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Friday, June 21, 2024

First MAM Kazemi Memorial Lecture on Monetary Policy held in BIBM

Staff Reporter

First M A M Kazemi Memorial Lecture on Monetary Policy was held in Bangladesh Institute of Bank Management (BIBM) auditorium on Sunday (June 26,2022).

Eminent economist Dr Atiur Rahman, Chairperson, Unnayan Shamannay; Former Governor of Bangladesh Bank and Former Bangabandhu Chair Professor, University of Dhaka delivered a keynote speech in this programme virtually through the zoom app.

Fazle Kabir, Chairman of BIBM Governing Board and Governor of Bangladesh Bank presided over the session while BIBM Director General Dr Md. Akhtaruzzaman made address of welcome. Dr Ashraf Al Mamun, Associate Professor and Director (Research, Development & Consultancy) of BIBM gave vote of thanks of the programme.

Former governors, deputy governors, senior central bankers, government high officials, BIBM’s chair and supernumerary professors, top executives from different banks and financial institutions, university professors, academicians, faculty members of BIBM, senior bank executives, media representatives, officers of BIBM participated in the First M A M Kazemi Memorial Lecture programme.

In his keynote speech, Dr Atiur Rahman, Chairperson, Unnayan Shamannay; Former Governor of Bangladesh Bank said, central banks can play a broader role to help countries meet key challenges, such as generating productive employment, allocate investment to productivity enhancing activities and tackle the challenges of climate change.

He said, developmental central banking works better with a stronger coordination between the central bank and government. In many developing and emerging economies, central banks have begun to place renewed emphasis on the promotion of economic development and structural transformation, looking beyond narrow mandates for macroeconomic stability.

Fazle Kabir said, after independence of Bangladesh, when the country did not have a monetary policy, Kazemi, as the Deputy Director of Bangladesh Bank, onerously drafted a new monetary policy for the nation which focused on sustainable GDP growth, stable inflation and exchange rate, and external balance.

During the COVID-19 crisis, Kazemi played instrumental role by advising Bangladesh Bank on the policy measures to combat the impacts of novel coronavirus on the economy of Bangladesh. We are grateful for all his policy initiatives to revive the COVID affected Bangladesh economy, he added.

BIBM Director General Dr Md. Akhtaruzzaman said, Kazemi, was one of the core architects to formulate and implement monetary policy to achieve the economic goals of Bangladesh. When Bangladesh was facing the challenge of liberalization to be integrated with the global economy, Kazemi made major contributions in shaping foreign exchange, money market policies and financial inclusion.
Dr Ashraf Al Mamun, Associate Professor and Director (Research, Development & Consultancy) of BIBM said, contribution of Late Kazemi Sir in central banking as well as the entire banking sector of Bangladesh will always be remembered with great honor and dignity.

The eminent central banker of Bangladesh, Muhammad Allah Malik Kazemi was born in Cumilla on 31 May, 1949. He was a Physics graduate from the University of Dhaka securing first position in 1973. Later he did another post-graduation in ‘Banking and Finance’ from University of Wales, the UK. Kazemi joined Bangladesh Bank (BB) as Officer Class-1 securing first position in order of merit. In his 44 years long career, Kazemi served the central bank in different important positions, including the Executive Director, Deputy Governor, Advisor to the Governor, and Change Management Advisor. As a person, Kazemi was meritorious, honest, ethical and patriot with a great sense of humor. He had a good command over international geopolitics, history, philosophy, science and literature likewise. Being one of the immense figures in the financial sector of Bangladesh, Muhammad Allah Malik Kazemi passed away on June 26, 2020 at the age 72, keeping all his heritages.

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