BM Report
Bangladesh Fintech Forum’s 4th Fintech Summit came to an end, discussing insights on the profoundly emerging fintech industry in the country. “Shaping Bangladesh Fintech Ecosystem for the Future” bannered day-long summit took place at a luxurious hotel in the capital on Saturday.
The discussions of the summit revolved around multifaceted and timely topics such as redefining banking in the digital age, emerging trends and predictions of fintech for paving the path for fintech, innovation and growth, the role of blockchain in fintech, smart Bangladesh approach, and others. It brought together industry professionals, decision-makers, and thought leaders from the banking and finance sectors at home and abroad.
In the summit, the speakers recommended that the gap between digital banking and mobile banking services should be reduced to facilitate fintech users. Also in the insurance sector, financial technology must be applied to remove social taboos against insurance policies. In addition, introducing real-time pricing in the stock market is necessary. They also discussed the funding problems of financial technology’s startups. To attract foreign funds for these tech projects, our capacity, policy, infrastructure, and level of skills must be hashed out.
“With the help of the Bangladesh government, now we see hundreds of successful startups since the launch of the first financial technology initiative; those startups have done fantastic work and are introducing new innovations,” said ICT State Minister Zunaid Ahmed Palak as the chief guest. “Moreover, under the Startup Bangladesh campaign, we have around 2500 startup projects. They have already created 1.5 million jobs in Bangladesh”, he added.
He urged, “Tell the story of the transformation of digital Bangladesh. Based on the internet, smart ID cards, and interoperability, we have created the opportunity to enter the FinTech market and make Bangladesh smart with the four principles: smart citizen, smart economy, digital government, and inclusion.”
Shariful Islam, Bangladesh Fintech Forum and Brand Forum CEO, said in his opening speech, “The advancement of Bangladesh’s fintech sector is crucial for the Smart Bangladesh vision. Fintech is a very important component of the Smart Economy, one of the four pillars of the Smart Bangladesh vision. This platform is dedicated to strengthening the fintech ecosystem in Bangladesh through policy advocacy and engagement. I firmly believe today’s valuable discussions will open new frontiers for the emerging fintech industry in Bangladesh.”
The keynote speakers of the summit were: Arfan Ali, Chairperson, Zaytoon Business Consultants; Chairman, Onkur Digital Limited; Benjamin Quinlan, CEO & Managing Partner, Quinlan & Associates; Chair, Innovation & Technology Committee, AustCham Hong Kong; Mamun Rashid, Country Clients and Markets Lead, PwC Bangladesh; and Hrushikesh Mehta, Senior Vice President, Financial Services, Open Network for Digital Commerce (ONDC).
Some of the other respected discussants who graced the event with their thoughts and experiences included Md. Abul Kalam Azad, Vice Chairman, iDEA Foundation, Smart Bangladesh Network, Former Principal Secretary; Kamal Quadir, Founder & CEO, bKash Limited; Mahtab Uddin Ahmed, Founder and Managing Partner, BuildCon Consultancies Limited; Kazi Mahmood Sattar, Chairman, RSA Advisory Ltd.; Asif Ibrahim, Chairman, Chittagong Stock Exchange; Anis A. Khan, Chairman, AAZ & Partners; Veteran Banking and Financial Professional; Farzanah Chowdhury, Chartered Insurer ACII (UK); Managing Director & CEO, Green Delta Insurance Company Limited.
In the program, in 11 categories, 28 entities have been awarded for their innovative contributions to the fintech sector.
Bangladesh Fintech Forum initiated this Mastercard Presents 4th Bangladesh Fintech Summit, powered by bKash Limited and in association with Mutual Trust Bank Limited, Upay, BASIS, and The Daily Star. The event was organized by the Bangladesh Brand Forum. Strategic Partner: Aspire to Innovate (a2i), Innovation and Development Associates (iDEA) Foundation, Smart Bangladesh Network; Innovation Partner: Bangladesh Innovation Conclave; Hospitality Partner: Radisson Blu Dhaka Water Garden; Technology Partner: Aamra Technologies Limited; and PR Partner: Backpage PR.
