse yourself in the nightlife of Thailand at the Moon Bar located on the roof on the Banyan Tree; you can dance the night away while you watch the sunset over the city. Relieve the stress and tension of a night out with one the traditional Thai massages at Divana Spa. From the modern centre to the ancient capital, Sukhothai Historical Park is the first capital of the Siam Kingdom. Considered a UNSECO World Heritage Site, the park features a number of venerable temples that can be explored by cycling, car or walking tours.
ADVERTORIAL
/ GP Music
GPAnMusic App that
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rameenphone, one of the leading telecommunication companies of Bangladesh, hoped to change the face of Bangladeshi music with a single app. With GP Music, users can stream music online and offline; they can also sample old and new music from local and international artists and labels. There has already been a campaign held on the Independence Day titled, “Shadhinotar Shure”. As expected, the campaign was a huge success. The campaign also helped familiarize a lot of people with major historical facts associated with the Shadin Bangla Betar Kendra. The GP Music app will help bridge the gap between musicians and music lovers and make music a more intimate and personal
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Delivers
The app is available on both Android and Apple platforms. The website can be accessed through: www. gpmusic.co experience than it already is. Another extremely successful campaign was the one held on the occasion of the Bengali New Year. “Boishakhi Beats”, as the campaign was called, was the platform through which 7 new albums by popular stars, and 11 new solo songs—were all introduced as part of heralding in the Bengali New Year. Through the GP Music app, listeners could stream the latest tracks—all thanks to big music labels like G-Series and Sangeeta, as well as artistes such as Tahsan and bands such as Old School. The app will not only have the biggest digital library of music, but it will also give due respect to local songs, artists and labels. Just the launch program proves how significant an impact this app stands to make as some of the greatest names in the Bangladeshi music scene were present at the launch event. The project is headed by Grameenphone’s Head of Digital Services Muntasir Muhammad Hossain. If it is successful in its endeavors, Grameenphone will be the first Bangladeshi telecommunications company that will bridge the gap between listeners and makers of music. Let us hope that GP Music can keep changing the face of music like it has set out to.
NEUROSCIENCE OF LEADERSHIP
/ Interview
Ayesha Jahan Bibha
Thought Leader & Neuroscience of Leadership Licensed Practitioner EnHansen Performance Pty Ltd
Organisations led by innovative leaders are highly eager to invest in people. They really want to create a high performance, agile, resilient and innovative culture 58
Ayesha Jahan Bibha is a Thought Leader and Neuroscience of Leadership Licensed Practitioner at EnHansen Performance Pty Ltd. She facilitates to transform the habit for leading success through speaking, training and executive coaching. Ayesha is a Neuroscience of Leadership Licensed Practitioner, iNLP Certified, skilled assessor on REDS Leadership Assessment Methodology, DiSC Assessment, EQ Self Assessment, Self-Resilient Assessment, and ORCE Behavior Assessment. She is also the sole proprietor for ayeshabibha.com from May 2015. She has 10 years of professional experience in the fields learning and development, corporate training, consultancy, teaching and corporate field. She has facilitated around 1600 participants including youth to top team of good to great companies from Bangladesh, Malaysia, Sri Lanka, Uganda, Pakistan, Sweden, Turkey and Australia. Her facilitation areas includes – Leading Self & Others Workshop, Advanced Corporate Communication Skill, Presentation Skill, Team at Excellence Program, Basic Leadership, Manage Self & Others, Train The Trainer (TTT), NLP Practitioner Program, Coaching and Mentoring Program, Assessment Center and Development Center, Vision-Mission-Value On Boarding Program, Goal and KPI session Setting etc.
Q
You have facilitated a great number of participants from multinational companies. What were the challenges in bringing such a large group together? How is the diversity of the companies a productive platform?
Organisations led by innovative leaders are highly eager to invest in people. They really want to create a high performance, agile, resilient and innovative culture. However, the challenge lies in how quickly they can achieve this. Two key words are diversity and productivity. They matter both internally and externally for an organization. It influences the customers, suppliers, vendors and other stakeholders. Globalisation, generation gap, economic advantages, immigration opportunities, highly changed lifestyles etc. are all pushing diversity practices at a higher pace today. Healthy diversity practices are crucial regardless of their complexities. We all know that the number one challenge of today’s business is creativity. And a diverse practice literally can bring increased creativity, new attitudes, new language skills, better global understandings, new processes and solutions to difficult problems.
You were a research fellow of the Australian Academy of Business Leadership. How is research an essential component for leadership? AABL is an academic research platform but to me, it as a platform of exchanging intelligence among deeper thinkers from different countries. We commonly believe that research is mostly based on theoretical practices and its analysis from different perspectives. Additionally, research can create the base for further development of organisational practices which is very important for them to understand. Accompanied with good to great organisational practices, these tools generate greater insight and help develop cognitive thinking.
How has your international experiences allowed you to train participants of various demographics? I look for the commons rather than looking
for the differences, especially when I am talking about interacting/communicating/delivering to people. People from various demographics have different cultures, different practices or different ways of expression. However, they all feel in the same way. These feelings, emotions, empathy are happening within us unconsciously but constantly. Once you can reach that, you automatically can make rich communications. My previous practice on NLP (Neurolinguistic Programming) and my present passion on Neuroleadership (Neuroscience of Leadership and Performance) are making my belief stronger.
What is the importance of multiple assessments when it comes to leadership training and proficiency? Currently it is known as the VUCA (Volatility, Uncertainty, Complexity and Ambiguity) world and it is the field where today’s leaders are playing. Different assessments can help leaders recognise their present state of leadership quality based on past behaviours. This is important to know the previous gap but they must not focus on this. Leaders need to focus on the future, on new ways, in more creative manners – this is the space where neuroscience is serving.
Imaging technologies such as Functional Magnetic Resonance Imaging (fMRI) and Positron Emission Tomography (PET), along with brain wave analysis technologies such as Quantitative Electroencephalography (QEEG), have revealed hitherto unseen neural
connections in the living human brain. How have these applications progressed the understanding of creating a better leaders in terms of programming the brain? Traditionally, our practice of leadership was more about studying their behaviours. Technological advancement in neuroscience finds that the human brain’s process is much wider through subconscious inputs. The truth is we can’t think about what we are thinking when we are not aware of the thinking process. This is where technologies like fMRI, EEG and biometrics are creating a huge difference by integrating human behaviour with the functions of the human brain and the unconscious influences of emotions.
Neuroscience has identified Positive Emotional Attractor (PEA) as the key to successful leadership. Can you elaborate upon the necessity for this idea? Neuroscience research is showing that to get sustained changes, leaders need to be coached about PEA first. When the leaders are following up, they need to be coached with the PEA 3-6 times more, than the Negative Emotional Attractors (NEA). That is how a leader can create a focus on new changes to make it sustainable. The more the focus, the more the physiological arousal, as well as the hard-wiring of the neural networks. That is the key to develop new habits. Through this dynamics of emotional contagion (PEA vs NEA), we can help an individual’s vision become a shared vision among two or more people. www.icebusinesstimes.net
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TECH
/ Microsoft-Linux
The Microsoft Linux Oxymoron
Radical development with a potentially seismic impact
Yes, you read the title right, as bizarre and unlikely as it may sound. I should just take a second to clarify one thing, though – Microsoft is not making a Linux distribution of its own. But what it is doing is not too far from it, and it can mean huge things for the global software development front. For the uninitiated, Linux is a tremendously powerful operating system (OS) for computers that is available to users in a myriad of flavors (called distributions), free of charge. Linux was created as a free and open source derivative of the mighty UNIX operating system, allowing people to harness the powers of UNIX on their personal computers and servers. If you are wondering why you don’t see this great new OS around you, guess what? You do, perhaps on a daily basis. A vast majority of the servers that constitute the internet run on some derivative of the Linux operating system. And furthermore, the Android operating system for mobile devices -- currently the world’s most widely used operating system -- is powered by Linux at its core. And that is one of the most fantastic features of Linux -- due to its open nature; anyone with adequate programming knowledge can build their
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own Linux distribution according to their needs and preferences, creating new distributions of Linux that would work exactly the way they want them to. But let’s not get derailed from the main topic. Microsoft, the tech giant known for creating the Windows operating system, changing the face of desktop computing forever and making computers accessible to the masses, has now woven the core components of Ubuntu (the world’s most popular Linux distribution) into the code of Windows 10, in collaboration with Canonical, the developers and maintainers of Ubuntu. While this may not sound like much, many a computer guru would consider such a union blasphemous due to the open source code of Linux being married to Microsoft’s closed code. But sentimental aspects put aside, this is a fascinating feat of technology with a potentially far-reaching impact. For starters, Windows and Linux have very different architectures, and to make them work seamlessly without the use of virtualization technology would mean deep-level integration of Linux’s native code within Windows’s programming. Since the Linux code will be running natively in the Windows environment, it would allow Windows users to reap the benefits of Linux without requiring a separate installation of Linux or even Mac OS X, the latter of which is prohibitively expensive due to its official dependence on Apple hardware. The addition of Linux to Windows is especially lucrative for programmers and web administrators, who are often tied to Linux for development and troubleshooting purposes, since this addition to Windows would allow them access to the Linux environment straight from the comfort of their Windows workstation. Developers can take advantage of the Ubuntu
ecosystem within Windows to develop server applications for various purposes with greater ease. With the ability to make use of powerful tools such as Linux’s native Bash command line interface, hardcore Linux users have no need to hold back, and can use the features of the operating system to the fullest through all the tools at their disposal. The Linux component integrated into Windows is a complete Ubuntu image, which is lightning-fast and extremely lightweight, taking full advantage of Windows’s 64-bit modern architecture to run its own binaries at maximum efficiency. The storage devices under Windows are mounted and readily accessible through the Linux aspect of the system without any additional fiddling. Things get even more fun when you realize that with the native integration of Linux, comes the ability to run a slew of Linux-exclusive apps without requiring any form of conversion or recompilation. Early users have even managed to install Linux’s desktop environments on Windows, such as Unity, KDE and xfce, expanding its functionality in the process. What’s more, installing Linux applications is easy as pie on the Bash shell, because the apt-get command is available in all its glory. The Linux integration of Windows is still undergoing heavy development, but it is expected to be present in its completed and user-ready form in the next major update of Windows 10, due to show up later this year. While this may not mean a great deal to the average user, this is very much likely to change a lot of things on the developer side of things, creating new avenues of development and synergy across platforms which were once thought to be impossible to bridge.
SPECIAL FEATURE
/ CMSMEs
Role of CMSMEs in the Economic Growth of Bangladesh
By Dr. Mohammed Haider Ali Miah
ottage, Micro, Small and medium enterprises (CMSMEs) occupy unique position in most of the developing countries like Bangladesh. Bangladesh maintained its upward strides in economic growth duly manifested by positive developments of the major macro-economic indicators. GDP growth was 6.43% during last financial year even in serious political unstable situation. The national savings and investment reached 29.20 and 24.30% of GDP. Per capita GDP and GNI also increased substantially. After all, Cottage, Micro, Small and medium enterprises, comprise virtually all (about 99%) of all business enterprises outside agriculture in Bangladesh. Large enterprises account for only 1% of the said enterprises. The government launched a strategy of industrialization focused on the manufacturing sector. Industries (manufacturing) sector expanded at an average rate of 6.44% per annum throughout the last year. The growth of CMSMEs in a number of industries, particularly in the field of plastic, food, footwear, rubber products, chemicals, job printing and certain categories of metal based products. Plastic industry has not only succeeded in substituting imports but has also been able to penetrate the export market in specific range of products such as drums and bulk containers etc. The industry has also been producing items that are
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The growth of CMSMEs has been the trend in domestic demand. On the other hand, CMSMEs in dominant manufacturing industries such as grain milling seem to have stagnated due to relatively low income elasticity of demand for these products.
considered deemed export, e.g. accessories for the garments industry etc. Similar export successes have also been achieved by imported metal based engineering product industries. Thus, export of engineering products has experienced nearly 27% annual growth during the last 10 years, with production carried out by enterprises belonging to the CMSME sector. Easy import of components has also facilitated the rapid growth of a wide variety of footwear products in the country. Similarly, lower cost of imported paper and ink has helped commercial job printing to grow rapidly. Import of packaging materials at lower cost has contributed to the growth of other food industry. Rubber products and other chemical products also seem to have benefited from easier access to raw materials due to trade liberalization. Pilferage from the export oriented garments factories of fabric imported duty free also adversely affected the CMSMEs in weaving. The growth of CMSMEs has been the trend in domestic demand. On the other hand, CMSMEs in dominant manufacturing industries such as grain milling seem to have stagnated due to relatively low income elasticity of demand for these products.
Global importance of CMSME: Dr. Mohammed Haider Ali Miah
Managing Director & CEO Export-Import Bank of Bangladesh Ltd.
Globally CMSME plays a vital role in transition of economic development of any country by following: • Creating scope of employment • Technological innovation
• Greater resource use efficiency • Promoting inter-sectroral linkage • Raising export • Developing entrepreneur skills Globally CMSMEs play very important role in all economies. In developed economies CMSMEs are working as the feeder vessels or a support to the large corporate. In developing economies, it works as the engine to ultimately create large corporate. In the UK, CMSME lending is at its highest level since 2008. Currently it is recognized that the UK economy can only be flourished it CMSMEs are given the backing to succeed. Contribution of the CMSMEs of some selected courtiers shows that it has provided very significant portion of GDP and employment in their national economy: Country
Bangladesh India Pakistan China Japan Hong Kong
CMSME as % of all enterprises
80.00 97.60 60.00 99.00 99.70 -
CMSME Banking in Bangladesh:
Aspects National Gross Domestic Product Gross manufacturing output Industrial jobs Total labor force Total export earning Percent of business
Role of CMSMEs 25% 40% 85% 25% 89% Over 95%
Bank category NCB Specialized Banks Foreign Bank PCB NBFIs Total
NBFIs, 3,571.94
FIG IN CRORE TAKA
Total investment 84,039.99 31,213.60
SME investment 15,445.43 9,269.00
% of SME 18.38% 29.70%
% within SME segment 13.32% 7.99%
23,853.26 315,328.57 31,449.30 485,884.62
2,264.08 85,333.22 3,571.94 115,884.87
9.50% 27.06% 11.36% 23.85%
1.95% 73.65% 3.09% 100%
NCB, 15,445.43 Specialized Banks, 9,269.00
(SME investment of Banks and NBFIs)
Foreign Bank, 2,264.08
20-25% 80% 15% 60% 69.50% -
NBFIs 3%
NCB 13%
Specialized Banks 8%
Foreign Bank 2% PCB 74%
PCB, 85,333.22
Contribution of CMSMEs to GDP %
Though Bangladesh is an agricultural based country (85% people are living in villages). The CMSME has been termed as the ‘engine’ of economic growth. CMSMEs are not only concentrating on low tech, low cost technologies rather they are focusing on non-traditional manufacturing and service sector as well. Due to Government policy and Bangladesh Bank support Bank is playing a significant role even there is a scope to contribute more for sustainable development of CMSMEs and ultimately economy of the country. Contribution of CMSME in development of Bangladesh economy are as under:
SME investment of Banks and NBFIs:
Contribution of CMSMEs to Employment %
40% 80% 92% 72% 61.50%
SME investment of Banks and NBFIs:
Reasons for increasing CMSME Banking: • Employment generation • Diversification of revenue • Diversification of credit risk • Opportunity of cross sale a range of products • Good for the Economic growth of the community • High profit margin • Incentive from Central Bank • Moral satisfaction for helping towards reduction of social indiscriminity
CMSME Sub-Sectors
(i) Agro-process, agro-based and agro-supportive industries; (ii) Handicraft: braided rug of jute & cotton etc.; (iii) artificial flower making, etc.; (iv) computer software and ICT; (v) microelectronics; (vi) food processing and food staffs; (vii) floriculture; (viii) gift items; (ix) poultry and cattle; (x) jute goods; (xi) electrical appliances, (xii) leather and leather goods; pottery; (xiii) light
engineering; (ivx) staffed toys; (xv) RMG, knitwear etc.; (xvi) aquaculture; (xvii) automobiles; (xviii) horticulture and (xix) medicinal plants culture; pharmaceutical etc. EXIM Bank is a 3rd generation private commercial bank, started its operation in 3rd August 1999 with the passage of time and spiritual commitment of the Directors the bank has converted into full-fledged Shariah Based Islami Bank on 1st July 2004 with its 26 branches taking all regulatory permission. EXIM Bank plays a vital role to the sustainable economic development by providing overall service with the coordination of modern technologies and expert management in the CMSME investment, considering the CMSME sector as the centre of economic development. EXIM Bank is contributing to economic progress that is contributing a lot to create employment opportunity for mass of unemployed people by investing small and medium industry, trading and service sector. In this case, Bank is committed to create quality CMSME customers and bring up them through equal management besides providing utmost importance to acquire quality assets. The importance of small and medium industry is indispensable for economic progression of any country. Moreover, considering span of economy of our
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country in respect of industry and trading, this sector is working as the undulating power of economic development as major portion of industry and trading organization are under this sector. Strategy of CMSME Financing: • Improvement of Bank asset quality through enhancement of CMSME financing • Careful penetration in the CMSME financing segment • Diversify CMSME business to take advantage of wide network • Strengthen risk management for reducing risks of CMSME financing • Extension of Banks operation activities towards CSR CMSME policies, procedures and purposes: • Providing working capital both for trading and manufacturing concern • Purchasing capital machineries for manufacturing concern and establishment of small industries and different service oriented concern • Purchasing delivery van/transport for business purpose. • Refurnishing office/business premises • Other sectors under CMSME measures business
Private Sector Initiatives for Development of CMSMEs Product Launching for CMSMEs: Product launching by Banks, trade association, chambers, among which FBCCI, DCCI, CCCI NASCIB, WEAB, regional chambers and district chambers. FBCCI SME Fair: The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has contributed a great deal in promoting SMEs products of Bangladesh through the SME fair annually. SCI Fair of NASCIB: National Association of Small and Cottage Industries of Bangladesh (NASCIB) organizes various Small and Cottage Industries (SCI) Exhibitions, Regional Fairs, Seasonal Exhibitions, Product
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Promotion of NASCIB members and Trade fairs, of which the Yearly National SCI Mela held annually is participated not only be women entrepreneurs of Dhaka but also from different districts of Bangladesh. Besides NASCIB assists its women entrepreneur members in SME in the participation of important International Trade Fairs and regional Melas, where women entrepreneurs’ SME products are in great demand and these women have proved their efficiency by receiving orders for their products at different fairs. Various Type of Fairs: Trade Fairs for product promotion and export orders are held every year by various Trade Associations as “Exposition” themes with exhibitions, displays and fashion shows. Among them are BGMEA, BKMEA, Bangladesh Engineering Industry Owners Association (BEIOB), Plastic Manufacturers and Exporters Association. Pharmaceutical Owners Association, Textile Mill Owners Association , Bangladesh Furniture Industries Association, Bangladesh Electrical Association and Bangladesh Weaver association etc. Challenges for growing CMSME: (i) Insufficiencies Information: Problems in identifying, selecting and contracting international markets due to information insufficiencies. (i) Limited information to locate markets; (ii) Unreliable data about the international Market; (iii) Locating foreign business opportunities; (iv) inability to contact overseas customers; (ii) Functional Barriers: Insufficiencies of various functions internal to the enterprises such as human resources, production and finance with regards to exporting: (i) Lack of managerial time to deal with internationalization; (ii) Insufficient quantity of personnel for internationalization; (iii) Lack of excess production capacity for exports; (iv) Shortage of working capital for financing exports; (iii) Marketing Barriers: Pressures imposed by external forces on adapting the elements of the company’s marketing strategy including barriers associated with the company’s product, pricing,
distribution logistics and promotional overseas: (i) Developing new products for foreign markets; (ii) Adapting export product design/style; (iii) Meeting export product quality/ standards/ specifications; (iv) Offering technical/after-sales service; (v) Offering satisfactory prices to customers; (vi) Granting credit facilities to foreign customers; (v) Complexity of foreign distribution channels; (vi) Maintaining control over foreign middlemen; (vii) Unavailability of warehouse facilities abroad; (viii) Excessive transportation/insurance costs; (ix) Adjusting export promotional activities to the target market; (iv) Procedural Barriers: Barriers associated with the operational aspects of transactions with foreign customers. (i) Unfamiliar exporting procedures/ paperwork; (ii) Difficulties in communicating with overseas customers; (iii) Slow collection of payments form abroad; (iv) Difficulties in enforcing contracts and resolving disputes; (v) Government Barriers: Barriers associated with the actions or inaction by the home government in relation to its indigenous companies and exporters. (i) Lack of home government assistance/incentives; (ii) Unfavorable home rules and regulations; (iii) Unfavorable foreign rules and regulations; (vi) Customer and Competitor Barriers: Barriers associated with the firm’s customer and competitor in foreign market’s which can have an immediate effect. (i) Different foreign customer habits/ attitudes; (ii) Keen competition in overseas markets; (vii) Business Environment Barriers: Barriers associated with the economic, political-legal and socio-cultural environment of the foreign market’s within which the company operates or is planning to operate. (i) Foreign currency exchange risks; (ii) Unfamiliar foreign business practices; (iii) Different socio-culture traits; (iv) Verbal/Non-verbal language differences; (v) Inadequate of infrastructure for e-commerce; (vi) Political instability in foreign markets; (viii) Tariff and non-tariff Barriers. (i) High tariff barriers; (ii) Inadequate
property rights protection (PRP); (iii) Restrictive health, safety and technical standards; (iv) Arbitrary tariff classification and reclassification; (v) Unfavorable quotas and/ or embargoes; (vi) High costs of customs administration.
Recommendations for Development of CMSMEs:
The proposed strategies and policies to be implemented on short term, medium term & long term basis. Extensive Financial Support to CMSMEs: Various banks, financing institutions, NGOs may further increase its technical and financial support to CMSMEs through its various financing facilities and windows, which may significantly contribute to the creation and development of CMSMEs. Trade Fairs, Exhibitions, Symposiums, Seminars and Workshops: Trade fairs, exhibitions, symposiums, and seminars, workshops etc. on CMSMEs should be organized on a regular basis. Publications of all these events should be made available for all CMSME establishments. Chambers around the country can arrange exhibitions for CMSMEs products, so that larger number of consumers may gain awareness about the diversity and quality of CMSMEs products. Periodical Professional Training Courses for CMSMEs: Periodical professional training courses should be arranged for technical staff of CMSMEs. Moreover training in management of small enterprises and efficient marketing can also be provided. Training programs/workshop should be organized for the development of CMSMEs capabilities to acquire enhanced knowledge and skills about how to choose, use and improve technology. Seed Money, Leasing, Venture Capital and Investment Funding: There is a great need for improving different aspects of financial services of CMSMEs, such as seed money, leasing, venture capital and investment funding. Seeking International Financing:
Various international donor agency/bank extends financing to CMSMEs through National Development Financing Institutions (NDFIs). It is found that they are not explored properly. The procedure of those donor agencies/banks for loan facilities to CMSMEs through NDFIs may be reviewed and term and conditions may be examined in order to make international financing more accessible to CMSMEs in the country. E-Commerce: Electronic Commerce has also great potential for development around the country and abroad. Through this device, matching of buyers orders to sellers can be done in such products in which CMSMEs are dealing. Such exchange of information about sellers and purchasers shall be most useful for Agro products, leather products, textiles and clothing, IT and metal products as well as raw materials and intermediate goods. Alleviating Poverty through CMSMEs Development: There is great scope of alleviating poverty through CMSMEs development. So poverty alleviation strategies and policies for CMSMEs should be developed, in order to provide job opportunities and enhance living standards for large segment of this poverty-ridden country. Expansion and Diversification of CMSMEs: Bangladesh’s industrial sector needs expansion and diversification. For this purpose, growth of CMSMEs is essential. However, CMSMEs have to equip themselves with modern technologies and effectively use them to raise their production efficiency. Inter-Firm Linkages: In order to develop sub-contracting among large and small enterprises around the country and between Bangladesh and other SAARC or OIC countries, Subcontracting Exchange Schemes can be launched. Professional associations and National Chambers can set-up such establishment. They may collect information about engineering industries components, and what vendor industries can provide such components. In this way, inter-firm linkages could be expanded at home and abroad.
Credit Guarantee Scheme & Financing of CMSMEs: Financing CMSMEs can be successful, if two arrangements can be undertaken: (i) Separate institutions dealing with CMSMEs loans should be established around the country. They can provide adequate volume of finance, on less strict terms and can supervise the loan repayment process as well. (ii) Credit guarantee schemes. Credit guarantee schemes for CMSMEs can be an effective means of supporting small enterprises development, especially in our country where access to credit is constrained for small borrowers. Sub-Contracting Exchange Schemes between Large and Small Enterprises: In order to develop sub-contracting among large and small enterprises among member countries, Sub-Contracting Exchange Schemes can be launched. Professional Associations can set-up such an establishment. They may collect information about engineering industries components, and what vendor industries can provide such components. This way inter-firm linkages can be expanded around the country. Technology Transfer: Technology transfer is of vital importance for development of CMSMEs. Technology transfer through various means and reverse engineering to be arranged through Government and private levels. Appropriate policies and programs regarding the required services and facilities for CMSME development are essential especially for a developing country like Bangladesh. Proper and effective implementation of these policies and programs are also equally important. Moreover, the services package should be handled by one or more efficient and professionally competent bodies preferably in the private sector so that the entrepreneurs are offered need-based services and also those in proper time and appropriately.
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FEATURE
/ GObd
T
Tackling Traffic 66
he residents of Bangladesh’s concrete jungles are no strangers to the plights of traffic congestion. Given the high number of vehicles on our roads, it’s no surprise to see them making their way to their respective destinations at a snail’s pace through the meandering passages in our ever growing cities. Traffic is a major source of frustration leading to the loss of essential time and energy. As such, any information regarding the level of congestion on different roads in the country would help people plan in advance saving them from the unforgiving heat and blaring horns of countless cars, buses and trucks. This is exactly what GObd aims to do with their app GO! Traffic.
The GObd triumvirate comprises of CEO & Co-Founder, Qasim Rana; COO & Co-Founder, Farhan A. Rahman and CTO & Co-Founder, Swagata Prateek
A
Before coming back to Bangladesh and starting GObd, Qasim Rana worked as the Vice President of Business Development at Inmarsat, one of the world's leading Satellite Telecommunications companies based in the U.S. With over thirteen years of experience in the field of global telecommunications and information technology, Qasim's comfortable grasp of technical and business issues allows the company to set realistic goals for all its ventures. GObd’s CTO, Swagata Prateek is a recognized expert in Windows Platform Development. He is one of the youngest Microsoft Most Valuable Professional (MVP) Awardees from Bangladesh, and one of the key architects of the Bus Map Dhaka app for Windows Phone. As their COO, Farhan A. Rahman uses his people driven managerial style to help operations move along smoothly. His methods have earned him the affectionate work nickname, “Yelling Boss” among the GObd team. With over five years of experience in Asset Management, Business Development & Management Consulting, Farhan specializes in managerial capacity building, strategy and business development.
fter journeying through the busy streets of Banani, ICE Business Times met with Qasim and Farhan at their office to discuss how their venture is efficiently reducing the tedium of people’s day to day commutes. Reminiscing about how this project came into fruition when he returned to Bangladesh in 2014, Qasim stated, “At that time, Farhan approached me with an idea and explained that commuting to work was one of his biggest problems on a daily basis. When he left the house he would be perplexed about which route to take to work because a wrong decision would add 30 to 45 minutes to his commute.” They pondered over the horrific conditions of Dhaka’s roads and decided that something needed to be done to ease the miseries of the everyday traveler.“We don’t think we can solve traffic but we can help solve the problem of the lack of information regarding traffic conditions. Our app gives people real-time traffic information which can help them circumvent it,” the Co-Founder is
hopeful. “Prateek was sort of the brains behind everything, so he took whatever we asked him to make and turned it into matrix language which makes him kind of our Neo,” Qasim jokes. Their service is getting a lot of traction now with the app having over two hundred thousand monthly active users across all platforms. “We deliberately seeded our own data into the app and then we made partnerships to get additional data. At present, we’re just continually growing what we’re offering with this data. We’re currently working on some large contracts which includes a public transport contract with UNDP and BRTC which allowed us integrate bus routes from Motijheel to Abdullahpur into Go! Traffic. This helps users track where their bus is and how long it’s going to take it to reach a certain destination,” he shares.
The app is currently only available for Dhaka users but the team hopes to release it in other areas soon. In regards to the delay, Farhan explains, “We actually already have coverage of other areas in Bangladesh. It’s taking some time as we use our own mapping infrastructure. What you’re seeing on the app is a Google Maps front but at the back it’s all our own material. Due to this it’s taking some time for us to refine the Sylhet, Chittagong and Barisal maps.” Around 80% of the process along with connecting the cities with the major highways has already been finalized so the app should be available to users in other major cities shortly. Although Go! Traffic is slowly finding a foothold in Bangladesh; people in most countries abroad use Google Traffic which is a feature on Google Maps. It also displays traffic conditions in real time on major roads and www.icebusinesstimes.net
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highways. When asked about how Go! Traffic is different; Qasim answers, “Google has a very different way of approaching how they analyze traffic information. They ping from user’s devices which can drain their batteries and use up internet data. With Go! Traffic, we aggregate our data from other sources which add up to being about tens of thousands of points of data per day, and then use this data to create a picture of traffic.” The team is keen to work with organizations and entities that would benefit from a data-driven approach to optimizing operations, which previously was unthinkable in a place like Bangladesh. Dhaka’s streets are vastly different
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from those in even moderately developed countries which is why Google’s Traffic app does not work here. Farhan postulates, “Go! Traffic was built as a solution around the realities in Bangladesh. When you look at a street in Dhaka, it does not compare in any way to a street in London or New York or San Francisco where tools like Google Traffic work. Our innovation is reliant on the fact that we’ve tailored our algorithm and intelligence to factor in anomalies like multi-factored vehicles, motorized or non-motorized traffic, etc.” However, Google at some point in the future could come to Bangladesh to create a localized version of their product. In such a case, GObd hopes that they would be able to collaborate with them, similar to how Google has collaborated with local entities in other nations like Singapore. “We’re in a position where we have already established how we aggregate our data here. We would hope that if an organization like Google comes to Bangladesh, they would at least look to work with us first. We would open our doors for an opportunity like that as it would allow a level of knowledge sharing which would be beneficial for both parties,” states Qasim. Although it has only been a year since they launched GO! Traffic, the trio is already rolling out their next product, GO! Fetch. Qasim, Farhan and Prateek knew they were helping people solve a problem but they were also accumulating a tremendous amount of critical data. They realized this data
could be essential in optimizing logistics for public transport, ride sharing and service delivery businesses. “GO! Fetch is a third party logistics platform connecting businesses with users to offer their customers a better level of service. We started GO! Fetch as a pilot project just to see how it fares with very little marketing. Right now we’re taking that pilot and working with different entities to see how we can scale it,” Farhan reveals. What sets Go! Fetch apart from its traditional counterparts is that it has a mountain of traffic data which allows it to optimize service delivery for both clients and other businesses. Farhan justifies this,“To a certain degree, we see ourselves as facilitators. We’re facilitating efficiency, not just for people but for businesses as well.” Go! Traffic is already receiving a lot of positive attention and with Go! Fetch still in its pilot phase, the GObd team will undoubtedly develop more innovations in the future. As our conversation came to an end Farhan acknowledges, “Right now, we’re looking at refining our current services but we have had a few informal discussions about how to move forward with new ideas. We might send rickshaws to space in the future and call it Go! Space!” Whatever their future endeavor is, for the GObd team, the sky is the limit (quite literally, if those remarks are to be taken seriously).
DIGITAL MARKETING
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/ Case Study
ince the advent of the Internet and social media, the modes of communication we engage in have changed significantly. The world pivots us towards a reality where conversation and interactions are facilitated within the digital space and distance is bridged on a day to day basis.
Whether it’s a TV Commercial during your favorite show or a billboard on a crowded inter-section, brands are always vying for our “share of mind” so that we always recall the brand when we’re at the point of purchase.
However, the conversation isn’t just limited to our friends and loved ones. It also transcends to the brands that have always surrounded us, attempting to catch our attention and forge an interaction. Whether it’s a TV Commercial during your favorite show or a billboard on a crowded inter-section, brands are always vying for our “share of mind” so that we always recall the brand when we’re at the
point of purchase. Thus as social media platforms such as Facebook and Instagram have become our primary hubs of conversation, the brands followed suit as Digital Marketing has risen to the fore. A completely new route of communication for brands built on the philosophy of not just pushing the product onto consumers but attempting to generate conversation around a brand. Ultimately to ensure that it stays relevant and engaging through daily exposure via digital marketing. But with so much content on the Internet, it takes something truly worthwhile to connect
with the user while serving to help further the goal of the brands as well. Keeping this in mind, let’s take a look into some brands that have played it right and created that perfect blend of user interaction and brand communication.
These are three notable examples of successful brands operating within the digital space. While initially met with skepticism, it’s getting close to impossible to ignore the vast crowd that now goes online with the mindset to keep an eye out for the newest value offering. From online food delivery to the rise of e-commerce platforms, the digital space is seeping into our lives and disrupting the age-old model of consumerism. Facebook user penetration in Bangladesh is at an all-time high. Moreover, there’s also a curiosity amongst the youth to explore platforms such as Snapchat and Instagram.
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Digital Marketing The New Frontier for Brand Communication By Fardeen Ameen
The cozy coffee hub in Uttara has whipped up a cult following on social media through their clever use of contextual and creative Facebook posts. The communication courtesy of Beatnik Designs is witty enough to mirror exactly what’s on the mind of the café’s target audience while ensuring aesthetically pleasing product placement. Whether it’s the new episode of Game of Thrones or the scorching heat – George’s Café is always right on time with a post that appeals to what we are thinking and reminds us of the best place to grab a cool drink and hot dog too!
The struggle of transforming an everyday household brand into a contextual digital sphere is a daunting task but it was pulled off with aplomb by the team from Analyzen for CloseUp. Tapping into the emotions of love and the energy that comes with it, campaigns such as “Kache Ashar Golpo” and “Volt” encompassed crowd sourced submissions and stories. Additionally, it integrated celebrities such as Jon, Tahsan & Rafa thus serving to create a massive hype and driving traffic towards the CloseUp brand.
Pran’s Atom Gum is another example of establishing positive brand association through the digital space.When you’re making a quick purchase of gum, you’re not likely to put a lot of thought into it thus Atom Gum had to make themselves distinct within the digital sphere to ensure maximum recall at the point of purchase. Magnito Digital was given this task and created a platform with visuals reminiscent of a comic book and posts designed to completely engage and immerse the user. Atom Gum regularly draws in the engagement from users through brainteasers, puzzles, riddles and humor. Thus establishing the brand as whimsical and playful to ensure a place in the user’s hearts – the number of page likes has doubled since this community building approach and the brand remains on the rise.
The digital space also allows brands to communicate with less cost of production. This medium of communication gives brands a wider scope for experimenting with advertisements and brand imagery because it allows them to display more humanistic elements and interact with the users. There is a substantial amount of progress occurring in the sphere of digital marketing which means brands have to adapt accordingly or risk being left behind. The younger and bolder Bangladeshi user base is consistently on the lookout for innovation and convenience at the touch of a fingertip. Ignoring this phenomenon would undoubtedly be detrimental to any brand and their survival in the long run.
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EMERGING BUSINESS
/ Interview
RASHNAT TARIN RAHMAN TOMA
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is the Director of Toma Properties and seven of its sister concerns. She is an active member of the Gulshan Society Club and the Dhaka Club.
Companies cannot afford to ignore the adoption of sustainable measures and smart building technology
Property fundamentals continue to improve and owners will likely get benefits from investing in redevelopment of existing properties to enhance competitiveness with the newer building stock.
Q
Can you please share with us the vision of Toma Properties and how it plans on setting itself apart from other real estate firms in Bangladesh?
Toma is committed to be a construction conglomerate in the real estate market; externally through quality, integrity and commitment with resources and internally through profitability and employee satisfactions. Its real estate ventures are especially concerned with the design, construction methods, materials and marketing of apartments and commercial projects by branding them with its quality markings. Managed with experienced and qualified professionals in their fields, the company is completely focused on construction and service based competitive marketing strategy.
How would you describe the business model of Toma Properties? The business model entails a number steps. This involves a combination of individuals, groups and mutual interests. The organization is oriented to the achievement of its goals. So it adheres to social systems, specific structures and specialized coordination in order to accomplish these goals.
What major challenges did the company have to overcome over the years? How were these challenges hurdled? In the first decade of 21st century, the price
of per katha land increased unbelievably almost throughout Dhaka. Compared to the price increase of the earlier decade, the percentage increase in price almost doubled. In some areas, it was more than three to ten times the earlier price. Hence, the real estate developers were bound to increase their price to cover the cost of a project. This price rise is unbelievable and unexplainable. This has a direct impact on the prices of completed flats. Contributions to the government exchequer through registration fees, vat, Advance Income Tax (AIT), Stamp Duty, Property Handover Tax and other factors have increased every year. In the future, this sector has enormous potential to expand its volume and thus contribute more to the national economy. For this, sufficient government assistance is required. While negotiating with the government, it can be argued that, regulation is required as opposed to tightening the grip. If the government takes initiatives to support this sector to grow and expand its volume this sector will be able to contribute by generating more revenue. Additionally it will generate more employment opportunities to the people and by satisfying the essential housing needs of the people.
How do you see the commercial real estate markets evolving in the future? In many ways, the commercial real estate industry is on more solid footing than it has been for quite some time. Property fundamentals continue to
improve and owners will likely get benefits from investing in redevelopment of existing properties to enhance competitiveness with the newer building stock. Companies cannot afford to ignore the adoption of sustainable measures and smart building technology. Whether it’s the pressure coming from nontraditional competitors, the evolving threat of the rising cost of regulatory compliance, CRE executive faces ever evolving challenges. Companies that are able to effectively steer through these challenges and build on the positive momentum in the industry by leveraging technology will maintain a competitive edge.
What can we expect from Toma Properties during 2016? Toma Properties Ltd. Is a concern of Toma Group of Companies which began its humble journey back in the year 2006 with the leadership of Mr. Mohd. Ataur Rahman Manik, a renowned entrepreneur. It became a renowned real estate brand around the country in a very short period of time. The company has constructed some wonderful real estate ventures during the period with satisfied customer retention. With its prolific expansion, Toma Properties Ltd. today operates as one of the leading real estate conglomerates in Bangladesh and has a potential to deliver more in the coming days in 2016. An exclusive apartment complex located at Dhanmondi, named as Presidency Park and many other projects will be handed over to the customers in 2016.
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ADVERTORIAL
/ Healthcare Tourism
Destination Health Malaysia Healthcare Service Limited (MHSL) provides unparalleled healthcare tourism services for Bangladeshi nationals.
EVENTS ARRANGED BY MHSL: •
Your lifeline is the most imperative aspect of the quality of your life, a concept that is truly understood in Malaysia. That is why Malaysia strives to be the leading Health Tourism Provider in Bangladesh; exceeding the expectations of clients through innovative ideas and quality service. It is the ideal destination for your health needs whether it is a minor cosmetic procedure or a major surgery. The reasons to choose Malaysia for you health need include
affordability, modern facilities, and professional with international credentials, national stability, low living cost, excellent infrastructure, and efficient service. They are especially catered towards the health tourism that is accommodating for providing Halal food and cultural similarities that creates a sense of feel home. Since November 2011, Bangladeshi patients flying to Malaysia for treatment have experienced a
double digit growth every year. The treatment cost is comparatively less than Thailand and Singapore. MHSL has worked in partnership with Malaysia Healthcare Travel Council (MHTC) as the Country Representative Office for 3 years. Guardian Network is a sister concern office of Malaysia Healthcare that is now expanding to Singapore and India with representation in 5 Indian and 4 Singaporean hospitals.
MHSL REPRESENTS 10 MALAYSIAN HOSPITALS. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
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KPJ Healthcare Group Pantai Hospital Kuala Lumpur Ramsay Sime Darby Health Care Gleneagles Kuala Lumpur National Heart Institute of Malaysia (IJN) Penang Adventist Hospital (PAH) Sunway Medical Center International Specialist Eye Centre (ISEC) Sunfert International Fertility Centre The Tun Hussein Onn National Eye Hospital
CME programs by renowned Malaysian health institutes and hospitals were held in Bangabandhu Sheikh Mujib Medical University, Ibrahim Cardiac Hospital and Research Institute, Labaid Hospital, Chittagong Medical College and many others for the purpose of knowldeage sharing among healthcare professionals of Bangladesh. • Public health seminar at various social clubs and business associations, such as Dhaka club, Gulshan club, Uttara club, Raowa club, Dhaka Chamber of Commerce, Chittagong Chamber of Commerce, Dhanmondi Club, All Community Club, and many others. • Healthcare Expos for the public both in Dhaka and Chittagong • The CSR programs performed heart surgery with local experts at Ibrahim Cardiac Hospital and minimally invasive surgeries at Metropolitan Hospital. This led to the establishment of a Memorandum of Understanding between MHTC and Ibrahim Cardiac Hospital. Organized several study visits for Bangladesh healthcare personnel to different hospital in Malaysia for training purpose.
REAL ESTATE
/ Interview
“Home for peace� is simply not our slogan; it is the fundamental belief that we strive to achieve in the industry Md. Sheikh Shadi Founder & Chairman, Assure Group
Md. Sheikh Shadi is the Founder and Chairman of Assure Group. He also serves as the President of the South Bengal Development Council, the Vice President of Dhaka Premier Club Limited, the President of Assure Welfare Fund and a member of Dhaka Chamber of Commerce & Industry (DCCI), Real Estate & Housing Association of Bangladesh (REHAB), and the Bangladesh Myanmar Chamber of Commerce & Industry.
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With the restoration of stability during the previous year, the industry has continued its evolution. The next step that is quite evident now is creating living spaces of international standards
Q What is the vision of Assure group? How does it plan to distinguish itself from other real estate firms in Bangladesh? Every conscious person should have some commitment to the society and the country. As a corporate body, Assure Group also believes in its social commitment as strongly as its business ethics. “Home for peace� is simply not our slogan; it is the fundamental belief that we strive to achieve in the industry. We believe that your home should be somewhere in which you feel secure and comfortable. With this noble vision, our journey started in 2007 and since then we have been efficiently serving respected clients, landowners and apartment owners with the standard and comfortable living spaces of their specifications and necessities.
How would you describe the business model of Assure Group? The business model of Assure group entails a number of principals. We devote our resources to provide a product and service of high and consistent quality. All of our provisions are in accordance to the vision of the buyer because they have invested in our company and it is our priority to provide the best. In order for health and sustainable growth, the company ensures that the investments of clients are satisfactorily met. A workforce defines the success of a company therefore we believe in an environment that allows for personal development and well being of our employees. We also believe that there is always room for improvement and refinement therefore we encourage the idea of supporting and understanding customer service and constructive criticism.
What major challenges did the company have to overcome over the years? How is the company expanding? In a megacity such as Dhaka, where the density of buildings is continuously increasing, the idea to create an outstanding architectural design proved to be the greatest challenge. We focus on very conscious selection of project sites, quality construction materials, modern fittings and uncompromised standards. These qualities have allowed us to become such a successful entity in a short duration of time. We believe in maintaining a degree of professionalism in the context of construction while finding an understanding
connection with the customers to meet their demands. We would like to contribute to the national economy because the overall development and progression of a nation allows all of citizens to prosper.
How do you see the commercial real estate market evolving in the future? There was a period in which I was skeptical because of political instability. During that year, we had experienced a significant degree of loss in the real estate sector. With the restoration of stability during the previous year, the industry has continued its evolution. The next step that is quite evident now is creating living spaces of international standards. We don’t want to just make buildings that provide shelter; your house is your sanctuary in a sense. The post-modern aesthetics are being implemented in regards to design, building aesthetic, special orientation and greenery. The newer buildings take into consideration the need for a significant amount of distance amongst the buildings of any particular area because there is always a matter of privacy and proximal comfort.
What can we expect from Assure Group during 2016? We have experienced a significant amount of success in the real estate industry, establishing a reputation and continuing our service, we seek to expand into other ventures. We would like to expand to the agro based sector along with some other businesses. If we apply our ethics and professionalism, Assure believes that we will prosper in these industries as well.
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FEATURE
/ BPCL
The Prospects of Plastic Khadem Mahmud Yusuf Managing Director & CEO Bangladesh Petrochemical Company Limited
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rowing up in Dhanmondi, Khadem recalls a time when he would visit the Sitalakkha river and watch dolphins swimming in the water. A stark difference to the reality today; he explains, “On a boat ride outside the city, we had to sit inside for at least 90 minutes from our departure because the water was black and smelled putrid.” ICE Business Times converses with the man, who envisions a greener Bangladesh, creating the first petrochemical (PET) factory, Bangladesh Petrochemical Company Limited (BPCL). In 2012, Khadem visited the leading PET factories in Germany, Austria and Italy in order to understand their dynamics. He states, “Prior to my tour, I read an article in ProthomAlo, ‘Felna Botoler Chin Jatra’, which led me to understand that we sell our PET bottles to China and import it back the PET Resin (Raw material to make bottles) for almost double the cost. The demand for PET is 150,000 tons per year and the market has grown by 20% in the last 8 years and the demand for PET bottles has increased by 30%.”
“I have had experience with start-ups such as Alap communication, therefore I understood the necessity to conduct research which involved travelling to factories in Austria, Germany, USA, China and Taiwan for one year before gaining any funding,” proclaims Khadem. His understanding allowed him to work with the vendors to ensure that the purchase and delivery of the equipment would entail installation, commissioning, training and performance at certain periods with a guarantee. He adds, “The Austrian contractors were required to train my staff and return after a 3 and 5 months of training to conduct test. I wanted them to ensure that the quality they had set forth was being maintained.” The demand and notion that imported products are of better quality is a common ideology and proves to be a challenge for local manufacturers. To dispel any doubts, proving that their products are of equal quality Khadem allows interested consumers to visit their factories. “They witness how the resin is being produced with the most modern imported machineries. Additionally, there are 8 to 9 parameters for testing the quality of a resin,” explain Khadem. The labs of BPCL have the equipment to test both the imported PET resin and their own product demonstrating the similar quality. Local manufacturers are increasingly interested because it takes duration of 3 months to import PET resin that hampers the production time. “The bottles that come to us are of lesser quality and they are not presorted therefore we had to create our own process,” reveals Khadem. BPCL has a set standard
for the plastic bottles that they will accept such as there cannot be any glue from a label, traces of aluminum or evidence of long-standing storage of food. “We hand sort the bottle with 45 trained workers who manually conduct this process. A German machine known as the Polymer Sorting System analyzes the bottles after they have been screened. It uses infra-red scans that test the composition of the polymer to ensure that the bottles are made of PET.” The accepted bottles are then used in 2 applications, food and non-food. Food application bottles follow a stricter parameter of processing given that they are life threatening. Khadem’s dedication to the environment is evident in BPCL’s future ventures and their current factory provision. He has installed a 10-kilowatt solar panel system in his own factory. “I believe that renewable energy is critical for a prosperous future. We would like to work with one of our financers, IDCOL. They have created over 3 million solar homes and understand the efficiency of solar energy in the context or our country. Utilizing this energy source for a better tomorrow is integral for the environment.” Unfortunately, a majority of the population is not aware of the effects of the created pollution to Bangladesh. Khadem postulates, “The consumption of plastics will rise as Bangladesh grows into a middle-income country; it will increase 10 times per capita. It is imperative that we know that these materials are not degradable; improper discarding of plastics will pollute every major body of water and our drainage systems.” The import of plastic is also hampering Bangladesh’s
The demand for PET is 150,000 tons per year and the market has grown by 20% in the last 8 years and the demand for PET bottles has increased by 30%.”
solvency because it cost us hard earned foreign currency to import plastic resin. For a country like Bangladesh, where there is always a negative Balance of Trade, a huge number of foreign exchange can be saved if we start using recycled PET pellets or resins. Recycling used PET bottles will help reduce and reuse garbage and thus in effect keep the environment clean by removing PET from landfills. He has created a flourishing business from a concept that was only thought of as a reality abroad. He advices those who would like to start new challenging projects, “You should never compromise when it comes to quality because if it is not up to the standards, the initial impression will be negative ad difficult to overcome; either be equal or better than the import quality.” He emphasizes that it takes perseverance and resilience, citing his experience. He says, “When I first introduced recycled plastic to consumers, they immediately thought I was selling them garbage. I had to give them detail evidence that my Recycled PET resin were of international standards.” It took a 6-month time period from the machine commissioning to the production line with bottle grade quality. Khadem plans to expand the company as BPCL is only addressing 3% of the local market demand, “In future we intend to produce virgin resin alongside with our Recycled PET resin in order to make our company a one-stop supplier of PET resins.” Plastics take approximately 500 to 1,000 years to degrade and virtually every piece that has been created is still in existence. PET resins are lightweight, easily produced and non-breakable, making it an ideal material for everyday use only if proper processing is administered. We cannot ignore the responsibility towards the environment, landfills and water bodies that surround us. Khadem’s vision to properly implement the reuse of this omnipresent and heavily used material paves the way for a more ecological and environmental Bangladesh. www.icebusinesstimes.net
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THIS INFORMATION HAS BEEN PROVIDED BY
PLATTS
2013
20132018
2018 2023
2023
3
North America
• US ethylene capacity to climb to 38.5 million mt by 2020, up from 27.7 million mt in 2013 • US ethylene run-rates are expected to fall to 83% in 2018 as new units are brought online • North America PE Production to climb 24.7 million mt/year by 2022, up from 18.6 million mt in 2013 • North America PE demand to climb 39% to 22.2 million mt/year by 2023 • North America PE surplus to peak at 3.5 million mt/year in 2007
• Central and South America facing polyethylene deficits of more than 2 million metric tons (mt) starting in 2015 • Those deficits are expected to peak at 3.2 million metric tons in 2018 • North America can fill nearly all of the Central and South American need
2018
2023 2013
2018
2023
-1,455 -3,163 -3,069 -1,455 -3,163 -3,069
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3
Western Europe • Europe HDPE production will increase in 2017, 2018 & 2019, with increases in capacity in Russia, overshadowing plant closure in Western Europe, namely in Belgium and Germany. • Europe LDPE production is to dip in 2015 due to plant closures in Central Europe and Italy but increase again in 2018, with additional capacity coming on stream in Serbia. • Europe LDPE is currently deficit of 459,000 mt/year and the deficit is set to remain, but narrow a balanced position in 2019 as capacity comes on stream.
5 5
Central & South America
2013
2018 2023
2023
-289 -289 -2.558-2.558 -4.748-4.748
4,3424,342 2,6662,666 2,4322,432 2013
2013 2018
Africa • Africa PE demand growth is
expected to average 7.1% annually from 2013 to 2023. As a result, the deficit is set to increase from 1.8 million mt/year to 3.2 million mt/year from 2013 to 2023. Operating rates as a total for all PE resins produced will average 84% in the outlook period. • Additional ployethylene capacity will focus around Algeria and Egypt, as more HDPE and LLDPE additions are expected to come online. LDPE capacity will remain flat. • Africa HDPE is expected to grow faster than HDPE and LLDPE, averaging 7.1% annually. LDPE will command the highest deficit for the region according for 1.4 million mt/year by 2023.
2
2
GLOBAL TRADE FLOW of Polyethylene Asia Pacific
• Asia is projected to be PE net short by 13 million tons by 2023 and through the forecast period, China will be the main driver. • SE Asia will continue to face feedstock challenge due to high cost naphtha • The total ethylene capacity from CTO/MTO projects is expected to be 15.5 million tons, while the PE capacity is 11.5 million tons. • The middle East will still remain the main supplier to Asia
6
6
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7.17.1
• Middle Eastern polyethylene capacity to grow rapidity, more than 5 million metric tons of new capacity expected online by 2023. • Demand in the region could grow by 4 million metric tons in the same period potentially adding 1.4 million metric tons surplus to region • The Middle East will be the main supplier of PE to Asia, Particularly China. However, there could be some lean years when CTO/MTO additions come online
20132018
20132018
2018 2023
2023
-2,571-2,571 -4,043-4,043 -16,416 -16,416
Middle East
2013
2013
2018 2023
12,30812,308 10,47510,475 10,54010,540 2013
20132018
2018 2023
2023
Surplus Surplus Trade Flows Trade Flows
2023
-888 -888 -1,826-1,826 -2,121-2,121
Polyethylene Demand Deficit Deficit Polyethylene Demand Kilograms Per Cycle
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BSRM
/ CSR
SWAPNO: Allowing Women to Dream By Rokeya Zaman
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WAPNO strives to engage women and help them overcome poverty. The social transfer project focuses on those women who are extremely impoverished; facilitating employment and creating future employable opportunities for these women. BSRM understands that with the engagement of women in public work, they can contribute to households, provide basic provisions, create savings for self-employment and business training, secure an education and ultimately rise above poverty. It is interesting to note that
Bangladesh’s largest steel production company BSRM Group has signed a partnership agreement with the United Nation Development Program (UNDP) to support the poverty-stricken women in rural areas under the social transfer project SWAPNO. Through this partnership, BSRM and UNDP will work together to provide livelihoods and life skills training to these women under one of the UNDP projects titled, Strengthening Women’s Ability for Productive New Opportunities (SWAPNO). SWAPNO counsels and
In addition to assisting women start and operate self-employment, micro-enterprises, SWAPNO focuses on facilitating linkages with Small and Medium Enterprises (SMEs) and Public-Private Partnerships.
supports women in order for them to properly use their savings in productive assets. The innovative ‘graduation’ strategy aims to ease the transition from safety net employment to market-driven employment. It entails vocational skills training followed up by job placements. They understand diversified climate changes, resilient livelihood options, ensuring market linkages, access to essential public services, and social and economic inclusion for these women. In addition to assisting women start and operate self-employment,
micro-enterprises, SWAPNO focuses on facilitating linkages with Small and Medium Enterprises (SMEs) and Public-Private Partnerships. Local SMEs in the rural, non-farm and off-farm sectors are encouraged to employ women trained by the project, confident that they have been trained for the demands of the private sectors. Sources have stated that the time frame of the project is 2014 to 2019, where their coverage is 1,030 unions in 106 Upazilas of 22 districts. 65,000 women will be the program’s beneficiaries. UNDP Bangladesh’s Deputy Country Director, Nick Beresford and BSRM Group Chairman, Alihussain Akberali, FCA, CIP signed the agreement on behalf their respective organizations. While signing this agreement, Nick Beresford said that with participation of BSRM with UNDP, SWAPNO will set an exemplary role for the private sector to contribute directly to the vision of a poverty free Bangladesh. BSRM Group Chairman Alihussain Akberali, FCA stated that there is a role for everybody. Working directly for the poorest households through SWAPNO, is one of the milestones of BSRM Group’s CSR initiative started in 2013. UNDP’s Assistant Country Director, Palash Kanti Das and BSRM Group Head of CSRPR & Communication, Ruhi M. Ahmed, were also present at the signing ceremony. The numerous components of this project include public work employment where women are provided 18-months employment in the maintenance and repair of important public assets and other public works. The Union Parishads are assisted
by partners NGOs in the selection and monitoring of women for public work. A strong human capacity building focus during the employment tenure, including life skills training, confidence building, empowerment and training in livelihoods skills, serves the purpose of reversing social and economic exclusion. Activities will include services to directly promote livelihoods like agricultural extension, veterinary services, fisheries services, services to cottage industries, and providing health and education services for the entire family. Furthermore SWAPNO is enhancing the capacity of local government institutions implementing the project for accountable, transparent, pro-poor and gender-sensitive service delivery. Bangladesh aspires to eradicate extreme poverty by 2030 - a target that is also drawing very broad international consensus in ongoing consultations to establish the forthcoming SDGs. Drawing on the encouraging poverty reduction experiences of the earlier UNDP assisted REOPA project implemented in partnership with Local Government Division, the next-generation SWAPNO project assists extreme poor women representing vulnerable households to move out of poverty.
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TRIPOOLY
Travel Simplified! / Tourism
Rafi Mustafa Founder & CEO, Tripooly
W
hether it’s to set up a gondola ride around the canals of Venice or to book a room at the Marina Bay Sands in Singapore or to explore the Mayan ruins in the Yucatan, planning a vacation can leave one more lost than the unknown destinations they desire. Between booking the best hotels and flights, travelling within the city, and packing, the planning drains any energy for the vacation itself. Fortunately, Tripooly will handle most of the
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provisions that will allow you to engulf yourself in your getaway. As an online tourism facilitator, Tripooly allows people to find leisure and honeymoon tour packages, airfare details, corporate travel deals and even customized deals at affordable prices. The platform eliminates the hassle of having to go from agency to agency to look for that perfect deal. Rafi Mustafa is the Founder & CEO of Tripooly. He is also the co-founder of the premium online lifestyle
e-commerce platform ZuumZuum. He has been involved in the online sphere for over 14 years, having worked for companies that include Groupon and Amazon. He also has extensive knowledge regarding the tourism industry from his time as a Director in his family’s travel agency business which has been around for 29 years. At present, he's based out of Bangladesh working on Tripooly while also being heavily involved in the local startup ecosystem. ICE Business Times spoke
with Rafi about the company that’s innovating the way people can travel abroad and within Bangladesh. “Tripooly will provide hotel accommodation, flights, tours and activities upon arrival in a detailed itinerary. We understand that it is hectic to plan a vacation and provide all the necessary components in one platform. That’s why Tripooly is here to help you find the best deals in agreement with your demands,” stated Rafi. The company is closely working with 22 operators, vendors, and travel agencies to provide a range of vacations throughout the world. With the exponentially increasing trend of planning a trip through the internet, they provide the details you might need on their website, www.tripooly.com, along with the convenience of flexible payment options. They also provide travel details through their Tripooly app, as he explained, “We have an android app which we’re still trying to improve and we’ll be rolling out an iOS version soon.” As 2016 has been dubbed the ‘Year of Tourism’, Rafi and his team are expanding their ventures to help boost domestic tourism, “We are working with the a number of vendors to provide packages and tours throughout various regions of the country; these include Sundaraban, Sylhet, Bandarban, Cox Bazar as well as within Dhaka.” Their website features many deals throughout the country with collaborations with different vendors. Tripooly looks to expand to the lesser known parts of Bangladesh given its rich
history. Rafi postulates, “There is a necessity for product development. For example, boat tours have become popular in our nation. With a large channel of rivers, there are so many destinations within our country that include Hail Hoar in Srimangal. These areas are seldom travelled to because of communication issues.” He greatly emphasizes that product development in these scenarios will be essential to improve tourism in our country. Given the rapid globalization of the world, Bangladesh must highlight its amenities in order to compete. In this regard, he
stay in constant contact with customers ensuring they find the best of what they’re looking for. When it comes to travelling, a client’s primary concern is accommodation; therefore, we ensure that the details of their hotels are given in depth. This applies for both domestic and overseas tours”. Not only do they ensure that all the details of one’s vacation are satisfactory, but Tripooly will also take on any liability, which essentially means that they’re taking the pressure off the shoulders of the vendors. “The customers have every right to come to us with these complaints
USD
$75,000 Their attention to quality is evident in the fact that within their first 3 month of service, they have served over USD $75,000 worth of trips. believes, “Domestic carriers must continue to improve their services to reach the potential of a developed nation. An aspect of this is expanding all travel services to a global platform.” The emphasis on commendable services is an integral part of Tripooly and Rafi’s vision. He states, “The primary concern with any customer is quality. They want the best quality in whatever service they require and with online services they can compare one provider with another. As the world is becoming a smaller place as communication channels are improving, we strive to
because we hold ourselves responsible for the entire experience which includes sales, marketing, and the final service. Hypothetically if you had taken a room in Bhutan and it did not meet your expectations, Tripooly is responsible for speaking to the vendors and sorting it out as we have acted as the intermediary.” The company significantly focuses on customer care. Their attention to quality is evident in the fact that within their first 3 month of service, they have served over USD $75,000 worth of trips. Tripooly’s success is noteworthy and exemplifies the prospect of startups to
flourish in Bangladesh. Rafi advises startups, “You must build experience in the field that you would like to pursue; make your passion your work. Part of my knowledge comes from travelling in Bangladesh and around the world and obtaining the first-hand experience of the demands and necessities of a vacationer. I would not be able to understand the requirements of a customer if I had not experienced these varying conditions during my tours across different parts of the globe. In addition to following your passion, you must focus on building the right team for your business. Nothing is possible without a great team and at Tripooly, we’ve got a fantastic team!” Further typifying their success, Tripooly was recently picked by e27 (an international tech media platform) as one of the Judges’ Choice Winners for this year’s Echelon Asia Summit 2016. e27 held their TOP 100 competition for startups from Australia, Bangladesh, India, Japan and Kazakhstan and picked one winner from each country. Tripooly was selected as Bangladesh’s winner after making it through the local qualifier event which featured 25 other startups. Rafi has dared to bring a commodity that was only available in developed nations and turned into a successful reality. With Tripooly, his vision is to encourage people to travel and discover what’s out there in the world. “We want to sell you an experience. We want to inspire you to travel and go on adventures.”
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PANAMA PAPERS
/ Mossack Fonseca
HOW THE RICH STAY RICH AND THE POOR STAY POOR By Sheahan Nasir Bhuiyan
B
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ack in 2013, there was a huge uproar when it was revealed that global corporations like Starbucks, Amazon, and Google avoid paying their share of taxes in the UK by identifying loopholes in the British tax system. These companies, perfectly legally, have avoided, not evaded, paying taxes for years. While tax evasion is illegal, tax avoidance, unfortunately, is not. What followed was a backlash against these companies where British citizens demanded that they paid their fair share of taxes. The UK Government has cut funding for public services in the education and health sector while the aforementioned companies have gone on to make record profits.
WHERE ALL THE MONEY WAS Mossack Fonseca data leak, April 2016
Breakdown of the 11.5 million documents 0
1
2
3
4
29
Billionaires (Forbes list)
5
E-mails Database formats PDFs Images Text documents Other
12
Current or former country leaders
128 Politicians and public officials
202 Countries/ territories connected to the data
Where the companies are registered, ‘000 0
20
40
60
80
100
120
British Virgin Islands Panama Bahamas Seychelles Niue Samoa British Anguilla Nevada, United States Hong Kong Britain
Mossack Fonseca’s offshore companies, ‘000 15
Cumulative number of active companies incorporated by Mossack Fonseca, ‘000
100
Incorporated 10
80
5 + 0 _
60 40
5 Closed
1977
20
10
90
2000
10
15
15
1977
90
2000
10
15
0
Source: ICIJ
The United Kingdom is a developed nation and even they suffer significantly from the loss of tax revenues. Bearing that in mind, what is the cost of tax avoidance on developing nations? Nations who are so poor that their citizens cannot avail basic services such as hospitals or schools, services which are taken for granted in the developed world. If you think the UK suffered as a result of tax avoidance, you cannot comprehend the misery that was piled
such as Panama, to avoid paying taxes in their own countries. The documents revealed they have set up a whopping 210,000 entities for this purpose. Again, while they are not participating in illegal activities, the nature of what they do, the fact that authorities cannot come after the money, mean that it is a highly lucrative avenue for anyone who wants to keep their activities hidden. This includes drug dealers, smugglers, animal poachers, human traffickers, on top of corporations and individuals trying to avoid paying taxes. Mossack Fonseca claims they have no knowledge of such illicit activities. The leaks, however, prove otherwise.
on the people of developing nations. The recent leak of 11.5 million pages of documents from Mossack Fonseca, an incident now known as the “Panama Papers” leak, has brought the consequences of tax avoidance into the limelight. Mossack Fonseca is the world’s fourth largest overseas finance consulting firm, based in Panama. They specialize in setting up offshore companies which can be used by individuals or corporations to stash away their earnings into tax-havens,
Let’s go back to the economic implications on developing nations. One of the revelations from the Panama Papers suggests that the Heritage Oil and Gas Ltd. Company (HOGL) employed Mossack Fonseca to help avoid tax laws in Uganda. According to the International Consortium of Investigative Journalists (ICIJ), who received the documents, HOGL was handed a tax bill of $404 million upon the sale of an oil field. To avoid paying that tax, the law firm helped HOGL fight the Ugandan courts and tried to relocate them to Mauritius, another tax haven. Mauritius has a double tax agreement with Uganda which allows corporations to pay tax in only one of the countries. Even though what they were attempting is right, let's look at the consequences. Uganda is one of the poorest countries in Africa with approximately 37% of the population living under $1.25 a day. They also have the highest rates of maternal and under-five mortality rates in the world. According to the World Health Organisation (WHO), Uganda is one of the top ten countries that account for the majority of global maternal deaths. Many of the people living around the oil field are facing these challenges. And yet they will not receive anything from the sale. $404 million is larger than Uganda’s entire health budget. Another similar case like this occurred in the telecom sector in India in 2007. Vodafone wanted to acquire www.icebusinesstimes.net
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Hutchinson Essar Ltd., an Indian subsidiary of a Hong Kong-based company. Hutchinson Essar, despite only operating in India, was not registered there. Instead, it was recorded in the Cayman and the British Virgin Islands, tax havens in the Caribbean, and Mauritius. Vodafone acquired Hutchinson through their subsidiary, one registered in the Netherlands, yet another tax haven. None of these places charge a capital gains tax on mergers and acquisitions, and India cannot avail a capital gains tax between an offshore to offshore transaction. As a result, it lost out on $2.2 billion from tax revenues. This sum represents the entire annual budget for subsidized meals for school-going children in India. Children from poor communities often cannot afford meals and this service is essential to help them not only gain much-needed nutrition but also assist them to concentrate during lessons instead of falling asleep from hunger and fatigue. A report from the Global Financial Integrity released in 2015 found that between 2004 to 2013, developing nations lost an estimated US $7.8 trillion in illicit financial flows, with the rate of illegal outflows growing at an average rate of 6.5% a year, almost twice as much as the speed of the increase of the global GDP. An Oxfam report found that multinationals alone cost developing nations between $100 to $160 billion a year through tax dodging. Added with profit-shifting, this amounts to an estimated $250-$300 billion. Brookings Institution estimates that the lost earning is enough to lift everyone living under $1.25 a day THREE TIMES OVER. Every $1 billion lost to tax havens can ensure that: • 11 million food insecure
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people in the Sahel region can have enough to eat • 400,000 midwives in Sub-Saharan Africa can be paid in a region with the highest maternal mortality rates • 200 million insecticide-treated mosquito nets can be purchased to reduce child mortality from malaria The most infuriating aspect of this entire debacle is the fact that no laws are being broken. Whatever transactions are taking place are perfectly legal. Due to the existence of various loopholes in the tax systems of virtually every country in the world, corporations and individuals can get away with such acts. The rich continue to stash their money away in off-shore accounts, avoiding paying taxes on the millions they earn while the poor and the middle class, who cannot afford such services, end up having to pay a lot more. Is it any wonder that the top 1% have more wealth than the 99%? While mechanisms like this exist, it will be impossible to address the growing wealth gap between the 1% and the 99%. Mossack Fonseca is only one firm whose documents were leaked. There are thousands of similar businesses who engage in the same activities. Oxfam estimates that a total of $18.5 trillion are stashed away in tax havens all across the world. While there are mothers and children dying from lack of access to health services. While there are children who remain illiterate because schools are closed. The leaks have prompted governments across the world to rectify this situation. There have been talks of creating a world tax body who will govern over every international transaction. Whatever it is, a solution is required, and it is needed fast.
shop online: www.reluce.com.bd
FUTURE LEADERS LEAGUE
/ Unilever
Unilever BizMaestros U
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nilever Bangladesh (UBL) aims to develop the young talent of the country and with that aim, it engages with the students of the top universities of the country. One of the key engagement platforms to identify talent is Unilever BizMaestros which is a real life business competition. This year UBL engaged with more than 5000 students across 12 campuses. 500+ students registered for participating in the competition from which 12 teams made it to the semifinals. They were given real life business challenges for which they had to run real life simulation at point of sales and from which the champions, Team Boom Boom from IBA- University of Dhaka, emerged as Champion. As the winners of BizMaestros, the team received the honor of representing Bangladesh at the global platform of Unilever Future Leaders’ League.
Bangladesh Flag Rises High in Unilever Future Leaders’ League 2016! Team Bangladesh emerged as the Champion by winning the global title of Unilever Future Leaders’ League 2016. Sajeed Alam, Ayman Sadiq and Ishmam Chowdhury, winners of Unilever BizMaestros 2015 represented Bangladesh and beat teams from 29 countries to win the title. Sajeed Alam, Ayman Sadiq and Ishmam Chowdhury, representing IBA - University of Dhaka, won the title in October 2015. In the local round the team hustled against 500 top selects of the country and became the champions. As the BizMaestros Champions, they had the responsibility to represent Bangladesh in the global platform of Unilever Future Leaders’ League 2016 held from 10th April, 2016 to 14th April, 2016. From the pool of 400,000 participants,
this year from 1,120 top ranking universities, top 90 students representing the best of 30 countries participated in the semifinals of the global competition. Aiming to enhance Unilever’s attractiveness amongst the graduates, the Unilever Future Leaders’ League (FLL) was introduced in 2013 with an aspiration of becoming the most iconic and recognizable business competition amongst universities globally. It is a one-of-a-kind, global competition, which serves as a platform for the best and brightest university students from all over the world to showcase their creativity, as they impress our Leaders with their innovative solutions to real-life business challenges faced by Unilever renowned brands, experience world class-coaching by learning from Unilever leadership and business professionals at Unilever and gain global perspectives through interactions with like-minded peers from different parts of the globe. It is a live case competition that Unilever is proud to host every year, as it empowers Future leaders to make a personal impact, shine with other bright minds and become a role model for others. Apart from its objective to create mindshare amongst the graduate talent pool, Unilever FLL also aims to develop a talent pipeline for our iconic early careers programs and leverage the students’ creativity and innovative thinking to inject new business ideas into Unilever. But most importantly, through the scale and reach of this global program, Unilever is able to improve youth employability around the world, by providing a unique FMCG experience – creating a brighter future in the youth arena. In the platform of Unilever Future Leaders’ League, Team Bangladesh met representatives from all across the world. The experience was overwhelming for each participating students as they all came together and experienced Unilever for 4 days. The competition started on 10th April and ended on 14th April with Bangladesh lifting the Trophy for 2016. During the semifinals, Teams presented their ideas on Sunsilk as to how they can generate and engage the consumer groups more in terms of global engagement.
Team Bangladesh emerged as the Champion by winning the global title of Unilever Future Leaders’ League 2016. Sajeed Alam, Ayman Sadiq and Ishmam Chowdhury, winners of Unilever BizMaestros 2015 represented Bangladesh and beat teams from 29 countries to win the title.
Bangladesh presented their idea and got through the finals by impressing the judges massively. The best feeling for the team probably was when finalists were announced. Bangladesh had beaten USA, Canada, UK, Japan and many more countries who are known for producing some great talent. Additionally, Bangladesh was the only country from South Asia to go through the finals beating India, Pakistan and Sri Lanka. In the Finals, Bangladesh was fourth
to present. The other teams in the finals were from Indonesia, Canada, Nigeria, Costa Rica, Malaysia, Russia, Egypt, Portugal and Italy. Costa Rica became the 2nd Runner Up, team Russia became 1st Runner up and with their impressive performance, Team Bangladesh won the trophy. Ipshita Fahmin, Leadership Development Manager of Unilever Bangladesh mentioned that Unilever Bangladesh always believes in harnessing young talent and as they believe the potential of the youth of this country is paramount. “We often think Bangladeshi students struggle in terms of quality when it comes to global competition and it is in these global competitions that we can see how Bangladesh can rise high. Our objective is to create the platform for the youth of tomorrow.” With this aim, Unilever Bangladesh organizes Unilever Bizmaestros every year which provides final year university students in Bangladesh to experience the thrill of real business through competitive activities. Students are required to conduct research to accumulate consumer insight on a real brand of Unilever and then formulate a business plan for the brand. The winning trio, this year, were asked to design their own communication material, suggest their own sustainability idea for the brand, and build a “360 degree” plan to build the brand. Throughout this process, the participants also obtained the unique opportunity to be coached and guided by the brand managers of Unilever Bangladesh. Winners of BisMaestros have been performing greatly on the global platform of UFLL ever since Bangladesh started participating since 2014. In first year, Bangladesh was amongst the finalists while in second year in 2015, Team Bangladesh won 1st Runner Up position. As the winners of UFLL, the team from Bangladesh will now be representing the country in “One Young World” summit in Ottowa, Canada to be held in September this year.
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WORD OF MOUTH
/ Event
Critical Conversation 2016
the Future of Sustainable Growth
IBT report: Critical Conversation 2016 was held at the Bangabadhu International Conference Center (BICC). Policy makers, economist, business leaders and members of development think tanks discussed critical issues regarding the development of Bangladesh. The conference addressed the journey of economic development and future development challenges of Bangladesh, Entailing two days, during the event dialogues covering education, regional cooperation, governance, land and agriculture, financing infrastructure and poverty eradication were extensively discussed over nine sessions. With the initiative to discuss sustainable development, Bangladesh Institute of Development Studies arranged a platform to freely discuss all of these matters.
The event was inaugurated by the Planning Minister, A H M Mustafa Kamal MP who expressed his pride in the growth of Bangladesh, “The 7% growth this year will dispel any idea that we are not progressing as a nation. During this session, the macroeconomic outcome and data are being uploaded to the BBS website.”
Presenting his policy paper, Director General of BIDS, K.A.S. Murshid stated, “We have achieved a great deal but we must understand that our journey towards development has just started. Further progress will depend on our ability to overcome our divisiveness and forge unity as a nation.”
Economist and Former Advisor to the government, Dr. Hossain Zillur Rahman stressed the necessity for quality education and health care alongside infrastructure. He also brought the attention to investment, “With the country’s political situation improving, the stagnation of investment proves to be rather paradoxical.”
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“Bangladesh will have to focus on infrastructure in a more active manner if it wants to reap the benefits of the World Trade Organization; this encompasses the Bangladesh-India-Nepal Motor Vehicle Agreement and other regional connectivity initiatives, The time has come for Bangladesh to become a efficiency-driven economy as opposed to a factor-driven one,” postulated Professor Mustafizur Rahman, the Executive Director of the think tank, Center for Policy Dialogue (CPD).
Emphasizing the need for education, Vice Chancellor of BRAC University Saad Andaleeb called for a greater focus on standard education, skilled manpower development, and more research in the educational arena.
“The country is making significant progress every year but we have many problems to overcome in order to attain our optimal potential,” remarked Vice Chairman of Beximco Group, Salman F Rahman. He revealed that he had to hire foreigners for senior management positions because there are no professionals of that level in Bangladesh, “We must focus on the most prominent demographic dividends and how to employ our own.”
Abdul Matlub Ahmad, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) accounts for infrastructure constraints as problem that needs to be address, “If we do not resolves these constraints, Bangladesh will not be able to bring in industrial development and high levels of economic growth.”
The informative session brings to light the need for Bangladesh to continue progressing as it has while addressing a number of issues. If these matters are addressed and solutions are efficiently implemented, the aspirations will become a reality. www.icebusinesstimes.net
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SPECIAL EVENT
/ Leadership Summit
Bringing the Best Minds Together W ith the initiative to materialize the immense potential of the country through leadership drive, Bangladesh Brand Forum has held “AIUB presents Leadership Summit 2016” with 5 global leaders from the corporate sector with the theme “Realizing Potentials.” This year, in its fourth edition, the summit has inspired and guided leadership among the corporates of Bangladesh to actualize the prospects of the country. Only through Leadership can this progress and development be ushered in. The day-long summit was attended by around 500
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business professionals and it took place on the 23rd of April at Radisson Blue Water Garden Hotel. Five world renowned business and marketing leaders from across the globe joined the summit to share each of their unique experiences, insights and learning as leaders. The summit was replete with a number of programs including five key-note sessions on leadership, panel discussions on economic growth and launching of Mind Your Marketing, which is a journal of World Marketing Summit. Alongside the main summit, a special youth engagement session was also held for university students with two global speakers, supported by Grameenphone. An intensive panel discussion took place under the title “Realizing Potentials – The Bangladesh Perspective”. The panel was moderated by Munawar Misbah Moin, Group
Director, Rahimafrooz. Some of the top-notch leaders from the corporate sector of the country took part in the discussion. The participants were Abrar A. Anwar, CEO, Standard Chartered Bangladesh; Dr Arif Dowla, Managing Director, ACI Ltd. The global speakers conducting key-note sessions this year were: Prof. Amitava Chattopadhyay – Glaxo SmithKline Professor of Corporate Innovation, INSEAD; Prof. Amitava talked on “Leadership Guidelines for Driving Innovation”. Ripa Rashid, Executive Vice President at the Center for Talent Innovation, and Managing Partner for Hewlett Consulting Partners, New York; Ms. Rashid elaborated upon “Growing Global Executives: The New Competencies”. Sanjiv Mehta – MD & CEO of Hindustan Unilever; Mr. Mehta discussed “Leadership in the New Age”. Alia Khan, the Founder and Chairwoman of
Islamic Fashion and Design Council (IFDC); Ms. Khan inspired leadership among women through her session “Women in Leadership”. Tom Cummings, Founder and Owner, Leading Ventures, B.V, Netherland; shared his learnings under the topic “Leaders: What we know about Transforming Potential into Performance”. An initiative of Bangladesh Brand Forum, Leadership Summit is supported by AIUB as title sponsor, powered by Beximco, Rahimafrooz Solar & Yellow as event partners, Shinepukur Ceramics Limited as banquet partner, The Daily Star as youth engagement partner, Etihad Airways as airline partner, Bellissimo as premium icecream partner, WIL & MSB as strategic partner, Real VU as technology partner, Fireflame Media as digital content partner, Independent TV as media partner, Masthead PR as PR partner, and WebAble as Social Media Partner.
During the event, the speakers discussed the various aspects of leadership through their distinctive experiences, providing insight as to the creating and shaping of a leader. ICE Business Times conversed with two of these brilliant minds to get their insight.
Q What are the key factors a leader requires in order to drive innovation? Innovation cannot be limited to thinking of it in the technological sense, it was must broadened to the applications in the social world. The precedence of it is from a psychological source. The pressing issue of our time is that we see technology pressing on and we are able to produce more products that provide services at a lower cost. On the other hand, the down side is the massive conversions to avoid the
disasters that we see being built up that include climate change and social dislocation. Within that context, we need to have leaders who are conscious of the evolution of technology, while also understanding the use of it. They need to be the kind of people who understand what kind of values is embedded in the assumption that we make about innovation. It is those underlying values that effectively determine the outcomes.
How does a leader bring about change in society?
Are there any local companies that you believe are a model for others in Bangladesh?
Tom Cummings Founder & Owner, Leading Ventures, B.V, Netherlands
In order to pursue and accomplish any form of change, there are three required levels of thinking. They are the levels of the individuals themselves, the level of relationships that have to changed or evolved Finally, it is crucial to be able to measure the outcome of your visions. If a vision is pushing an organization in a certain direction, then that organization and its leaders need to be able to judge what metrics they will use to judge the performance their teams and incorporate those into their Key performance indicators.
Q Your panel was about Leadership Guidelines for Driving Innovation. What would you say are the key factors that drive innovation? There are three key factors for Leadership. I’m saying “Leadership” instead of “Leader” as there is usually a Leadership team in an organization. It is very important for them to carefully articulate what the vision should be for their organization, that’s the first key factor. A properly articulated vision unites and aligns an organization behind a common purpose.
and the level of the structures. They must also be aware of the underlying assumptions about the structures of our society. If you are not aware of who benefits and who doesn’t, you are being irresponsible.
Amitava Chattopadhyay Chaired Professor in Corporate Innovations, GlaxoSmithKline Professor of Marketing, INSEAD
In this context, I mentioned innovation as innovative companies create greater stakeholder value over the long run. Secondly, you have to make the employees believe in that vision. They have to be convinced that whatever missive is being sent out is important.
How conferences like the Leadership summit helping inculcate leadership in younger minds? You get exposed to new ideas. At the end of the day that’s all we can do. We can present ideas and ways of thinking and the future leaders are those who will pick out and learn from the important messages in these events. The networks they develop while attending these events will also benefit them in the future.
I can recall that BRAC was recognized as one of the best forms of developments in world. This is simply because there is a very clear understanding of how gift money, education and arming with the right technologies leads to asset growth and development which can then can be used for bankable entities. On an entrepreneurial side, you see Grameen because they stay connected to the global leaders and innovations.
What are your suggestions in terms of institutional changes which can help create better leaders? I think you need to have a clear leadership planning system. If you look at top organizations, you will observe how they will identify the potential in people early on. After observing them for 2-3 years they will identify a few top performers as future leaders. Then these organizations ask themselves, what kind of capabilities would these people need to have and how would they attain them. That’s when job rotation and training comes in. The pyramid will narrow as these people move up the management ladder. However, for this to work, there has to be a process in place which has to be transparent, it can’t be done in an arbitrary, ad-hoc manner.
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HOT ON WHEELS
/ Mitsubishi
Raging Through the Roads By Shaikh Ashfaque Zaman
Mitsubishi’s latest model stays true to its portmanteau tag. It is 4 wheels of aesthetic appeal that makes it attractive while mirroring the popular Mirage Mitsubishi model.
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Amongst its many notable features, the Attrage has a convenient one-tap turn signal that immediately indicates lane changing. Additionally, the 4.8 turning radius makes it easier to avoid narrow and congested roads. Amongst its many notable features, the Attrage has a convenient one-tap turn signal that immediately indicates lane changing. Additionally, the 4.8 turning radius makes it easier to avoid narrow and congested roads. The unpredictable nature of the roads and continually rising fuel prices make the 1.2-liter inline 3 cylinder engine an ideal fit, consuming 20 liters per 100 kilometers. The 78 horsepower allows the car to accelerate from 0 to 100km/h in just 14 seconds. Hence it’s safe to say that arriving on time won’t be much of aissue. Featuring a high-tensile steel body, the Attrage keeps both passenger and drivers with the Reinforced Impact Safety Evolution (RISE) that absorbs and disperses crash energy for optimal safety. Furthermore, the dual SRS airbags and anti-pinch windows will protect passengers from any obstruction. Simply not just an appealing package, the interior of the Attrage creates an atmosphere that is nothing short of an experience. The Bluetooth audio system allows passengers to filter the blaring horns of the city. Whether it’s the blaring sun or the humidity of the
monsoon season, the fully automatic air-conditioner adjusts the temperature to create an ideal atmosphere within. Sometimes the concrete jungle can become a bit overwhelming and the 450 L cargo capacity gives you the chance to pack our essential and more for a road trip through the country. Weighing 900 kilograms, the Attrage comfortably seats five in a car. The 14-inch ventilated disc brakes in the front and 8 inch leading and trailing drums in back, the driver can come to a halt in an unpredictable situation minimizing passenger displacement. The Attrage is 4,245 mm (length) by 1,670 mm (width) permitting for the ease of parking in any tight crevice. One may not be able to escape the hustle and bustle of the city, but the Attrage provides a great deal of relief from the hectic nature of urban life. The affordable price tag, sleek and considerable design, and fuel-efficient features make drivers and passengers alike forget the inconsistencies of the road. Under the summer campaign, the new Attrage will be available at only Tk 15.50 Lac with free 4 services. Contact Rangs Limited for details. www.icebusinesstimes.net
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IN THE CLUB
/ Corporate Meeting
MEETINGS IN A NEW LEVEL D
iscover exceptional meeting experience at the center of Chittagong. Tea/coffee with Radisson cookies on arrival, set-lunch menu and afternoon tea/coffee break with complimentary snack. The meeting room is tailored to your need including free Internet. An exclusive offer focusing on the details of the experience.
Rates from 2000++ BDT per person*
RADISSON BLU CHITTAGONG BAY VIEW SS Khaled Road Lalkhan Bazar, Chittagong, Bangladesh T: +880 31 619855 sales.chittagong@radisson.com radissonblu.com/hotel-chittagong
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WORD OF MOUTH
/ Event
Master Card and Western Union Join bKash
Career Camp 2016
With a vision to create greater competency for graduates to become extraordinary, Don Sumdany Facilitation and Consultancy conducted the Career Camp – 2016 for a second consecutive year. The workshop covered various essentials required for a 360 degree job preparation. Overview of current job market, corporate grooming and practical experiences were shared by the top corporate officials. Entities such as the EMK center and Bombay Sweets Co. Ltd joined forces with this cause and collaborated with the workshop. The workshop drew a houseful of 100 participants of public and private university students from throughout the nation; providing them with valuable information about the realities of the job market, the ways of developing and growing in diversified careers from the guests speakers. The guest speakers includes, the CEO of Igloo Ice Cream Bangladesh, Ltd G.M Kamrul Hassan; CEO of Omicon Group, Mehedi Muhammad Hassan; Head of Marketing of AAmra Networks Limited, Solaiman Shukhon and Life Coach at Inspirit, Savina who graced the session with their real life experience and career guidelines for the youth. The core message being the necessity for soft skills and human skills in a professional atmosphere; this includes the ability to communicate, build relationships with people, emotional intelligence, and the understanding of others and their mindsets. The workshop concluded with an ending note and certificate giving ceremony lead by Shahriar Amin, Head of Marketing, Philip Morris International.
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MasterCard and Western Union joined forces with bKash while BRAC Bank launched a unique, international remittance receiving service in Bangladesh on 17th April, 2016. The new service enables bKash’s registered customers to use their mobile phones to receive remittances from abroad directly into their bKash accounts. Selim R. F. Hussain, Managing Director & CEO, BRAC Bank Limited said, “The partnership among bKash, MasterCard, Western Union, and of course BRAC Bank, has allowed remittance to be received literally at the fingertips of our customers.” The new service builds on the unprecedented success of bKash, which has attracted more than 22 million customers since its launch in 2011. Now people around the world can use Western Union’s trusted global network for sending cross-border remittances that can be received by bKash customers. Western Union’s network includes an unparalleled 500,000 agent locations in over 200 countries and territories as well as digital channels such as WU.com and bank account based transfers. By using the new service, bKash’s registered customers can receive remittances from every Western Union market and channel directly into their bKash account, 24 hours a day. The process is simple to use and secure; customers simply enter the Western Union reference number (MTCN), amount and PIN and the request will be processed using MasterCard’s secure payment technology and funds credited to the bKash account.
Junior Chambers International (JCI) Arranges Pahela Baishakh Event
SD ASIA Hosts First Ever Facebook F8 Meetup
SD ASIA, one of the leading content and event making platforms for Bangladeshi tech-startups, hosted Facebook’s F8 Meetup for the first time in Bangladesh. Worldwide, Facebook’s F8 meetup is a gathering event for the developer community, featuring the latest integrations on digital marketing, immersive experiences, and open source technologies. The country’s largest telecom operator Grameenphone was the event partner this year. The event took place at GP House on the 13th April 2016; inviting over 130 guests to attend the event, which included startup CEOs, marketing experts, entrepreneurs, developers, graphic designers, and students. This year, Facebook’s CEO Mark Zuckerberg gave the keynote presentation, which was shown worldwide. Zuckerberg’s recorded opening keynote presentation was followed by few interactive sessions, featuring the e-commerce ecosystem, Facebook advertising, and app development in Bangladeshi context. Rafi Mustafa, CEO and Founder of travel-startup Tripooly, presided over the event. During the event, the event heavily focused on the startup ecosystem and featured prominent Bangladeshi app developers and startup experts who gave their insight regarding how to streamline their services and make it as a startup in Bangladesh.
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JCI Dhaka East arranged an event to celebrate Pahela Baishakh, the Bengali New Year on April 15th, 2016 at House 333, Road 113, Gulshan-01, Dhaka. The event included various entertainment activities for the guests such as traditional food stalls, snake and monkey show, live music, fashion show etc. The media partners for the event were The Daily Star and Bonik Barta and the sponsors included Allponno.com and Hotel Castle Salam (Khulna) and the wardrobe for fashion show courtesy of Rubana Ali. The event was attended amongst others by JCI Bangladesh National President, Shakawat Hossain Mamun; Immediate Past President, M Nazrul Islam; JCI International Vice President, Amzad Hussain; former National President, Fahim A. Khan; JCI Dhaka East President, Eldem Faruqi; Secretary General Nazmus, Saquib Chowdhury, other NGB members, members of JCI Dhaka East, members from other chapters of JCI Bangladesh and host of other distinguished guests including Associate Professor Manmay Zafar of Jahangirnagar University. JCI is an international non-profitable voluntary organization which believes in God, true brotherhood, free enterprise, obeying Government law, and service to humanity. JCI Dhaka East is a local chapter of JCI Bangladesh and is the first chapter of JCI Bangladesh. JCI’s Mission is to provide development opportunities that empower young people to create positive change and the vision is to be the leading global network of young active citizens.
Mercedes-Benz Bangladesh Launches its Latest SUV
Biodiversity Film Awards - A Bid to Inspire the Youth
During the Biodiversity Film Awards, US Ambassador in Dhaka, Marcia Stephens Bloom Bernicat called upon the youth to channel their energy, passion and creativity towards raising awareness among people in conserving biodiversity. The USAID's University Film Contest on Biodiversity Conservation, in partnership with Brac Bank and Spellbound Communications Limited was held on 25 April, 2016 at a hotel in the capital, where 11 groups participated in the short-film contest. The US Ambassador and Sir Fazle Hasan Abed, founder and chairperson of BRAC handed over prizes to the winning team of Dhaka University for their film, “Respect Nature”. Teams of Independent University, Bangladesh and Jahangirnagar University won the second and third prizes respectively. Pathshala South Asian Media Institute won the Viewer's Choice award as the most popular film. The jury panel of Dr. Karl Wurster, team leader of USAID Global Climate Change, Troy Beckman, Development Outreach and Communication Specialist, cinematographer Rashed Zaman, and Zara Jabeen Mahbub, head of Corporate Communications of Brac Bank, reviewed and scored all of the 11 films.
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Rancon Motors Limited, the Authorized General Distributor of Mercedes-Benz in Bangladesh has officially launched the new GLC on 20th April 2016 to enhance its SUV portfolio. The new GLC is a powerful, dynamic SUV that combines sporty agility with strong off-road credentials. GLC makes an exciting addition to the new generation SUVs from Mercedes-Benz, taking every drive to a whole new level. COO of Rancon Motors Limited, Shoeb Ahmed inaugurated the event. Head of Sales, Safayet Chowdhury and Head of Marketing, Khaan M Sakib Us Salehin were also present at the ceremony. Mr. Shoeb Ahmed said during the inauguration, “We consistently present innovative automobiles that features state-of-the-art technologies and embody our core brand values of perfection and fascination. This year, we are boosting our SUV presence by introducing the new GLC which combines the ultimate driving performance and comfort with luxurious touches and top-notch safety systems.”
Denim Expo Held
The Denim Expo was held recently where buyers and sellers from all over the world participated. A total of 49 exhibitors from Bangladesh , India , Pakistan , Brazil , China , Germany , Italy , Japan , Singapore , Spain , Turkey and Vietnam displayed their products. Buyers expressed their satisfaction in being able to interact with exhibitors of the entire denim value chain under one roof. One panel discussion on the evolution of the denim industry was also held during the expo.
Dhaka Regency Celebrated its Annual Corporate Night 2016
Dhaka Regency Hotel & Resort celebrated its Annual Corporate Night 2016 on April 7, 2016. The night was principally designed to purely entertain all of the valued and prestigious clients of Dhaka Regency in its venue with its magnetic atmosphere and musical performances by prominent artists, S.I Tutul and Naoumi. The program was held in the Celebration Hall, which is on 14th Floor of the hotel with the presence of the distinguished guests and corporate figures from the Airlines, Hotels, Clubs and Financial Institutions sectors. Mr. Shahid Hamid FIH, Executive Director of the Dhaka Regency inaugurated the grand night with his opening speech and expressed his gratitude on behalf of the owners and management to the honorable clients, reward partners and invited guests. A raffle draw with exciting and exclusives gift hampers was another attraction of the corporate night. The program was ended up with a buffet dinner and a hope to continue this celebration with more attractions in the coming years. www.icebusinesstimes.net
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