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Despite being a Muslim-dominated country, Bangladesh has widely embraced traditional microfinance since its inception in the mid-1970s. However, Islamic microfinance, which has a lot to offer to the poor, is still in its infancy and has yet to gain momentum in the country. Therefore, the purpose of this study is to analyze the importance of Islamic microfinance and propose alternative Shariah-compliant microfinance models in Bangladesh.

This study is based on the desk research method, which relies on existing literature to collect secondary data on key concerns of traditional microfinance programs. In addition, institutional-level secondary data were also collected from the Microcredit Regulatory Authority (MRA) of Bangladesh. Guided by the Maqasid-al-Shariah, this study then proposes several Islamic microfinance models to overcome selected challenges faced by the microfinance industry in Bangladesh.

This study suggested three composite Shariah-compliant microfinance models, which are likely to help the underprivileged and thus ensure the achievement of the sustainable development goals in Bangladesh. The first model explained how the operational strategy of incumbent microfinance institutions (MFIs) could be restructured, while the second proposed the organizational strategies for establishing a new MFI. The third model used the notion of Sadaqah (charity) to address the multiple borrowing issues of the industry. Meanwhile, the successful transformation of the conventional microfinance industry to an Islamic one is dependent on the effective collaboration between the regulatory authorities, practitioners and MFIs.

Albeit the paucity of literature on the topic, the findings of this study will guide policymakers/practitioners in designing relevant microfinance models to help transform conventional microfinance into Islamic microfinance in Bangladesh.

The paper aims to propose and validate a process-based model to enhance managerial effectiveness among micro, small and medium enterprises (MSMEs). It has been observed that business uncertainties and inadequate financial resources that MSME entrepreneurs and managers face require them to constantly engage in strong self-awareness and self-regulating behavior to enhance the efficacy in their roles and, henceforth, their role performance effectiveness.

The approach for data collection was based on the clustering of MSMEs belonging to the clusters machine tool, pump manufacturing, foundry, textile and auto-component clusters in India. The respondents to the study were MSME entrepreneurs and managers who oversee and manage multiple functions like operations, quality, marketing, sales, supply chain management, procurement, personnel and administration and general administration.

The self-efficacy of entrepreneurial managers of MSMEs is observed to play an integral role in enhancing the efficacy of their roles, thus highlighting the use of a process-based perspective while dealing with constant resource constraints and excessive dynamism in their business contexts. The ability to handle multiple tasks effectively and resilience to manage challenges enhances their role-making process, which is significant in achieving and sustaining goal-oriented behavior among MSME entrepreneurs and managers.

This paper would serve as an effective model for entrepreneurs and managers to enhance their efficacy in the individual and interdependent role context, which would help achieve their individual and organizational goals. The model emphasizes a process-based perspective that thrusts the need to relate to the organizational context, enhancing individual confidence for goal-related behavior and fulfilling their role-related expectations.

This paper presents a model of enhancing managerial effectiveness that discusses self-efficacy as antecedent behavior. Here, personal and environmental factors aid cognition to one’s capability to construct reality, self-regulate, encode information and engage in effective managerial action.

Of critical concern to the world is the need to reduce consumption and waste of natural resources. This study provides a multi-level exploration of the ways situational and transformational links between levels and challenges are related to the adoption and utilization of material flow cost accounting in Vietnam, to encourage green productivity.

Based on triangulation of public documents at different institutional levels and a set of semi-structured interviews, situational and transformational links and challenges for material flow cost accounting in Vietnam are examined using purposive and snowball sampling of key actors.

Using a multi-level framework the research identifies six situational and transformational barriers to implementation of material flow cost accounting and suggests opportunities to overcome these. The weakest links identified involve macro-to meso-situational and micro-to macro-transformational links. The paper highlights the dominance of meso-level institutions and lack of focus on micro transformation to cut waste and enable improvements in green productivity.

The paper identifies ways for companies in Vietnam to reduce unsustainability and enable transformation towards sustainable management and waste reduction.

The paper is the first to develop and use a multi-level/multi-time period framework to examine the take-up of material flow cost accounting to encourage transformation towards green productivity. Consideration of the Vietnamese case builds understanding of the challenges for achieving United Nations Sustainable Development Goal number 12, to help enable sustainable production and consumption patterns.