Artificial intelligence to be used to spot fake, anonymous borrowers

The government will develop an Artificial Intelligence (AI)-based credit rating system to spot fake and anonymous borrowers.

The finance minister in his proposed budget speech disclosed the move, saying, "We are developing a machine learning and artificial intelligence (AI)-based credit rating system. With these, it will be much easier to spot fake and anonymous borrowers, and at the same time it will be considerably simpler for genuine borrowers to obtain loans."

According to the budget speech, a Bangladesh Bank committee is working out the strategies to broaden and accelerate financial inclusion effort, while the outline has been completed.

There are also plans to launch a digital bank by FY2023-24.

BUDGET FY2024 / Bangladesh National Budget 2023-24