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Roundtable Discussion on ‘FinTech and RegTech: Possible Impact on Banking System in Bangladesh’ held at BIBM

Written by Manager

Tuesday 24th December 2019

Dhaka, 23 December, 2019:
A half day long roundtable discussion was held at the Bangladesh Institute of Bank Management (BIBM) on 23 December, 2019, in its auditorium. Dr. Prashanta Kumar Banerjee, Professor & Director (RD&C) of BIBM delivered welcome address. Dr. Md. Akhtaruzzaman, Director General of BIBM chaired the Program.
A paper titled ‘FinTech and RegTech: Possible Impact on Banking System in Bangladesh’ was jointly presented in the roundtable discussion by Md. Shihab Uddin Khan, Associate Professor of BIBM and Md. Foysal Hasan, Lecturer of BIBM. Other members of the research team  are Mohammed Ishaque Miah, Systems Manager (General Manager) of Bangladesh Bank; Md. Mizanur Rahman, Executive Vice President of South Bangla Agricultural and Commerce Bank Ltd.
A good number of participants including senior bank executives, academicians, media representatives, faculty members of BIBM took part in the roundtable discussion.
S.M. Moniruzzaman,  Chairman of BIBM Executive Committee and Deputy Governor of Bangladesh Bank was present in the roundtable discussion as the chief guest. Barkat-e-Khuda, Dr.  Muzzafer Ahmed Chair Professor of BIBM & Former  Professor of Dhaka University; Helal Ahmed Chowdhury, Supernumerary Professor of BIBM & Former Managing Director of  Pubali Bank Limited; Mominul Islam, Managing Director & CEO of IPDC Finance Limited; A.K.M. Abdullah, Senior Financial Sector Specialist, South Asia Finance and Private Sector, The World Bank spoke among others at the event.

According to the study, Banks need to change their mind set to quick adoption of financial technology to cope up with the upcoming challenges channeled from FinTech firms especially in the area of retail banking or financial services. Banks should develop awareness and reduce perception gap of banking management in technology adaptability issues.

S.M. Moniruzzaman,  Chairman of BIBM Executive Committee and Deputy Governor of Bangladesh Bank said, Central Bank is continuously monitoring the activities of financial institutions of Bangladesh and providing appropriate and timely guidelines about modern technology. In recent times when bitcoin issue was booming, BB has taken necessary actions to stop that and raised awareness among different stakeholders. BB has also taken various initiatives for the smooth operation of e-banking in Bangladesh. BB has developed BACH, BEFTN, NPSB, RTGS infrastructure for smooth payment systems. BB is closely monitoring the activities of growing FinTech firms and giving appropriate directions to them. 
In the concluding speech, Barkat-e-Khuda, Dr.  Muzzafer Ahmed Chair Professor of BIBM & Former  Professor of Dhaka University said, if banks spend on IT, it will bring income as well as  it will reduce cost.

Members of the Institute

  • Bangladesh Bank
  • Sonali Bank Limited
  • Janata Bank Limited
  • Agrani Bank Limited
  • Rupali Bank Limited
  • Pubali Bank Limited
  • Uttara Bank Limited
  • Bangladesh Krishi Bank
  • Bangladesh Development Bank Limited
  • AB Bank Limited
  • National Bank Limited
  • Eastern Bank Limited
  • United Commercial Bank Limited
  • Islami Bank Bangladesh Limited
  • IFIC Bank Limited
  • Rajshahi Krishi Unnayan Bank
  • Standard Chartered Bank
  • Dutch-Bangla Bank Limited
  • Mercantile Bank Limited
  • ONE Bank Limited
  • Al-Arafah Islami Bank Limited
  • National Credit and Commerce Bank Limited
  • Trust Bank Limited
  • Southeast Bank Limited
  • Social Islami Bank Limited
  • The Hongkong and Shanghai Banking Corporation Limited
  • Standard Bank Limited
  • Export Import Bank of Bangladesh Limited
  • Mutual Trust Bank Limited
  • BASIC Bank Limited
  • Jamuna Bank Limited
  • Bank Asia Limited
  • First Security Islami Bank Limited
  • The City Bank Limited
  • Prime Bank Limited
  • Dhaka Bank Limited
  • Investment Corporation of Bangladesh
  • Bangladesh Commerce Bank Limited
  • BRAC Bank Limited
  • The Premier Bank Limited
  • Shahjalal Islami Bank Limited
  • State Bank of India
  • Habib Bank Limited
  • Commercial Bank of Ceylon PLC
  • Bank Alfalah Limited
  • Citibank, N.A.
  • National Bank of Pakistan
  • South Bangla Agriculture and Commerce  Bank Limited
  • Meghna Bank Limited
  • Woori Bank
  • NRB Commercial Bank Limited
  • Union Bank Limited
  • The Farmers Bank Limited
  • NRB Bank Limited
  • Shimanto Bank Limited
  • Bangladesh House Building Finance Corporation
  • Non Member NBFI