Bangladesh 's working standards combined with the corrupt government has produced an inhospitable working environment for Bangladesh 's population. Whether it be the incidents at Rana Plaza or Tazreen, it is clear that the system is broken and that those in power have no intention of fixing it. The corrupt officials of the garment industry wish to continue the persistent poverty to maintain their inflow of cheap, exploitable labour. Bangladesh is just one example of the dangers of globalisation and the inherent corruption that comes with it. Mosse 's theories on poverty help to illustrate how and why places like Bangladesh continue to remain in a state of economic despair.
Since microfinance institution like ESAF have very limited scope for operating their business. A banking license will essentially help them to improve their operations and business. Threats High Competition: This is a serious threat for ESAF.As MFIs have high transaction cost, entrant of the new players further aggravates this transaction cost making it worse. In such situation it has threats from different MFI institutions operating across the country. Also, Banks trying to expand their business in the rural areas create threats for the survival of MFI’s such as ESAF.
But it is rampant in Bangladesh and some other countries which are developing and underdeveloped. Corruption prevents the proper distribution of national wealth. It increases the gap between rich and poor and collapse existing law and order situation. Lack of institutional transparency, integrity and weak rule of law reflected poor performance in the civil service of Bangladesh. Police, custom, tax, health, railway
Corruption in Business Corruption in business has become one of the most serious issues in our society. Corruption is defined as wrongdoing on the part of an authority or powerful party through means that are illegitimate, inconsistent or immoral with ethical standards. The majority of countries are struggling to decrease the corruption, but still it exists in business. Even though companies know about that corruption can jeopardise business, individuals consider it profitable. In addition, it might help their business communication, but there have been a large amount of risk as a result.
Corruption is a universal curse around the world and all nations suffer to some degree from the devastating effects of corruption. Corruption impedes economic development by creating inefficiencies that significantly reduce a country’s welfare. There are various definitions regarding corruption ,the most frequently used by social scientist is Nye’s, that corruption is: “…behavior which deviates from the normal duties of a public role because of private-regarding (family, close private clique), financial or status gains; or violates rules against the exercise of certain types of private-regarding influence. This includes such behavior as bribery, nepotism patronage, fraud, embezzlement.” The Oxford Advanced Learner’s Dictionary, (2000) define the Corruption as: (a) dishonest or illegal behavior, especially of people in authority (b) the act or effect of making somebody change from moral to immoral standards of behavior. According to this definition, the corruption includes three important elements, morality, behavior, and authority [Seldadyo and Haan, 2006].
Since ‘‘Aid is an essential source of funding for Nauru’s development’’ (Anon., 2014) .Corruption and regional perceptions of corruption in Nauru has been damaging to the country’s reputation and has created obstacles to local and foreign direct investment, economic growth and will eventually mislead the development and upliftment of the people. Public money is for government services and projects. However, corruption and bad management consume into the nation’s wealth, directing money away from projects and the very people most dependent on government for support. Countless studies around the world (Mauro (1995), Tanzi and Dawoodi (1997), Ehrlich and Lui (1999)…) show how corruption can disturb investment, restrict trade, reduce economic growth and affect government expenditure. There are also studies that show the relationship between corruption in certain countries to increasing levels of poverty and income inequality.
It is an obvious conclusion that, this situation brings many draw-backs to a nation. To a developing country like India, poverty is a huge obstacle for development. Out of many draw-backs this paper will acknowledge on migration and brain-drain, which are two controversial topics in and out of India. This obvious consequence of poverty has its unfavourable effects; conversely apart from the disadvantages caused to the country Migration and brain has begun to show benefits and has become a helping hand for the economic growth. However, these benefits will actually payback only if the migrants make an effort to come back and invest in their motherland in the long run.
Corruption in the public sector means “the misuse of public office for private gain” is often viewed as a prime condition of poverty (low earnings, poor health, poor education, vulnerability) in countries already fighting with the injure of economic growth and democratic changeover. Alternatively, chronic poverty is seen as a natural breeding ground for corruption due to social and income inequalities as well as wicked economic incentives (Chetwynd, Chetwynd, & Spector, 2003). ‘Good Governance’ is fundamental to development in all countries. Across the world, six indicators have been identified as the most valuable measurement tools of ‘good governance’ are – ‘voice and accountability’; ‘political stability and absence of violence’; ‘government effectiveness; regulatory quality’; ‘rule of law and control of corruption’ (Azmat & Coghill, 2005). So how well any government plays hinges on how fine citizens are at making their politicians accountable for their
The effects of corruption are perverse and broad. Corruption has implications that are economic, financial, social, political and environmental. Some effects are not necessarily discernible until much later-a scenario which makes it more difficult to detect and correct. It leads to inter-generational transfer of poverty, inequality, debt burden and unequal distribution of resources. It’s important that every citizen should understands the cause, impacts, effects and magnitude of corruption in addition to each individual taking up a delicate and deliberate stand against corruption.
Corruption in Pakistan Corruption may be a style of dishonest or unethical conduct by someone entrusted with a foothold of authority, typically to amass personal profit. Corruption might embody several activities as well as graft and theft, though' it's going to additionally involve practices that square measure legal in several countries. Government, or 'political', corruption happens once associate office-holder or alternative governmental worker acts in a politician capability for private gain. Corruption in Pakistan is widespread, significantly within the government and lower levels of police forces. Transparency International's 2016 Corruption Perception Index ranks the country 116th place out of 176 countries.