50% of banking agents will be women, BB to issue circular soon: Governor at TBS roundtable
'My feeling is that agent banking will overtake regular banking. It’s a silent revolution,'
What the BB governor said:
- NID is a national asset, should not be under the election commission
- Reforms following international standards
- Good governance must to continue the reforms
- Want to ensure independence of the central bank within July-August this year
Agent banking is doing very well and 50% of the agents will soon be women, said Bangladesh Bank Governor Ahsan H Mansur today (4 March).
The central bank will issue a circular soon in this regard, he said while speaking at a roundtable, titled "Path to Recovery for the Banking Sector", organised by The Business Standard at the TBS office in the capital this morning.
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"My feeling is that agent banking will overtake regular banking. It's a silent revolution," he said.
Regarding the banking sector, the governor said, "We want to move fast and reshape the financial horizon." Efforts to strengthen the central bank are in full swing and the World Bank is helping find the best practices globally, he said, adding that Chief Adviser Prof Muhammad Yunus is keen on the matter.
"We want to ensure independence of the central bank within July-August this year. We will try to solidate the foundation but all reforms cannot be done by the interim government. Reforms will continue when the next government comes to power," said Ahsan H Mansur in his closing remarks.
"Good governance must be sustained to continue the reforms," he added.
He said, "A five-year plan is a five-year plan, this agenda cannot be finished within a year or a year and a half. We will try to do as much as possible and we will try to follow international standards. And we hope to lay the foundation for a solid banking system.
"Whenever we push IMF and World Bank for international support they ask 'so soon?' and we say our political clock is ticking."
Regarding wealth recovery, Ahsan H Mansur said, "All we can hope for is we get some judgement at Bangladesh and get some attachment of properties in abroad. Repatriation of wealth takes years and years."
However, all hope is not lost hope as countries like Nigeria, Malaysia, Angola have successfully repatriated wealth, he added.
The governor also said, NID is a national asset, it should not be under the election commission only. It started with election commission, but it cannot be in the domain of election commission forever. It has to change.
