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‘Govt policy support needed to expand financial inclusion’

Published : Wednesday, 29 December, 2021 at 12:00 AM  Count : 790

PRI Executive Director Dr Ahsan H. Mansur speaking at a training programme titled

PRI Executive Director Dr Ahsan H. Mansur speaking at a training programme titled

Economists at a programme on Tuesday underscored the needs for infrastructure development and government policy support for financial inclusion.
They also said higher tax rate is one of the major barriers in telecommunication of the country. However, sometimes mobile financing services depend on the telecommunication.
The observations came up with at the training programme titled "Financial Inclusion in Bangladesh: Imperatives and Practices" organized by Policy Research Institute of Bangladesh (PRI) and the Economic Reporters' Forum (ERF) at ERF Auditorium in Dhaka.
According to the EIU global Microscope report 2020, Bangladesh ranked 44 out of 55 countries in overall financial inclusion. In consumer protection index, Bangladesh ranked 48 out of 55 countries presented by PRI Director Dr Bazlul H Khondker at the programme.
"Bangladesh notably lacks in infrastructure and government policy as we all support," PRI Executive Director Dr Ahsan H. Mansur also suggested the government to upgrade all database for landscapes development.
"The economic circumference of Bangladesh is developing day by day so every one of the country's people should be included under the financial inclusion," the noted economist also said.
Dr Mansur added that there is digitally huge potential in all sectors in Bangladesh. Though, there are some challenges too.  However, these have to be resolved finding out all weaknesses.
The economist urged mobile financial organizations to ensure transparency and good governance in their services for the sake of mass people.
He also presented documents titled, "Financial Inclusion and its role in Bangladesh's development."
Pointing out the income disparity is increasing vastly in Bangladesh; PRI Research Director Dr. Abdur Razzaque suggested the government to take proper initiative to reduce disparity in society. The disparity may decline if financial inclusion is gone up.
"We should include all people of the country including poor and women under digital financing services. We need proper database to ensure accountability in the country," the economist also said.
Dr Razzaque said Bangladesh has enough progressed from economic fragile in the last 50 years.  "So, now we need to go forward to take proper strategy for the sake of future development," he added.
He also presented keynote titled, "Financial Inclusion through social protection and G2P payments" there.
Executive Director of Bangladesh Bank Debdulal Roy said it is the key issue for the country how the excluded people can be included in the financial services.
"We should adopt with the 4IR (Fourth Industrial Revolution) mechanism. The government spends a lot of money in social safety net programme. We can't distribute properly it due to lack of database," he also added.
Presenting another keynote paper at the event titled, "National Financial Inclusion Strategy: Key issues and implications," PRI Director Dr Bazlul H Khondker said the financial inclusion is very important for eliminating poverty.
"Now, our youth community would like to work with technology mechanism so the government should do financial strategy in this regard," the economist also said.
ERF President Sharmeen Rinvy presided over the function while its General Secretary S M Rashidul Islam moderated it.

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