Bangladesh Bank (BB) received the prestigious Global Youth Financial Inclusion Award from the Alliance for Financial Inclusion (AFI) at the AFI Global Policy Forum (GPF) held on September 4, 2024, in El Salvador.
This accolade recognized BB's commitment to enhancing financial inclusion among the nation's youth, according to a BB press statement released on Sunday.
Several initiatives taken by the BB were highlighted during the award presentation, such as the introduction of Financial Literacy Guidelines for banks and financial institutions, targeted at students and youth. Additionally, the bank set up a Start-Up Fund to provide loans to young entrepreneurs aged 21-35, and launched a dedicated website to ensure customer protection and promote financial literacy.
BB also worked to integrate financial literacy content into the national curriculum and established over 4.3 million student accounts through its school banking program. Moreover, the bank emphasized the importance of women's financial inclusion, with 48.10 per cent of account holders being women, and provided loan facilities for students engaged in work and business.
AFI, an international network focusing on financial inclusion policies, currently boasts members from 84 countries, including central banks and finance ministries. Since 2016, BB has been an active member of AFI and continues to contribute to global financial literacy efforts.
The BB's consistent efforts in improving youth financial inclusion serve as a model for central banks worldwide, with a specific focus on digital financial inclusion for marginal groups.
The recognition further strengthens Bangladesh's position in the global financial inclusion landscape.
