The international certification course is introducing & being supported by Economic Relations Division, Ministry of Finance, Bangladesh Bank and GIZ Bangladesh

Staff Reporter, Dhaka : The ‘Certified Expert on Sustainable Finance’ course was launched. The first of its kind in Bangladesh, this international certification course is a collaboration between Frankfurt School of Finance and Management, Germany and Bangladesh Institute of Bank Management (BIBM) to strengthen the capacity of the bankers and associated key stakeholders on international and national practices on sustainable finance and the role of the financial sector towards a low carboon and more sustainable economic development of Bangladesh.

This course is being financed by the bi-lateral project “Improved Coordination of International Climate Finance (ICICF) project”, jointly implemented by Economic Relations Division, Ministry of Finance and GIZ Bangladesh. Furthermore, ICICF project is supporting Bangladesh Bank in implementing the Sustainable Finance Policy in the banking sector through capacity straightening of the financial sector officials and encouraging climate investments from the private sector.

The launching ceremony was held at the BIBM Auditorium on Wednesday, 01 March 2023. Sharifa Khan, Secretary, Economic Relations Division (ERD), Ministry of Finance, graced the occasion as the chief guest while Mr. Florian Höllen, Head of Development Cooperation, Embassy of the Federal Republic of Germany in Dhaka and Mr. Ahmed Jamal, Chairman, BIBM Executive Committee & Deputy Governor, Bangladesh Bank, were present at the event as special guests.

Among others, Dr. Firdaus Ara Hussain, Project Manager, ICICF Project-GIZ Bangladesh; Dr. Shah Md. Ahsan Habib, Professor (Selection Grade), BIBM; and Dr. Md. Akhtaruzzaman, Director General, BIBM, were also present along with other high officials from the Bangladesh Bank, ERD, Managing Directors/CEOs of different banks and NBFIs, GIZ officials and participants of the course in attendance.

Ms. Sharifa Khan, Secretary, ERD, Ministry of Finance, said at the event, “To address the effects of climate change, the gap between the amount of climate finance required and the availability of funds from the public and private sector is very high.” She stated that the Government allocates significant funding for addressing climate change from its own financial resources and acknowledged the efforts of Bangladesh Bank in mobilizing sustainable investments from the financial sector, yet more funding is needed from the private sector. The ERD Secretary emphasized that the financial sector needs the training, tools and methods to understand the investment risks due to climate change better. She shared her expectation that this certification program on sustainable finance will help the banks to steer their investments more towards climate and sustainable financing.

Deputy Governor of Bangladesh Bank Ahmed Jamal reassured Bangladesh Bank’s full support towards mobilizing more finance for sustainable investments and encouraging the bankers and the private sector to make sustainable investments strategies.

Mr. Florian Höllen, Head of Development Cooperation, Embassy of the Federal Republic of Germany in Dhaka, highlighted his satisfaction towards ERD and GIZ supporting this excellent institutional arrangement between Frankfurt School, one of the top financial schools of Europe and BIBM, the top training institution for bankers in Bangladesh.

The Certified Expert in Sustainable Finance (CESF-BF) is a joint certification program of Bangladesh Institute of Bank Management (BIBM) in association with Frankfurt School of Finance and Management of Germany. The program will consist of two modules – six-month online (with Frankfurt School) and three-month on-campus (with BIBM). 25 bankers have been selected for the first pilot batch and the academic costs for the first batch are waived through the ICICF Project.