Development Of Islamic Banking And Finance In Bangladesh Finance Essay - Free Essay Example

Bangladesh has a mixed banking system consist of private, nationalized, and foreign commercial banks. Bangladesh Bank is the central bank of the country and is responsible for monetary policy of the Government and all commercial banks. After the independence the Government of Bangladesh initially nationalized the entire domestic banking system and proceeded to reorganize and rename variety of banks. In 1980s, commercial bank privatization decision revolutionize the entire banking system. At present the total banking Bangladesh system consists of four state-owned banks, four specialized banks, thirty private commercial banks and nine foreign banks. The banks financial performance evaluation is important for all stakeholders owner such as debtors, investors, government, creditors, regulators, and bank depositor managers. Bank performance provides direction to stakeholders in making decision. For example it gives direction to the investors and debtors to decide either they should invest money in the bank or invest somewhere else. Similarly, it gives direction to the bank managers whether to improve loan service or service deposit or both to improve its finance. Regulatory agencies and the government are also keen for the regulation of financial performance purposes. BACKGROUND This Islamic banking, as a new paradigm has begun in Bangladesh in 1983 with the establishment of the first Islamic bank Islamic Bank Bangladesh Limited. After that, six more banks were established in the country to achieve this welfare banking to the doorsteps of the people. In the last two years decades, it has shown a great strength in achieving the goals of Islamic Shariah. From observing the success, most of the conventional banks have been allured to open their own Islamic branches with the traditional ones. In Bangladesh, the most important development in Islamic Banking and Finance (IBF) and in the recent few years has been the entry of some conventional banks in the market and their use of Islamic modes of financing through their Islamic branches, windows, or units. Some of the giants in the banking and finance industry, Islamic banking is a necessities and can encourages that bank. Bangladesh was moving from time to time and presently 9 percent from conventional banks have opened 19 Islamic banking branches alongside their interest based branches. Thinking in devising the banking policies and framework on the basis of Islamic Shariah in the second half of the twentieth century witnesses a major shift and the end of third quarter of the century as a new system of banking called Islamic banking, this new thought finally was institutionalized. Moreover to the Islamic Banking movement, the establishment of the Islamic Development Bank (IDB) in 1975 gave momentum to that banking system. Then a number of Islamic Banking and financial institutions have been established all over the world irrespective of Muslim and non-Muslim countries since the establishment of the IDB. The most part of the operational financial resources of Islamic banks came from different types of deposits mobilized of the principles of Al-Wadia which also known as safe custodianship and Al-Mudaraba which means trust financing. Islamic banking has opened various ways for making loan conforming to Islamic Sharia by utilizing of fund under the framework. In the conventional banking, the term loan is called Investment in the Islamic banking. They have devised different types of interest- free financing devices ever since the Islamic banks cannot lend on the interest. As can be seen today, the Islamic finance has become extremely sophisticated as well as increasingly competitive. Today through Islamic subsidiaries, very large number or western financial institutions are involved in the Islamic finance. It was known as Islamic windows or can be called marketing of Islamic products. Recently, more of the new Islamic products have appeared such as Islamic bonds (called as sukuk) and Islamic derivatives. With around 135 million populations of which 90 percent are Muslim, Bangladesh became the third largest Muslim country in the world. After the OIC recommendation at its Foreign Ministers meeting in 1978 at Senegal to develop a separate banking system of their own, that give hope and aspiration of the people to run the banking system on the basis of Islamic principle came into reality. Then Bangladesh established its first bank after 5 years of that declaration which is in 1983. After that, out of 49 banks in Bangladesh, 7 from it full-fledged Islamic Banks and 19 Islamic Banking branches of 9 conventional banks were working in the private sector on the basis of Islamic Sharia. THE RECENT DEVELOPMENT OF ISLAMIC BANKING AND FINANCE IN BANGLADESH Global Islamic finance is growing rapidly making their way and gaining popularity in Bangladesh, with experts predicting that the Shari `ah compliance with industry will continue in steady steps to become the mainstream of Islamic banking system in South Asian countries. The future of the Islamic banking system is so bright, Mominul Islam Patwary, chairman of the executive committee of Islami Bank Bangladesh Limited, to IslamOnline.net. The Islamic banking in Bangladesh is seeing an impressive growth in Bangladesh. Bangladesh entered the Islamic banking system only in 1983, with the establishment of Islami Bank Bangladesh. Since then, five other private fully Islamic banks and 20 Islamic banking branches of conventional banks have been established. Patwary says that his bank is now one of the top performers in terms of bank business and profit of 48 commercial banks operating in the country. Islamic Bank Bangladesh Limited has gained first position in all private banks in term deposits, investment, export import and remittance collection. According to Bangladesh Bank (BB), the countrys central bank, the deposits of Islamic banking system is now 25 percent of all private bank deposits and investments is 30 percent. Bahauddin Mohammad Yousuf, vice chairman of Al-Arafah Islamic Bank, has an explanation for Islamic finance boom Bangladesh. He says that for a Muslim, the religion forbids any gain or pays riba, Islamic banking makes it possible to operate a business without interest. The people of this country are religious, Patwary, Islami Bank, agrees. Islam forbids Muslims from usury, receiving or paying interest on loans. Islamic banks and finance institutions cannot receive or provide funds for anything involving alcohol, gambling, pornography, tobacco, weapons or pork. Shari `ah-compliant financing deals resemble lease to own arrangements, installment payment plans, joint purchase and sale agreements, or partnerships. Bangladesh is the third largest Muslim-majority country in the world, and the Muslims who make up more than 80 percent of the countrys 148 million population. Bankers believe that Islamic banking set to progress even more, if the laws governing Islamic banking policy was introduced. If the introduction of Islamic banking, Islamic banking system though will continue to grow, said Patwary. Experts predict that the rapid rise of Shari `ah-based systems, the industry will eventually move on to become the mainstream finance in Bangladesh. Without the benefit of Shari` ah-based systems will be mainstream banking and conventional banks will become the minority in the OIC countries including Bangladesh in 2002, M Azizul Haque, a leading expert on Islamic banking in Bangladesh, told IOL. Azizul Haque, who is also chairman of the Shari `ah Council of Dhaka, believes that Bangladesh will follow throughout the world to the Islamic banking sector. He explained that the rate of growth of Islamic banking in the OIC countries for example is 15 to 20 percent, while conventional banks are 10 to 15 percent. Islamic finance is one of the fastest growing secto rs in the global financial industry. In the grounds of the credit crisis, the global Islamic finance market has grown about 15 percent in three years ago, and is now worth about $ 700 billion worldwide. At present there are nearly 300 banks and financial institutions worldwide. Assets are forecast to grow to $ 1 trillion by 2013. Azizul Haque expects that higher growth rates in the next decade will force the global financial system to Islamic banking. There is no any kind of concern about the success of Islamic banking, said renowned economist. Capital cannot solve global economic problems.The world is looking for a new economic order. Islamic economic system would be that the new economic order. Bangladeshs aspiration to conduct banking system based on Islamic principles move closer to becoming a reality in 1978, after the Organization of Islamic Conference (OIC) meeting of foreign ministers of member countries. OIC recommends its members (including Bangladesh) to develop their own system of Islamic banking. Five years after the declaration, in 1983, the countrys first sharia-compliant bank, Islami Bank Bangladesh, was established. More banks have followed including Al-Arafah Islami Bank (opened in 1995) and Shahjalal Islamic Bank Ltd in 2001. Observing the success of their Islamic counterparts, the number of conventional financial institutions has been keen to launch Islamic banking products and services with those of conventional ones. To ensure adherence with Shariah, conventional banks just like the Islamic ones, need strong Shariah supervisory board, which helps in providing model agreements, approves all new operational structure and put basic guidelines for Islamic fi nancing. Premier Bank Ltd, one of the top ten banks in the country. The Bank has maintained two parallel lines of business since 1995. Meanwhile, other banks, Premier Bank Ltd, has opened two separate, dedicated branch (in addition to those of conventional 25) operating in accordance with the principles of Shariah. Some banks, such as Exim Bank (Export Import Bank of Bangladesh Ltd.) has taken a step further and fully changed to Islamic banking. Growth of Islamic banking in Bangladesh is ongoing day by day. A remarkable shift or conversion of conventional banks and their branches into Islamic lines give banking a high signal received by the public interest in general. The Islamic banking industry continued to show steady growth in 2005 in line with economic growth, as reflected in increased market share of Islamic banking industry in terms of assets, financing and deposits of the banking system total. Islamic banks in Bangladesh started from a very limited resource base. But with the passage time, they have shown a steady performance in respect of the mobilization deposit. Total deposits of Islamic banks and Islamic banking branches conventional banks stood at Taka is so many in September 2005. CONCLUSION Analysis leads us to conclude that even if we see that we need to take lessons from the Islamic Bank, which is supposed to make the banking system less prone to problems of non-performing assets of banks, but we have a lesson that Conventional Bank should concentrate on short-term loan that is anti-growth oriented. But it is not possible to switch to Islamic banking practices become even impossible because ICBs also failed to adopt Shariah compliant banking operations. From a practical Islamic Bank Bangladesh, we can conclude that the Islamic Bank failed in general to claim yourself a pioneer for an alternative to interest-based banking system that is not based on a share as Islamic banks and finance invest nearly 80-90 per cent of their funding under the rate protected and is set to return based financing. A financial system built solely around the modes of financing cannot claim superiority over an interest-based system on the grounds of equity, efficiency, stability and growth. The questions of how to improve the recovery rate of Bangladesh Banking is still open. Perhaps, we need to find the answer is not in Islamic banking but in the regulatory framework and the legal and business risks instead of emphasizing on security risks. Analysis and comparison between Islamic and Conventional Banks revealed that no significant difference exists in the lending and financing procedures between the two banking systems. In both types of system, from approaching the Bank to finance the delivery of loan facilities and similar facilities except Bank Shariah Board exists in Islam, also known as the Religious Supervisory Board. From the comparison of our instruments found that only Mudaraba and Musharaka are financial instruments that truly Shariah-based Islam. The rest of the instruments are skillfully with the Conventional Banking System. Clearly, the returns to finance provided financial mode based on Murabaha, Ijara, and Bai-Muajjal with service charges are all set out as benefits. In Islamic banking, all modes other than the mode of financing secured ideal because there is no practical risk involved (and collateral have a structure based on short-term financing.) This enables the Bank to get their loan portfolio and take advantage of its financing instruments to make rate better recovery on Conventional Bank.

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Written by Syed Atique Hussain Naqvi, Global Ambassador and  MBA student in Hult Boston Campus Class of 2017. Albert Einstein once said the only source of knowledge is experience. And education can help enhance both knowledge and experience. When professionals with more than 10 years of experience choose to enrich their experience and knowledge by enrolling in an academic program, they not only enrich themselves but also augment the learning environment for their younger peers. [Tweet Education can help enhance both knowledge and experience.] After working in the news media in India and the Middle East for 16 years, my decision to attend an MBA program in Boston was not easy. To say the least, it’s a calculated risk, and one has to also take into account the opportunity cost of staying away from the professional life for an extended period of time. â€Å"Hult International Business School’s Global One-Year MBA program not only attracts students from across the world but also the students who have a very diverse professional background. Words of renowned British author and poet T.S. Eliot are very inspiring for the people who want to do something ‘different’. Eliot says: â€Å"Only those who will risk going too far can possibly find out how far one can go.† It takes a lot of courage and due diligence to go into academics as a student after a long stint in the professional world. Hult International Business School’s Global One-Year MBA program not only attracts students from across the world but also students who have very diverse professional backgrounds. In the current MBA Class of 2017, there are students from backgrounds in  media, medical sciences, asset management, marketing, finance, aviation, nuclear sciences, and much more. From left to right: Sameer Sabharwal, Dr Maninder Manihani, Rinku Bakshi, and Syed Atique Hussain Experienced peers The MBA program at Hult is also diverse in terms of the number of years the candidates have spent in their respective fields. Most of the students in the MBA program have five to eight years of experience, while there are few who have more than 10 years of professional experience. As I am part of the latter group, I felt the need to explore and find out the drive of students who come to Hult with a wealth  of experience, and how such candidates maintain a growth mindset and contribute to the learning process. I spoke to some of the MBA students who have spent a significant number of years, like myself, in their respective fields. The aspirations, energy, journeys and motivations of my MBA peers were extremely encouraging and intellectually stimulating. â€Å"I wanted to understand the global business scenario, network with people from around the world and learn entrepreneurial skills to create jobs in my home country† Dr. Maninder Manihani, from India, is a medical doctor who has worked in the healthcare sector for 24 years after completing her medical degree in 1992. Dr. Manihani, MBA 2017 candidate, is at Hult to fulfill her dream of gaining an international degree. About choosing Hult for her MBA degree, she says: â€Å"I wanted to understand the global business scenario, network with people from around the world and learn entrepreneurial skills to create jobs in my home country, and Hult International Business School offers all of that as there is a strong focus on teamwork and practical challenges.† Peter Kelly Kirsch, another MBA candidate, from the United States has more than 10 years of experience in New York’s finance sector. He is at Hult to advance his career, and Mr. Kirsch chose the school because of its international reach. Ms. Bakshi decided to take a sabbatical from work to study, as she feels that global business is an ever-changing field and she needed to learn more about how to add value to her global clients and manage them effectively. With 15 years of experience in the private wealth management industry, Rinku Bakshi from India was working with high-net-worth clients cracking deals for her firm in Bengaluru, or Bangalore. She chose Hult because the school offered a one-year MBA program, which according to her is global, practical and would help her give new perspective and sharpen the set of skills she already possesses. Ms. Bakshi decided to take a sabbatical from work to study as she feels that global business is an ever-changing field and she needed to learn more about how to add value to her global clients and manage them effectively. â€Å"I didn’t want to retire having done  the same things over and over again. I want to do the same things in a different and effective manner for the rest of my career Even Sameer Sabharwal, also from India, took a break from his job in the aviation sector to study at Hult. He has spent 18 years in the industry and specializes in the international cargo segment, and wanted to study at an international business school. â€Å"I didn’t want to retire having done the  same things over and over again, I want to do same things in a different and effective manner for the rest of my career, and that was the motivation behind joining Hult International Business School’s Boston campus,† says Mr Sabharwal, adding that on-the-job learning might make you a good manager but if you want to be an excellent manager then you have to study management in a reputed school and acquire skills that could be applied globally. The dynamics of new challenges In terms of unique challenges at Hult, Mr. Sabharwal says that although Immersion and Mod A were great, Mod B seems to be very challenging but  that’s about to end. â€Å"I want to learn a lot, and a 24-hour day  doesnt  have enough time. I feel if I miss a second, I will miss a  whole world of knowledge.† Ms. Bakshi’s main challenge is time management. â€Å"I want to learn a lot, and a 24-hour day doesn’t have enough time. I feel if I miss a second, I will miss a  whole world of knowledge.† Time is a challenge for Mr. Kirsch as well. â€Å"Managing intense schedules, and coordinating with the various teams and trying to get in sync with calendars of my peers is the biggest challenge.† For Dr. Manihani the unique challenge at Hult is not being able to identify with the set of values that her younger peers follow. â€Å"I am coming to terms with the values the present generation lives by. I have to bear in mind  when  collaborating with them that there are values that I would consider critical but that  they would  deem unimportant.† â€Å"I am building relationships with people from different countries, sharing my life and work experiences, giving honest feedback to teammates and colleagues and leveraging these relationships to promote the values which help us become better human beings.† Speaking about her contribution at Hult, Dr. Manihani says: â€Å"I am building relationships with people from different countries, sharing my life and work experiences, giving honest feedback to teammates and colleagues and leveraging these relationships to promote the values which help us become better human beings.† As Mr. Kirsch has experienced the recent economic recession, he has shared his views and knowledge during class discussions, while Mr. Sabharwal has also shared his in-depth understanding of the aviation sector while doing team projects. Both Ms. Bakshi and Dr. Manihani are of the view that their classmates view them differently, albeit in a positive way. Ms. Bakshi says: â€Å"My teammates respect me and value my opinion highly. As a result, I have mentored a few of my peers during events such as hackathons or business competitions.† On this, Dr. Manihani adds: â€Å"Yes, I get a lot of respect from my classmates. I try to help them whenever I can. I have also identified some future leaders among the Hult students, and I am trying to cultivate personal interactions with them as a friend and mentor.† Value-added learning process Since I joined the school, even my experience at Hult has not been too different from the students mentioned above. I get a lot of respect, and sometimes even questions on writing, journalism, global business, and politics. [Tweet All students at Hult are an asset for the entire learning process.] All students at Hult are an asset for the entire learning process. However, students with loads of experience not only add value to class discussions and teams with their personal stories but could also act as mentors to their willing younger peers. With their choice of Hult students, the admissions team has done a great job in providing an intellectual melody of knowledge and learning. Bravo! If you would like to find out more about our business programs,  download a brochure here. Syed Atique  Hussain is an MBA Candidate at Hult’s Boston campus. He has worked as a journalist in print, broadcast and digital media for 16 years in India, Saudi Arabia and the  United Arab Emirates. Hult offers a range of highly skills-focused and employability-driven business school programs including a range of MBA options and a comprehensive one year Masters in International Business. To find out more, take a look at our blog 5 big reasons why to apply early for your MBA or Masters. Download a brochure or get in touch today to find out how Hult can help you to learn about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .