Dhaka, Bangladesh (BBN)- Dr. Atiur Rahman, Governor of Bangladesh Bank (BB) has urged fellow governors and financial regulators to focus on financial inclusion including micro-insurance, micro-finance and socially responsible financing (SRF) including CSR for not only improving the condition of the disadvantaged but also for wider objective of achieving financial stability.
“Higher access to finance also enhances social and economic stability,” the BB governor said while speaking at the 24th meeting of Council and 12th General Assembly of Islamic Financial Services Board (IFSB) in Brunei Darussalam on Thursday.
IDB President, Governor of Sudan and Chairman of Financial Supervision Authority of Indonesia supported Dr. Rahman's views on micro-finance including Islamic micro-finance, a BB press statement said.
Dr. Zeti Akhtar Aziz, Governor of Bank Negara Malaysia, however, requested all to remain focused on the regulatory aspects of micro-finance as IFSB's mandate is primarily to play the role of standard setting on regulations and supervisions of Islamic finance.
Dr. Rahman also asked IFSB to do more research and advocacy on capacity building of different central banks on their regulatory and supervisory role related to Islamic financing.
In addition to attending the Council meeting Governor Dr. Rahman also attended the AGM and a public lecture on financial stability. Commenting on the public lecture given by Dr. Mehmet Asutay, Dr. Rahman appreciated the wider perspective given by the speaker on moral economy and value-loaded financing for reaching the unbanked and unserved.
BBN/SSR/AD-27Mar14-1:33 pm (BST)
