UCB celebrates Financial Literacy Day

United Commercial Bank PLC (UCB) has celebrated Financial Literacy Day-2024 on Monday under the theme ‘Whoever has financial literacy, he knows the proper management of earned money’.

Arif Quadri, the Managing Director and CEO of UCB, inaugurated the day’s programme at the bank’s head office at 3 pm, according to a media release.  

Speaking during a discussion organised on the occasion of the day, he said, “The purpose of financial inclusion is to reach the common people who are deprived of financial services with modern banking services. Under the guidance and strong leadership of Bangladesh Bank, United Commercial Bank PLC has been focusing on activities to expedite financial inclusion. These include the facility of opening bank accounts (starting from Tk 10 to Tk 100), such as school banking accounts; bank accounts for street children & working-class people; and providing mobile banking and agent banking services.”

"Financial inclusion is not about just receiving or sending money, rather it’s about bringing the low-income people of the society under modern banking services and making them interested in saving, encouraging digital transactions, and bringing them under other banking services including micro-loans," he added while urging all the employees of the bank to play a sincere role in this regard.

Additional Managing Director of UCB ATM Tahmiduzzaman; Deputy Managing Director and Supervising Authority of UCB Financial Literacy Wing Mohammad Khorshed Alam; and Wing Head and Senior Executive Vice President Md Sekandar-E Azam also delivered speeches at the event.

The speakers said that spreading financial literacy among the masses is essential for the implementation of the Bangladesh government’s Vision 2041, the achievement of the United Nations’ Sustainable Development Goals (SDGs) by 2030, and the implementation of the National Financial Inclusion Strategy (2021-2026).

If people are given a chance to gather a correct understanding of banking and financial services, they will be aware of modern banking and financial systems and be interested in availing financial products and services, which will play a strong role in achieving the goal of financial inclusion in Bangladesh, the speakers added.  

Bangladesh Bank has issued directives to celebrate Financial Literacy Day on the 1st Monday of March every year in order to improve the quality of life of the backward section of society by making them interested in banking services and savings.

In its continuation, UCB has celebrated the day with due importance, the release says.