Message

I feel extremely privileged for having this opportunity of sharing my words on the 50 th year of our independence. Bangladesh now stands as the 35 th largest economy in the world growing at an average GDP growth of more than 7% for the last 5 years. The banks and financial institutions have certainly been at the cornerstones of this extraordinary development.

I, therefore, am thrilled to extend my earnest congratulations to everyone at Banking Almanac for the successful launch of the 3 rd edition of Banking Almanac: Banks and Financial Institution of Bangladesh that further contributes to strengthening and acknowledging our community and its contribution. Starting with a fragile financial industry post liberation, the number of banks and financial institutions have now reached 60 and 34 respectively exhibiting a lending portfolio of BDT 10,70,000 crores. Even as we continue to persevere and strive at a time unlike any we have seen amidst the pandemic COVID-19, both banks and NBFIs, under the guidance of Bangladesh Bank, have undertaken the mandate of propelling the economy forward. This is further evident from the remarkable stimulus package disbursement, where the banks and NBFIs have even reached the smaller firms by disbursing BDT 116 million, amounting to 58 percent of the total allocation.

As our country keeps nearing its graduation to the status of lower middle-income country, the financial sector, under the guidance of Bangladesh Bank, is moving towards greater financial inclusion, often through avant-garde financial solutions, to catalyze inclusive and faster economic growth. Bangladesh Bank has also made intentional and targeted efforts to uplift the women entrepreneurs of the country by encouraging financing with reduced eligibility requirements and interest rates. Both banks and NBFIs quickly responded to these efforts and further extended their reach by delivering women-targeted financing solutions, as well-evident from the 35.72%female deposit accounts among NBFIs. It is of paramount importance we understand that the vision of attaining the status of a developed country can be materialized only when all the bodies come together to wheel Bangladesh towards economic growth and development. Only by working together, can we work to build a future that our founding father visioned, only then can we manifest the dreams of the Golden Bengal.

MOMINUL ISLAM
Managing Director & CEO
IPDC Finance Limited