Digital Connectivity Essential for Sustainable Development: Khosru

Finance Minister Amir Khosru Mahmud Chowdhury on Saturday said strong internet connectivity, a digital wallet for every citizen and the digitalisation of the rural economy are essential for ensuring sustainable development and bringing marginalised people into the mainstream economy.

He said the effective use of digital infrastructure and artificial intelligence (AI) could promote sustainable development while expanding financial and digital inclusion.

The finance minister made the remarks as the chief guest at a dialogue titled “Financial Inclusion 2.0”, organised by the Power and Participation Research Centre (PPRC) at a hotel in Dhaka.

“Without strong internet infrastructure, it is not possible to fully realise the benefits of digital finance,” he said.

Khosru said the government was taking steps to identify marginal producers and artisans through the “One Village, One Product” programme and bring them under digital payment and banking systems.

He said affordable smartphones were now being produced in Bangladesh, with some devices available for around Tk 4,000–5,000, making technology more accessible to farmers and ordinary citizens.

Farmers can use smartphones to obtain information on weather conditions, fertiliser requirements and market prices of agricultural products, he added.

The finance minister said financial inclusion was also being expanded through banking services for allowances provided under initiatives such as the Family Card and Farmer Card, as well as allowances for imams and priests.

He stressed the need for adequate cybersecurity and policy safeguards, or “guardrails”, to ensure that technological changes do not hinder innovation.

Dr Hossain Zillur Rahman moderated the dialogue, which was attended by heads of various banks, insurance companies and financial institutions.