Alliance for financial Inclusion (AFI), the global network of financial regulators has chosen Bangladesh Bank (BB) as co-chair in one of its major policy area- the SME Finance working group for the next two years.

This is in recognition of the breakthrough policy intervention by BB to improve access to finance to the MSMEs and Women entrepreneurs as well as its contribution and leadership towards knowledge exchange and mutual learning in the area of MSME and women entrepreneurs lending.

The decision was taken in a meeting of AFI on Wednesday. Bangladesh Bank was chosen by the network members over India, Kenya, Peru and Philippines, the four other candidates. BB will take the charge of the working group in 2016.BB Representative in the SME Finance working group Md. Ashraful Alam, Deputy General Manager, SME and Special Programmes Department welcomed this move by the AFI and its members, said a press release issued by the central bank.

Ashraful Alam in his speech outlined the initiatives taken by the Governor Dr. Atiur Rahman to improve the access to finance for MSMEs and women entrepreneurs. Substantial positive changes have taken place after Dr. Atiur Rahman took the helm of BB, in the areas of inclusive growth and financial inclusion, he added.

Ashraful Alam requested the network members to further engage in mutual learning and knowledge exchange so that large number of unbanked MSMEs can be brought into the formal financial services that will help boost national, regional and international inclusive growth.

He called for concerted efforts by AFI to work for further improvement in financial inclusion around the globe.