The Empirical Study on the Impact of the COVID-19 on Small and Medium Enterprises (SMEs) in Bangladesh

Rahman, Md. Motiur; Bhuiyan, Mohammad Rakibul Islam; Alam, S. M. Ashraful

doi:10.51519/journalisi.v6i1.686

Cited by 3 publications

(1 citation statement)

References 18 publications

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“…AI models that are easy to understand and provide explicit explanations for their judgments. This will allow users to comprehend and verify the reasoning behind AML warnings and recommendations (Rahman et al, 2024).…”

Section: Transparency and Explain Abilitymentioning

confidence: 99%

Gravitating towards Artificial Intelligence on Anti-Money Laundering A PRISMA Based Systematic Review

Milon

2024

Intl. J. Rel.

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In Bangladesh, like many other countries, the implementation of Anti-Money Laundering (AML) measures plays a crucial role in the fight against financial offences and the maintenance of the financial system's integrity. The integration of Artificial Intelligence (AI) is one of the technologies for AML that has emerged as a promising approach to enhance the detection and prevention of financial crimes. The researcher aims to investigate the current state of AML, the impact of AI, the roles involved, and the legislation to achieve economic stability for the transformation of Bangladesh into a smart nation by 2041. In this systematic review study, the PRISMA framework is utilized to provide a comprehensive analysis of existing literature on the application of AI in AML, with a focus on risks, laws, and implications, particularly within the context of Bangladesh. The review synthesizes findings from diverse sources (Web of Sciences, Scopus, PubMed, and DOAJ indexing articles and reports) including academic research, industry reports, and regulatory documents, to assess the effectiveness, challenges, and ethical considerations associated with AI-driven AML solutions. Through a structured search strategy and rigorous selection criteria, the researchers discovered a total of 299 research papers, consisting of 181 latest studies and 117 previous relevant studies identified and analyzed to elucidate key trends, methodologies, and gaps in the current landscape of AI-enabled AML practices. The review also offers insights and recommendations for policymakers, practitioners, and researchers interested in leveraging AI technologies to combat money laundering effectively while navigating regulatory frameworks and safeguarding privacy rights. By critically examining the intersection of AI, AML, and legal frameworks, this study contributes to the ongoing discourse on the role of technology in addressing financial crime challenges in Bangladesh and beyond.

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Section: Transparency and Explain Abilitymentioning

confidence: 99%

Gravitating towards Artificial Intelligence on Anti-Money Laundering A PRISMA Based Systematic Review

Milon

2024

Intl. J. Rel.

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Industry Readiness and Adaptation of Fourth Industrial Revolution: Applying the Extended TOE Framework

Bhuiyan

2024

Human Behavior and Emerging Technologies

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The research aspired to determine the effecting determinants of the implementation of Fourth Industrial Revolution (4IR) technologies in the manufacturing industry, examining how 4IR readiness (R) acts as a mediator to facilitate the process of 4IR adaptation (ADP) in Bangladesh. Employing the extended technology–organization–environment (TOE) framework, the research method integrated both quantitative approaches and structured surveys using random sampling approaches to explore the specific determinants that influence the adoption of 4IR technologies. A total of 500 organizations were approached with an online questionnaire, yielding 370 completed responses, a response rate of 74%. After ensuring the reliability and validity of the findings, the structural equation model was analyzed using SmartPLS 4.0 and SPSS 29 with structural equation modeling (SEM). A statistically significant positive correlation was observed among technology readiness (TR), government support (GS), and technology innovation decision‐making (TIDM) on 4IR R, as well as 4IR R on 4IR ADP based on the findings. Practical implications were discussed with a focus on strategic recommendations for policymakers and industry leaders to enhance the structural and supportive infrastructure necessary for 4IR integration. To extend the R and flexibility of the manufacturing sector in anticipation of the 4IR, policymakers must urgently contemplate the expansion of government aid and the formation of expert consulting groups. The originality of this study applied in its ADP of the TOE framework to the context of a developing country, specifically targeting the R factors that facilitate technological ADP in Bangladesh. Unlike traditional models that focus solely on technological adoption, this extended model integrates organizational and environmental factors, offering a comprehensive view of industry R. The findings highlighted the significant positive correlations between technology infrastructure R, governmental support, and decision‐making processes in technology innovation, which distinguish this model by its specific ADP to the developmental and economic conditions in a developing economy like Bangladesh.

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Understanding the Economic Consequences of COVID-19 on Small and Medium Enterprises in Rajshahi City, Bangladesh

Aornob,

Hossain

2024

JPOME

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The COVID-19 pandemic has brought unprecedented challenges to small and medium-sized enterprises (SMEs) worldwide, including those in Rajshahi City, Bangladesh. This study investigates the impact of the pandemic on SMEs in Rajshahi, focusing on various sectors such as restaurants, coffee shops, beauty parlours, and retail stores. Through a quantitative research methodology involving primary data collection from 100 SMEs, the study examines the challenges faced by these businesses during the pandemic, changes in input and output values, strategies adopted for survival, and the effectiveness of government policies in mitigating the impact. Results indicate significant disruptions in SME operations, with a notable percentage of employees unable to work and financial struggles arising from rent payments, loan repayments, and reduced revenues. The majority of SMEs have contemplated or implemented layoffs to cope with the economic downturn. To address financial challenges, SMEs are considering various measures, including seeking loans, negotiating with lenders, and reducing operating costs. Moreover, SMEs are exploring strategies such as increasing marketing efforts, developing online sales platforms, and making capital expenditures to adapt to the new normal. Government support, particularly in reducing rent and financing costs, is seen as crucial by SMEs for their survival and recovery. Overall, the study highlights the urgent need for comprehensive crisis strategies, accurate financial assessments, and support for online sales channels to ensure the resilience of SMEs in Rajshahi City. Government initiatives should be expanded to include all affected industries, thereby providing a more inclusive and effective response to the challenges posed by the pandemic.

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The Empirical Study on the Impact of the COVID-19 on Small and Medium Enterprises (SMEs) in Bangladesh

Cited by 3 publications

References 18 publications

Gravitating towards Artificial Intelligence on Anti-Money Laundering A PRISMA Based Systematic Review

Gravitating towards Artificial Intelligence on Anti-Money Laundering A PRISMA Based Systematic Review

Industry Readiness and Adaptation of Fourth Industrial Revolution: Applying the Extended TOE Framework

Understanding the Economic Consequences of COVID-19 on Small and Medium Enterprises in Rajshahi City, Bangladesh

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