Economic Reporter :
Bangladesh Bank Governor Fazle Kabir on Sunday said the central bank has taken up reform programmes for the country’s banks and financial institutions to ensure good governance at all levels.
“The central bank has taken up such reform programmes so that it can strengthen rick management along with ensuring required services to the clients,” the governor said while speaking at the opening session of a two-day international conference for bankers and academics.
Bangladesh Institute of Bank Management (BIBM) and Australian Academy of Business and Social Sciences jointly organized the conference in association with Journal of Development Areas, Tennessee State University, USA.
Former governor of Bangladesh Bank Dr Mohammed Farashuddin presented the keynote paper. Director General of BIBM Dr Taufic Ahmed Chowdhury and Dr Stephen Boyle of University of South Australia and Prof Dr Prashanta Kumar Banerjee of BIBM spoke at the session.
BB governor in his speech said demands of clients in banking sector are changing with a rise in using technology and passage of time and to meet these demands, changes have been brought in the services of banks. At the same time, use of technology in banking sector has been increased, he added.
He said the banking sector has been making significant contribution to achieving higher growth and inclusive development despite having some problems in the sector. “The programmes taken by the central bank in this respect has been acclaimed worldwide,” he added.
Dr Mohammed Farashuddinin his keynote paper said Bangladesh has an expanding banking sector and despite some problems like a growing default culture, inadequate accountability system, non-optimal transparency, it has served the economy rather well.
“If and when the appropriate reforms including a boldly implemented regulatory system is put in place, the greater use of technology will add definite strength to the productivity and growth of Bangladesh economy,” he observed.
Over 64 research papers are expected to be placed in the conference which will be concluded today.
