RTGS to be introduced at all ports and airports soon: Governor

Bangladesh Bank Governor Dr Ahsan H Mansur has said that the Real Time Gross Settlement, RTGS, system will be introduced very soon at all seaports and airports across the country to make import and export operations easier and faster. He also said initiatives have been taken to develop Cox’s Bazar as the country’s first cashless district.

The governor made the remarks on Saturday afternoon at a views-exchange meeting titled “Economic potential of the Chattogram region and the role of the central bank at the regional level”, held at a hotel in Chattogram city. Representatives from business associations, chambers, port and customs offices, teachers, economists, the central bank and scheduled banks, as well as various professional groups from the Chattogram division, attended the meeting.

Dr Ahsan H Mansur said that to implement a cashless Bangladesh, smartphones priced between Tk 6,000 and Tk 7,000 must be placed in the hands of every citizen. He also stressed the need to expand agent banking by appointing women agents in marginal and remote areas.

Highlighting the geopolitical and economic importance of the Chattogram region, the governor said regional and global connectivity must be enhanced in the manner of Singapore, Dubai and Hong Kong. He described Chattogram as the lifeline of Bangladesh’s economy, noting that the region, comprising sea, hills and plains, is the hub of the country’s main seaport, export processing zones, heavy industries, energy infrastructure and a major share of international trade. However, he said a strong role of the financial sector is essential to fully realise this potential.

He added that the central bank’s responsibility is to ensure adequate and low-cost credit flow to productive sectors. Unused funds under Bangladesh Bank’s refinancing schemes should be distributed among suitable clients in the Chattogram region. To enhance financial inclusion, he urged every bank to provide financial literacy training at least in one educational institution and to promote digital and cashless transactions in schools, colleges and universities.

The meeting was chaired by Md Mokbul Hossain, executive director of Bangladesh Bank’s Chattogram office. Chattogram University of Engineering and Technology Vice-Chancellor Dr Mahmud Abdul Matin Bhuiyan and Bangladesh Bank head office Executive Director Md Khosru Parvez attended as guests of honour.

The meeting began with a welcome address by Mohammad Ashiqur Rahman, director of the administration department of Bangladesh Bank, Chattogram office. Additional Director Mohammad Abdullah Al Amin presented a concept paper on the economic potential of the Chattogram region and the central bank’s role at the regional level. Representatives of various organisations shared opinions and recommendations on issues and prospects related to the economy, banking, ports, customs, exports, agriculture and industry. The governor provided on-the-spot solutions to some issues and assured policy measures on others in the future.

In his concluding remarks, Md Mokbul Hossain emphasised the inclusion of financial literacy in school and college textbooks.