Dutch queen stresses for more financial inclusion
Ends 3-day visit to Bangladesh
DIPLOMATIC CORRESPONDENT
Dutch Queen Mxima, also the United Nations Secretary-Generals Special Advocate for Inclusive Finance for Development, has placed great emphasis on much more financial inclusion in Bangladesh saying that majority of the population of the country do not have access to financial services.
While providing financial services, she stressed the need for protecting the interest of the consumers.
The Dutch queen was addressing a press conference before concluding her three-day visit to Bangladesh at a hotel in the capital. Bangladesh Bank Governor Dr Atiur Rahman was also present at the programme.
Only 30 per cent of adults in Bangladesh are using financial services. So, its still a long way to go, said the queen, adding that recent progress in Bangladesh including mobile banking is significant.
The Bangladesh Bank governor disagreed with the queen, arguing that the figure is now higher. In response, the Dutch queen said that there might be some disparity in the figures. Queen Mxima said financial inclusion is not only about getting credits rather it involves wide range of important issues like savings, health, insurance and job creation.
The impact of financial inclusion can be transformative. Affordable, effective and safe financial
services can play a powerful role in fostering equitable growth and advancing development goals such as poverty reduction, job growth, gender equity, and food security, she said.
With access to broad range of tools not just credit but also savings, insurance, payments, and more families can move out of poverty, small businesses can expand into larger ones, and societies and economies can grow stronger and more inclusive, she added.
Queen Mxima also said that Bangladesh is working on a draft National Financial Inclusion Strategy that will be finalised in coming months. The objective of the strategy is to develop financial services keeping in mind Bangladeshs aspiration to become a middle income country by 2021, she said. The Bangladesh Bank governor said that the objective of the government is to have 100 per cent inclusion by 2021.
Describing the issue of governance as important, Queen Mxima said that financial inclusion makes corruption difficult. Financial inclusion can help Bangladeshs society and economy grow stronger and more inclusive, the queen said, adding that building a strong financial sector is essential for the country to meet Bangladeshs development goals.
