BB brings strategic changes in supervision
BSS
Bangladesh Bank (BB) has started bringing strategic changes in supervision of banking and financial sectors with the major objective of promoting good governance, Governor Atiur Rahman said yesterday, reports BSS.
In the backdrop of current internal control practices in some banks, BB has startedintroducing strategic changes in its existing supervision techniques for ensuring financial stability, the governor said while addressing the inaugural session of the Banking Conference 2015.
The Bangladesh Institute of Bank Management (BIBM) organised the annual event for the fourth time, bringing together economists and bankers for generating ideas and spawning innovative thoughts to address the current and emerging issues facing our banking sector.
Putting high importance on transparency, accountability and good governance, Atiur said the central bank had enhanced its monitoring process to promote good corporate governance in banking sector.
He said internal control structures are being strengthened and the process of risk identification, measurement and mitigation streamlined to move closer to the international best practices.
With our extensive digitization initiatives, it is expected that the existing and potential loopholes would be effectively addressed, the governor said.
Rahman said BB also stepped up its initiatives to implement an IT-enabled inclusive financing agenda as the conventional short-term business cycle focused monetary and financial policy had failed to address the longer term needs of inclusively and environmental sustainability.
