Robust internet, digital wallets key to financial inclusion: Khosru

Finance Minister Amir Khosru Mahmud Chowdhury has said robust internet connectivity, a “one citizen, one wallet” system and digitalisation of the rural economy are essential to bringing marginalised people into the economic mainstream and ensuring sustainable development.
He said effective use of digital infrastructure and artificial intelligence (AI) could help accelerate inclusive and sustainable economic growth. The minister made the remarks on Saturday while speaking as the chief guest at a group dialogue titled “Financial Inclusion 2.0”, organised by the Power and Participation Research Centre (PPRC).
He said digital inclusion and financial inclusion were complementary, while uninterrupted, high-speed internet connectivity was essential for the growth of the digital economy.
“Without strong internet infrastructure, the full benefits of digital finance cannot be achieved,” he said.
The government is also taking steps to identify marginalised producers and artisans under the “One Village, One Product” programme and bring them under digital payment and banking services, the minister said.

He said affordable smartphones were now being produced in Bangladesh, with devices expected to be available for around Tk4,000-5,000, making technology more accessible to farmers and ordinary people.
Farmers can use technology to access information on weather, fertiliser requirements and market prices, he said.
The minister also highlighted the use of banking channels for Family Cards, Farmer Cards and allowances for imams and priests as examples of how financial inclusion can be achieved through digital systems.
However, he stressed the need to ensure cybersecurity and appropriate policy “guardrails” so technological innovation does not stall amid rapid digital transformation.
“Technological change must be accompanied by necessary cybersecurity and policy safeguards,” he said.
The programme was moderated by economist Dr Hossain Zillur Rahman and attended by heads and senior representatives of banks, insurance companies and other financial institutions.