BB’s second strategic plan targets inclusive growth

The Bangladesh Bank (BB) launched Saturday its second Strategic Plan (2015-2019) that, it expects, would contribute to the task of achieving sustainable and inclusive growth and maintaining financial stability.
BB governor Dr. Atiur Rahman formally unveiled the five-year plan at the bank's training academy at Mirpur.
The plan, he said, will help the bank uphold its mandate as a central bank of the country and achieve Vision 2021 of the government as well.
The Strategic Plan is crafted with 14 strategic goals and 395 key performance indicators, said the governor adding it will lead to emergence of a 'forward-looking, proactive and responsive' central bank and give it an international standard. The goals will be reached through a total of 105 objectives, which would essentially be attained by 320 action plans in the medium and long run.
"We want to make the BB the bank of all central banks," said the governor adding that it has already become the role model in financial inclusion and sustainable financing in the international arena within a span of only five years.
The Bangladesh Bank Governor asked all the banks to prepare their own strategic plans to make their services more proactive and responsive and thus support socially responsible and environment friendly sustainable development initiatives.
The central bank formulated its first five-year strategic plan in 2010 to support sustainable economic growth reinforcing a dynamic, efficient and resilient financial system combined with large-scale digitisation process. "Amid the growing complexities of financial industry in the last couple of years, the Bangladesh economy was confronted by a number of global and economic challenges.  Nevertheless, significant achievements were made in financial sector as a result of commendable efforts by the BB," said the governor.
Dr. Rahman pointed out that the BB was highly praised for its role in promoting mobile financial services, and other inclusive financial activities such as school banking, women empowerment and promotion of agriculture and SMEs.
"Bangladesh enjoys the position of having the world's second largest mobile banking services," said Dr Atiur adding: "We will soon occupy the first position."
"We are trying to create a new trend in the banking sector of the country with a combination of new concepts, technology and human participation," he added.
Dwelling on the country' macro-economic stability, the BB governor said the country maintains a constant 6.0 plus GDP growth but inflation is still low because of prudent monetary policy. Remittance is one of the biggest contributors to the country's growth, he said, adding that the forex reserve also crossed US$ 26.0 billion that can cover the country's 7 and half months' import bill.
Replying to critics, the governor said the government is constructing the Padma Bridge from its own resources. "The Bangladesh Bank will always be there with the government in implementing any infrastructure project if necessary. The BB can easily spend US$ 6-7 billion from its reserve if it serves the interest of people."  
Held at the auditorium of the Bangladesh Bank Training Academy (BBTA), the meeting was also addressed, among others, by Bangladesh Bank (BB) Deputy Governors Abu Hena Moh. Razee Hasan and SK Sur Chowdhury and Executive Director Md. Ahsan Ullah. Presided over by Deputy Governor Nazneen Sultana, the programme was moderated by management consultant Jahangir Kabir.
The programme was attended by a large number of Managing Directors (MDs) and Chief Executive Officers (CEOs) of various banks and financial institutions as well as academics and researchers.
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