FIs need to use modern tech to deliver better services: Humayun

Published : 19 May 2022 09:47 PM

Industries Minister Nurul Majid Mahmud Humayun  said the use of technology in financial institutions needs to be further  enhanced and these services should be taken up to the village level for the  overall development of the nation. 

"At present, besides banks, non-bank financial institutions (NBFI) are also  playing a vital role in the development of small and medium entrepreneurs.  NBFIs are coming up with small and medium-sized enterprises (SME) loans up to  35 per cent on their loan portfolio, which is very encouraging," he said. 

Industries minister made the remarks while speaking as the chief guest at the  inaugural function of 'BLFCA Fair 2022' on non-bank financial institutions  held at a city hotel here on Wedbesday, said a press release. Daily Bonik Barta and Bangladesh Leasing and Finance Companies Association  (BLFCA) jointly organised the fair. 

Humayun said NBFIs are facing various challenges in Bangladesh as they are  working with limited capital. But, there are a lot of opportunities in this  sector and for this, the sector has to be brought under discipline.

Bangladesh Bank has taken various initiatives in this regard, he added. 

Among others, Chairman of BLFCA Mominul Islam, Editor of Daily Bonik Barta  Dewan Hanif Mahmud and high officials of BLFCA and Bonik Barta were also  present at the fair, added the press release.