Bangladesh emerging as reliable investment hub: BB Governor
NN Online:
Bangladesh is steadily becoming a trusted destination for both local and foreign investors, said Bangladesh Bank Governor Dr Ahsan H Mansur on Monday.
“The belief that foreign investors will simply take our money and leave is a misconception,” he stated while speaking as the chief guest at the launch of Google Pay services, held at a hotel in the capital.
City Bank introduced the digital payment service in partnership with Google, Mastercard, and Visa. Under this initiative, customers can now use their debit and credit cards via Google Wallet to make secure, contactless payments at any NFC-enabled point-of-sale (POS) terminal, both in Bangladesh and abroad.
Dr Mansur noted that Google Pay will not only offer fast and encrypted transactions but also reduce the need for carrying physical cards. “From airline tickets to daily purchases, everything can be handled using a smartphone,” he said.
Highlighting the broader significance of the initiative, the central bank governor said the introduction of such digital services is part of the country’s commitment to financial inclusion.
He also stressed the need for technological advancement and efficient management practices. Referring to international partnerships, he said, “If foreign companies operate the Chattogram Port for 10 or 20 years and later hand it over to us, we would gain valuable experience and be capable of managing ports abroad.”
Dr Mansur underscored that efforts are underway to bring every citizen under the formal banking network. He mentioned that banks have been instructed to work closely with schools to promote financial literacy from an early age.
Touching on the health of the financial sector, the governor said that regulatory reforms have been introduced to bring down non-performing loans and align the banking system with global standards. He assured that steps are being taken to restore discipline and prevent a repeat of past irregularities.
“Controlling inflation is one of our top priorities,” Dr Mansur said, adding that progress has been made and bringing the rate below five percent is within reach.
He further assured depositors of complete protection and emphasized Bangladesh Bank’s commitment to maintaining overall financial stability.
Chargé d’affaires of the US Embassy in Dhaka, Tracey Ann Jacobson, City Bank Vice Chairman Hossain Khaled, and the bank’s Managing Director and CEO Mashrur Arefin also spoke at the event.
