Expedite long-term investment, Atiur urges bankers

Pension schemes for informal sector comming

Bangladesh Bank Governor Atiur Rahman yesterday urged the bankers to proactively come forward for long-term lending in the infrastructure sector for boosting economic growth of the country. He also said central bank is working with the government towards putting in place pension savings schemes. “BB is working with the government towards putting in place pension savings schemes for the general citizenry, including non-resident Bangladeshis (NRBs), besides the existing pension and provident fund schemes for formal sector employees,” he said. He said as an interim measure, the BB has already lined up a WB-funded $300-million longer-term local lending line. “Another $200-million longer-term lending line from BB’s own resources is being lined up to support green transition of our export-oriented textiles/apparel and leather sectors,” he added. Speaking as the chief guest at the inaugural session of an international seminar on ‘Banking in Bangladesh: The Leap Forward’, organised by the Association of Bankers Bangladesh Ltd (ABB) at a hotel in the capital, the governor said a transition from financing the traditional manufacturing sector to energy-efficient ‘green’ options was required for ensuring a better business environment. Atiur also urged the bankers to increase the amount of green  financing to ensure an ecologically-sustainable business environment.
“Concerted, whole-hearted engagement of our financial sector in environmentally sustainable green and inclusive financing will enable the real sector of our economy to uphold export competitiveness,” he asserted. The governor said with such engagement, the financial sector would indeed be able to assume a guiding role in fostering a sense of social and environmental responsibility in real sector businesses. Rahman further said the BB has, over the past few years, been proactively driving necessary enablement initiatives for the banking sector, such as leading a countrywide massive modernisation of the payments system and the financial sector IT infrastructure. The governor said the government and the BB has given IFC the go-ahead for its issuance of Taka-denominated bonds of up to USD 1.0 billion, proceeds of which will be used in longer-term lending to projects in Bangladesh.

 

Expedite long-term investment, Atiur urges bankers

Pension schemes for informal sector comming

Bangladesh Bank Governor Atiur Rahman yesterday urged the bankers to proactively come forward for long-term lending in the infrastructure sector for boosting economic growth of the country. He also said central bank is working with the government towards putting in place pension savings schemes. BB is working with the government towards putting in place pension savings schemes for the general citizenry, including non-resident Bangladeshis (NRBs), besides the existing pension and provident fund schemes for formal sector employees, he said. He said as an interim measure, the BB has already lined up a WB-funded $300-million longer-term local lending line. Another $200-million longer-term lending line from BBs own resources is being lined up to support green transition of our export-oriented textiles/apparel and leather sectors, he added. Speaking as the chief guest at the inaugural session of an international seminar on Banking in Bangladesh: The Leap Forward, organised by the Association of Bankers Bangladesh Ltd (ABB) at a hotel in the capital, the governor said a transition from financing the traditional manufacturing sector to energy-efficient green options was required for ensuring a better business environment. Atiur also urged the bankers to increase the amount of green financing to ensure an ecologically-sustainable business environment. Concerted, whole-hearted engagement of our financial sector in environmentally sustainable green and inclusive financing will enable the real sector of our economy to uphold export competitiveness, he asserted. The governor said with such engagement, the financial sector would indeed be able to assume a guiding role in fostering a sense of social and environmental responsibility in real sector businesses. Rahman further said the BB has, over the past few years, been proactively driving necessary enablement initiatives for the banking sector, such as leading a countrywide massive modernisation of the payments system and the financial sector IT infrastructure. The governor said the government and the BB has given IFC the go-ahead for its issuance of Taka-denominated bonds of up to USD 1.0 billion, proceeds of which will be used in longer-term lending to projects in Bangladesh.