Former Bangladesh Bank Governor Dr Atiur Rahman stressed the need for more focus on developing human capital along with the innovative inclusive financing to cope with the emerging financial challenges.
“While different challenges are emerging in contemporary financial sector, we still have the access to cope with the situation. We need to learn from prevailing best practices not only in the areas of innovative inclusive financing, but also in developing human capital”, said Atiur.The former governor of Bangladesh Bank made the remarks during the inauguration of Banking Finance and Insurance Institute of Nepal (BFIN) Ltd in Kathmandu on Tuesday.
Dr. Satish Chandra, Senior Advocate of Supreme Court of India and former President of Custom, Excise and Service Tax Appellate Tribunal; and Bashyam Renganathan, Executive President of Edelweiss Financial Services Ltd. Mumbai also spoke on the occasion.
In his speech, Dr. Atiur opined that a paradigm shift may have already been taken place in the financial sector. “Hence the new role of the financial sector ought to be embraced, where it goes beyond just providing a set of financial services and takes into account new parameters related to sustainable development,” he added.
“The link between human development and financial inclusion has to be understood and embraced in practice. But to attain this goal, the financial service providers have to be human as well. And here comes the strategic role of human resource development for making the financial sector more broad-based”, said the former governor.
Besides, the inaugural speech Dr. Atiur also presented a keynote paper on ‘Financial Inclusion for Sustainable Development’ which focused on the link between financial inclusion and long-term sustainability.
In particular, he talked about Bangladesh’s gains in making its development more sustainable through its innovative inclusive financing approach, a lesson which can be replicable by other developing countries of the region.