Business
IBBL Cumilla holds business development conference
Islami Bank Bangladesh Limited (IBBL) Cumilla Zone recently organised a business development conference on a virtual platform.
Mohammed Monirul Moula, managing director and CEO of the bank, addressed the programme as chief guest and Md Omar Faruk Khan, additional managing director of the bank, as special guest.
READ: IBBL Rangpur holds business development conference
Taher Ahmed Chowdhury, deputy managing director, and Mohammad Ali, chief risk officer, also joined the programme.
Senior executive vice-presidents Md Siddiqur Rahman, Mohammed Shabbir, Md Mahboob Alam, and Assistant Vice-President AM Shahidul Amran spoke at the conference as well.
READ: IBBL Dhaka Central holds business development conference
Md Mahbub-A-Alam, head of Cumilla Zone, presided over the conference, according to a press release.
Robi maintains strong growth momentum with 47 crore taka profit
Robi ended the second quarter of the year with profit after tax (PAT) of 47 crore taka. Supported by steadily rising revenue and efficient cost management, the company’s PAT for the first half of the year reached 81 crore taka. Robi’s financial results for Q2’21 was released today at a virtual press briefing event.
Compared to Q1’21, Robi’s 4G subscriber base grew by 7.5% in Q2’21, but compared to the same quarter last year, its 4G subscriber base grew by 65%. Out of a total subscriber base of 5 crore 18 lakhs, close to 2 crore are 4G subscribers. Besides, 72.4% of the company’s subscribers are now data users, which is highest in the industry; per user data usage per month is also rising rapidly- it now stands at 3.9GB, indicating that Robi’s strong 4.5G network is winning the confidence of the digitally savvy customers.
Read: Robi partners with SKS to help Covid-hit low-income people
Although the subscriber base grew by 8.1% compared to the same quarter last year, compared to the last quarter, Robi’s subscriber base declined marginally by 0.2% in Q2’21. Robi’s subscriber market share stood at 29.4% at the end of Q2’21.
Despite the pandemic related lockdown, Robi’s revenue reached 2,031 crore taka following a rise of 2.5% in Q2’21, compared to the last quarter. Compared to the same quarter last year, Robi’s revenue rose by 15.2%. Voice revenue grew by 1.4% in Q2’21, compared to the last quarter, but compared to the same quarter last year, voice revenue grew by 13.7%.
Data revenue on the other hand have been speeding up at a faster rate with 3.6% growth in Q2’21, compared to the last quarter. Compared to the same quarter last year, Robi’s data revenue grew steeply by 21.9%.
Robi’s EBITDA in Q2’21 stood at 854 crore taka, following a rise of 5.2% compared to the last quarter, but compared to the same quarter last year, EBITDA declined by 3.2%. EBITDA margin at the end of Q2’21 stood at 42.1%.
Read: Robi, DNCC sign deal 'to build a smart Dhaka'
The company’s earnings per share (EPS) at the end of Q2’21 reached 0.09 taka, following a rise of 36% compared to last quarter, compared to the same quarter last year, the underlying EPS growth rate was 17.8%. Steadily rising EPS is the result of organic EBITDA growth.
Robi made capex investment of 584 crore taka in Q2’21 to expand its 4G network. The company had 13,545 4G sites at the end of Q2’21 ensuring 98% population coverage; it was the first company to deploy 4G technology in 100% of its network. Robi paid 1,138 crore taka to the Government exchequer which was 56% of its revenue for the quarter.
Commenting on the financial performance of the company, Robi’s Managing Director and CEO, Mahtab Uddin Ahmed said: “We are very happy to see that our digital vision has already begun to contribute significantly to our financial performance. We are efficiently managing our cost while continuing with experiments with innovative digital technologies to future-proof the company.
Reflecting on the company’s role in the pandemic situation, he added: “We are proud to be supporting the national call center, 333, which has been repurposed to serve the citizens as the Covid helpline. 333 is also enabling digital service delivery to citizens at their doorsteps. With Robi-10 Minute School, we are providing quality educational content to more than 3 million students of all ages every day.”
Read: Robi deploys 4.5G technology in all its network sites
But the regulatory landscape continues to concern Mahtab. Citing the lack of effective implementation of the SMP regulation, he observed that the overall competitive distortions are pushing the market to the brink of failure, and such fragile state of the competitive landscape is making it difficult to achieve the condition of economic efficiency.
Mahtab noted that distorted price mechanism and distribution system are undermining consumers’ interest and weakening the telecom industry to the detriment of the Digital Bangladesh vision. He stressed that for a market to operate efficiently, no single entity should be allowed to dictate the price and output decisions. However, in our market, the presence of significant monopoly power is discouraging the competition from investing in innovative digital technologies that are crucial to the future of the country, he quipped.
Top 10 Digital Marketing Trends to Watch Through in the Upcoming Years
With over 4.66 billion active internet users in the world, access to digital content is now easier than ever. Many businesses and organizations are using different digital platforms to boost their prospects to the potential client base. But the client base is always dynamic. There is a constant change in people's tastes and behavior. Businesses and organizations are having to constantly cope with these changing trends. The digital marketing trend has shifted considerably in 2021 due to the pandemic. So, what is digital marketing? And what are the digital marketing trends in the Upcoming Years? Let's find out.
What is digital marketing?
Digital marketing is the process of marketing a product or service to a potential client through the use of digital content and the internet. Almost 59.5 % of the entire global population has access to the internet. The internet access rate is over 86% in the developed countries. It can be easily understood that digital marketing is a sure-shot way of reaching potential customers.
With different social media and google, people have access to more content than ever before. There is the concept of F-commerce surrounding Facebook alone. The concept is quite simple. Using the existing social media and its user base to set up a business and cater to a specific client base. Digital marketing is the process of showcasing the product to the potential customer.
Read Digital Marketing in Bangladesh
Digital marketing can be done in any form and on any platform. Whether it's through advertisement or through boosting your business page. The simple use of SEO is also included in the concept of digital marketing. As the world moves forward, access to the internet will become more streamlined. Hence, digital marketing is emerging as an effective way of generating and retaining a customer base across the board.
Top 10 digital marketing trends observed in 2021
The Featured Snippet
A featured snippet is also known as no search content. This is essentially the easiest way to rank in Google’s SERP. The featured snippet is aimed to answer the specific question of the client when they google. It shows up as a highlighted text on top of the search results. However, the trick here is to write just enough to pique the interest of the client so that they ultimately click on the link.
Read: The Emerging Logistics Tech Startups, Courier, Delivery Services in Bangladesh
Customer segment
There was a time when marketing strategies were aimed at a broad audience. They were often a hit-or-miss opportunity as it was impossible to identify each potential customer individually. However, with social media, big data, and google, companies now have an understanding of the choice and preference of a customer more than ever. As a result, customer segmentation is more effective today. Brands can now efficiently deduce the preference of the customer and advertise products accordingly.
Better Google ads
If you are a digital marketer, you would know about Google ads. It is the Google service that enables businesses to promote and advertise their product and service across the Internet. However, since its inception, Google ads have always provided the marketer with the opportunity to tweak and customize the ads for maximum output. However, the ad system has now been automated. The AI can now do a far better job at optimizing and curating the target audience than any human mind can.
Read Top 10 Free Online Digital Marketing Courses
The social media boom
A study conducted by sprout social revealed that over 46% of Instagram users simply brought the product that they saw in the sponsored post segment. There has been a steady growth in the social media marketing strategy. Businesses can now easily target and segment customers based on their preferences through social media advertisements.
Nagad to issue BDT 5 billion zero-coupon bond
Nagad is set to issue a zero-coupon bond of Tk 5 billion with a face value Tk 7.5 billion at the end of its five-year maturity, in a first for a mobile financial services provider in Bangladesh.
Strong interest from many foreign investors has already been sighted since the announcement of the bond for the DFS disruptor in Bangladesh.
Reportedly, Kiu Global, a US-based digital services company, already expressed interest to subscribe an amount equivalent to USD 30 million of the mentioned bond., said a media release Tuesday.
Read: Nagad’s interim licence gets renewal for another 3 months
The announcement of the landmark issue was made Monday at New York during an investor show titled “The Rise of Bengal Tiger: Potentials of Trade & Investment in Bangladesh”.
It wasorganized by the Bangladesh Securities and Exchange Commission (BSEC).
Nagad, one of the key partners of the event, received initial approval from the BSEC for the bond issue.
Read: Regional financial intuitions' leaders praise Nagad's PPP model
Riverstone Capital is acting as the arranger of the bond wherein Green Delta Capital will be the trustee.
Nagad, will use the proceeds from the bond subscription for future readiness of the company’s digital infrastructure; development of network, hardware and the digital financial service platform; purchase IT equipment; marketing and promotional activities; and working capital financing.
All these are aimed at accelerating the Digital Bangladesh initiative of Honorable Prime Minister Sheikh Hasina and will be an integral part of it, the release also said.
Read Nagad wins 'Best Innovative Digital Financial Services Brand' award
Tanvir A Mishuk, managing director and co-founder of Nagad, said, “With the development of the capital market in Bangladesh, the bond market has also become vibrant in recent past. We consider this as a better source to raise investment. Moreover, Nagad has always been innovative and that is why we chose bond market over traditional financing.”
Professor Shibli Rubayat-Ul-Islam, Chairman of BSEC, said, the BSEC, in collaboration with our ecosystem of regulators and stakeholders, is working towards the development of Bangladesh’s capital markets, particularly debt market, which will be vital for financing long-term needs of our industries and infrastructure.
He hoped that Nagad’s issue will encourage greater participation of our leading corporates, state-owned enterprises, municipalities in the debt capital, devising optimal financing strategies that will help them grow and prosper sustainably. Nagad’s initiative of issuing its first corporate bond is commendable and will contribute towards setting the right direction for the capital market.
Read Healthcare payments: Nagad offers discounts of up to Tk2,350
The BSEC organized this investment roadshow with the view to showcasing the strength and opportunities of business and investment in Bangladesh for foreign investors. High-level delegates from Bangladesh and the US, along with business conglomerates and investors were attending different seminars in New York, Washington DC, Los Angeles (California) and Silicon Valley (Santa Clara), said the release.
Pandemic, Remote Working & Procrastination: How to avoid procrastination when working from home?
The Covid-19 pandemic has reshaped our life in a way we never expected. From social distancing to work from home, there has been a lot of change. For working people, the change in the usual schedule has been drastic. All of a sudden you get to do your usual job from the comfort of your home. Many people say that they love working from home and it boosts their productivity. But, it might also make way for increased procrastination. So how does procrastination affect your productivity? And how can you stop procrastinating? Let's find out.
How procrastination reduces work performance and potentials?
Procrastination is nothing but the idea of putting off things until the last minute. It might seem harmless at first glance but the problem occurs when it becomes a habit. A study showed that 20% of the procrastinators are chronic procrastinators, which means, they can't help but procrastinate.
It's hard to pinpoint why people procrastinate. It can be lack of interest, lack of understanding, passive-aggressiveness, or simply momentary pleasure derived from holding off. However, the effect and implications are severe in the long run.
Read How to Restart Your Career after a Break?
As a procrastinator, you are losing your valuable work hours. It can only indulge you in unproductive work doing nothing significant. The realization of lost time often puts people into depression, which simply lengthens the procrastination phase.
Procrastination also makes people lose opportunities. It is always about what could have been for them as they never take the initiative with the opportunities at hand. Procrastinator also fails to manage their work responsibilities. Leaving everything for the last-minute leads to piles up work resulting in missed deadlines. This is a serious block to professional growth.
Read What makes a Great Manager: Know the Qualities and Skills
Procrastination not only ruins your career, but it also implicates that there won't be any significant change in your life. It is like a cycle of unproductive behavior which reduces and ultimately diminishes personal will in the long run.
Ways to stop procrastination while remote working
Setup daily goals
Procrastination is all about not being able to get anything done. As a result, a daily goal list can be a useful step in the right direction. Try to define daily goals or to-do list the night before every working day. Make the list small and realistic. Rather than pondering over anything the next day, start checking the list off. You will see a significant boost in confidence every time you check off a point. It will uplift your mood as well as productivity.
Read Traits of the Smartest and Most Efficient Employees
Don’t multitask
One of the the common misconception is that multitasking makes you more productive. While multitasking reduces the time of actual work, it compromises the quality of the work in the process. It is also something that will simply push you towards procrastination.
Instead of multitasking, you can simply focus on one work at a time. A single task will be hardly overwhelming as you are not required to juggle between many tasks. Thus, working through focusing task by task can increase your performance and work quality.
Read How to improve your productivity and efficiency at Work?
The Emerging Logistics Tech Startups, Courier, Delivery Services in Bangladesh
Once upon a time, people understood courier service to be just exchanging letters or important documents. That idea has changed completely in the last decade. Now app-based logistic services have become more important in transporting goods due to the increase in e-commerce shopping. In the last six years, hundreds of online or app-based e-courier companies have entered the Bangladeshi market to provide service to emerging e-commerce and F-commerce.
In addition to documents and papers, these service providers are delivering clothes, fish, meat, and even cooked food anywhere. Using technology, this service has now become digital or app-based. Now the buyer or seller can track the product through the app. Tracking the product also reduces the chances of getting lost, as well as reaching the destination faster. Let's take a look at some of the emerging logistics tech startups in Bangladesh.
Read Digital Healthcare Startups in Bangladesh: An Overview
Logistics Tech Startups vs Traditional Courier Services: What Are the Key Differences
The rapid advent of technologies has already transformed the logistic landscape. However, traditional courier services are still being used today. Due to the demand for quick delivery services, traditional 5-7 days service is losing appeal. Let's see how tech-enabled logistics have changed the industry.
Affordability
You may expect the traditional system is more affordable, but the manual process limits the capacity of the high delivery volume. As a result, diseconomies of scale may incur.
On the other hand, with the batching and chaining technology, real-time status update, and route optimization, there are many companies that offer last-mile quick delivery. These features increase the productivity for the tech-based logistics eliminating the idling and boost the cost-efficiency.
Read: The 7 Most Promising Tech Startups in Bangladesh
Supply Flexibility
Traditional couriers have full-time drivers to offer consistency if the drivers are reliable. But the companies may face difficulties if the volume rises suddenly.
The tech-based startups offer their service via flexible delivery agents. Further, they have continuous communication and locate the agent at any time. Therefore, it ensures meeting the demand even in the high peak season and prevents idle manpower during the low season.
Delivery Options
The delivery window is unpredictable for the traditional services, and it all depends on the courier's schedule. Taking 5-7 days or even more, time is the norm. In contrast, the tech courier works on a short lead time that supports on-demand, next day or even same-day delivery.
Read Truck Lagbe: Story of a Successful Digital Trucking Startup in Bangladesh
Reliability and Visibility
Lack of tracking technology and manual dispatching without real-time monitoring is the biggest drawback. As a result, a limited view of the parcel's safety and delivery time.
Real-time GPS tracking ensures the delivery agent's location, and the company also knows the delivery time. Hence, this process meets the modern customer's expectations.
Delivery Process & Accuracy
The traditional system still uses paper and pen to keep the records, while the tech courier uses the software and apps, which ultimately reduces the risk of human error.
Read: Zero Investment Business Ideas to Try Amidst the Pandemic
Fastest Growing Logistics Tech Startups in Bangladesh
Bangladesh's e-commerce is growing exponentially, and it has seen a 166% growth in 2020 alone, and then it is expected to see a $3 billion market size by 2023. Therefore, logistic techs have immense opportunities in this sector, and they are trying to offer top-notch services to the customers. Following are the top logistic startups in Bangladesh that are driving the market.
e-Courier
It is a bicycle-based product delivery service. Initially, the company worked with the selected eCommerce business and the e-commerce merchant to deliver their official various documents and parcels to the desired place. However, the company also provides such services to those who are not eCommerce traders.
The specific features of e Courier's customer service include android apps, its own website, SMS facility through which the customer can know the location of his product at any time. It also offers services such as taking orders twice a day and delivering goods on the same day. In addition, to deliver products to the customer's doorstep, they have a Door to Door facility.
Read Arogga: The Bangladeshi Medicine Delivery Startup Which Raised $200k
Initially, the company started its operation in Dhaka in 2014. But currently, the company operates all over the country. So far, e Courier works with more than 25,000 retailers and has distributed 4.5+ million parcels through 1000 delivery agents.
Paperfly
Paperfly, the country's fastest-growing e-commerce logistics company, is providing door-to-door delivery services and cash-on-delivery services in 64 districts, 491 Upazillas, and 4500+ Unions of the country through its own staff and vehicles. In addition, they provide warehousing and fulfillment facilities. Since launching its operations in February 2016, the company is currently providing the most cash on delivery and e-commerce services as third-party logistics support.
Its entire operation has been made with the latest technology. Paperfly scans and tracks the movement of the packages through 25 steps, and that is why their supply chain is close to paperless. Adding to these, Paperfly assures real-time updates via 100% field force tracking apps.
Read The SWAP story of Bangladesh's first reCommerce startup
CEO of financial institution needs BB permission before going abroad
From now on, the chief executive officer (CEO) of any financial institution has to take permission from the Bangladesh Bank before leaving the country.
Bangladesh Bank in a circular on Monday made this mandatory provision. Earlier, a similar provision was made for the CEOs of the banks operating across the country.
Also read: Bangladesh Bank orders freezing bank accounts of ex-deputy governor SK Sur, his wife
The central bank circular, issued by the Financial Institutions and Market Department, said that if any CEO of a financial institution stays outside the country for a long period of time for official work or enjoying personal leave, it may create potential management and operational risk including financial loss alongside decreasing overall institutional pace which is not expected anyway.
Against this backdrop, the BB said, the CEOs of the financial institutions are advised to avoid staying outside Bangladesh for a long period of time as far as possible.
Read Unilever Bangladesh appoints Zaved Akhtar as CEO, MD
“The CEO of a financial institution operating in Bangladesh, if required to travel abroad, has to take the approval of Bangladesh Bank before leaving the country. In this case, the CEO will apply to Bangladesh Bank for the approval before 15 days of the travel attaching a copy of the decision of the board of directors of the concerned institution.
The application must have necessary and detail information about the applicant including his and his institution’s names, national ID number, passport number, purpose of the visit, approximate expense of the travel, proposed time of the travel, address in abroad, and the information of last traveling.
Also read: BB sets new transaction timing for banks from July 15
If the application is approved by the Bangladesh Bank, the CEO will inform the secretariat of Bangladesh Bank Governor and Financial Institutions and Market Department as who will act as acting CEO during his absence mentioning his name, position, official phone number, cell phone number, email address, said the BB circular.
Getwell distributes surgical face masks in Dhaka
Getwell Limited, a sister concern of business conglomerate Pran-RFL Group, recently organised a Covid-19 awareness campaign and distributed surgical face masks in different parts of the capital.
Getwell-branded face masks were distributed among the commoners at Mohakhali Bus Stand and Gulshan with the help of the law enforcers.
Getwell Brand Manager Rofiqul Islam said, "We manufacture a wide range of medical equipment. From the beginning, Getewell has been involved in various social and cultural activities. This campaign is the continuation of it."
IBBL Sylhet holds business development conference
Islami Bank Bangladesh Limited (IBBL) Sylhet Zone recently organised a business development conference on a virtual platform.
Mohammed Monirul Moula, managing director and CEO of the bank, addressed the programme as chief guest and Md Omar Faruk Khan, additional managing director of the bank, as special guest.
Read: IBBL Dhaka zone holds online conference
Taher Ahmed Chowdhury, deputy managing director, and Mohammad Ali, chief risk officer, also joined the programme.
Senior executive vice-presidents Md Siddiqur Rahman, Mohammed Shabbir, Md Mahboob Alam, and Assistant Vice-President AM Shahidul Amran spoke at the conference as well, read a press release issued Sunday.
Read: IBBL Corporate Branches hold Business Conference
Digital Healthcare Startups in Bangladesh: An Overview
If the healthcare system is not functioning properly, the citizens have to suffer the consequences, and it is true for any country in the world. Hence, Bangladesh is not different either. Fortunately, Bangladesh is heading towards digitization. In this wake, many digital healthcare startups have been showing prospects. Over the last decade, some online healthcare startups have boomed with the aim of providing improved healthcare service, with better access to healthcare. We have compiled a list of top digital healthcare startups in Bangladesh. Let's get to know them.
Best digital healthcare startups in Bangladesh
Maya
Maya was founded by Ivy Huq Russell in 2011 as a content-based platform focusing on women's health care. But over the past years, it has been redesigned as a health care platform to offer anonymous messaging services about physical, psychological, and mental health questions. Maya Expert, an in-house built AI, answers about 30% of the incoming question with an accuracy rate of 90%.
Maya has their own app on Google Play, and so far, the Maya bot has served around 7.5 million people. They also offer B2B premium service where companies can take care of their employees' mental healthcare. However, Maya has introduced premium services that included video consultation and medicine delivery. Moreover, the company has a Maya Shop that sells lifestyle and healthcare-related products.
Read Top health apps for online doctor consultation services in Bangladesh
Jeeon
Jeeon is a social business registered in the US and based in Bangladesh. Jeeon has been working in Bangladesh since 2015. Jeeon's mission is to improve the health care of rural people in Bangladesh. And with that goal, they work with village doctors and pharmacists.
Jeeon creates supply systems for quality medicines and other health products and prevents counterfeiting. Furthermore, they work on increasing skills and competencies by providing various training to village doctors and pharmacists. Besides these, they also introduce and support new business ideas and new technologies in healthcare to the rural people. To highlight the important role of village doctors and pharmacists in the health sector of Bangladesh, Jeeon tries to contact the policymakers.
Now Jeeon has 4330 pharmacies in their network in different locations of the country, including Dhaka, Mymensingh, Khulna, Jessore, and other places.
Read The 7 Most Promising Tech Startups in Bangladesh
Moner Bondhu
In 2016, Moner Bondhu started its journey with a unique idea. It aims to offer professional counseling at an affordable and accessible cost online. Currently, Moner Bondhu has engagement in three sectors. Firstly, they provide care and support to mentally disturbed people through its helpline – both online and offline.
Secondly, they organize different training sessions, workshops on stress management and create awareness on mental healthcare. Thirdly, Moner Bondhu endorses mental healthcare issues through a weekly radio program on Color's FM 101.6.
According to the organization, they have reached 20,00,000 people so far online and 1,10,000 people through in-person and offline events. Moreover, Moner Bondhu has been working with the RMG sector in partnership with the UNDP to counter the mental health adversities of the RMG workers.
Read Small Business Ideas for F-commerce Startups in Bangladesh during Pandemic
BanglaMeds
Founded in 2017 by Gazi Raffan, BanglaMeds is one of the first online pharmacies in Bangladesh. They offer OTC drugs and prescription medicines delivery around the country. BanglaMeds aims to provide medicine delivery within one to three hours after the confirmation of the order. However, sometimes the delivery time may take two days depending on the customer's location.
The medicine ordering process is simple. You can take a picture or scan your prescription and upload it. Then the pharmacist will contact you to select the meds you want and for the verification. After that, you can get the medicines at your doorsteps. However, you will need to show the prescriptions to receive the delivery.
Apart from medicines, you can order accessories, diabetic kits, baby and mother care products, hygiene products, and more. The order can be done via various methods such as apps, websites, or even the social media platform.
Read Truck Lagbe: Story of a Successful Digital Trucking Startup in Bangladesh
CMED
Started in 2017, CMED is an AI-driven cloud base healthcare service provider. Dr. Khondaker Abdullah Al Mamun designed the CMED system that can monitor the vital organs of a human body.
CMED app is available on smartphones or tablets via Bluetooth. It can measure some important health vitalities such as oxygen saturation, blood pressure, blood sugar, pulse rate, height, weight, body mass index, and temperature. Based on these data, the app can provide instant feedback and also notify if there is a health risk.
They offer a health kit that comes with a digital height scale, weight scale, a blood glucose monitor, blood oxygen monitor, blood pressure monitors, and a thermometer. Further, the kit can be connected with the CMED app. So, you can complete the primary health checkup at home without visiting any doctor. Currently, they have more than 3314K+ registered users.
Read The SWAP story of Bangladesh's first reCommerce startup
Olwel
Olwel is a Finland-based startup founded in 2017. They mainly offer doctor consultation services via online video calls, medicine delivery, lab testing, and ambulance service. Initially, the service was started with the access of 16 doctors of different specialties. Currently, Olwel operates throughout Dhaka city.
The goal of Olwel is to connect the patients with nearby doctors through a website, app, or hotline. The company aims to provide home service within 30 minutes of the call. You will find the consultant's name and specialty in the app or website. The service charge for an online video consultation service is Tk. 600. The doctor will give you the consultation based on your history within those 30 minutes.
Read An Overview of Shuttle: A Promising Mass Transit Startup in Bangladesh