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DHAKA, Dec 29, 2024 (BSS) - Bangladesh Bank (BB) Governor Dr Ahsan H Mansur today said Bangladesh has made significant progress in the development of its financial sector.

"The banking sector of Bangladesh has progressed a lot. There is no doubt about it. On the other hand, it must also be said that despite our achievements, there are many failures in terms of how far the banking sector could have progressed or how far the entire financial sector could have progressed," he said. 

The central bank governor made this remarks while inaugurating the Golden Jubilee Celebration of Bangladesh Institute of Bank Management (BIBM) in the city. 

He, however, said no single group or authority is responsible for the failures of this sector. "We all might have worked on it (this financial sector) differently from our respective positions. We all might have worked with integrity. Maybe there was a deviation or not. We have to do this self-analysis."

Dr Mansur said the banks are not so much interested in financing some non-conventional sectors like SMEs and new sectors like climate financing and green financing. "Money has been given for many sectors but that money is not being transferred. Those who are running banks and financial institutions are not very enthusiastic about these sectors or are not willing to take risks. We need to change our mindset here." 

He hoped that the financial institutions will play a stronger role in financing the non-conventional and new sectors. 

Dr Mansur, also the BIBM Governing Board Chairman, asked the BIBM to work on the banking sector's new challenges like climate financing, green financing, developments in the financial sectors and technological innovations. 

Citing that such institutions are very necessary for the development of the banking sector, he said BIBM has been able to play an important role in building human resources in this sector. "Developing the financial sector is not possible without such training institutes," he added. 

The Bangladesh Bank governor asked the BIBM to pay attention to attract foreign students and thus spread its name and fame to the international arena. 

BIBM Director General Dr Md Akhtaruzzaman chaired the inaugural session, while Association of Bankers Bangladesh (ABB) Vice Chairman and City Bank Managing Director SM Mashrur Arefin, Chair of the Organising Committee Dr Shah Md Ahsan Habib and its member secretary Dr Mohammad Tazul Islam spoke on the occasion. 

BIBM is the national training, research, consultancy and education institute on banking and finance collectively owned by the banking sector of the country. 

Over the years, the institute has expanded its focus and now offers specialised training programmes for mid- and senior-level executives in the banking sector, further strengthening the leadership and management capabilities within the industry.