Bangladesh Bank received the award for its role in financing the youth
September 16, 20242 Mins Read

Jumbangla Desk: Bangladesh Bank has received the Alliance for Financial Inclusion (AFI) Global Financial Inclusion Award-2024. The award was given to Bangladesh Bank at a function of AFI's Global Policy Forum (GPF) held in El Salvador recently.

The central bank has received the award for steps taken to increase financial inclusion among the country's youth.

Bangladesh Bank spokesperson Husne Ara said this information on Sunday.

Actions in which Bangladesh Bank has been given this award are: Financial Literacy Guidelines for Banks and Financial Institutions to cover specific categories of students and youth and undertake various activities of banks and financial institutions to provide them with financial literacy; Setting up start-up funds to provide loans to entrepreneurs aged 21-45; Launching website for providing financial literacy and ensuring consumer interest; Taking steps to include a chapter on financial literacy in the National Curriculum; Launching of 4.3 lakh school bank accounts by the bank through conducting nationwide school banking activities; Reducing gender disparity in the financial sector by ensuring participation of female students in school banking (48.90 percent of account holders are women) and providing loans under refinancing schemes to school banking account holders for training, skill-based occupations and business management.

AFI is an international association of policy-making regulatory bodies on global financial inclusion. Currently, 90 organizations including the central banks of 84 countries, ministries of finance and other regulatory agencies of the financial sector are members of this organization. Since 2009, Bangladesh Bank has been participating in various activities related to financial inclusion as a key member of this organization.

Every year AFI organizes GFI to award various categories among its members for outstanding contribution to financial inclusion. This year's event was attended by more than 700 delegates, including central bank governors, policy makers and financial inclusion stakeholders.