Alliance for Financial Inclusion (AFI) elects Bangladesh Bank as its SME Finance Working group Co-chair.

DHAKA, May 28 (NsNewsWire) — Alliance for financial Inclusion (AFI) the global network of financial regulators has chosen Bangladesh Bank as co-chair in one of its major policy area- the SME Finance working group on 27 May 2015. This is in recognition of the breakthrough policy intervention by Bangladesh Bank to improve access to finance to the MSMEs and Women entrepreneurs as well as its contribution and leadership towards knowledge exchange and mutual learning in the area of MSME and women entrepreneurs lending.

The AFI network members in the SME Finance working Group elected Bangladesh Bank as its co-chair for the next two years. Bangladesh Bank will take the position of Chair of the working group in 2016. Bangladesh Bank was chosen by the network members over India, Kenya, Peru and Philippines, the four other candidates.

Bangladesh bank Representative in the SME Finance working group Mr. Md. Ashraful Alam, Deputy General Manager, SME and Special Programmes Department welcomed this move by the AFI and its members. Mr. Ashraful Alam in his speech outlined the initiatives taken by the Governor Dr. Atiur Rahman to improve the access to finance for MSMEs and women entrepreneurs. Substantial positive changes have taken place after Dr. Atiur Rahman took the helm of Bangladesh Bank, in the areas of inclusive growth and financial inclusion, Mr. Alam added. Mr. Ashraful Alam requested the network members to further engage in mutual learning and knowledge exchange so that large number of unbanked MSMEs can be brought into the formal financial services that will help boost national, regional and international inclusive growth. He called for concerted efforts by AFI to work for further improvement in financial inclusion around the globe.