GOOD MORNING좋은 아침입니다

09.10 am. Thursday, 12 May, 2016

Today’s Presentation Topic

Financial Inclusion & Literacy

Presented ByAthoi Rahman

Principal Officer, Credit Administration Department

Financial literacy

Financial literacy is the ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it (turn it into more) and how that person donates it to help others.

Financial Inclusion and Literacy

Access to structured financial services is vital for facilitating constant economic growth and thus sustainable development of an economy. 

Bangladesh, being the fastest growing developing economy, is now vigorously trying to achieve a strong Inclusive Financial system to reduce economic vulnerabilities of its population. Inclusive financial system not only helps the underprivileged to build asset and give access to borrowing, it also helps the government to monitor any financial system loss.

Bangladesh Bank, as a regulating body has always motivated and directed financial institutions towards Inclusive Banking policies. Number of banks in the economy is not the only indicator of financial inclusion, rather how well the economic actors can access to the range of diversified financial services at a reasonable cost defines economic inclusion.

Bangladesh Bank has dedicated its policies to encourage innovation and promote diverse product to reach different segment of population. In recent times it has focused extensively on Financial Literacy, to increase participation in formal banking and break psychological barrier of participation. School Banking is the building block of the Financial Literacy plan.

BB launches financial literacy programme

Bangladesh Bank (BB) has launched ‘Financial Literacy’ programme to educate people about financial activities, specially the basic banking services.

“Financial inclusion needs to be intensified for establishing economic stability and expansion of financial literacy can play a significant role in this regard,” said the Governor of Bangladesh Bank while inaugurating.

According to the Green Banking and CSR Department GBCSRD Circular No-03 of Dated April 09, 2015 Clause No: 3

** For intense monitoring of Financial Inclusion and Financial Literacy activities, a separate cell named “Financial Inclusion and Financial Literacy” should be formed at the head office of every Bank.

Discussion main points and the decisions taken in the meeting are as follows:

All schedule banks are advised vide GBCSRD Circular 03 of dated 09 April 2015 to form a “Financial Inclusion and Financial Literacy” Cell at their Head/Country Office. After formation of the said Financial Inclusion and Financial Literacy Cell, A respective officer should be assigned for “Focal Point”. Need to submit the name of the Focal Point to GBCSRD by 31/05/2015 according to the Bangladesh Bank provided attached format. Primarily the Financial Literacy campaign is focused on two(02) groups:

School level upto 18 years old group and Vulnerable adults of urban and rural people.

Green Banking & CSR DepartmentBANGLADESH BANKHead Office, Dhaka.

Key notes of the Financial Literacy Meeting held At Bangladesh Bank with all scheduled banks.

Every scheduled bank is advised to develop materials for Financial Education/Literacy. Bangladesh Bank also instructed to create a website link containing Financial Education and Literacy. Banks have to publish financial literacy material pictures, video or presentations through billboards and any other publishing media used by the bank. A committee lead by the General Manager of GBCSRD Mr. Monoj Kumar Bisswash is formed to develop the Guideline of Financial Literacy.

Green Banking & CSR DepartmentBANGLADESH BANKHead Office, Dhaka.

Key notes of the Financial Literacy Meeting held At Bangladesh Bank with all scheduled banks.

(Continued.)

A sample of Financial Literacy Campaign advised by Bangladesh Bank

Importance of Financial Literacy GloballyImportance of Financial Literacy Globally

Financial Literacy initiatives by Bangladesh Bank:Financial Literacy initiatives by Bangladesh Bank:

Home Screen of Bangladesh Bank Financial Literacy:Home Screen of Bangladesh Bank Financial Literacy:

Maybe you don’t have any idea that Bangladesh Bank Financial Maybe you don’t have any idea that Bangladesh Bank Financial Literacy site have some interesting games as below:Literacy site have some interesting games as below:

An Audio-Visual for Financial Literacy by An Audio-Visual for Financial Literacy by Bangladesh Bank & USAID.Bangladesh Bank & USAID.

THAT’S ALL so far.

Athoi RahmanPrincipal OfficerCredit Administration Department