SMEs play strategic role in keeping economic growth consistent: BB Governor
09 November 2015, Nirapad News: Bangladesh Bank (BB) governor Dr. Atiur Rahman said the hard working people including small and medium entrepreneurs (SME) are playing a strategic role in keeping the economic growth consistent.
“The Bangladesh story is amazing where hard working people including small and medium entrepreneurs are playing a strategic role for which the economy remains stable,” said while addressing a conference at University of California in the USA on November 7.
The conference was titled “Bangladesh Development Initiative (BDI) Conference 2015”.
According to message received in Dhaka, the governor said the central bank has been supporting rapid broad based inclusive economic growth through its multi-pronged financial inclusion initiatives.
He noted that central bank’s engagement in inclusiveness and sustainability is direct and explicitly pronounced in its monetary policy statements.
Dr. Atiur said a socially responsible financing ethos has sensitised the financial sector in reaching out to the underserved and excluded population segments with the financial services.
“Our thrusts are on output initiatives in agriculture supporting food security and price stability; SME financing, employment and income generation; green financing, environmental sustainability; and digital inclusion,” said the governor.
He emphasized on proactive role of the government with the leading role of private sector to pace up inclusive socioeconomic growth to attain higher middle income country status by 2030 and advanced economy status by the decade of forties.
In another panel discussion on monetary policy, the central bank chief said the BB’s monetary policy is both participatory and inclusive.
“This is leading to monetary policy touching the real economy and improving the living standards of the unserved, unbanked and underserved segments of population.”
He also said funds are now flowing to smaller borrowers and yet risks are managed prudently.
“We are giving credit to female entrepreneurs to embolden women’s empowerment so that Bangladesh becomes a balanced country with the participation of female labour. Women must get a bigger strength in decision making of their lives and livelihood,” he said.
Dr. Biru Paksha Paul, Chief Economist of BB presented the keynote speech at the discussion.