Topics

16

Project-Based Teaching Learning / project based learning is interesting

« on: May 15, 2018, 07:38:23 PM »

I always try to do project based learning, like:-

* Bank Model Compettition
*Insurance policy Selling Compettition
*practical knowledge from professionals
*Industry Visit & many more

17

Share Your Recent Achievements / publication in ABDC listed journal

« on: May 15, 2018, 07:33:30 PM »

 Recently One of my papers has been published in Journal of Academy of Business & Economics,USA ( ABDC Listed)

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Use of Technology in Education / Moodle is on

« on: May 15, 2018, 07:29:32 PM »

Alhamdulillah! I am using blended learning platform with some innovation in my style, & the students are connected with me

19

BBA Discussion Forum / Banks lack remedial strategy while NPL rises worryingly

« on: November 13, 2017, 03:00:11 PM »

Some of Bangladesh's banks don't have 'in-depth' look into the problem of spiraling non-performing loans (NPL) while many others try to frame remedial strategies perfunctorily.

Such observations came out from studies on banking as well as financial sector at large as the NPL surge worries many quarters.

One finding shows that around 11 per cent of the country's banks did not have an 'in-depth' look into the issue of NPLs in the past year, despite a growing concern over the problem in the financial arena.

The recent industry-wide survey also revealed that around 3.0 per cent of the country's banks had not assessed their past NPL-reduction strategies at all while 36 per cent did so only on an ad-hoc basis.

The findings came out from the survey of the Chief Risk Officers at the banks on issues concerning NPL strategy in their institutions. Leading banking research and training institution Bangladesh Institute of Bank Management (BIBM) conducted the study.

The research findings come at a time when the ballooning NPLs is becoming a major issue with the country's banking industry and also triggering concerns and criticisms.

As per the central bank data, the volume of NPLs had increased by more than 21 per cent to Tk 621.72 billion by the end of 2016, swelling from Tk 513.71 billion a year before.

"The findings are genuinely surprising as we are struggling to find a bank for which NPL is not an issue in some capacity," said Sazib Azad, Senior Advisor of BIBM, who led the research initiative.

"Furthermore, if the bank itself is immune to the impact of NPL, even then they need to consider whether they are immune from structural or market-level impacts as well," he told the FE.

However, relevant survey results show the potential lack of such considerations as only 1.0 per cent of bank CROs taking part in the survey said that their banks are addressing potential dependence on "market assessment and strategy".

What is more surprising is that the NPL strategies of around 62 per cent of the banks are not signed off by the boards, the survey found.

"This is quite striking because given the severity of the non-performing-loan issue, the NPL strategy should be signed off by the boards," Mr Azad said, adding: "Boards are not only accountable for the health of the banks but are also in position to release resources to get to grips with the issue."

In addition, the survey result also revealed 31 per cent of the banks not communicating their NPL strategy across the bank.

"NPL, as an issue, needs to be addressed from ground up. But the results show that this is not happening at our banks," said an expert who was involved with research.

Meanwhile, 25 per cent of the CROs said they were not tracking the implementation and effectiveness of NPL strategy in their banks- something which, according to experts, is a 'cause of concern'.

"Given how critical an issue NPL exposure is, we would expect every CRO to track how the NPL strategy is being implemented, its effectiveness and how to improve matters to the Board Risk Committee and the Board," the banking experts said.

Meanwhile, the survey results also found that although 94 per cent of the banks had stress-tested their balance sheet in terms of NPL drag, this figure drops to 56 per cent while considering the impact to and from the wider economy, market and structural aspects.

It seems that 33 per cent of the banks do not formally consider this aspect, with a further 11 per cent not looking at this dimension at all, the researchers said.

Experts also noted that with Basel 3 farther putting capital under pressure, sensible banks should dynamically model the impact of key risks to their capital.

However, the survey results show 17 per cent of the banks are not doing so while 31 per cent doing it in a limited manner.

Asked whether their banks' risk-appetite-statement metrics reflected their NPL strategy, 36 per cent of the respondents said they do so in a limited capacity while a further 8.0 per cent are not doing that at all.

It was also found that 25 per cent of the C-Suites have specific NPL-strategy-related targets while 31 per cent of the CROs have the same.

Meanwhile, when asked whether they consider their NPL strategy to be embedded, just over half of them or 52 per cent of the survey participants said 'Yes'. This, according to experts, is clearly not fit for purpose given the severity of the NPL issue facing the banking sector.

"The first step in looking into the NPL issue is to assess internal capabilities to effectively manage NPLs. Next, external conditions or operating environment needs to be considered. Finally, the capital implications of the NPL strategy need to be analyzed," said Sajib Azad.

The findings of the survey will be shared with the stakeholders during the next CRO forum of BIBM expected to take place next month where the issue of 'Risk Culture' will also figure high.

"The biggest reason for the swelling of NPL in our banking sector is a lack of good governance. To check the ballooning of NPL, the internal governance of the banks has to be strengthened above all," Director-General of BIBM Toufic Ahmad Choudhury said.

Meanwhile, the survey also found banks tending to consider time-horizon, portfolio/ segment and exposure-level-based targets to be broadly equally important to their NPL strategy.

In terms of options preferred for reducing NPL, banks consider "change of exposure type" to be most effective (36 per cent), followed by active portfolio reductions (33 per cent) and hold/ forbearance (31 pe rcent).

source: The Financial Express

20

Business Administration / Vision for transport development necessary

« on: May 24, 2017, 03:37:02 PM »

A vision has been set for the development of the country and achievement of identified objectives. Unfortunately, no such vision for transport development exists.

Today Dhaka is one of the world's most crowded and congested cities. Although the city is less than 1.0 per cent of the country's total land area, it supports about 30 per cent of the urban population. A growing population of Dhaka has brought about quick changes in urban land use patterns and also created a considerable travel demand and resultant transport problem in Dhaka. The city's transport is predominantly road-based and non-motorised transportation (mainly rickshaws) has a substantial share. Its road network is nearly 3000 km (of which 200 km is primary, 110 km secondary, 50 km feeder and 2640 km narrow roads). Only 400 km of footpath is available for pedestrians of which 40 per cent are occupied illegally by vendors and others. There are more than 250,000 vehicles plying on a limited road surface and the resulting traffic jam causes wastage of energy and time and makes travel unpleasant and difficult.

Almost 80 per cent of our road accidents are caused by fuel-run vehicles. Public transport therefore needs to be prioritized in all future policies. Cheap prices of private cars have pushed the total number of cars up on the streets although the recent price rise of CNG had very little effect.

Sharmin Alam

East West University, Dhaka

21

Business Administration / Effective ways of searching jobs

« on: May 18, 2017, 11:54:57 AM »

The approach that we used to find a new job 10 to 12 years back is no longer fitting in this business era of 2017. The current job market and the projections for the foreseeable future indicated a lack of appropriate jobs for those who want them and are qualified for them. Moreover, the permanent changes as to how business continues to cut costs have made the job search process even more difficult. If you have not looked for a new position recently and now find yourself in a job search campaign, you will need to put a lot more effort in than you did in the past and you will need to build a personal brand to ensure that you stand out from the crowd.

Last week's topic of the career based radio programme 'Follow  your dreams' talked about the effective ways of searching jobs. M Murshed Haider, corporate coach and CEO of OptiMA HR Solutions, shared his experience on how to use networking as an effective tool for job searching and how to tap the hidden or untapped job market and get the desired job following the right steps.

In today's global environment there is considerable pressure on businesses to do more with less. Companies are looking for trustworthy talents at competitive rates, while wanting to create a flexible workforce that will allow them to scale up and down as needed. While most of the candidates look for jobs through some job sites and newspapers, total percentage of jobs published through those channels is only 20, hence, almost 80 per cent jobs are not even circulated and remain untapped by candidates. This huge hidden job market can be explored through proper use of social media, better networking approach, effective personal branding and being proactive.

Some of the tips given by Murshed during the show regarding effective networking are-- to make courteous initial contact, to ask for information, not a job, to try and have face-to-face meetings with industry mentors, to try to obtain several referrals from each person you contact and finally, to follow up and update them your progress.

Each episode of the show also covers 'Book review' section. Last week's show introduced the book 'How to sell an idiot' written by John Hoover and Bill Sparkman. This book is appropriate for the people who are in sales profession. This book discussed 12 steps to sell anything to anyone. Each episode of this show also contains a quiz. Winner of the quiz in each episode receives autographed book 'Master Password' written by M Murshed Haider and Gazi Yar Mohammed.

Career based radio programme titled 'Follow your dreams' is broadcast from Radio Shadhin 92.4 FM on every Thursday. The sixth episode of this programme is to be broadcast today (Thursday) from 8:00 pm to 8:30 pm and the topic for discussion is 'Career in consultancy', says a press release.
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BBA Discussion Forum / The realities of workplace frustration in Bangladesh

« on: May 18, 2017, 11:53:08 AM »

Human beings are compiled with tons of emotions. These emotions can be of happiness, of depression, of love, of frustration and of various other kinds of mental states. Employees of any organisation are human beings who work to contribute to the economic system of the nation and to improve individual lifestyle, living standards. In a word, employees are considered as working tools by the organisation. 

Human beings cannot avoid emotions and therefore, employees deal with their emotions in their working life. Their emotions are influenced by individual perceptions, ideologies, believes and concepts. Variations of these thoughts often lead employees to various conflicts. Conflict can result in internal anxiety, peer tension, unhealthy working atmosphere and ultimately frustration.  There are several conflicts that arise in any organisation either in an inter personal level or in an intra personal level.  An employee struggles to survive in an organisation to go through these conflicts, handles these in a professional manner to get rid of any sort of conflicts as well as to keep the working environment conflict-free and healthy. 

Many factors and reasons are related to these employee frustrations. These factors are important to be chalked out at first, to be understood properly and to be minimised or effaced gradually from the working atmosphere. When percentage of frustrated employees arises in an organisation, the organisation takes measure to minimise the intensity because it is an alarming situation for any organisation.

Frustration can be segmented into two new categories:

1. Process frustration:  A process frustration occurs when a person continuously feels blocked in a major area of life, such as learning, work, or love.  For example, insufficient salary and benefits at work creates the frustration in Mr. X.

2. Episode frustration: An episode frustration consists of a temporary impeding problem or condition. For example, initially Mr. X was happy at work, but gradually his supervisor's inconsistent, irrational and biased behaviour made him unhappy and gradually frustration caught him in the process.

Here in terms of any organisation and its various polices, this writer wants to present a case where an employee can be demotivated to severe level and finally can get frustrated in various ways:

Ms. X joined in a reputed telecom company as an executive right after her graduation. She has an urge to prove  herself and reach to her final goal. When this employee is slightly appreciated, or recognised for her work, she feels a drive to thrive for more. That person would require some extra benefits with good amount of Key Performance Indicator (KPI) and performance bonus along with some sound amount of increments or even a promotion. Let us assume the final destination would be to hold a top position from where she can lead the entire organisation with her vision. But, here the hindrances occur, and the barrier can be organisation's frequent policy changes that will make the employees like her rethink their career goals within that organisation.

However, despite Ms. X's dedication and sincerity at work, if she has not been promoted or does not receive the implied incentive from the organisation after a year then she would feel this as an extreme barrier to reach to her personal goal, which can be the topmost position or CEO of the company.

Some of our biggest frustrations in life can come from our work environment. It may be work that is unfulfilling, co-workers that we have difficulty getting along with, or demanding organisational structures that seem to strip us of our time and suffocate our passion and creativity. We so often refer to this complex and stressful situation with a blanket term like 'career burnout'. There are other obstacles such as inadequate training and training that is not aligned with business goals, lack of equipment to do their jobs, lack of a clear understanding of goals and objectives, lack of a shared understanding of priorities, not knowing boundaries of decision-making authority, ineffective work processes, work structures not aligned with business goals etc.

The mantra of 'doing more with less' has become the norm as business continues a slow recovery from the economic recession of the last several years. Employees who once feared losing their jobs are now feeling insecure about keeping their jobs. If managers truly want to retain the most engaged and committed employees, they must remove obstacles that cause frustration.

23

BBA Discussion Forum / Investment in human development

« on: April 26, 2017, 12:24:31 PM »

Big investments in education and training are prescribed for countries like Bangladesh where infrastructural facilities are not adequate. Since the SDGs are set for 2030, there should be a paradigm shift in development with special attention to education and training
Investment in human development is by far the best option open to all countries -only more so to the developing nations. Bangladesh now aims high in terms of economic growth. After the Millennium Development Goals (MDGs), the country has now set its sight on successfully achieving the targets as laid down by the United Nations under the Sustainable Development Goals (SDGs). It is exactly in this context, the imperatives for further investment in human resource development have come to the fore. At a seminar titled, "SDGs and Voluntary National Review (VNR) in Bangladesh: Perspective Citizen Participation", the speakers advocated for planned investment in human capital for inclusive growth. In a country with an oversize population, an effective demographic plan should receive top priority on its own -no matter if there is a vision for SDGs or not. The SDGs only provides a sense of purpose with the goals clearly drawn and analysed.

Now the next step is to decide on the ways and means to achieving the targets within the stipulated time. At the seminar emphasis was put on working out strategies and action plans for achieving the targets. First, institutional capacity building proves crucial in this regard. The civil society has asked for 'enough space' to participate in the development process. Their inclusion is not a debatable subject because of their privileged positions. Even more crucial is the capacity building of people belonging to the underprivileged and disadvantaged segment. This points at the priority areas of investment. Surely education should figure at the top of the list. The current investment of 1.9 per cent of the gross domestic product (GDP) in education falls far short of the need. No wonder Dr Qazi Kholiquzzaman who presided over the seminar suggested at least an investment of 17 per cent of the GDP in human development.

The reason why he made such a suggestion is quite clear. Apart from quality education, which unfortunately is absent in the country now, there is need for training, research, analysis, innovation and advancement of technological know-how. All this cannot be achieved overnight and without creating institutional facilities. It is because of this, big investments in education and training are prescribed for countries like Bangladesh where infrastructural facilities are not adequate. Since the SDGs are set for 2030, there should be a paradigm shift in development with special attention to education and training.

The kind of syllabi and curricula now introduced under the general education system does not rise up to the challenges of the time. Frequent experimentation with those does more harm than good. So the need is to strengthen the format of the steps of education first. All the nonsensical experiments should be stopped in favour of imparting education of international standard. Once this done, the rest of the tasks would prove easier. For example, research, analysis in laboratory or in an outdoor environment will provide for capacity building in educational institutions. Specialised training centres will give the finishing touch to developing human capacities and skills. Thus a package will be ready for honing in on human potential.

24

Commerce / Diversion of IPO funds

« on: April 23, 2017, 03:19:03 PM »

Deviation from set rules has become more of a norm in this part of the world mainly due to poor governance. Practices resorted to by companies listed with the bourses are no exception. Allegations have been aplenty that a section of those have been using proceeds, mopped up through the initial public offerings (IPOs) and right issues, for purposes other than the ones mentioned in their approved prospectuses. What is more frustrating is that such diversion of funds is done beyond the knowledge of the general shareholders, who, in a good number of listed companies are the majority equity stakeholders. All concerned, including the securities regulator, were certainly not fully unaware of the unauthorised use of IPO and right issue funds. However, no action was taken to deal with such a gross malpractice by a section of the listed companies.

Against this backdrop, the Bangladesh Securities and Exchange Commission (BSEC) in its meeting, held late last week, set a few conditions for using the IPO/right issue funds for purposes other than the ones originally approved by it. This move, though a belated one, is otherwise welcome. The companies, from now on, will thus require prior approval of, at least, 51 per cent of general shareholders in a general meeting if they want to make any deviation from the approved use of such funds. Prior to holding a general meeting, the proposed changes would have to be approved by their respective board of directors and published as 'price sensitive' information with detailed description and reasons for the deviation. Then, obviously, the proposals would need BSEC approval.

None would, surely, contest the fact that deviation from approved use of IPO/ right issue funds is improper and deserves punishment. But the securities regulator had so far been not effective enough to prevent such an irregular act. It could not properly monitor the use of funds mobilised by companies from the market through IPOs and issuance of right shares. As the regulator of the capital market, it is rightly expected that it would monitor the end use of funds closely. This is particularly so, because such funds are meant for making the listed companies financially strong and enabling them to expand their operations. Now that the BSEC has set conditions for any deviation, in area of use of proceeds from IPOs and right issues, the onus is on it (BSEC) to see that listed companies do duly comply with the conditions. It is critically important that the listed companies use their funds mobilised from stock market or otherwise, prudently.

One of the effective ways of looking into the use of funds of companies is proper examination of their financials. However, the financial statements need to be properly audited prior to the BSEC's examinations. That remains a grey area until now. Unscrupulous sponsors of some listed companies can easily get away with their financial irregularities on the backing of undue support coming from the audit firms. The government has in recent years taken a few initiatives and also passed a law called the Financial Reporting Act. But some actions, including formation of the Financial Reporting Council, under it are still lying pending. Those are long overdue. The government does need to complete its tasks on a priority basis to make the provisions of the Financial Reporting Act effective. This is imperative for streamlining the operations of the country's audit firms to enable the BSEC in its work.

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Real Estate / Microcredit for rural entrepreneurs

« on: April 23, 2017, 03:00:00 PM »

The joyous atmosphere, accompanied with lots of ceremonial festivities, in which small entrepreneurs are honoured these days in the capital has become a part of the nation's economic culture. It underscores a lofty goal -- patronising spirited entrepreneurship. This is essentially an urban spectacle. Set against it, the undaunted rural entrepreneurs in most cases remain unsung, except for isolated media exposures. Their ventures do not belong to the category of the institutionalised small and medium enterprises (SMEs). Beginning generally from scratch, these micro-level entrepreneurs finally make their presence felt through journeys marked by back-breaking labour, perseverance, bouts of disappointments and uncertainties. Many of them make pitiful exits being unable to face up to the harsh realities. A lot of others stubbornly remain stuck to their mission. Braving the scores of evidently present and hidden challenges, they do not give up. These struggling people are found comprising a remarkable segment of the purely self-made rural entrepreneurs.

The tale of a commercial set-up manufacturing different types of brushes in a remote village typically speaks of some youths' desperate, and also innovative, struggle for a dignified survival. Following a long risk-filled journey, they have proved their mettle in entrepreneurship. Ironically, all of them once worked for such brush factories in Dhaka. Coming back to their village, and upon setting up their own ventures, they now employ rural people in their brush-making units. Women constitute a large segment of these workers. Lately, these micro-level entrepreneurs are up against unhealthy competition. Their big institutional clients are being weaned away by smuggled foreign-made brushes, particularly from China, Taiwan and a number of other Asian countries. The new policy of these domestic buyers to go for foreign products despite their higher price has caught them unaware.  The clients point to the better-finished quality of those foreign items, a fact the brush manufacturers dismiss right away. As they maintain, if given adequate financial incentives, they too can produce quality items with costlier raw materials.

The dire straits in which the brush manufacturers have been thrust into is not unique. The hazard characterises many other such petty rural enterprises. Engaged in a desperate struggle for survival over a period, they wind up business to end up financially broken. All this speaks of the awful absence of protective financial shields that can help the grassroots business entities grow smoothly. Perhaps, it is the non-formal nature of these ventures, with no strong state endorsement, which stand in the way of their desired flourishes.

Periodic surveys conducted on village youths find them to be hardworking, dedicated and innovative. Many of them are drawn to commercial ventures on being prompted by an urge to be self-reliant. This particular factor is seen at play behind the rural women's willingness to start ventures indoors. That stimulus in the form of bank loans, microcredit to be precise, at a minimal rate of interest, for these entrepreneurs can go a long way towards helping them find a firm footing cannot be disputed. Myriad ventures ranging from producing vegetables, rearing poultry to making trinkets, toys etc., can be made eligible to government 'micro-loans', which is different from the formal microcredit programme.



 

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BBA Discussion Forum / Return of 'seating' bus service

« on: April 23, 2017, 02:57:24 PM »

For yet another occasion, the government has succumbed to pressure coming from, what appears to be the case, all-powerful owners of private passenger bus services in Dhaka city. The Bangladesh Road Transport Authority (BRTA) suspended Wednesday last its drive for a 'fortnight'---the serious doubts remain whether it would at all be resumed anytime soon or not--- against the illegal 'seating' bus service that had been in operation for more than two decades. The BRTA was left with no option other than putting on hold its action against the 'seating' service following untold sufferings of the thousands of commuters. The sufferings were thrust upon them by bus owners as the latter had decided to keep a large number of buses off the roads protesting the BRTA drive. Many buses did charge their passengers the fares of 'seating' service, even they did allegedly operate as 'local ones' during the period of the 'short-lived' operation.

Now that the service is back, the passengers' sufferings, in terms of availability of buses, is over, to a great extent. But they are being forced to pay fares at rates higher than before for availing the so-called 'seating' service. The bus owners have become more defiant because of the government's latest 'retreat'. The BRTA is reportedly engaged now in its efforts to devise means for providing a legal coverage to the 'seating' service. Some people do suspect that the recent drive was an 'agreed ploy' of both BRTA and bus owners to make the 'seating' service legal, capitalizing on the passengers' sufferings.

There is no denying that the country's road transport sector is gripped by a sort of anarchy. The situation has never been perfect. But in the recent times, it has turned worse. The popular perception is that involvement of politics and a few powerful political elements is largely responsible for the current deplorable situation in the road transport sector. Probably, they are not wrong. Never before the road transport owners and workers were so defiant; the transport workers give a damn to traffic laws and rules and they feel little remorse for taking lives on roads and highways by their rash driving. On an average, road accidents claim 15 to 20 lives per day and the people have become habituated to taking such tragic incidents as normal happenings these days.

But things have now gone, as the developments suggest, too far and it is in need of an immediate correction. However, this is a Herculean task. The daily turnover of road transport sector is worth several billions of takas. The financial benefits accrued from it go to people beyond the sector and, thus, the vested interests are widespread. Under the present socio-political context, streamlining the road transport sector thus presents a daunting challenge indeed. One way of addressing this challenge could be the breaking the dominance of private bus owners by putting in place strong alternatives. The proposed metro rail in Dhaka city will be one such alternative. The government should also strengthen the state bus service in the capital city without succumbing to any unwholesome counter-pressure from the private bus owners. Comfortable and efficient inter-district train services might prove to be other effective alternatives. The government should work seriously in its task of breaking the dominance of an unruly band of road transport owners.

27

MBA Discussion Forum / Volcker rule in Banking

« on: April 20, 2017, 04:39:13 PM »

Paul A Volcker, former chairman of the US Federal Reserve, who served for eight years from 1979, is tucked away in a corner office, surrounded by books, papers and some quirky family snaps, the epitome of the academic central banker, according to a global media report Tuesday.

Today he is probably best known for inventing the Volcker rule, a ban on banks wagering their own money on trading bets which is one of the key elements of America’s post-crisis Dodd-Frank legislation.

But as Wall Street lobbyists go into overdrive to try to ensure President Donald Trump stays loyal to his repeated pledges to deregulate the financial system, many are taking sharp aim at that rule.

It is hard not to see in the crumbling corridor outside Mr Volcker’s office a sad metaphor for the impending demise of his eponymous regulation.

Among the thousands of pages of Dodd Frank legalese, the Volcker rule is at least simple in its essence. As Mr Volcker and his supporters see it, this is one post-crisis law that makes sense to ordinary people. Banks that take in customer deposits, and only a few years ago relied on hundreds of billions of dollars of government support to survive, should not be allowed to risk their own money on dangerous punts - proprietary trading in the jargon. The buying and selling of securities should only be done on behalf of clients.

28

BBA Discussion Forum / BB asks banks to follow BCA duly

« on: April 20, 2017, 04:30:35 PM »

The central bank has instructed the commercial banks to follow the Banking Companies Act (BCA) 1991 (amended up to 2013) duly for repaying deposited money to the nominees after death of the depositors.

Bangladesh Bank (BB) issued a notification in this connection on Wednesday, and asked the managing directors and chief executive officers of all scheduled banks to follow Section 103 of the existing Banking Companies Act properly.

The central bank issued the notification after receiving allegations that some banks are collecting undertakings from the nominees of the depositors.

The undertakings state that the nominees might not be considered eligible receivers of the deposit in case of the depositors' death, which is a violation of the instruction as mentioned in Section 103 of the Act.

"We've clarified our position regarding the matter through issuing the notification," a BB senior official told the FE.

He also said the depositors are now allowed to include the names of more than one nominee while opening their accounts.

29

Business Administration / Emirates cuts flights on five US routes

« on: April 20, 2017, 04:28:39 PM »

Emirates, the largest international airline by passenger traffic, said it was cutting flights on five US routes as restrictions imposed by President Donald Trump’s administration had weakened demand from the Middle East.

Since taking office, Trump has signed two executive orders banning refugees and citizens from several Muslim-majority countries from visiting the United States. Although both moves were blocked by US judges, some travellers have been deterred.

The US administration also introduced new security measures in March banning electronic devices larger than a mobile phone from being taken into aircraft cabins on direct flights to the United States from several Middle East locations.

“The recent actions taken by the US government relating to the issuance of entry visas, heightened security vetting and restrictions on electronic devices in aircraft cabins have had a direct impact on consumer interest and demand for air travel into the US,” an Emirates spokeswoman said.

“Over the past three months, we have seen a significant deterioration in the booking profiles on all our US routes, across all travel segments,” the Emirates spokeswoman said.

Rival carrier Etihad Airways said it had not seen any significant change in demand and had no plans at present to reduce flights to the six US cities it serves.

Fellow Gulf carrier Qatar Airways had no immediate comment when asked about any plans it had for its US routes.

Emirates, based in Dubai, flies to 12 US destinations and had said it aims to serve 15 US locations by 2018. Emirates Chief Commercial Officer Thierry Antinori would not comment when asked on Tuesday if that target could change due to the restrictions imposed by the Trump administration, according to media reports.

30

BBA Discussion Forum / Provident fund for workers in informal sector

« on: April 20, 2017, 03:57:47 PM »

There is good news for workers in the informal sector. For the first time in the country's history, workers at the bottom rung of society will be brought under a formal system of financial security coverage. Rules have been formulated for them to enjoy the benefits of provident fund (PF). Most such workers earn a pittance and the question of savings, gratuity, insurance and pension does not arise at all. The proposed scheme will open up the opportunity for them to get the benefit of contributory provident fund. Workers ranging from domestic helps to farm labourers with others engaged in odd occupations in between will be eligible for the small but significant largesse. Initially 0.1 million such workers will be brought under the proposed scheme. This will be a major step in ensuring financial security for the workers not organised enough to demand a better deal for themselves.

Not protected by the labour law, the workers will be asked to open PF accounts with any branch of the post office across the country. The rule will be simple: workers in the construction sector, welding, etc., or self-employed small earners, such as vendors and blacksmiths, will deposit Tk 100 and the government will also contribute the same amount each month from what will be known as the workers' welfare foundation (WWF). The tenure of the PF would be 25 years and in case of discontinuation of deposits before five years, the contributory portion of the government will not be awarded. In case of permanent disability or death of a worker, his/her nominee will be entitled to receive Tk 0.2 million. For any fatal disease, Tk 0.1 million will be handed over. Even there will be provision for maternity benefits for female workers.

A financial programme such as this certainly has a bright prospect if it is run sincerely and efficiently. The motivation part of the exercise will, however, prove crucial. Once they realise that the government does care for them, they will readily respond most positively. However, there will be some practical problems involving opening accounts particularly when functional literacy of many of these workers is in doubt. Also, chances of irregularities and manufacturing account holders cannot be ruled out. Instead of the target people, others may take advantage of the generous scheme.

So, there is need for launching a social awareness campaign so that the most eligible segment of the population can take benefit of the PF scheme. Here the post offices should develop a foolproof mechanism in order to screen out the ineligible from the genuine candidates intending to open accounts. Now that every citizen is entitled to a smart card, the distribution of this among the population well before the start of the scheme can help the cause. Not only will this special identity card be of help in removing any confusion over a person's picture and other details but also in tracing him or her if needed. Let the scheme take off with the objective of dispensing at least some amount of social justice.