Atiur suggests reshaping financial system for sustainability
BSS, Dhaka :
Bangladesh Bank (BB) Governor Dr Atiur Rahman suggested reshaping the financial system with long-term visions for sustainable growth and development.
The governor, while speaking at the third advisory council meeting of the United Nations Environment Programme (UNEP) in Zurich, Switzerland on Tuesday, said that the major objective of the financial system should be towards achieving long-term and sustainable growth and development.
At the meeting, the governor also advised building up and strengthening of local, regional and global mutual learning networks of financial institutions those are promoting and supporting green financing, according to a BB press release issued here Wednesday.
Sharing BB’s experience in reshaping Bangladesh’s banking sector towards achieving inclusive and sustainable growth and development, he said transforming the short-term business cycle focused monetary and financial policy approaches to longer term needs could be one way of addressing this issue.
He said BB began with setting motivations right in the financial sector, followed by appropriate enablement and policy support within its mandated charter of developmental role.
The governor said sustained financial sector wide motivation campaign was a useful tool in Bangladesh in establishing a socially responsible institutional ethos of sustainable financing.
He, however, pointed that the motivation effort needs to proceed hand in hand alongside other advocacy and leadership initiatives in embedding sustainable financing as a core element of financial markets development.
Dr Rahman also recommended strengthening of mutual learning networks like the Alliance for Financial Inclusion (AFI) as those are useful in promoting inclusive financing while green financing promotion requires similar initiative, towards heightening awareness and hastening capacity building.
The meeting was also attended by the advisory council members including Bruno Oberle, the State Secretary of Environment for Switzerland, Maria Kiwanuka, Senior Presidential Advisor on Finance to the President of Uganda and Achim Steiner, Executive Director of the UNEP.
Bangladesh Bank (BB) Governor Dr Atiur Rahman suggested reshaping the financial system with long-term visions for sustainable growth and development.
The governor, while speaking at the third advisory council meeting of the United Nations Environment Programme (UNEP) in Zurich, Switzerland on Tuesday, said that the major objective of the financial system should be towards achieving long-term and sustainable growth and development.
At the meeting, the governor also advised building up and strengthening of local, regional and global mutual learning networks of financial institutions those are promoting and supporting green financing, according to a BB press release issued here Wednesday.
Sharing BB’s experience in reshaping Bangladesh’s banking sector towards achieving inclusive and sustainable growth and development, he said transforming the short-term business cycle focused monetary and financial policy approaches to longer term needs could be one way of addressing this issue.
He said BB began with setting motivations right in the financial sector, followed by appropriate enablement and policy support within its mandated charter of developmental role.
The governor said sustained financial sector wide motivation campaign was a useful tool in Bangladesh in establishing a socially responsible institutional ethos of sustainable financing.
He, however, pointed that the motivation effort needs to proceed hand in hand alongside other advocacy and leadership initiatives in embedding sustainable financing as a core element of financial markets development.
Dr Rahman also recommended strengthening of mutual learning networks like the Alliance for Financial Inclusion (AFI) as those are useful in promoting inclusive financing while green financing promotion requires similar initiative, towards heightening awareness and hastening capacity building.
The meeting was also attended by the advisory council members including Bruno Oberle, the State Secretary of Environment for Switzerland, Maria Kiwanuka, Senior Presidential Advisor on Finance to the President of Uganda and Achim Steiner, Executive Director of the UNEP.