2024-09-15 15:53:28
Bangladesh Bank has received the ‘Global Youth Financial Inclusion Award’ of 2024 for playing a role in increasing the financial inclusion of the country’s youth.
The Alliance for Financial Inclusion (AFI), an international alliance of policymakers and regulators on financial inclusion, presents the prestigious ‘Global Youth Financial Inclusion Award’ for the financial sector. The honor was given to Bangladesh Bank at the meeting of AFI Global Policy Forum held recently in the Central American country of El Salvador.
On Sunday (September 15), the central bank informed this information in a press release.
It is said in the notification that several activities of Bangladesh Bank have been considered to increase the financial inclusion of the youth society of the country in awarding the award.
Bangladesh Bank has developed financial literacy guidelines for banks and financial institutions. Besides, according to these guidelines, banks and financial institutions have conducted various activities to ensure the coverage of certain categories of students and youth and to ensure their financial literacy.
For example, Bangladesh Bank has formed a start-up fund to provide loans to entrepreneurs aged 21 to 45 years of the country. A separate website (bb.org.bd) has been launched to promote financial literacy and ensure consumer interest. Apart from this, an initiative has been taken to add a chapter on financial literacy in the national curriculum.
On the other hand, 4.3 lakh school bank accounts have been opened through various banks through conducting nationwide school banking activities. Bangladesh Bank has taken initiatives to reduce gender inequality in the financial sector by ensuring the participation of female students in school banking. Currently, the rate of female students with school banking accounts is 48.9 percent.
Apart from this, loans are being given under the refinancing scheme to school banking account holders for training, skill based occupations and business management.
In a press release, Bangladesh Bank said, AFI is an international organization of policy-making regulatory institutions 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 institution. Annually the Global Policy Forum organized by AFI presents awards in various categories from among its members for outstanding contribution to financial inclusion.
This year, the Global Policy Forum was attended by more than 700 delegates, including central bank governors, policy makers and financial inclusion stakeholders.