AI systems still require human oversight, localization, compliance handling, data verification, exception resolution, and cultural adaptation. These are precisely the areas where developing countries may retain relevance.
Injecting fresh credit into such entities risks creating 'zombie firms' -- businesses that survive on subsidized finance but fail to generate sustainable returns.
When the domestic market offers higher returns with lower risks, firms naturally prioritize domestic sales over exports.
Financial inclusion cannot be measured solely by account ownership. It must be judged by whether a vendor can access 10,000 taka at 2 AM at a known cost, without humiliation or hidden charges, and with a pathway to better finance.
Commercial banking in Bangladesh is dominated by relationship banking, which is what breeds irregularities. But the way forward lies in reform rather than rejection.
The vision of an Asia less dependent on the US dollar is not impossible, but it is certainly difficult. Bangladesh’s experience vividly demonstrates why.