Bangkok--19 Feb--Asian Institute of Technology
Bangladesh represents a unique example of inclusive banking, where the underprivileged are able to open bank accounts for as little as 10 taka (12 cents). Moreover, 80 percent of the rickshaw pullers in the capital city of Dhaka use mobile financial services. Mobile financial services cross USD 1 billion every month, and in January 2015 it touched $ 1.2 billion. Unraveling the success story of Bangladesh was Dr. Atiur Rahman, Governor, Bangladesh Bank, at a lecture delivered at the Asian Institute of Technology (AIT) on 16 February 2015.
With the Ambassador of Bangladesh to Thailand, H.E. Ms. Saida Muna Tasneem in the audience, Dr. Rahman remarked that financial inclusion was bolstering economic growth in the country. He commended AIT’s partnership with the Bangladesh Bank, stating that officers of the Bank had benefitted from their education and training at AIT. Describing AIT as a “bridge” that provides opportunities for Bangladesh Bank officials to emerge as future leaders, the Governor stated that capacity building is instrumental in a country’s development.
H.E. Ms. Tasneem commended Dr. Rahman stating that he was globally recognized and commended banker and development practitioner. She also described AIT as a “high seat of excellence in technology, environment and sustainability.” Introducing the Governor, Dr. Jonathan Shaw, Executive Director, AIT Extension, highlighted the long and successful partnership between AIT and the Bangladesh Bank.
Delivering his talk, Governor Rahman stated that the focus on financial inclusion by his bank had led to stability in the financial sector. Highlighting the initiatives of the Bangladesh Bank, which is the central bank of the country, Dr. Rahman mentioned that it is mandatory for all banks to ensure a minimum of 2.5 per cent lending to the agriculture sector. Bank accounts for farmers have crossed 10 million, and easier farm credit has helped Bangladesh emerge as a net exporter of rice and become self sufficient in a number of crops. Further, one million sharecropper families have benefitted from this scheme. He narrated how schemes of financial inclusion have helped the agriculture sector, small and medium enterprises, as well as children.
Photo caption: Dr. Atiur Rahman (left) is seen with H.E. Ms. Saida Muna Tasneem