A day-long conference on Inclusive Finance leading to forming Inclusive Finance Cooperation Committee (IFCC) co-organised by the Asian Financial Cooperation Association (AFCA) of China and Grameen China, hosted by Grameen Trust was held on Monday at Grameen Bank complex.
The Asian Financial Cooperation Association (AFCA), established by the government of China in March 2017, is a platform to establish business connections and communication among financial institutions across regions as well as support the growing Asian economy and developing financial market, said a statement.
The AFCA promotes and supports social business within AFCA and IFCC member organizations. The AFCA has set up an office for Inclusive Finance Cooperation Committee (IFCC) and appointed a Deputy Secretary-General devoted to the development of inclusive finance. Professor Yunus has been invited to become the first Chairman (Director) of the Inclusive Finance Cooperation Committee (IFCC) as IFCC would like to benefit from Professor Yunus’ valuable experience from Grameen Bank, a classic model of inclusive finance, having provided microcredit and empowered millions of women and families.
Mr. Yang Zaiping, the Secretary-General (CEO) of AFCA made the welcome speech, welcoming 170 member participants including high level delegations from leading financial institutions of China who came to Dhaka to attend the conference including top executives from AFCA itself, Agriculture Bank of China Limited, Bank of Beijing, China Academy of Regional Finance, China Minsheng Bank, China Institute for Innovation and Development Strategy, China Association for Quality Promotion, China Development Bank, China Economic Information Service, Ecological Bee Industry Professional Committee, Foundation for Yunus Social Business Taiwan, Gousen Securities Co. Ltd., Zhengzhou University, a university housing a Yunus Social Business Centre (YSBC).
In addition to the 60 member delegation from China, the conference was joined by Mr Syed Mokhtar Albukhary, one of the top business leaders of Malaysia and the founder of Al Bukhary Foundation, Malaysia, along with his daughter and son who are involved in social businesses, Vice Chancellor of Malaysian university, a 41-member Chinese team from SIAS International University in China, 8 member team from National Central University Taiwan visiting Yunus Centre, representatives from Bangladesh China Chamber of Commerce and Industry as well as guests from Britain, the Netherlands, and distinguished participants from Bangladesh.
Nobel Laureate Professor Muhammad Yunus inaugurated the conference congratulating the idea of creating a powerful wing of inclusive finance in Asian Financial Cooperation of China (AFCA). This was originally proposed by Professor Yunus during his visit to AFCA headquarters in China in 2017. This wing, he explained, should be striving to build an international platform for leaders in Asia’s finance industry and social business entrepreneurs to share their inclusive finance experience and strengthen all the inclusive finance programs in the region. The endeavor seeks to create opportunities for organizations to better serve the underprivileged by including them into the current financial system.
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