Pabna University of Science and Technology

Faculty Profile

Dr. Masud Rana

Ph.D. (2023) in Business Administration from PUST and BBA, MBA in Finance and Banking from RU.

Associate Professor (Finance) 

Department of Business Administration

Pabna University of Science and Technology

Pabna, Bangladesh

Contact Information

 +880 1729591799 (Personal)

2292 (PABX)

masud@pust.ac.bd (Office)

masud7648@gmail.com (Personal)

Download CV

Total Publications: 51

Total Publications (51)

45
1
4
1

Biography (1)

  • Dr. Masud Rana is an Associate Professor in the Department of Business Administration at Pabna University of Science and Technology (PUST), Bangladesh. Since joining PUST on September 2, 2023, he has continued his dedication to education and research. Dr. Rana holds a Bachelor of Business Administration (B.B.A.) and a Master of Business Administration (M.B.A.) in Finance and Banking from the University of Rajshahi, where he graduated with notable distinctions. His academic journey led him to pursue a Ph.D. focusing on the "Impact of Monetary Policy on the Economic Development in Bangladesh" at PUST, under the supervision of esteemed professors from both PUST and the University of Chittagong. Dr. Rana’s teaching career began in 2014 when he joined PUST as a Lecturer, later advancing to Assistant Professor in 2016 before becoming an Associate Professor in 2023. He has supervised a significant number of graduate and postgraduate students. Despite the challenges posed by limited research funding and heavy academic workloads, Dr. Rana has made valuable contributions to peer-reviewed international and national journals. His academic career reflects his early passion for engaging in education and research. Dr. Rana’s contributions have been recognized with several awards, including the Best Research Award at PUST in 2022. His research continues to influence the fields of monetary policy, green banking, ESG, SDGs Achievements and the economic development of Bangladesh.

Education (5)

  • Ph.D. awarded on “Impact of Monetary Policy on the Economic Development in Bangladesh” in the Pabna University of Science and Technology, Pabna-6600, Bangladesh. Under the supervision of Dr. Mohammad Saleh Jahur, Professor, Department of Finance, University of Chittagong, Chittagong-4331, Bangladesh and Dr. Md. Abduallah Al Mamun, Associate Professor, Department of Business Administration, Pabna University of Science and Technology, Pabna-6600, Bangladesh.
  • Master of Business Administration (M.B.A.) (Course work and a thesis) in Finance and Banking in 2012 (held in 2014) from University of Rajshahi (RU), Rajshahi-6205, Bangladesh securing CGPA 3.67 (in scale of 4.00).
  • Bachelor of Business Administration (B.B.A.) major in Finance and Banking in the year 2011 (held in 2013) from University of Rajshahi (RU), Rajshahi-6205, Bangladesh securing CGPA 3.55 (in scale of 4.00).
  • Higher Secondary Certificate (HSC) Examination in 2007 with GPA 4.80 (in scale of 5.00) from Cambrian College, Dhaka, Bangladesh.
  • Secondary School Certificate (SSC) Examination in 2005 with GPA 5.00 (in scale of 5.00) from Baoikola Yakubia Dhakil Madrasah, Pabna, Bangladesh.

Teaching Experience (3)

  • Associate Professor (Finance) in the Department of Business Administration at Pabna University of Science and Technology (PUST),Pabna 6600, from 2nd September 2023 to present.
  • Assistant Professor in the Department of Business Administration at Pabna University of Science and Technology (PUST),Pabna 6600, from 25th November 2016 to 1st September 2023.
  • Lecturer in the Department of Business Administration at Pabna University of Science and Technology (PUST),Pabna 6600, from 25th November 2014 to 24th November 2016.

Administrative or Other Experience (4)

  • Worked at Proctor, Pabna University of Science and Technology, Pabna. From 14/08/2024 to 19/08/2024.
  • Worked at Assistant Proctor at Pabna University of Science and Technology, Pabna, Bangladesh From 01/09/2022 to 13/08/2024.
  • Member Academic Committee, Dept. of Business Administration, Pabna University of Sciences and Technology, From 25/11/2014 to till now.
  • Coordinator EMBA, Batch-11, Dept. of Business Administration, Pabna University of Sciences and Technology.

Research Interests (4)

  • Monetary Policy in Bangladesh
  • Capital Market
  • Ratio Analysis of Financial Statement
  • Dividend Policy

Active Research Project (5)

  • SPM-HEAT Project (PIN-13439) – "Rooppur Nuclear Power Plant: Transforming Innovation, Employment, Growth, and Sustainability of Northern Bangladesh in Achieving the SDGs".
  • UGC Project (2022-2023). "Investigating the Feasibility of Decentralized Finance (DeFi) Platforms as a Replacement for Traditional Financial Services".
  • Monetary Policy in Bangladesh
  • The Impact of Dividend Policy on Share Price
  • Green Banking in Bangladesh

External Affiliation (4)

  • Associate Editor, UniversePG https://www.universepg.com/journal/cjbis
  • Expert Trainer (Financial Planning) at Bangladesh Investment Development Authority- BIDA, Prime Minister’s Office from 22 August 2019 to present.
  • External Course Teacher, Department of Accounting and Informatin System, Bangabandhu Sheikh Mujibur Rahman Science and Technology University, Gopalganj, Bangladesh
  • External Course Teacher, Department of Management Studies, Bangabandhu Sheikh Mujibur Rahman Science and Technology University, Gopalganj, Bangladesh

Awards & Recognition (1)

  • Best Research Award 2022, Pabna University of Science and Technology, Pabna.

Journal Articles (45)

  • Rana, M., Ghosh, S., Hasan, M.M. et al (2025). The Nexus between interest rates and inflation in South Asia: the role of risk premiums and economic growth. Discov glob soc 3, 105. https://doi.org/10.1007/s44282-025-00249-7. Publisher: Springer (Scopus Indexed)
  • Mamun, M. a. A., Dhar, B. K., Islam, H., Rana, M., Saha, S., Biswas, A. K., & Karim, R. (2025). Enhancing banking performance through regulatory technology: Analyzing cost reduction, sustainability, and profitability in Bangladesh’s banking sector. Sustainable Futures, 10, 101234. https://doi.org/10.1016/j.sftr.2025.101234 Publisher: Elsevier, Q1 (Scopus)
  • Zhu, R., Islam, H., Rana, M., Rahman, K., Karim, R., Chakrobortty, T., & Rahman, M. M. (2025). Towards sustainable development: how resource depletion, emissions, and renewable energy shape progress in OECD nations. Air Quality, Atmosphere & Health, 1-22. Publisher: Springer, Q2 (Scopus).
  • Rana, M. (2025). The role of natural resource rents in achieving sustainable development goals: evidence from South Asian countries. Discover Environment, DOI:10.1007/s44274-025-00258-y. (Accepted). Publisher: Springer (Scopus).
  • Rana, M., Siddieq, M. M., Islam, H., & Alam, S. S. (2025). Evaluating the Impact of Sustainable Energy Access on Achieving SDGs in Eastern Asia: A Quantitative Approach. Energy 360, 100031. https://doi.org/10.1016/j.energ.2025.100031. Publisher: Elsevier.
  • Rana, M., Al Mamun, M.A., Hossain, M.K. et al. (2025). Understanding the adoption of renewable energy technologies by households in South Asia: a theory of planned behavior perspective. Discov Sustain 6, 477. https://doi.org/10.1007/s43621-025-01051-w. Publisher: Springer, Q1 (Scopus).
  • Al Mamun, M. A., Islam, H., Karim, R., Siddieq, M. M., & Rana, M. (2025). Exploring the role of blockchain technology in promoting sustainability in the banking sector: an empirical analysis using structural equation modeling. AI & SOCIETY, 1-15. https://doi.org/10.1007/s00146-025-02250-9. Publisher: Springer, Q1 (Scopus).
  • Rana, M. (2025). Climate risk and resilience: evaluating their impact on sustainable development in South Asia. Theor Appl Climatol 156, 319. https://doi.org/10.1007/s00704-025-05531-x. Publisher: Springer, Q2 (Scopus).
  • Rana, M., Islam, H., Al Mamun, M. A., & Rekha, R. S. (2025). Impacts of bank loan performance, stability and risk factors on sustainable development goals: insights from South and Southeast Asia. Asia-Pacific Journal of Regional Science, 9(2), 449-478. https://doi.org/10.1007/s41685-025-00377-7. Publisher: Springer, Q2 (Scopus).
  • Rana, M., Islam, H., Al Mamun, M. A., & Redwanuzzaman, M. (2025). FinTech’s impact on grocery retail in Bangladesh: a TAM approach. OPSEARCH, 1-24. https://doi.org/10.1007/s12597-025-00955-5. Publisher: Springer, Q2 (Scopus).
  • Rana, M., Mamun, M. A. A., Islam, H., & Hossain, M. K. (2024). Exploring the Impact of ESG Practices on Sustainable Development Goals Achievement in South Asia. Review of Economics, 75(3), 249-274. https://doi.org/10.1515/roe-2024-0053. Publisher: DE Gruyter, Q2 (Scopus).
  • Islam, H., Soumia, L., Rana, M., Madavarapu, J.B. and Saha, S. (2024), "Nexus between perception, purpose of use, technical challenges and satisfaction for mobile financial services: theory and empirical evidence from Bangladesh", Technological Sustainability, Vol. 3 No. 2, pp. 147-170. https://doi.org/10.1108/TECHS-10-2023-0040. Publisher: Emerald, Q2 (Scopus).
  • Islam, H., Rana, M., Saha, S., Khatun, T., Ritu, M.R. and Islam, M.R. (2023), "Factors influencing the adoption of cryptocurrency in Bangladesh: an investigation using the technology acceptance model (TAM)", Technological Sustainability, Vol. 2 No. 4, pp. 423-443. https://doi.org/10.1108/TECHS-07-2023-0025. Emerald, Q2 (Scopus).
  • Rana, M., Al Mamun, M. A., Hossain, M. K., & Rekha, R. S. (2021). The nexus between scholarship programs and higher education. SN Social Sciences, 1, 1-23. https://doi.org/10.1007/s43545-021-00199-2. Publisher: Springer, Q2 (Scopus).
  • Islam, M. M., Redwanuzzaman, M., & Rana, M. (2025). Exploring the role of insurance sector performance in driving economic growth in Bangladesh: A financial metrics perspective. Journal of Ekonomi, 7(2), 95-106.
  • Rana, M., & Islam, M. M. (2024). Unveiling the Dynamics of Informal Remittances: An In-Depth Study of Hundi Practices in Bangladesh. Reforma (100), 55-65. Publisher: Turkish Manas University.
  • Rana, M. (2024). Monetary Policy Challenges in Bangladesh: A Regulatory and Banking Perspective. Reforma, (99), 23-41. Publisher: Turkish Manas University.
  • Rana, M., & Al Mamun, A. (2024). Monetary policy dynamics and economic performance in Bangladesh: An ARIMA model approach. Journal of Economics and Research, 5(1), 47-62.
  • Rana, M., Al Mamun, A., Hossain, M. K., & Islam, H. (2024). Exploring the dynamics of Bangladesh bank's monetary policy: A factor analysis approach. Journal of Ekonomi, 6(1), 1-17.
  • Rana M. (2024). Navigating post-pandemic challenges: Bangladesh faces BoP deficit and rising inflation. Int. J. Res. Manage. 6(1):370-376. DOI: 10.33545/26648792.2024.v6.i1d.168
  • Rana M. (2024). Bangladesh's foreign exchange reserves: A comparative study with key South Asian economies. Int J Foreign Trade Int Bus; 6(1):80-85. DOI: 10.33545/26633140.2024.v6.i1a.105.
  • Rana, M., Hossain, M. K., & Rekha, R. S. (2023). The Operational Aspects of Monetary Policy in Controlling the Demand and Supply of Money. Journal of Business Studies, 4(1), 177–200. https://doi.org/10.58753/jbspust.4.1.2023.26
  • Rekha, R. S., Hossain, M. I., & Rana, M. (2023). The Influence of the COVID-19 Pandemic on the Uptake of Technology-Enabled Banking in Bangladesh. Journal of Business Studies, 4(1), 276–296. https://doi.org/10.58753/jbspust.4.1.2023.31
  • Rana, D. M., Mamun, D. M. A. A., Hossain, D. M. K., & Rekha, R. S. (2023). Monetary Policy Efficacy for Price Stability: An In-depth Analysis of Bangladesh’s Economic Landscape. AIUB Journal of Business and Economics, 20(2), 44–58. Retrieved from http://116.206.57.42/index.php/ajbe/article/view/200
  • Mamun, M. A., Rana, M., Islam, M., & Mamun, M. A. (2023). Exploring the factors that affecting adoption of mobile banking in Bangladesh. Journal of Global Business Insights, 8(1), 66-79. https://www.doi.org/10.5038/2640-6489.8.1.1235
  • Islam, T., & Rana, M. (2023). AI Integration in Business: Driving Sustainable Customer satisfaction. NPIUB Journal of Business, 1(1), 47–71. https://npiub.edu.bd/npiub/journal.
  • Islam, M. S. and Rana, M. (2022). The Influence of Credit Risk Management Indicators on Profitability Attributes: Empirical evidence from the State-Owned Commercial Banks in Bangladesh. Journal of Business Studies, PUST, 3(1), 43-60.
  • Islam, T., Islam, H., Rana, M., & Hossain, K. (2022). Post COVID logistics, strategies and actions need to be taken: evidence from small and medium scale food and beverages manufacturing sector. Logistics, Supply Chain, Sustainability and Global Challenges, 13(1), 32-49.
  • Rana, M., Rekha, R. S. & Islam, H. (2022). The Impact of Digitalization on the Economic Growth of Bangladesh. Journal of Business Studies, PUST, 3(1), 107-118.
  • Islam, H., Johora, F., Abbasy, A. A., Rana, M., & Antoine, N. (2021). The perceived impact of COVID-19 pandemic on healthcare cost in Bangladesh. Journal of Global Business Insights, 6(2), 172-185.
  • Mamun, D. M. A. A. A., Ullah, M. H., & Rana, M. (2021). Impact of Capital Structure on Profitability of Cement Industry in Bangladesh. BUFT Journal of Business & Economics (BJBE), ISSN 2664-9942 (Print), 2, 217–228.
  • Islam, H., Rana, M., Sarker, N. K., & Siddique, M. A. B. (2020). Does Bangladesh Need to be Established Derivatives Markets?. Journal of Economics and Business, 3(2).
  • Al Mamun, A., & Rana, M. (2020). Green banking practices and profitability of commercial banks in Bangladesh. IOSR Journal of Economics and Finance, 11(5), 10-14.
  • Rana, M., & Hasan, M. M.-U. (2020). Performance Evaluation of Selected Commercial Banks in Bangladesh Based on Profitability: A Comparative Analysis. Journal of Business Studies, Special Issue on Business and Sustainable Development, University of Rajshahi, JBS-ISSN 2303-9884 (Print), 231–242.
  • Redwanuzzaman, D. M., Hossain, M. K., & Rana, M. (2021). Determinants of Garment Owners’ Perception in Selection of Banks: Evidence from Bangladesh. BUFT Journal of Business & Economics (BJBE), ISSN 2664-9942 (Print), 2, 35–47.
  • Rekha, R. S., Hossain, M. I., & Rana, M. (2020). Measuring Financial Inclusion Index in Bangladesh: A Multidimensional Approach. Journal of Pabna University of Science and Technology Studies, ISSN 2308-6246, 4(2), 75–84.
  • Nayan Kumar Sarker, Hasibul Islam, Masud Rana, MD Ruhul Amin. “Corporate Social Responsibility Practices: A Study on Foreign Commercial Banks in Bangladesh”. European Journal of Business and Management, ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online), Vol.12, No.21, 2020, 139-148. https://iiste.org/Journals/index.php/EJBM/article/view/53564/55350.
  • Rana, M., Mamun, M. A. A., & Siddique, M. A. B. (2020). Measuring the Financial Performance of Private Commercial Banks in Bangladesh. Journal of Pabna University of Science and Technology Studies, ISSN 2308-6246, 4(2), 85–96.
  • Rana, M., & Siddique, M. A. B. (2019). Green banking in Bangladesh: A descriptive analysis. IOSR Journal of Business and Management, 21(7), 57-67.
  • Rana, M. (2018). “Profitability Position of selected Commercial Banks in Bangladesh”. Journal of Business Studies, PUST, ISSN 2410-8170 (Print), 1(1): 68-78.
  • Rana, M. (2016). Performance Evaluation of Rajshahi Krishi Unnayan Bank (RAKUB) in Bangladesh: An Exploratory Study. Finance and Accounting, 4(2), 71-80.
  • Rana, M. (2015). Corporate social responsibility (CSR): Opportunities and challenges of banking sector in Bangladesh. Journal of Finance and Accounting, 3(6), 234-246.
  • Hossain, M. K., Rana, M., & Ahmed, F. (2016). Impact of recession on ready-made garments of Bangladesh: a critical analysis. Int J Appl Res, 2, 85-90.
  • Masud Rana, Md. Kamal Hossain, Rebeka Sultana Rekha. Profitability and liquidity of conventional banking and Islamic banking in Bangladesh: A comparative study. Int J Appl Res 2016;2(9):318-327. https://www.allresearchjournal.com/archives/2016/vol2issue9/PartE/2-8-91-627.pdf.
  • Masud-Ul-Hasan, M., Rahman, M. H., & Rana, M. (2015). Identifying service quality attributes and measuring customer satisfaction of dhaka-pabna route public bus service. Asian Business Review, 5(2), 72-78.

Conference Proceedings (4)

  • BBR-2025-127: Poverty, Unemployment, and Carbon Emissions: Evaluating South Asia's Progress toward SDG Achievement. International Conference on The Future of Business: Innovation, Technology and Sustainability. Organized by Bureau of Business Research, Faculty of Business Administration, University of Chittagong, Bangladesh.
  • BBR-2025-123: Exploring the the Role of Environmental, Social and Governance Factors in Enhancing the Bank Profitability in South Asia. International Conference on The Future of Business: Innovation, Technology and Sustainability. Organized by Bureau of Business Research, Faculty of Business Administration, University of Chittagong, Bangladesh.
  • "International Webinar 2020 on 'Financing and Managing Rural Development" Organized by Department of Finance, University of Chittagong, Bangladesh
  • International Conference on Business and Sustainable Development (ICBSD 2018), March 8-9, Organized by Faculty of Business Studies, University of Rajshahi, Bangladesh.

Published Book (1)

  • Hasibul Islam and Masud Rana (March 29, 2021). " The Importance of Derivatives Markets in Bangladesh: Why does Bangladesh need to Establish Derivatives market for the economic growth? Publisher ‏ : ‎ LAP LAMBERT Academic Publishing. ISBN-10 ‏ : ‎ 6203581720 ISBN-13 ‏ : ‎ 978-6203581720. Link: https://www.amazon.com/Importance-Derivatives-Markets-Bangladesh-Establish/dp/6203581720

Published Book Chapter (1)

  • Islam, H., Saha, S., Siddieq, M.M., Rana, M., Rahman, K. (2025). Riding the Bitcoin Wave: Attitude and Adoption in Bangladesh. In: Crowther, D., Seifi, S. (eds) Equalizing the Three Pillars of Sustainability. Approaches to Global Sustainability, Markets, and Governance. Springer, Singapore. https://doi.org/10.1007/978-981-96-5719-3_7

Conducted Courses (6)

  • Financial Derivatives
  • Econometrics
  • Corporate Finance
  • International Finance
  • Insurance and Risk Management
  • Principles of Finance

Other's Faculty Members