BB to introduce digital financial inclusion programme

Bangladesh Bank (BB) has planned to expedite the ongoing financial inclusion initiatives across the country using digital technologies, Governor Dr Atiur Rahman told a international event yesterday, reports BSS.
“We’re going to introduce digital financial inclusion programmes in Bangladesh aiming to bring more people into the financial system easily,” Rahman said as he was speaking at the SIBOS (Swift International Banking Operations) roundtable on Financial Inclusion: The Journey of Bangladesh held at Hotel Marina Bay Sands in Singapore, according to a BB press release. SIBOS is the world’s premier financial services event. It’s the annual conference, exhibition and networking event, organised by SWIFT for the financial industry.
Rahman said BB is now upgrading of its payment system and financial sector IT infrastructure enabling cost efficient online/mobile phone/smart card based financial service delivery vigorously to bring more unbanked people into the banking network, Rahman explained.
Besides, he said expansion of rural bank branch and agent banking activities are increasing gradually in the country. He also said the country’s entire financial sector is on board in the inclusion initiatives, inducted by BB’s sustained motivation campaign of ingraining an institutional ethos of socially responsible financing.
“We’re the key driver of the diverse financial inclusion initiatives countrywide,” the central bank chief noted.
The governor also emphasised on young recruits and focus on technology leading to fast digital financial inclusion as main features of the game changer in financial development in Bangladesh. Addressing the SIBOS ‘game changer’ session on the same day, he emphasised on technology to make banking and financial sectors more efficient and environment-friendly in providing their services.
“Transition from use of printed physical currency notes to the already technically feasible e-currency alternative will be a big advance both in environmental sustainability and monetary cost saving, provided we can address adequately the attendant security concerns,” the governor observed.

BB to introduce digital financial inclusion programme

Bangladesh Bank (BB) has planned to expedite the ongoing financial inclusion initiatives across the country using digital technologies, Governor Dr Atiur Rahman told a international event yesterday, reports BSS. Were going to introduce digital financial inclusion programmes in Bangladesh aiming to bring more people into the financial system easily, Rahman said as he was speaking at the SIBOS (Swift International Banking Operations) roundtable on Financial Inclusion: The Journey of Bangladesh held at Hotel Marina Bay Sands in Singapore, according to a BB press release. SIBOS is the worlds premier financial services event. Its the annual conference, exhibition and networking event, organised by SWIFT for the financial industry. Rahman said BB is now upgrading of its payment system and financial sector IT infrastructure enabling cost efficient online/mobile phone/smart card based financial service delivery vigorously to bring more unbanked people into the banking network, Rahman explained. Besides, he said expansion of rural bank branch and agent banking activities are increasing gradually in the country. He also said the countrys entire financial sector is on board in the inclusion initiatives, inducted by BBs sustained motivation campaign of ingraining an institutional ethos of socially responsible financing. Were the key driver of the diverse financial inclusion initiatives countrywide, the central bank chief noted. The governor also emphasised on young recruits and focus on technology leading to fast digital financial inclusion as main features of the game changer in financial development in Bangladesh. Addressing the SIBOS game changer session on the same day, he emphasised on technology to make banking and financial sectors more efficient and environment-friendly in providing their services. Transition from use of printed physical currency notes to the already technically feasible e-currency alternative will be a big advance both in environmental sustainability and monetary cost saving, provided we can address adequately the attendant security concerns, the governor observed.