Microcredit - A More Credible Social than Economic Program in Bangladesh

Calculated under the framework of economic-profit counting, the productivity of microcredit in Bangladesh is found very low. In this survey about 48% of the borrowers had to compromise their normal wages for self-employed labor to be able to pay the high interest for the credit. Similarly its social productivity is also found marginal. However, about 90% of the borrowers felt comfortable with microcredit even at so high interest rate seemingly to avoid losing or compromising their social and political empowerment at the hands of the local moneylenders or relatives. Borrowers give high value to their socio-political empowerments and are ready to compromise normal wages for their self-employed labor. In the game of political economy of credit for the poor, microcredit is seen as a means of protecting and enhancing socio-political empowerments of the low income and distressed people in the society and is appraised as a credible social than economic institution.Grameen Bank, microcredit, microenterprise, subsistent, poverty alleviation, stereotype, empowerment

IoT Based Solar Powered Smart Waste Management System with Real Time Monitoring- An Advancement for Smart City Planning

In this paper, we proposed an IoT based solar-powered smart waste management system which is suitable for any kind city or town in both developed and developing countries that can ensure proper collection, transportation, and disposal of household and industrial waste with real-time remote monitoring. To maintain the green and clean environment around us, precise collection and disposal of garbage in a regular fashion are necessary. The primary goal of this research work is to provide a complete smart solution for waste collection and disposal hence ensuring a comfortable environment. The proposed system enables real-time remote monitoring of solar-powered several smart bins located in different points in the city which are connected to the control station through long-range (LoRa) communication device and also supervises the waste collector activities like collection and disposal time using Automated Vehicles Locating System (AVLS)

The Effects of Wages and Welfare Facilities on Employee Productivity: Mediating Role of Employee Work Motivation

Purpose- Garment employee productivity in Bangladesh is the lowest compared to its competitors such as China, India, Pakistan and Sri Lanka. The Bangladeshi Ready-Made Garment (RMG) industry will find it a challenge to survive in the global market unless they improve employee productivity. Therefore, the primary purpose of this study was to observe the relationship among wages and benefits, welfare facilities, employee work motivation and employee productivity. Design/Methodology/Approach- The study was conducted under the positivism philosophy for which Maslow’s Hierarchy of Needs Theory was used for framing the hypotheses. A deductive approach, explanatory research design and a quantitative methodology was followed in order to conduct the study. Through a questionnaire survey, twenty-five items were taken from existing literature to measure the variables. By a systematic probability sampling technique, 500 samples were collected from the target population. Thereafter, SPSS and SEM using Smart-PLS were utilised for analysing and developing the model. Findings- The outcome of the analysis revealed that all seven hypotheses were supported. Practical Implications- These findings will assist the policymakers, the government of Bangladesh, factory owners, managers and other stakeholders to formulate new policies and practices. Originality/Value- This study explores the relationship among wages and benefits, welfare facilities, employee work motivation and employee productivity which has not been explored theoretically and tested empirically in a Bangladeshi context. In the future, comparative research can be carried out by collecting samples from the EPZ (Export Processing Zone) and non-EPZ factories

The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries

This study investigates the short-term and long-term impacts of economic growth, trade openness and technological progress on renewable energy use in Organization for Economic Co-operation and Development (OECD) countries. Based on a panel data set of 25 OECD countries for 43 years, we used the autoregressive distributed lag (ARDL) approach and the related intermediate estimators, including pooled mean group (PMG), mean group (MG) and dynamic fixed effect (DFE) to achieve the objective. The estimated ARDL model has also been checked for robustness using the two substitute single equation estimators, these being the dynamic ordinary least squares (DOLS) and fully modified ordinary least squares (FMOLS). Empirical results reveal that economic growth, trade openness and technological progress significantly influence renewable energy use over the long-term in OECD countries. While the long-term nature of dynamics of the variables is found to be similar across 25 OECD countries, their short-term dynamics are found to be mixed in nature. This is attributed to varying levels of trade openness and technological progress in OECD countries. Since this is a pioneer study that investigates the issue, the findings are completely new and they make a significant contribution to renewable energy literature as well as relevant policy development

Assessment of accountability practices in the public sector in Malaysia / Jamaliah Said, Md. Mahmudul Alam and Razana Juhaida Johari.

Ensuring accountability in the public sector is a very crucial issue as it could lead to failures in governance, fraud, inefficacy, corruption as well as weak financial management. This study evaluated the state of the present accountability practices among public sector employees from various Malaysian service schemes. Primary data were collected, using a questionnaire survey approach with 194 heads of departments in the Malaysian federal ministries. Data was collected in accordance with the perspective of 12 factors in accountability practices, using a five-point Likert scale. Factor analysis and descriptive statistics were utilized for data analysis. In addition, data reliability was checked by the Cronbach’s alpha test; data normality was examined by the Skewness and Kurtosis tests, and data validity was tested by using the Kaiser-Meyer Olkin test and Barlett’s test. The findings show that 94.9% of the participants reported that they practised accountability within their departments. Nevertheless, the priority for these accountability factors varied according to the service schemes. In general, the perceived accountability practice was the highest within the group in the administrative scheme and the lowest among the employees under the accounting scheme. Moreover, the perceived accountability practice of the audit scheme was below the general average level. These findings would help policy makers to take necessary steps to improve the practices of accountability for creating a more dependable and efficient public sector in Malaysia

Social and Islamic entrepreneurships for social justice: A structural framework for social enterprise economics

Entrepreneurship is indispensable for progress of human civilization and effectively exploring and exploiting existing and potential resources for wellbeing of humanity.Modern economics operates basically through two major modes of entrepreneurships : the market/private sector economics relying on commercial entrepreneurships (self-interest centric) and the state/public sector economics relying on state entrepreneurships (public-well-being centric). However, both individually and jointly, have failed to ensure economics fundamental goal of well-being for human societies.In response, social enterprise economics (third sector), which features cooperatives and not-for-profit social enterprises in the name of foundations, trusts/awqāf, social businesses, and similar undertakings, has emerged as a make-up strategy to meet the minimum unmet requirements for social well-being.However, there is a strongly felt belief that the social enterprise economics needs to be broadened and mainstreamed in order to include entirely charitable institutions, predominantly not-for-profit operations, and predominantly for-profit businesses but blended with social justice via provision of social welfare programs like corporate social responsibility, etc., for its emancipation as a major economic system to be able to play a leading role for ensuring desirable economic growth and development.Islamic entrepreneurship, which is basically a community-centric mode of business initiative, is closely related to social entrepreneurship. It is an antidote to the problem of intolerable economic and social dualism and a natural strategy against all forms of capitalist exploitation to control world resources, like, in the past, through European colonialism, and now, through American-led state terrorism. It is the natural guard against economic inequity, wealth concentration, and social divides.Based on its potential and using examples from Bangladesh and Malaysia, we contend that the Islamic style social entrepreneurship is intellectually and operationally superior and more efficient for effectively widening and mainstreaming community-centric social enterprise economics to ensure development with equity and social justice. The paper aims to put forward social enterprise economics (third sector) for dialogue and research in the context of effective functioning of modern economies ensuring community well-being

Local Level Collaborative Governance for Pandemic Responses: Unpacking A Case in Bangladesh

Responsive governance during the COVID-19 pandemic became a severe challenge for countries worldwide. With a relatively poor healthcare structure, Bangladesh performed moderately well in managing the first wave of the pandemic (March-December 2020). With substantive policy and decision-making support from the Centre, local governments collaborated with various relevant actors to enhance their pandemic-related services. In this background, this research used an integrative framework to study a case of local-level collaborative governance-the Saturia Model. Based on the authors' experience, reflections and review, this analysis explores various socioeconomic and environmental factors behind the effectiveness of this collaboration in containment policies and providing support services to vulnerable groups. Findings indicate that coordination between state and non-state actors, resource mobilization, access and communication, community engagement and the adaptative capacity of the government are vital for making such collaborations work in a crisis. The lessons are valuable for prospective understanding and policy interventions

The impact of interest rate changes on the Islamic foreign exchange forward in the Malaysian derivative market

Islamic foreign exchange forward plays a significant role to mitigate various foreign currency exchange risks. The main challenge that impedes the development and operation of the Islamic foreign exchange forward as a hedging instrument is the behaviour of relying on existing conventional framework with core conception of relying on interest rate and excessive risk taking. This study utilized monthly data from April 2004 to October 2017 of the Malaysian derivatives market. This study found that in the absence of an alternative profit-rate related benchmark and cross border activities, Islamic banks are constrained to use the interest rate benchmark. In the short run, both medium term (6-months) and longer term (12-months) tenures indicate faster speed of adjustment possibility due to higher trading volume and less demand for the medium term for the Islamic foreign exchange forward contract. It implies a need of the Islamic foreign exchange forward as a longer term hedging instrument and not for a short term speculation and risk-taking purposes, as prohibited by shariah