Dhaka: The country’s first-ever banking fair began on the Bangla Academy premises in Dhaka on Monday.

Bangladesh Bank governor Atiur Rahman opened the fair, calling for spreading a message: ‘Bank is not only the treasury of the rich, it is the dedicated factory for empowerment of poor’.

The five-day exhibition that will end on 28 November will remain open from 10:00am to 8:00pm every day where all the banks and financial institutions are showcasing their products to reach the banking service to the customers’ doorstep, reports a local agency.

Seminars, cultural functions and open debates are among everyday programmes to make the fair more participatory, said the organisers from the Bangladesh Bank.

With Bangladesh Bank deputy governor SK Sur Chowdhury in the chair, NBR chairman Nazibur Rahman, Banking Division’s secretary Aslam Alam and Finance Ministry’s additional secretary Mainul Islam also addressed the inaugural function.

In his speech, the central bank governor said this fair is the kickoff of a journey to become a ‘banking nation’.

Going down the memory lane, he said when he was made the central bank chief seven years back, the Prime Minister had asked him to reach the banking services to the doorstep of the common people.

‘Since then, we’ve been working for widening the banking service for a financial inclusion,’ he said.

The target was to bring the poor, women, schoolgoing students, street children, garment workers and underprivileged people within the banking network for a sustainable macro economic stability, he added.

Atiur said the ultimate target of the central bank is to create universality of the banking business as banks are places of dependence for poor, place of deposits for middle class as well it is used as the treasury for rich.

Speaking on the occasion, NBR chairman said a good cycle has started journey through the banking fair while a vicious cycle has been active in the banking sector to exploit it. ‘This vicious cycle is now affecting the revenue sector as well’.

He hoped this fair will ultimately benefit the NBR to enhance its revenue collection.

He, however, alleged that some irregularities in the banking sector are the reasons of pain.

Urging all concerned in the banking sector to lower the bank interest rate to a single digit, Aslam Alam said this is necessary to encourage private investment. ‘Because, investment is needed to increase the growth rate for attaining the vision to become a middle income country,’ he said.