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1 – 6 of 6Halima Begum, Kashif Abbas, A.S.A. Ferdous Alam, Huaming Song, Mohammad Tayub Chowdhury and Ahmad Bashawir Abdul Ghani
The purpose of this study is to address the global COVID-19 pandemic related to its sustainability, such as environmental, economic and social concerns. The short study also…
Abstract
Purpose
The purpose of this study is to address the global COVID-19 pandemic related to its sustainability, such as environmental, economic and social concerns. The short study also examined how various innovative approaches can help promote sustainable production.
Design/methodology/approach
The methodology examines hypothetical scenarios of the current pandemic and tries to describe the quality of evidence to facilitate careful, critical engagement by readers. Secondary data is used to identify sustainability challenges, such as environmental, social and economic viability challenges. The information in this report was gathered from numerous media outlets, research agencies, policy papers, newspapers and other sources to gain a better knowledge of the issue.
Findings
As a result, most industry executives and policymakers are looking for appropriate strategies and policies to improve their practices and meet consumer demand. The outcomes explore that the COVID-19 pandemic is a central factor in changes in people’s behavior, reflecting sustainability such as environmental, social and economic responsibility. The COVID-19 outbreak, surprisingly, had a bigger effect on sustainable consumption, accompanied by environmental sustainability, and, to a lesser extent, social and economic viability.
Research limitations/implications
Limited secondary evidence and data could not scrutinize the study’s actual problem statements. Hence, it is recommended that the gap in research be fulfilled by conducting a primary survey among various groups of economists, environmentalists and industrialists using the cluster sampling technique by validating the questionnaire of the total sustainable production system. Proposing frameworks for improving the resilience of production and a systematic possible upgraded manufacturing system by using the Industry 4.0 technology during operational processes could advance market demand.
Practical implications
The COVID-19 scenario has compelled manufacturing firms to put their production systems on hold for an extended period while they seek long-term solutions to assure simple delivery and cooperation from both business and consumer standpoints. Various aspects of supply and demand are discussed in the referendum, as well as production and consumption challenges during the COVID-19 era. There is a need to restore the production system and find the right source of raw materials. This work focuses on commodity inventory management systems due to mass production, but due to pandemics, it is not in demand and vice versa. The researcher made comprehensible remarks on the use of digitization in the pandemic, which improves social distancing and social well-being and promotes the production system as well. Besides, manufacturing plants should switch to digital manufacturing to reduce the number of workplaces and hence the risk of an outbreak. Therefore, a better supply chain network is needed to supply more manufacturing units.
Social implications
There is a bright side of coronavirus that the public health crisis raised worldwide has brought many opportunities for governments and society to make eternal reforms in the public health sector door. During restricted movements for fulfilling market demand, the Industry 4.0 technologies for automation, mechanization and digitalization can help significantly advance a company. This technological advancement and computer digitization for the perspective people may improve the environment, economic and social sustainability also increase social media adoption, which can be crucial for agri-businesses to evaluate customers’ behavior and consumption trends.
Originality/value
The paper also instructed to identify critical success factors, barriers and drivers for dealing with the pandemic situation and to develop a strategic policy framework to improve production and process flexibility through the remarkable introduction of digital manufacturing. Before it is too late to stop the spread, producers and consumers must grasp the limits to which suppliers might drive nature.
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Halima Begum, A.S.A. Ferdous Alam, Md Aslam Mia, Faruk Bhuiyan and Ahmad Bashawir Abdul Ghani
Though microfinance has been working for many years as a tool to eradicate poverty from its root, most of the least developed and developing countries are yet to significantly…
Abstract
Purpose
Though microfinance has been working for many years as a tool to eradicate poverty from its root, most of the least developed and developing countries are yet to significantly alleviate it from the society. The purpose of this paper is to focus on Shariah-based microfinance products in the context of sustainable poverty alleviation approach and provide them financial benefits to enhance their livelihoods.
Design/methodology/approach
Here, this qualitative study critically analyzes the basics of the sustainable Islamic microfinance to exterminate the level of poverty.
Findings
Islamic microfinance is a more ethical practice than the traditional motives of profit maximization, and it encourages extending the time of repayment if the debtors are in hardship. In some case, it suggests to give charity if the creditor has capability.
Research limitations/implications
Most importantly, research scholars and experts have already criticized the concept of conventional microfinance on the basis of various points, especially for its high rate of interest.
Social implications
Islamic microfinance is provided with a view to fulfill two tools simultaneously, i.e., social and financial inclusion. In this case, credits and Zakah can be given to the extreme poor people for satisfying basic needs. In terms of social responsibility, Islam encourages the people to be soft in case of collecting the lending money.
Originality/value
The study discoursed that sustainable Islamic Microfinance (IM) may be a promising future option to draw the attention of the religiously sensitive people toward the Shariah-based microfinance which can, in turn, mitigate the poverty level.
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Rabiul Islam and Ahmad Bashawir Abdul Ghani
The purpose of this paper is to investigate the relationship among energy consumption (EC), carbon dioxide emission, economic growth, foreign direct investment, population…
Abstract
Purpose
The purpose of this paper is to investigate the relationship among energy consumption (EC), carbon dioxide emission, economic growth, foreign direct investment, population, poverty, and income of four Association of South East Asian Nations (ASEAN) countries, namely, Malaysia, Singapore, Brunei, and the Philippines.
Design/methodology/approach
An econometric analysis was used to achieve the goal of this study taking the period of 1995-2014.
Findings
The results of the study motivated the researcher to recommend that four ASEAN countries, namely, Malaysia, Singapore, Brunei, and the Philippines should increase their energy efficiency, increase the share of green energy from their total energy use, and increase energy conservation in order to reduce the unnecessary wastage of energy.
Originality/value
The findings validate that economic growth, population, and income have positive and statistically significant impacts on EC, while carbon dioxide emission, foreign direct investment and poverty have negative impacts on EC for Malaysia. Economic growth, income and poverty have positive and statistically significant impacts on EC, while carbon dioxide emission, foreign direct investment and population have negative impacts on EC for Singapore. Carbon dioxide emission and foreign direct investment have positive and statistically significant impacts on EC, while economic growth, population, poverty and income have negative impacts on EC for the Philippines. Finally, economic growth, carbon dioxide emission and income have positive and statistically significant impacts on EC, while foreign direct investment, population and poverty have negative impacts on EC for Malaysia.
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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…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Originality/value
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.
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