Development must reach the farmer before the financier, the village before the metropolis and the grassroots before the headlines.
A government’s success should not be measured solely by the prosperity of its cities, but by the hope, opportunity and dignity it delivers to villages, farms and rural households, according to Md. Mazibur Rahman, Managing Director and CEO of Janata Bank PLC.
Speaking at The Daily Observer’s National Dialogue titled “From Ballot to Balance Sheet: The New Government, New Vision”, the veteran banker said the true measure of the new administration’s success would lie in its ability to transform the lives of ordinary people across rural Bangladesh.
Praising the new administration led by Tarique Rahman, the chief executive said the new government had already launched a number of promising initiatives aimed at strengthening the financial sector, expanding financial inclusion and reducing
poverty.
Among the measures he highlighted were the introduction of farmer cards, poverty alleviation cards and a nationwide canal excavation programme intended to enhance agricultural productivity, improve water management and strengthen rural livelihoods.
“A truly promising beginning is one that places rural people at the centre of national development,” Mazibur Rahman told Jibon Islam, Senior Correspondent of The Daily Observer.
“When rural families gain access to employment, finance, healthcare and fair prices for their produce, economic growth becomes both meaningful and sustainable. The government’s early emphasis on grassroots development is an encouraging sign,” he observed.
An expert in agricultural economics, the CEO of Janata Bank is now leveraging his specialised background to reshape the bank’s lending priorities with a view to strengthening the grassroots economy and reinforcing national food security.
In this regard, he said the state-owned commercial bank had unveiled a strategic roadmap to accelerate financial inclusion and stimulate rural development through targeted agricultural financing.
With a network of more than 920 branches nationwide, the CEO claimed that the Janata Bank is aggressively narrowing the gap between urban capital and unbanked rural communities. The bank’s current strategy centres on integrating digital financial technology into its traditional branch-based structure.
“This digital transformation is enabling remote farmers to access remittance services, manage micro-savings and receive government safety-net payments securely and efficiently,” he said.
Expressing optimism about the country’s future direction, Mazibur Rahman said he hoped the government’s development agenda would remain firmly rooted in inclusiveness and focused on fulfilling the aspirations of rural communities and low-income households.
“The foundation of a stronger Bangladesh lies in its villages. Empowering rural communities from the outset is not merely sound social policy �" it is smart economic policy. Development must reach the farmer before the financier, the village before the metropolis and the grassroots before the headlines,” he remarked.
“The new government is maintaining close market oversight to ensure farmers received fair prices for their produce. If these initiatives are implemented effectively and transparently, they will not only accelerate economic growth but also improve living standards and create lasting prosperity across the country,” he added.
Beyond rural development, Mazibur Rahman shared his views on banking sector reforms, loan recovery drives, inflationary pressures, remittance growth and the broader outlook for Bangladesh’s financial sector under the new administration.
Addressing inflation, he said rising prices were largely the consequence of global developments rather than domestic factors alone. According to him, the Russia�"Ukraine war and tensions involving the United States and Iran had driven up global fuel prices, increasing transportation costs and, ultimately, the prices of essential commodities.
“It is important to understand that inflation is not unique to Bangladesh. It is a global phenomenon driven by geopolitical instability and supply chain disruptions. However, the government remains highly vigilant and committed to bringing inflation under control,” he said.
Mazibur Rahman described the government’s early economic management approach as encouraging, observing that instead of introducing a separate 100-day programme for the banking sector, the administration had focused on broader governance and structural financial reforms.
He said a series of initiatives had already been undertaken to strengthen the banking industry, particularly in tackling the long-standing challenge of non-performing loans (NPLs).
“The new governor has adopted a tougher stance on loan recovery and issued clear directives to prevent fresh loans from slipping into default. Effective implementation of these measures will significantly strengthen the banking sector,” he said.
One of the most encouraging developments, he added, was the assurance that the banking sector would remain protected from political interference.
“A politically independent banking system is essential for sustainable growth, transparency and public confidence. If political influence is minimised, the sector will become stronger, more resilient and better equipped to support economic development,” he remarked.
On poverty reduction, the Janata Bank chief reiterated that the government’s rural-focused initiatives could prove transformative if implemented effectively.
He stressed that ensuring fair prices for farmers and expanding access to financial services would stimulate grassroots economic activity while reducing inequality.
Turning to the issue of defaulted loans, Mazibur Rahman acknowledged that non-performing loans remained one of the banking sector’s greatest challenges.
