Dhaka, Bangladesh (BBN)- Alliance for financial Inclusion (AFI) the global network of financial regulators has chosen the Bangladesh Bank (BB) as co-chair in one of its major policy area- the SME Finance working group- on Wednesday for the next two years.
“This is in recognition of the breakthrough policy intervention by Bangladesh Bank to improve access to finance to the MSMEs and Women entrepreneurs as well as its contribution and leadership towards knowledge exchange and mutual learning in the area of MSME and women entrepreneurs lending,” the central bank said in a statement on Thursday.
The central bank of Bangladesh will take the position of Chair of the working group in 2016. Bangladesh Bank was chosen by the network members over India, Kenya, Peru and Philippines, the four other candidates, it added.
Bangladesh bank Representative in the SME Finance working group Ashraful Alam, Deputy General Manager, SME and Special Programmes Department welcomed this move by the AFI and its members. Mr. Alam in his speech outlined the initiatives taken by Governor Dr. Atiur Rahman has taken to improve the access to Finance conditions of the MSMEs and Women Entrepreneurs.
Substantial positive changes have taken place after Dr. Atiur Rahman took the helm of Bangladesh Bank, in the areas of inclusive growth and financial inclusion, he added.
He also called for the network members to further engage themselves in mutual learning and knowledge exchange so that large number of unbanked MSMEs can be brought into the formal financial services that will help to boost national, regional and international inclusive growth.