Bangladesh holds great potential for the fourth industrial revolution. As a result of the development of digital technology, changes in the country’s financial and banking system and major changes in industrial production have already taken place. Despite some limitations, Bangladesh will enjoy great benefits due to the fourth industrial revolution.
The speakers made these remarks at a conference titled ‘Fourth Industrial Revolution: Bangladesh’s Limitations and Opportunities’. The conference was organized by The Institute of Cost and Management Accountants of Bangladesh (ICMAB) Chattogram Branch Council at a five-star hotel in Chattogram on Friday (December 10).
Chattogram Divisional Commissioner, Md. Kamrul Hasan, NDC was the chief guest of the day-long conference. Former President of ICMAB Arif Khan presented the keynote address. The conference was attended by ICMAB President Abu Bakar Siddique, Bangladesh Bank Deputy Governor Ahmed Jamal, South Asian Federation of Accountants (SAFA) President AKM Delwar Hossain, Chattogram’s daily newspaper Azadi’s editor MA Malek, ICMAB Chattogram Branch Council Chairman Mohammad Arif, Mohammad Monwar-ul-Haque.
Chattogram Divisional Commissioner Md. Kamrul Hasan said that Bangladesh has already entered the era of the fourth industrial revolution, but its success largely depends on the voluntary participation of all professionals, including professional accountants. In the meantime, Bangladesh will become a middle income country by 2024. So now is the time to focus on improving the issues that are relevant to this topic.
Arif Khan, former president of ICMAB, said that Bangladesh’s GDP has grown from 100 billion dollars to 400 billion dollars in the 12 years from 2009 to 2021. This growth in Bangladesh has been possible due to the industrial revolution. This revolutionary change in the world today is due to the development of water, electricity, computerized systems, internet and artificial intelligence. At present, digital currency plays a major role in money transactions. Due to which the last 10 years have seen great changes in the financial system in Bangladesh.
ICMAB President Abu Bakar Siddique FCMA said Bangladesh is on the cusp of the fourth industrial revolution. If there is sustainable ICT development, enhancement of business planning, improvement of the condition of women and children, enhancement of social responsibility, improvement of political system and policy making, then the fourth industrial revolution will bring prosperity for the country. The medium of this revolution will also create employment opportunities for the educated people of the country. Overall, this fourth industrial revolution in Bangladesh will become a major driving force of the country’s economy.
Ahmed Jamal, Deputy Governor of Bangladesh Bank, said that Bangladesh would reap the benefits of the fourth industrial revolution. Worldwide, people’s employment is increasing due to the use of digital technology. Due to this industrial revolution, the development of various industrial sectors is noticeable.
At the conference, Sanem’s Executive Director, Prof. Dr. A.S. Selim Raihan, presented an article titled ‘Fourth Industrial Revolution: Transforming Limitations into Opportunities’ under the management of Imtiaz Alam, Chairman of Infinity Group. Bidyut Kumar Saha, Senior Investment Officer, Asian Development Bank, presented an article titled ‘Fourth Industrial Revolution: Preparing for the Banking Sector’, managed by AHM Shafiquzzaman, Additional Secretary, Ministry of Commerce.
Also present at the discussion were Mamunur Rashid, Deputy Managing Director, Index Group, and Kausar Alam, CFO, Shun Shing Group. Bangladesh House Building Finance Corporation Chairman Prof. Selim Uddin and BDRL (Dun & Bradstreet) CEO Dr. Syed A Mamun.
