ZCZC
BSS-33
HUMAYUN-BANK-FINTECH
Humayun for collaboration between banks, fintechs to drive growth
DHAKA, Sept 15, 2019 (BSS) – Industries Minister Nurul Majid Mahmood Humayun today underscored the need for ensuring collaboration between banks and fintechs to drive growth.
“The government with its ‘Digital Bangladesh Vision’ has created an enabling regulatory environment that encourages banks and fintechs to work together that is ultimately leading a growing number of fintechs in Bangladesh,” he said.
The minister was speaking as the chief guest at the Bankers Dialogue on “Bank-fintech Collaboration: A win-win situation” at the National Press Club in the city.
Humayun said sophisticated technology has already come to Bangladesh and a number of manufacturers are using nanotechnology in their factories and the government is preparing a policy considering the future needs.
“The revolution has already put a big impact on our financial sector driven by booming fintech companies like bKash, Sure Cash, Nagad and other MFS service providers,” he added.
He said now people are moving towards a cashless society as more brick-and-mortar businesses become cashless. “Millions of young consumers who represent the largest demographic set of consumers in Bangladesh, including students and struggling workers, are adopting technology innovations with easy-to-use mobile banking and credit apps and financial education tools to help those customers gain better spending habits,” he added.
Humayun said the National ICT Policy has been formulated to implement eight strategic issues, including digital government, digital security, skill development and employment generation, and strengthening domestic capacity to cope with the emerging technologies.
“We believe with the highest possible use of digital technologies, Bangladesh will be able to achieve its two major goals – becoming a middle-income country by the year 2021 and a developed nation by the year 2041,” he added.
BSS/KUC/KU/1830 HRS