Smartphones to be available for Tk 4-5 thousand in the country: Finance Minister

Finance Minister Amir Khosru Mahmud Chowdhury has said production of low-cost smartphones has started in the country. He said the opportunity to buy smartphones within Tk 4 to 5 thousand is now being created. As a result, the use of technology will become easier for common people including farmers.

He said this while speaking as the chief guest at a group dialogue titled ‘Financial Inclusion 2.0’ organized by private research organization Power and Participation Research Centre (PPRC) at Hotel InterContinental on Saturday. This information has been given in a press release of the Ministry of Finance.

The Finance Minister said if affordable smartphones become easily available, farmers and common people will be able to get various necessary information quickly. They will be able to use technology for works like knowing weather forecasts, the required amount of fertiliser for land and the market prices of agricultural products.

He said initiatives have been taken to provide allowances to imams and priests through the banking system alongside family cards and farmer cards. Due to these systems, it will become easier to bring people of the marginal communities under the formal financial system.

Amir Khosru emphasized building strong internet infrastructure to increase the economic participation of marginal communities. According to him, alongside introducing the ‘one citizen one wallet’ system, the rural economy will have to be connected with the digital system. If digital infrastructure is strengthened and the effective use of artificial intelligence is ensured, the path to sustainable development will become easier.

The Finance Minister said digital inclusion and financial inclusion are closely related to each other. Uninterrupted and high-speed internet connection is essential for the development of the digital economy. Without the necessary infrastructure, it is not possible to reach the full benefits of digital financial services to the people.

He further informed that initiatives are being taken to identify producers and artisans of remote areas under the ‘One Village, One Product’ programme and connect them with the banking and digital transaction system. At the same time, he also emphasized ensuring cyber security and necessary policy protection to keep innovation ongoing in keeping with the rapid changes in technology.

Chief executives of various banks, insurance and financial institutions were present at the event conducted by Executive Chairman of PPRC Dr Hossain Zillur Rahman.