Subject: Internship report submission on "Impact of Remittances on Poverty Level and Economic Growth of Bangladesh". With due respect, I completed my internship report on "Impact of Remittances on Poverty Level and Economic Growth of Bangladesh" after completion of internship. In this report, I have tried to show the main scenario of Bangladeshi manpower export industry which is fully efficient and successful.
Firstly, I would like to express my gratitude to the Almighty of Allah for giving me the strength to complete the internship report within the time frame. Next, I would like to thank the teammates who helped me complete this report and the person who continuously supports and inspires me to complete the internship period. I would also like to thank my honorable teacher, Ishrat Jahan, Assistant Professor at the School of Business and Economics, United International University, for her good guidance and careful supervision.
This is to confirm that Rajiya Sultana has worked under my supervision to prepare the internship report “Remittance Impact on both Poverty Level and Economic Growth of Bangladesh” and submitted with fulfillment of all requirements of the award of the degree of Bachelor of Business Administration in School of Business and Economics from United International University (UIU). The internship report is based on “Remittance Impact on both Poverty Level and Economic Growth of Bangladesh”. This report examines the patterns and trends in remittance inflows across the country and their effects on various variables such as GDP, poverty level, etc.
From the findings, "multiple regression test" and "correlation test" are conducted and it is suggested that remittances play an important role in increasing economic growth and reducing poverty level in Bangladesh.
Background
Objectives
Suggest a policy recommendation to maximize the benefit of remittance inflows in Bangladesh.
Data Collection
Scope
Limitations
Section-II: Overview of the Organization
DATCO Pvt. Ltd
Veritas Academy
Techdyno BD Ltd
Structure of the Organization
Manpower Department: The manpower department is basically dealing with to export manpower into the Middle Eastern countries with Italy and Libya as well. It deals with
The Accounts Department is responsible for recording daily expenses and income, evaluating all expenses and rewards, recording bank reconciliation statements, preparing monthly reports, preparing budgets, distributing salaries, making payments to creditors and collecting obligations from debtors. IT Department: This department is ensuring safe and sound health of technological infrastructures through troubleshooting etc.
IT Department: This department is ensuring safe and sound health of the technological infrastructures through troubleshooting etc
Organizational Policy
Competitors of DATCO
Organogram of DATCO
Section-III: Internship Experiences
Internship Responsibilities and Duties
Experiences from Internship Program
I have learned how to properly approach the hierarchy and show equal respect for all employees and staff. In the finance and accounting department I learned how transactions are recorded, how the different accounts are included (for example, what expenses and income fall under) and how it is important to record them correctly to avoid future problems. complications. I also learned how to analyze income and expenses and inspect all kinds of transactions for future reference.
Section-IV: Analysis and Findings
Analysis Methods
Discussion
In Graph-II, it clearly showed that poverty level decreased due to increase in remittances.
Remittance Effect on Economic Growth
Sutradhar 2019), increased remittance flow increases capital that can be invested later for future investments. Literacy Scale (LIT): As suggested by Stephen Reder et al. 2010), higher education ability affects initial earnings and on-the-job learning ability, which in turn affects a person's earnings growth. Expenditure (EXP): The value of the coefficient is negative (-0.0049) which indicates a negative impact on the economic growth of the country.
According to this assumption partially supported by Sanjeev Gupta et al. agreed, expenditure has a double effect on economic growth as remittances consumed rather than. On the other hand, more consumption increases demand which actually helps business to result in growth in GDP (Gupta, Pattillo, & Wagh, 2007). The increase of an international trade facilitates economic growth through the increasing investment in business as increase in economic growth (Baah, Bo, & Odame, 2022).
According to Ramesh et al (1998), foreign aid has been an outcome in the same way as facilitating economic growth (Durbarry, Norman, & Greenway, 1998). A positive correlation means a change in one variable that would cause a strong and similar change in the other related variable. A negative correlation means a change in one variable that would have a strong and opposite influence on the other related variable (FERNANDO, 2021).
Correlation test (Table-II) shows different types of relationships with each other- • A strong positive correlation between spending, trade openness and foreign aid. A positive and moderate correlations between economic growth and remittances, expenditure and economic growth, HDI and per capita expenditure trade openness and GDP, inflation and foreign aid and foreign aid and economic growth.
Remittance Effect on Poverty
With the explanation of Muhammad Javid and Abdul Kayyum et al. 2012), remittances can improve living conditions to reduce poverty in the process in the longer term. On the other hand, there is a negative impact on the transaction cost of remittances in the short term (Javid, Arif, & Qayyum, 2012). Male and female immigrant (MAL and FEM): The impact of female immigrants is mostly negligible for the lower p value.
By the explanation of managing director Mahabubur Rahman (2021), there is abuse of women workers from developing countries (such as Bangladesh, Pakistan, etc.) where they are tricked into sex trafficking, major human trafficking and abuse from their employers force them to flee the country before they can repay the migration debt. Adams (2004), if the household increases its expenditure beyond the savings and investments, their financial condition will deteriorate. A strong positive relationship between EXP and REM, TO and REM, TO and EXP, FAID and REM, FAID and TO.
A moderate correlation between REM and POV, EXP and FEM, INF and REM, INF and EXP, TO and POV, FAID and POV.
Section-V: Conclusion and Recommendations
Conclusion
Recommendations
Appendices
