Revised Proposal

Lack of Utilization of Local Funds and Productive Investment Climate in Sylhet Region
Research Team

Dr. Md. Zakir Hossain1 Lead Researcher Dr. M. Mizanul Haque Kazal2 Fazle Elahi Mohammad Faisal3

1. Professor, Department of Statistics, Shah Jalal University of Science and Technology, Sylhet 3114, Bangladesh Tel. No. 0821-714479, 713491(PABX) Ext. 257; Cell No. 01552426074, 01711140801; Fax No.: 0821-715257; E-mail : mzhossain_bds@yahoo.com; mzh-sta@sust.edu 2. Professor, Dept of Arts & Social Sciences,

2 American International University-Bangladesh, House # 58/B, Road # 21, Kamal Ataturk Avenue Banani, Dhaka-1213, Bangladesh
Tel. No: 8820865/9890804; Cell No: 01712 502840; Fax No: 88-02-8813233; Email: mhkazal@aiub.edu

3. Assistant Professor, Department of Business Administration, Shah Jalal University of Science and Technology, Sylhet 3114, Bangladesh. Cell No. 01819115018; Fax No.: 0821-715257; E-mail : baten_math@yahoo.com

Lack of Utilization of Local Funds and Productive Investment Climate in Sylhet Region
2. Statement of the Research Purpose

Sylhet region plays a significant role in our national economy since the contribution of foreign currency to the nations foreign exchange reserve is highest from here. In spite of this huge amount of capital, a lion portion of the local funds are not utilized in Sylhet region and they are getting disbursed into other parts of the country by the banks. The number of bank operating in Sylhet region is too many because of collection of deposits from foreign remittances. Currently a total of 44 banks are operating in the region with more than 565 branches (Bangladesh Bank, 2007)1. About Tk. 5000 crores remained as non-operational in 2003 and became as flight money.2 The deposit and investment ratio is quite low in comparison with other parts of the country as only about 21% of its deposit has been disbursed as loan and advances whereas the figure for Rajshahi division is 77.5% and Khulna is 80% (Bangladesh Bank, 2007)1. The loan being disbursed in Sylhet is mostly trading, personal, housing, and consumer loan. The ratio of industrial loan is very minimal, only 5.47%3, that is worrying, especially in the context of productive investment and sustainable development. The resource strength of the region is quite evident; still such a non-utilization of resources is surprising, resulting in an undeveloped region with a huge contribution to national development. It is a grave necessity to utilize local funds, especially for the development of the locality which will bring socioeconomic improvement for local people and the place could become an ideal one for potential investors that will cause all round development in the area. It may not be forgotten that the opportunity of productive investment in Sylhet region is very high and if the local resources could be more efficiently utilized in the area then the productivity would increase significantly. There may be many factors affecting the development of local entrepreneurs, causing the lack of utilization of local funds. It is an urgent need to trace out the problems responsible for not receiving productive investment in the area.

Bangladesh Bank (2007), Quarterly Scheduled Banks Statistics, Statistics Department, Bangladesh Bank, Dhaka, July-Sep, 2007. 2 Ahsan, K., F.E.M. Faisal and M. M. Rahman (2005), Mismatch between local resources and regional development of Sylhet An Investigation. Journal of Finance and Banking, Vol. 7, Number 1 & 2, 2005, University of Dhaka. 3 Bangladesh Bank Information booklet of scheduled banks in Sylhet, 2004

4 Sylhet, as a prospective region for industrialization, always remains neglected by the government and other local stakeholders. Only tea industry has been developed in the region in private sector. The government of Bangladesh (GOB) has developed several Export Processing Zones (EPZ) in Chittagong, Savar (Dhaka), Mongla, Ishwardi, Comilla, Uttara, Karnaphuli (Chittagong) and Adamjee (Dhaka), but the region Sylhet does not seem to have serious consideration. Investments of any kind (foreign-owned, joint ventures and private one) are all permitted to operate and enjoy equal treatment in the EPZs and these EPZs have been extremely successful in terms of investment, employment and exports. Though countrys most valuable natural resources - natural gas available in the region, however no attempt has so far been made since independence to capitalize such resources in industrial sectors with minimum cost and effort. In the region, only two big public industries were established before independence and one multinational cement industry has gone under operation recently. Industrialization potentiality in Sylhet region will obviously help Bangladesh to increase its production which will simultaneously increase the employment opportunities in the country. The creation of job opportunity will enhance the living standard of the people of Sylhet region and will help to reduce the rich-poor gap. Both the growth of GDP and the reduction of poverty are of great importance in the context of Bangladesh if it really wants to transform itself from a developing country into a developed one. Favourable investment climate in Sylhet region will attract the expatriates to invest in productive private sectors and obviously will also help to invite the foreigners to invest directly in this resourceful region. This region is located outside the major earthquake zones and the frequency and intensity of natural disasters are far less than those of the other parts of Bangladesh. The FDI (Foreign Direct Investment) is a must for a developing nation. It is perceptible from the recent investment scenario in share market in the region that expatriates are interested in local investment if the congenial business environment is created. It is assumed that a huge amount of non-operational fund is now being invested in the share market of Chittagong Stock Exchange (CSE) through the stockbroker houses of Sylhet. The turnover in share market of Sylhet region was about Tk 1.38 crore in 2005 and increased to about 5.32 crore in 2007. Starting with a single house in 1997, there are now 25 branches of stockbroker houses operating in the region, indicating the eagerness of expatriates in local investment. The main reasons for the eagerness of the expatriates in the share market investment may be due to its transparent and non-bureaucratic procedure. It is required to

5 explore the opportunities for the investment in productive sectors and find out the constraints against investment climate in Sylhet region. 3. Brief Review of Literature

A number of studies conducted in different regions of the world on the impact of remittances on development, poverty reduction, entrepreneurship and related issues of migration (World Bank 2008; World Bank and Macmillan, 2007; World Bank, 2005; 2006) 4. In a study, Mansuri (2007)5 examined whether the investment choices of migrant households are different from those of comparable non-migrant households based on the data of Pakistan Rural Household Survey 2001-2002. Based on the household survey data from Latin America, Acosta et. al. studied the impact of remittances on poverty and human capital (Acosta et al., 2007)6. Peria et al. (2008)7 studied whether remittances promote financial development in recipient countries. His macro-level analysis suggests that remittances have a positive impact on the financial development of developing countries overall, but this effect is smaller for Latin American countries. The micro-level analysis reveals that while there is evidence that the likelihood of using deposit markets are more developed in areas where a larger percentage of the population receives remittances. Dilip Ratha (2005)8 examined the relative importance of workers remittances as a source of external financing for developing countries and found that remittances were smaller than FDI inflows but larger than
4

World Bank (2008), Remittances and Development: Lessons from Latin America edited by P. Fajnzylber and J. H. Lopez, World Bank, Washington D.C., 2008. World Bank and Macmillan (2007), International Migration, Economic Development and Policy edited by C. Ozden and M. Schiff - a co-publication of the World Bank and Palgrave Macmillan, Washington, 2007. World Bank (2005), Remittances: Development Imact and Future Prospects, edited by S.M. Maimbo and D. Ratha, World Bank, Washington D.C., 2005. World Bank (2006), Global Economic Prospects: Economic Implications of Remittances and Migration, World Bank, Washington D. C, 2006.
5

Mansuri, G. (2007), Does work migration spur investment in origin communities? Entrepreneurship, schooling and child health in rural Pakistan, In International Migration, Economic Development and Policy edited by C. Ozden and M. Schiff ,pp. 99-140, Washington D.C: World Bank and Palgrave Macmillan.
6

Acosta P., Fajnzylber P. and Lopez J. H. (2007), The impact of Remittances on Poverty and Human Capital: Evidence from Latin American Household Surveys, In International Migration, Economic Development and Policy edited by C. Ozden and M. Schiff ,pp. 59-98, Washington D.C: World Bank and Palgrave Macmillan.
7

Peria M. S. M. (2008), Do Remittances Affect Recipient Countries Financial Development? In Remittances and Development: Lessons from Latin America edited by P. Fajnzylber and J. H. Lopez, pp171216, Washington D.C.: World Bank, 2008.
8

Ratha D. (2005), Workers remittances: An important and stable source of external development finance, In Remittances: Development Impact and Future Prospects edited by S. M. Maimbo and D. Ratha ,pp. 19-52, Washington D.C: World Bank.

6 international capital market flows during 1999-2004. Remittances are more significant in low-income countries than in other developing counties: In 2003 remittances to low-income countries were 3.3% of GDP and 18.5% of imports while in the upper-middle countries they were 1.3% of GDP and 4% of imports. In a study, Azad (2005)9 documented that migrant workers remittances are a strong source of foreign exchange earnings for Bangladesh, but Bangladeshi migrants are mostly semi or unskilled workers whose earnings are low. The Bangladeshi migrants tend to be risk averse and therefore less interested to invest in rural sectors including microenterprises. The development of microenterprises in Bangladesh is affected due to lack of infrastructure. The literature regarding the investment climate issues is limited may be due to the negligence of researchers /policy makers /stakeholders on the emerging potential areas. A very few attempts so far done in recent times on the investment climate issues in Bangladesh 10 including Sylhet region2, 11. It is documented that the structure of Sylhets economy remained somewhat balanced and unchanged over the past two decades while there has been a significant structural shift in national economy (SCCI, 2006)11. The last census of manufacturing industries showed that 34 percent industries were involved in tea processing, 21 percent involved in brick, tiles, and non-clay production and about 16 percent were involved in bakery related products in Sylhet division (BBS, 2000)12. On an average, 37 percent of gross divisional product comes from agriculture, while industry contribute 14%, service accounted for 45 percent and import duty provides 4 percent respectively (SCCI, 2006)11. A small-scale investigation on mismatch between local resources and regional development of Sylhet was conducted in 2005 (Ahsan et al., 2005)2. The study identified entrepreneurial level, pre-entrepreneurial level and regional level as three tier factors equally contributing to a central reason of lack of local entrepreneurs to continue and the lack of utilization of local
9

Azad, A.K. (2005), Migrant Workers Remittances: A Source of Finance for Microenterprise Development in Bangladesh?, In Remittances: Development Impact and Future Prospects edited by S. M. Maimbo and D. Ratha ,pp. 119-132, Washington D.C: World Bank.
10

Stern N. (2002), The Investment Climate, Governance, and Inclussion in Bangladesh; Bangladesh Economic Association Speech, The World Bank Group. Pilot Investment Climate assessment (2003) Improving the Investment Climate in Bangladesh, Bangladesh Enterprise Institute and the World Bank. 11 SCCI (2006), Investment Opportunities in the Sylhet Region, Sylhet Chamber of Commerce and Industry, Sylhet, Bangladesh, 2006. 12 BBS (2000), Report on Bangladesh Census of Manufacturing Industries Bangladesh Bureau of Statistics, Dhaka, 2000.

7 funds to be continued. The study also suggested to improve five priority areas namely awareness, education, facilities, administrative efficiency and planning for the utilization of local funds. The Sylhet Chamber of Commerce explored the possible investment sectors for attracting the NRBs as well as FDI (SCCI, 2006)11. They also expected that the NRBs can become the investors, promoters as well as end-users for local products. It is to be mentioned that China emerged as the FDI-magnet in the world received the larger part of its inward FDI from its expatriates. Hence, the NRBs contribution through proper utilization of non-operative funds can become the major strength for industrialization in Sylhet Region. 4. Key Research Questions

In the proposed study, the key questions that have been identified for investigating the potentialities of using local funds in productive sectors by studying the opportunities and hindrances against investment climate in Sylhet region. The region has an advantageous position for developing as an industrial area due to both of its abundant natural resources (like gas, petroleum, stones, lime stones, cane, wood, fertile land, hilly area etc) and local financial strengths. The fact is that the region lacks adequate entrepreneurial development. It may be assumed that the expatriates of the Sylhet region would invest substantially in industrial sector if investment climate is created congenial. The answers of the following key questions would be helpful for policy makers to generate the proper investment climate in this region. The research questions are as follows: What are the productive sectors of investment in Sylhet region? What are the advantages and disadvantages of investment in Sylhet region? How much amount of remittances are being sent annually by expatriates of Sylhet and what is the pattern of remittance utilization? How much amount of non-operational funds coming as foreign remittances through formal sectors? What are the causes of lack of utilization of local funds? What types of action are necessary for developing awareness among potential expatriates regarding productive investment in the region? What kind of opportunities received by the current industries from the government and others?

8 Are the existing industries facing barriers for their expansion in this region? What are the constraints for establishing new entrepreneurs specific to Sylhet region but different from other regions? Which type of investment climate is expected by the expatriates and current industrialists for favourable investment? What steps are needed from the part of the government for ensuring favourable investment climate? Objectives of the study: The general objective of the study is to assess the investment climate in Sylhet region and to formulate recommendations for proper utilization of local funds through entrepreneurial development. The specific objectives are stated below: To assess the investment climate in Sylhet region To find out the annual remittance flow and amount of non-operational funds in Sylhet region To unfold the reasons for lack of utilization of local funds To identify the scope of investment in productive sectors To sort out the ways of developing awareness among expatriates for local productive investment To find out the obstacles towards expanding existing industries or setting-up new industries To suggest recommendations for proper utilization of local funds through industrialization. The study is expected to identify the problems of investment climate specific to the Sylhet region and unfold the potential opportunities for investments. It is also expected from the study that the sluggish investment climate in Sylhet region would find the rhythm to stimulate the local productive investment and the industrialization would definitely get a clear flip. 5. Research Methods

The study will follow both quantitative and qualitative approach to collect information on investment climate and lack of utilization of local funds. In quantitative approach, the enterprise-level survey will be conducted to know the advantages and constraints specific to

9 Sylhet region for developing entrepreneurs and to find out factors for local-based production. According to the Bangladesh census of manufacturing industries 1997-98, there are 423 industries in the region (BBS, 2003)13. In addition, there are more than 175 industrial units under Bangladesh Small & Cottage Industries Corporation. An up-to-date frame of all industries of the region will be prepared first before sampling. According to the recognized sample size determination procedure, the sample size of a large population becomes 67 on the basis of 10% admissible error, 50% indicator percentage and 90% confidence interval. Therefore, the study is planned to cover 67 industries for enterprise-level survey from all the existing industries in the Sylhet region. Since there are several types of manufacturing industries located in the region, the firms will be selected using stratified random sampling with proportional allocation where strata will be defined according to nature of industries. For qualitative survey, the respondents would comprise by the following

personnel/individuals.

Expatriates (Non-Resident Bangladeshis) of Sylhet origin Industrialists/ Business Magnets/ Bureaucrats/ Political Leaders Representatives of Chamber of Commerce of Sylhet Division Public delegates of Sylhet City Corporation, District-level Pourashavas of Sylhet Division Economists/ Scholars/ Educationists/ NGO Delegates Professionals/ Bankers

The respondents for qualitative survey will be selected by quota sampling method where quotas will be formed according to the occupation of the personnel. In addition to the local stakeholders from different segments, the study will consider a number of Non-Resident Bangladeshis (NRBs) of Sylhet origin as respondents, since their potential ability is high in the process of investment. The study will employ Key Informants Interview (KII) and Focus Group Discussion (FGD) to gather the views of stakeholders and expatriate Bangladeshis regarding the investment climate and utilization of local fund issues. Telephonic interview will have to be used to know the views of expatriate key informants and local key informants who are not available in the study area during the survey.

13

BBS (2003): Report on Bangladesh Census of Manufacturing Industries, 1997-98, Bangladesh Bureau of Statistics, Dhaka, 2003.

10 The study is planned to conduct 12 FGDs in several locations of Sylhet division to gather the collective views of the respondents, of which 06 will be conducted in Sylhet city corporation area covering the respondent quotas (i) Industrialists/ Business Magnets/ Bureaucrats/ Political Leaders, (ii) Representatives of Sylhet Chamber of Commerce (iii) Public delegates of Sylhet City Corporation, (iv) Economist/ Scholars/ Educationist, (v) NGO Delegates/ Journalists/ Elites/ Gatekeepers and (vi) Professionals/ Bankers. The rest 06 FGDs will be conducted in the three district headquarters of Sunamganj, Habiganj and Moulvibazar district covering two FGDs from each district. One FGD will cover the respondents from business communities including entrepreneurs, and the other one will cover the respondents from the rest of the quotas. The study will cover about 75 Key Informants including 30 expatriate Bangladeshis of Sylhet region. The expatriate Bangladeshi Key Informants will be selected mostly from UK and USA who are distinguished entrepreneurs /capitalist /community leaders and their views will be collected through telephonic conversation. A structured questionnaire will be adopted for enterprise-level quantitative survey. The questionnaire would comprise the questions regarding investment climate issues including production, labour, export-import, availability of raw materials, transportation facilities, constraints for expansion, financial and infrastructure facilities from GOB/other organization etc. Separate checklists will be developed for KII and FGD. The outcome from the KII and FGD will be coded and tabulated accordingly. Analytical Techniques: The study will use several statistical tools and techniques including Analytic Hierarchy Process (AHP) and Factor Analysis. As the study deals with several decision-making problems specially constrains of investment, advantages and disadvantages of entrepreneur development, various productive sectors specific to Sylhet region, and other factors - the AHP model would be the appropriate method to evaluate the priorities of decisions from alternative responses. In addition to AHP model, the study will employ factor analysis using principal component method to identify the factors relating to investment climate issues.

11 6. CV of the Members of Research Team*

6 (a). Brief CV of Dr. Md. Zakir Hossain - Lead Researcher (Statistician) Office address: (Tel. No; Cell No., Fax No. , E-mail:) Professor, Department of Statistics, Shah Jalal University of Science & Technology Sylhet-3114, Bangladesh. Tel. No. 0821-714479, 713491, 713850, 717850 (PABX) Ext. 187, 157 Cell No. 01552426074, 01711140801; Fax No.: 0821-715257 E-mail : mzhossain_bds@yahoo.com; mzh-sta@sust.edu Residence address: (Tel. No; Cell No., Fax No. , E-mail:) Flat # 03, House # 20, Lovely Road, Subid Bazar, Sylhet-3100, Bangladesh. Tel. No. 0821-725053; Cell No. 01552426074, 01711140801 E-mail : mzhossain_bds@yahoo.com; mzh-sta@sust.edu Academic Background: ======================================================================
Degree Year University Location Major Field Minor Field

Master M.Phil PhD

1986 1993 2000

Rajshahi University Rajshahi Rajshahi University Rajshahi Banaras Hindu University India

Statistics Bio-Statistics Demography

Bio-statistics Statistics Statistics

=================================================================================================

Research Experience (Indicate area of expertise with duration):

In Bangladesh: Have been engaged in research for more than 13 years during the periods 1990-1996 and 20012008. Have expertise on Demographic and Development issues. Provided consultancy to various issues including UNICEF-BBS Multiple Indicator Cluster Surveys (MICS), Food Security for Vulnerable Group Development (FSVGD) Project and Patuakhali Barguna Aquaculture Extension Project (PBAEP). Designed and implemented a number of study projects on various issues in micro-level sponsored by several organizations including University Grants Commission (UGC), Social Science Research Council (SSRC) and Chittagong Hill Tracts Development Board. Outside Bangladesh: Worked in the Department of Statistics, Banaras Hindu University, India as Junior/Senior Research Fellow of University Grants Commission (UGC), India from 1996 to 2000. Publications: 26 articles in reputed journals and 12 conference papers List of 10 related publications:
Hossain, M.Z. and Erik H.J. Keus (2004): Socio-economic Condition and Poverty Situation in Rural Southern Part of Bangladesh: A Household Level Study, Journal of Population and Social Studies, 12(2): 135-163. Hossain, M.Z. and K.N.S. Yadava (2005): Out-Migration from Rural Villages in Bangladesh: A Micro-Level Study, Journal of Population and Social Studies, 13(2): 23-45. Hossain, M.Z., A.K. Chowdhury, M.K. Hossaon and T. Ahmed (2005): Socioeconomic Aspects of Internal Migration in Bangladesh - A Case Study of Sylhet City, Journal of Sociology, 1(1). Hossain, M.Z. (2004): Trend and Instability of Export Earnings: A Comparative Study of SAARC Member Countries, Journal of Statistical Studies, 24: 77-85. Hossain, M.Z. (2005): Factors Influencing Fish Farming in Ponds in Bangladesh: Findings from a Baseline Survey, Proc. ICCS-VIII, 13: 171-180. Hossain, M.Z. and K.N.S. Yadava (2001): Population Diversity and Rural Out-Migration: Testing the Lee Theory in the Context of Bangladesh, Journal of Population and Social Studies, 10(1): 29-42. M.J. Uddin and M.Z. Hossain (2008): Predictors of Infant Mortality in a Developing Country, Asian Journal of Epidemiology, 1(1): 1-16. Yadava, K.N.S. and M.Z. Hossain (2000): Age at Marriage in Rural Bangladesh: Determinants, Trends and patterns, Asian Profile, 28(4): 319-338. Hossain, M.Z., Md. Abul Basher Mian and Alok Kumar (1998): Effect of Elimination of Leading Causes of Death in Rural Bangladesh: Potential Gains in Life Expectancies, Demography-India, 27(2):301-310. Samad, Q.A. and M.Z. Hossain (1993): Estimation of Income and Expenditure Elasticities for the Major Consumption Items in Bangladesh, Indian Journal of Agricultural Economics, 48(1):98-105.

Complete CV of the Research Team is enclosed at the end of the proposal

12
6 (b). Brief CV of Dr. Mohammad Mizanul Haque Kazal, Researcher (Economist) Office address: Professor, Dept of Arts & Social Sciences, American International UniversityBangladesh; House # 58/B, Road # 21, Kemal Ataturk Avenue, Banani, Dhaka-1213, Bangladesh
Tel. No: 8820865/9890804 Cell No: 01712 502840 Fax No: 88-02-8813233; Email: mhkazal@gmail.com

Residence address: 10/C/4, Block-F, Aziz Mohalla, Mohammadpur, Dhaka-1207 Cell No. 01712 502840, Email: mhkazal@gmail.com
Academic Background: ========================================================================== Degree Year University Location Major Field Master 1989 BAU* Mymensingh, Farm Management & Production Economics PhD 2002 IARI** New Delhi, India Agricultural Development and Policy ============================================================================ * Bangladesh Agricultural University ** Post-Graduate School, Indian Agricultural Research Institute

Research Experience (Indicate area of expertise with duration):

In Bangladesh: April 01, 1991 to August 31, 1992: Research Officer, Winrock International, Dhaka September 01, 1992 to November 19, 1995: Scientific Officer (Agricultural Economics), On-Farm Research Division, RARS, Chittagong and TCRC, Bangladesh Agricultural Research Institute (BARI), Joydebpur, Gazipur November 20, 1995 to Date: Conducting individual research and guiding and supervised 8 thesis students research work at SUST. Recently worked as a consultant to IUCN for conducting a study on Sustainable Development in Tanguar Haor Areas sponsored by Swiss Development Corporation (SDC) Outside Bangladesh: Conducted Ph.D. research work at India. List of 10 publications: Kazal,M.M.H., W.M.H.Jaim and M.H.Rhaman (1997): Crop Diversification in Deep Tubewell Irrigation Projects - The constraints of adding a third crop with two rice crops, The Journal of Rural Development, Vol.27, No.2 BARD, Comilla, Bangladesh. Kazal, M.M.H. and W.M.H.Jaim (1997): Comparative Profitability of Cropping Patterns With and Without Potato in Deep Tubewell Irrigation Projects - A study in an area of northwest Bangladesh, Economic Affairs, Vol.42, Qr.4 Calcutta, India. Kazal, M.M.H. (2005): Spatio-Temporal Disparities in Agricultural Development A Study on Major States and All India, Bangladesh Journal of Agricultural Economics, 28(1&2): 17-31. Joarder,M.A.M, S. Hasanuzzaman and M.M.H. Kazal (2005): Study on the Socio-Economic Condition of the Stone Quarry Labourers at Bholagonj of Companygonj, Sylhet: Problems and Prospects, SUST Studies, 6 (1): 64-76. Kazal, M.M.H., G. Mahmood and S. Hasanuzzaman (2006): Transaction Cost of the Community Based Fisheries Management (CBFM) Beels A Study in Sunamgonj Haor Area of Bangladesh, Progressive Agriculture, 17 (1): 405 415. Kazal, M.M.H., M. J. Alam and T. Ahmed (2006): Income Distribution and Poverty Level in Sunamgonj Haor Area of Bangladesh: Implication for Poverty Alleviation, Development Review, 18: 68-84. Rakib M. and M.M.H. Kazal (2007): Role of Women in Community Based Fisheries Management: A Study in Sunamganj Haor Area of Bangladesh, Bangladesh Journal of Fisheries (Special Issue), Vol 30: 113-123. Bakth N and M.M.H. Kazal (2007): Awareness and Capacity Building in Fisheries Management: Analyzing Impact of CBFM Training in Sunamganj Area of Bangladesh, Bangladesh Journal of Fisheries (Special Issue), Vol 30: 125-135. Islam.K.J and M.M.H. Kazal (2007): Distributional Cost-Benefit Analysis of Community Based Fisheries Management: An Integrated Tool to Assess Efficiency and Equity, Bangladesh Journal of Fisheries (Special Issue), Vol 30: 137-144. . Kazal, M.M.H., M. S. Islam and T.Ahmed (2006): Fish Marketing of Community Based Fisheries Management (CBFM) System in the Haor Areas of Sunamganj District, Progressive Agriculture, 17 (2): , (Accepted). Alam.M.F, T.K.Das and M.M.H. Kazal (2007): Community Based Fisheries Management (CBFM) in Sunamganj District of Bangladesh: The Nature of Cooperation and Conflicts, Bangladesh Journal of Fisheries Research, 10(1)

13

6 (c). Brief CV of Fazle Elahi Mohammad Faisal Position in the Proposed Research Proposal: Co Investigator Financial Analyst Position in the applying institution/ organization: Assistant Professor Office address: (Tel. No; Cell No., Fax No. , E-mail:) Department of Business Administration, Shah Jalal University of Science & Technology Sylhet-3114, Bangladesh. Tel. No. 0821-714479, 713491, 713850, 717850 (PABX) Ext. 274 Cell No. 01819115018; Fax No.: 0821-715257 E-mail: baten_math@yahoo.com Residence address: (Tel. No; Cell No., Fax No. , E-mail:) House # 100, Housing Estate, Ambarkhana Sylhet-3100, Bangladesh. Tel. No. 0821-722197; Cell No. 01819115018 E-mail : baten_math@yahoo.com Academic Background: ======================================================================== ==
Degree Year University Location Major Field

MBA BBA (Hons.)

1999 1998

University of Dhaka University of Dhaka

Dhaka Dhaka

Banking Finance & Banking

====================================================================================================

Research Experience (Indicate area of expertise with duration): Have been engaged in teaching and research for more than 5 years during the periods 2002-2008. Have expertise on financial analysis and development issues. Worked in the areas of development economics, FDI, stock markets etc.
List of 05 publications:

Mismatch between local resources and regional development of Sylhet An Investigation. Journal of Finance and Banking, Vol. 7, Number 1 & 2, 2005, University of Dhaka. Problem and Prospects of Hand loom Industries in Bangladesh: A Case Study on Monipuri Hand loom Industry. SIU STUDIES, Vol. 1, Issue-1, July- December 2006. Profile of the Stock Market Investors in Bangladesh : An Empirical Study- Bangladesh Islami University Journal, Vol. 1, Issue-1, January-June 2007. An Investigation into the Activities and Impact of Bangladesh Krishi Bank on the Development of Agro Based Sector in Bangladesh- SIU STUDIES, Vol. 1, Issue-1, July- December 2006. A Study on the Foreign Direct Investment Scenario of Bangladesh.- Prime University Journal, Vol-1, No.- 2, July-Dec, 2007. Micro Credit activities of different NGOs in Bangladesh under the supervision of Dr. Baqui Khalily, Department of Finance and Banking, University of Dhaka. Capital Market in Bangladesh under the supervision of Mr. M. Kismatul Ahsan, Department of Finance and Banking, University of Dhaka

14 7. Institutional Affiliation of the Researcher Name and Position in the Study Dr. Md. Zakir Hossain Lead Researcher (Statistician) Institutional Affiliation Professor, Department of Statistics Shah Jalal University of Science and Technology, Sylhet 3114, Bangladesh Email: mzhossain_bds@yahoo.com Mobile: 01552 426074 Professor, Dept of Arts & Social Sciences American International University-Bangladesh
House # 58/B, Road # 21, Kemal Ataturk Avenue Banani, Dhaka-1213, Bangladesh Tel. No: 8820865/9890804 Cell No: 01712 502840 Fax No: 88-02-8813233; Email: mhkazal@aiub.edu

Dr. M. Mizanul Haque Kazal Researcher (Economist)

Fazle Elahi Mohammad Faisal Researcher (Financial Analyst)

Assistant Professor, Dept of Business Administration Shah Jalal University of Science and Technology, Sylhet 3114, Bangladesh
Tel. No. 0821-714479, 713491, 713850, (PABX), Ext. 174

Cell No. 01819115018; Fax No.: 0821-715257 E-mail : baten_math@yahoo.com

Research Assistant

Sumonkanti Das
M.S. Research (Appeared) Department of Statistics Shah Jalal University of Science and Technology Sylhet 3114, Bangladesh Mobile: 01818-824282 Email: sumon_148@yahoo.com

Research Assistant

Md. Masud Rana

M.S. Research Student Department of Statistics Shah Jalal University of Science and Technology Sylhet 3114, Bangladesh Mobile: 01911173417 Email: mrana_1717@yahoo.com

15 8. Work Plan and activity schedule: 8a. Activities (List of major activities): (i) Preparation of the study and literature review (ii) Development of questionnaire for firm-level survey and checklists for KII and FGD (iii) Preparation of up-to-date list of enterprises in Sylhet region (iv) Selection of sample enterprises using stratified random sampling with proportion allocation (v) Selection of respondents from several occupational groups using quota sampling for FGD and KII (vi) Formation of FGD groups (vii) Conducting FGD and KII (viii) Collection of data from selected sample enterprises (ix) Entry and analysis of firm-level survey data (x) Coding and Tabulation of qualitative survey data (xi) Draft report preparation and share the findings (xii) Report finalization and submission 8b. Activity Schedule/chart (in weeks)* Activities
Preparation of the study including literature review Development of questionnaire and checklists Preparation of up-todate list of enterprises Selection of firms and respondents (Sampling) Formation of FGD groups Conducting Firm-level survey and FGD/KII Entry and analysis of firm-level survey data Coding and tabulation of qualitative survey data Draft report preparation Report finalization & submission

Weeks
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

* The arrow indicates the start and completion date of each activity.

16

9.

Proposed Budget (Financial Requirements for the Proposed Study) i) Researchers Honorarium
Personnel Dr. Md. Zakir Hossain - Key Researcher Dr. M. Mizanul Haque Kazal Fazle Elahi Mohammad Faisal Sub-total Rate per day # of (US $) Persons # of days Total (in Taka) Total (in US $)

ii) Staff Cost

Personnel Research Assistants (Two) Field Investigators (to be recruited) Sub-total Rate per day # of (US $) Persons # of days Total (in Taka) Total (in US $)

iii) Travel Cost

Personnel Principal Investigator Co Investigator (Economist) Co Investigator (Financial Analyst) Sub-total Rate per day # of (US $) Persons # of days Total (in Taka) Total (in US $)

iv) Other Costs

Purpose Field Materials Collection of documents Telephone Cost (per hour) Recorders Printing of Questionnaires and Check lists Stationeries Sub-total Total Cost (Summation of i to iv ) (US Dollar. Equivalent to Taka only)