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 BB unveils 5-yr strategic action plan today Inclusive economic growth aimed at

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PostSubject: BB unveils 5-yr strategic action plan today Inclusive economic growth aimed at   Sun May 30, 2010 1:32 am

FE Report

The central bank, for the first time, is going to announce its five-year strategic action plan (SAP) today (Sunday), aiming at achieving inclusive economic growth through jobs creation and poverty alleviation.

Bangladesh Bank (BB) Governor Atiur Rahman will formally announce the plan at a programme in the capital, officials said.

The plan for 2010-2014 will also focus on some major areas like monetary policy, banking system automation, skill development and capacity building through human resource development.

"The plan will be reviewed each year to update it with new measures," a BB senior official told the FE Saturday, adding that the central bank would strengthen its monitoring and supervision along with streamlining rules and regulations on banking sector under the plan to avoid any financial crisis.

"The central bank will revise its monetary policy to ensure a sustainable economic growth through poverty alleviation," the BB official said while explaining the key focus of the plan.

Automated payment system, government debt management, foreign exchange treasury management, and corporate social responsibility have already been included in the plan, the BB official said.

"We've given a big push to the agriculture sector, which would be followed by another big push to the small and medium enterprise (SME) sector to create employment opportunity across the country," he said, adding that the remaining people would come under the strategic plan as part of the financial inclusion.

The official also said around 160 action plans have already been incorporated in the national document to achieve the goal of the central bank.

"We want to build a dynamic and modern central bank through implementation of the short and medium term plan," another BB official noted.

The central bank of Bangladesh earlier discussed the plan with all commercial banks and financial institutions, the World Bank, the International Monetary Fund (IMF) and also with leading chambers and trade bodies, the central bank officials added.
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