Finance Minister AHM Mustafa Kamal on Thursday said that a digital bank would be set up within the next fiscal year to broaden and accelerate financial inclusion efforts.
"A Bangladesh Bank committee is working to work out strategies to broaden and accelerate financial inclusion efforts. The committee's work on formulating the outline for setting up the digital bank is now completed. In FY2023-24, we hope to be able to launch a digital bank," he said.
The minister said this while placing over Tk7.61 lakh crore proposed national budget for FY23-24 at Jatiya Sangsad in the city.
At the same time, Kamal said the government is developing a machine learning and artificial intelligence (AI)-based credit rating system.
"With these, it will be much easier to spot fake and anonymous borrowers and at the same time it will be considerably simpler for genuine borrowers to obtain loans," he added.