Uphold values in banking

Parliament Speaker Shirin Sharmin Chaudhury has called upon the banking sector leaders to uphold values and pursue responsible financing to build a sustainable and prosperous future for all.  

"I believe this values-based concept may become a turning point in Bangladesh's efforts to balance development and equity and combat issues like climate change and poverty to create a society with more resiliency," she said.

The speaker made the comments at the inauguration of the 13th Summit of the Global Alliance for Banking on Values (GABV) at the Radisson Blu Dhaka Water Garden hotel yesterday, according to a press release.

She stressed achieving a pro-people, pro-planet, peaceful, and sustainable Bangladesh where no one is left behind to balance this interdependent relationship between development and equity.

"I believe this values-based concept may become a turning point in Bangladesh's efforts to balance development and equity and combat issues like climate change and poverty," says Parliament Speaker Shirin Sharmin Chaudhury

"Growth and equity are the two most essential elements for a nation's sustainable development," Chaudhury said.

Another crucial aspect, the speaker said, is that to ensure benefits for the entire population, particularly the underprivileged and vulnerable segments of the population, the rapid expansion must be strengthened with a focus on equal distribution.

David Reiling, chair of the GABV and CEO of Sunrise Banks, USA; Martin Rohner, executive director of the GABV, and Selim RF Hussain, CEO of Brac Bank, were also present.

More than 50 delegates, particularly CEOs and MDs of member banks, are participating in the three-day conference, themed "From Perspectives to Action: Transformational Practice in Action".

This is the second time the GABV is holding its annual summit in Bangladesh.

The GABV was founded in 2009 by 10 banks that believed in the need for a fairer, greener and more inclusive financial system. Brac Bank is the founding member and the only bank representing Bangladesh in the global forum.

Values-based banks have the ambition to put people and the planet at the centre of decision-making. With strong diversity in terms of size, business model, cultural contexts or markets they operate in, they share a common goal of using finance to meet their communities' needs and create a positive impact, said the press release.

The GABV comprises 70 financial institutions operating in more than 40 countries. Collectively, they serve more than 60 million customers and hold over $210 billion of combined assets under management.