Update November 28, 2015

Dhaka 2-36 pm, 21-September, 2020

BIDS chief for taking risks for financial inclusion

Sumel Sarker

BIDS

BIDS chief for taking risks for financial inclusion

28 November 2015, Nirapad News: Director General of Bangladesh Institute of Development Studies (BIDS) KAS Murshid on Friday underscored the need for taking risks by investors to make the move for financial inclusion a success.

“Financial inclusion would not be successful unless risk is taken by the investors,” he said while addressing a seminar on ‘Financial Inclusion: SME and Micro Finance’ at Bangla Academy’s Poet Shamsur
Rahman Auditorium in the city.

The seminar, organised by Bangladesh Bank, was attended, among others, by its deputy governor Abu Hena Razee Hasan, its economic adviser Mahbubur Rahman and general manager Habibur Rahman.

Murshid said it is sometimes found that the small and medium (SME) entrepreneurs are not willing to take the risk for which they do not want to take bank loans.

“Even, before taking any loan, they first think about repayment and for that they finally don’t want to take the loan. But we have to come out of this culture,” he said.

He, however, suggested the authorities concerned introduce crops insurance to reduce the level of risk.

The BIDS chief said it is a must for the borrowers to enter the financial market. “Otherwise, any move for financial inclusion will not be successful.”

He also urged the central bank to think about the real inclusion of the grass roots level people in the financial inclusion to make the whole movement a success.

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