Speakers at a discussion on Monday said most of the banks and financial institutes of the country cannot utilize maximum benefit from Information Technology (IT) due to scarcity of skilled workforce. They said these while speaking at a workshop on “Use of Information Technology in Enhancing Efficiency of Internal Control System” organized by the Bangladesh Institute of Banking Management (BIBM) in the city.
Speakers further said that effective and optimum use of IT in internal control system depends on the availability of infrastructure in terms of having an adequate combination of hardware and software as well as the ability of the bank employees in utilizing the maximum benefit from the it. Chairman of BIBM Executive Committee and Deputy Governor of Bangladesh Bank SM Moniruzzaman said the banking system is profoundly dependent on technology.
“Why should the internal control system be left alone in this wonderful journey? … Banks can now monitor its different segments through the use of sophisticated IT tools. All the banks of Bangladesh have started the use of IT for better management of the internal control system,” he said. Moniruzzaman also said that the central bank has also made significant strides in this regard. Bangladesh Bank is always very active in bringing atomization in different possible spheres of banking business.
Executive Director of Bangladesh Bank and Director General of BIBM Md Nazimuddin said output of the study along with opinions and observations of the experts will help the central bank to take future actions. Dr Muzaffer Ahmed, Chair Professor of BIBM and former Dhaka University teacher Barkat-e-Khuda said development of a prudent ICS and proper implementation of it would be supported by different stakeholders.