In the journey towards professional growth and personal fulfilment, finding the perfect workplace plays a pivotal role. An extraordinary workplace goes beyond the conventional norms, nurturing an environment of productivity, positivity, and progress.
In recent times, we have observed a notable trend in Bangladesh’s professional landscape: an increasing exodus of skilled individuals seeking opportunities abroad, be it higher studies or better careers. Despite facing multiple hardships across living and professional development, this phenomenon is growing. One can easily ask: what are the intricate factors underpinning this migration?
Sri Lanka’s worst economic crisis since its independence began in 2019. Experts attribute a plethora of reasons behind the crisis. First, after the end of the civil war in 2009, the country emphasised providing goods for the local market instead of trade, a decision that led to a continued trade deficit of more than $3 billion each year. Along with trade policies, tax cuts in 2019 led to a loss of government revenue of over $1.4 billion a year.
Bangladesh Bank issued comprehensive guidelines for establishing digital banks in mid-June. This important decision has generated a lot of excitement among different groups, including major banks, non-banking financial institutions (NBFIs) and innovative startups.
I became a management committee (mancom) member of an Australian bank quite early. My climbing to the top role in the local office of a leading USA-based bank was also relatively early. In those days, a CEO was kind of a CEO, no matter whether you drive change or not. Almost always the boss’s man and focusing on upward management.
Of course. Despite challenges around, we have many reasons to be optimistic about Bangladesh.
Capital flight, a growing concern for Bangladesh over the past few decades, refers to the outflow of financial assets from a country. While usual outflow may also be foreign direct investment, the problem arises when the fund transferred from a country does not have proper documentation of source and there is no intend of repatriation of the fund. This leads to loss of government revenue and depletion of foreign currency reserves.
According to a 2021 study of the International Organisation for Migration, there could be an estimated 2.4 million Bangladeshi diaspora members in the UK and the US alone. Therefore, it can be assumed that the total number of Bangladeshis living abroad is huge. Even if a small portion of them contribute their skills, expertise and capital back to Bangladesh, it could make a huge difference.