The developmental role of central bank has boosted up the inclusive growth process in Bangladesh benefiting the micro, small and medium enterprises, said Bangladesh Bank former Governor Dr. Atiur Rahman.
Prof Atiur also put emphasis on contribution of central bank to benefit businesses through strategic financing while addressing a seminar in United Kingdom on Tuesday.The former governor presented a keynote at a day-long symposium styled ‘Economic Growth, Development and Economic Sustainability’ at Swansea University UK, said a news release of Unnayan Shamannay.
While presenting the keynote paper, Prof Atiur said, “Major drivers of the inspirational growth trajectory of Bangladesh have been RMG-led export growth, steadily increasing flow of remittance, and growth of agricultural production. All these have been supported by financial inclusion drive spearheaded by the Central Bank of the country particularly during the last decade or so.”
Atiur believes the developmental role of the central bank has to be sustained if the country wants to attain is macro-economic objectives.
Dhaka University Business Faculty Dean Prof Shibli Rubayat Ul Islam, economist Prof Selim Raihan were also present at the meeting presided by Swansea University Prof David Blackaby.
Prof Backaby emphasised on the positive role of Universities in providing policy supports to the government for institutional development which was also echoed by Prof Atiur. Prof Atiur further elaborated the recent endeavors of Bangladesh Bank to ensure financial inclusion of the people belonging to the bottom of the social pyramid.
He highlighted the contribution of Bangladesh Bank’s on ensuring flow of finance to agriculture sector, promotion of SMEs, facilitating women entrepreneurship, enhancing green finance etc.Atiur also pointed out that despite these gains there remains a number specific emerging challenges for the financial sector such as- rising NPL, liquidity crunch, lack of good governance, underdeveloped capital and insurance market.