Inclusive Development in Bangladesh

Mujeri, Mustafa K.; Mujeri, Neaz

doi:10.4324/9781003304296-6

Cited by 3 publications

(4 citation statements)

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“…Bangladesh is the world’s 41st biggest developing market economy and the second largest in South Asia. It is also considered one of the next 11 emerging markets (Mujeri & Mujeri, 2020). Bangladesh’s financial industry is also the third largest on the Indian subcontinent.…”

Section: Introductionmentioning

confidence: 99%

Stock Market Reaction to COVID-19: A Cross-Sectional Industry Analysis in Frontier Market

Adnan

Johani

2023

IIM Kozhikode Society & Management Review

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The effect of COVID-19 on the efficiency of frontier stock markets at the industrial level has received little attention. This study aimed to analyze the Dhaka stock exchange’s immediate market response to the initial COVID-19 announcement at the industry level. An event study approach was used to cross-sectional daily returns of 311 enterprises grouped into seventeen industry groups to determine anomalous returns for a total of 21 trading days divided into seven separate event periods. According to the findings, the average abnormal return and cumulative average abnormal return for the total market return for the event and the subsequent days were both negative and statistically significant. A cross- sectional industrial analysis found that, except for the paper and printing industries, all other sectors produced a considerably abnormal and uniform negative abnormal return. The most substantial negative cumulative average abnormal returns were seen in event windows (0, 0), (0, +1) and (0, +5), which might be attributed to post-announcement drift and inefficient market activity. Furthermore, when comparing the results of the Manufacturing and Non-Manufacturing sectors, the Manufacturing sector had more gloomy outcomes. The COVID-19 epidemic was proven to have negative effects on several industry groups, including those in the pharmaceutical, information technology and telecommunications sectors, which were expected to benefit from the outbreak. This is one of the few empirical studies that investigate the impact of the epidemic on the cross-sectional industry stock return in frontier markets. The results of this research will aid both international and domestic investors in their pursuit of the best possible portfolio composition.

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Section: Introductionmentioning

confidence: 99%

Stock Market Reaction to COVID-19: A Cross-Sectional Industry Analysis in Frontier Market

Adnan

Johani

2023

IIM Kozhikode Society & Management Review

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“…In Bangladesh, Mujeri and Azam (2018) argue that DFSs and mobile money technologies are critical in expanding access to financial services and promoting the DFI of vulnerable groups in developing countries. Researchers further observed that 'being both pro-growth and pro-poor, digital financial services will contribute to financial growth and stability on the one hand and promote rapid and inclusive growth to reduce poverty and inequality and promote shared prosperity and social cohesion on the other' (Mujeri and Azam, 2018). According to the researchers, the advantages of DFI include the closure of the financial inclusion gap, increased transparency and accountability, improved service delivery, reduced operational costs and improved efficiency.…”

Section: Opportunities Emanating From the Provision And Use Of Digita...mentioning

confidence: 99%

“…Mpofu (2022 a, b, d) alludes to the newly introduced digital services tax (direct and indirect) and mobile money taxes as some of the hindrances to DFI, as these taxes heighten the costs of transacting, the prices of digital devices and mobile devices as well as the costs of data and internet connectivity. In Bangladesh, Mujeri and Azam (2018) portend that some of the hindrances to DFI include stringent and ever-evolving regulatory frameworks, ineffective coordination, risks, and fraud, lack of comprehensive national strategies on DFI, inadequate regulatory frameworks, weak penetration of DFSs. The researchers also refer to weak digital capacities, lack of information and understanding of DFS, and consumer needs.…”

Section: Challenges Faced In the Provision And Use Of Digital Financi...mentioning

confidence: 99%

Industry 4.0 in Finance, Digital Financial Services and Digital Financial Inclusion in Developing Countries: Opportunities, Challenges, and Possible Policy Responses

Mpofu

2024

IJEFI

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Fintech and the adoption of Fourth Industrial Revolution (industry 4.0) technologies have expanded the provision and uptake of digital financial services (DFSs) globally. Digital transformation in the financial industry intended to modify financial service provisioning by reducing the costs of accessing and challenges such as inaccessibility due to remoteness, not having a bank account, not having a credit history, or having erratic incomes. Digital financial inclusion (DFI) aims to ensure that financial services, such as deposits, payments, transfers, withdrawals, investments, accessing insurance and credit, checking account balances, receiving money, and making international remittances, are conducted conveniently, easily, safely, reliably, and affordably. DFI focuses on ensuring access to financial services through digital channels and platforms for individuals, businesses, and households, to promote financial inclusion for all stakeholders, especially previously financially excluded groups. Through a critical review of the literature, this study explores the opportunities and challenges of DFI or the adoption and use of DFS. The review unpacks the possible benefits of using DFSs, which include the broadening financial inclusion, increasing diversity and innovation in the financial services sector, attainment of the SDGs, reduction of poverty, increased economic growth, and minimization of the gender financial inclusion gap, as well as reduction in inequalities. The constraints include the inadequacy of digital infrastructure, taxes on DFS, literacy challenges, digital exclusion, poverty and the gender divide, risks, and lack of trust in the financial services sector. The study recommends appropriate regulation and oversight, literacy enhancement initiatives, investment in digital infrastructure, and increased consumer protection as measures to improve DFI in developing countries.

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“…In Bangladesh, the DFS landscape fosters collaboration between clients, established businesses, and startups, with value creation strategies focused on competition and cooperation among industry actors. Open innovation projects have been pivotal in forging these mutually beneficial relationships and enhancing organizational innovation capabilities [13]. Favorable regulations, reliable telecommunications infrastructure, and numerous digital finance initiatives have supported the adoption of DFS applications in Bangladesh.…”

Section: Dfs and Open Innovationmentioning

confidence: 99%

Impact of Digital Financial Services on Customers’ Choice of Financial Institutions: A Modified UTAUT Study in Bangladesh

Rahman¹,

Rahman²

2023

IJSSE

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This study investigates the factors influencing customers' choice of financial institutions in Bangladesh, focusing specifically on the role of Digital Financial Services (DFS). The study explores the relationship between trust, risks, benefits, social influences and intention to choose financial institutions through DFS. The research adopts a quantitative methodology and employs Structural Equation Modeling (SEM) to analyze the data collected through a survey that use digital financial services in Bangladesh. The study examines by the modified UTAUT model to explore the direct and indirect relationships that influence the intention to choose financial institutions through using DFS. The results reveal that 'Benefits' and 'Social Influences' have a significant positive impact on the choice of financial institutions through DFS in Bangladesh, while 'Trust' and 'Perceived Risks' demonstrate an insignificant relationship with 'Users' Intention' to choose financial institutions through DFS. This study contributes to the literature on digital financial services (DFS) adoption by examining the factors influencing customers' choice of financial institutions in Bangladesh. Also, the research adds value by incorporating a modified theory of UTAUT model for finding the appropriate relationship among the variables. The findings highlight the importance of understanding the complex factors affecting customers' preferences for financial institutions and emphasize the need for financial institutions in Bangladesh to prioritize not only building trust and managing risks but also leveraging social influences and the benefits of using DFS to attract and retain customers. Finally, it also suggests important insights for financial institutions in Bangladesh to better attract and retain digitally-savvy customers.

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Inclusive Development in Bangladesh

Cited by 3 publications

References 0 publications

Stock Market Reaction to COVID-19: A Cross-Sectional Industry Analysis in Frontier Market

Stock Market Reaction to COVID-19: A Cross-Sectional Industry Analysis in Frontier Market

Industry 4.0 in Finance, Digital Financial Services and Digital Financial Inclusion in Developing Countries: Opportunities, Challenges, and Possible Policy Responses

Impact of Digital Financial Services on Customers’ Choice of Financial Institutions: A Modified UTAUT Study in Bangladesh

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