Industry

Bangladesh well on track to adopt fintech for sustainable growth: Salim

Bangladesh is well on track to adopt financial technology (fintech) to ensure its sustainable growth, said Professor Md Salim Uddin, chairman of the executive committee of Islami Bank Bangladesh Limited (IBBL).

He was addressing an executive development programme organised by Islami Bank Training and Research Academy (IBTRA) Saturday online.

Mohammed Monirul Moula, managing director and chief executive officer of IBBL, also addressed the programme.

Professor Salim underscored that infrastructure readiness – access to electricity, mobile network coverage, digital services, and e-governance – is well on track.

The fintech ecosystem is growing and expected to get bigger in the coming years, he added.

Bursting with opportunities for cutting-edge and innovative financial services, the fintech industry in Bangladesh enjoys an unsaturated market, according to Light Castle Partners.

However, despite the increasing adoption of technology, lack of interoperability remains a major concern that obstructs further growth of digital financial services in Bangladesh, Salim said.

Source: United News of Bangladesh