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Academics and economists unanimously mentioned that financial inclusion has become an urgent need for sustainable development.
In the present context of global economy, financial inclusion is very much crucial for making the country’s economy more vibrant along with poverty-free Bangladesh, reports BSS.
They added that financial inclusion is an important tool for attacking poverty as it is important on all three dimensions of opportunity, empowerment and security. So, there is no alternative to expand the banking coverage particularly in the rural areas.
The economic experts came up with the observation while addressing a seminar titled “Financial Inclusion for Sustainable Development: A Regulator’s Tale” at Rajshahi University (RU) campus on Sunday.
Centre for Economic Studies (CES) of Department of Economics in RU organised the seminar at Mosharraf Hossain Gallery.
Former Governor of Bangladesh Bank Dr Atiur Rahman addressed the seminar as focal person narrating the issue of financial inclusion along with its concepts and relevance.
Chaired by Professor Mahbubur Rahman, Chairman of Economics Department, the seminar was addressed, among others, by CES Director Prof Elias Hossain, retired teachers of the department Prof Sanat Kumar Shaha and Prof Tarique Saiful Islam and former General Manager of Bangladesh Bank AFM Asaduzzaman.
Dr Atiur Rahman said financial inclusion is good and win-win for all the stakeholders including poor, banks, government and economy.
He said that the financial inclusion has become an issue of worldwide concern, relevant equally to economics of the underdeveloped, developing and developed nations.
In Bangladesh’s context, building inclusive financial systems focuses on equalizing opportunities coupled with addressing financial market imperfection that expand individual opportunities creates positive.
He underscored the need for giving more emphasis on inclusive banking so that more people are brought under banking coverage and they can contribute to the national economy as a whole.
Utmost emphasis should be given on relating all sections of people with financial institutions for making the development attained in the Bangladesh’s economy in last ten years sustainable.
Dr Rahman also advocated for expanding area of e-banking, agent banking and green-economy coupled with introduction of green bond to attain the cherished goal.