financetom
Technology
financetom
/
Technology
/
Muhammad Yunus may bring reforms to Bangladesh telecoms, mobile operator says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Muhammad Yunus may bring reforms to Bangladesh telecoms, mobile operator says
Aug 13, 2024 9:14 AM

(Reuters) - With Muhammad Yunus in charge, Bangladesh may see much-needed reforms and investment in its telecoms sector given the caretaker government leader's knowledge of the industry, according to one of the country's leading mobile operators.

Yunus, who took over last Thursday, founded the Grameen Bank that won the 2006 Nobel Peace Prize for pioneering the microcredit movement. He is also a stakeholder in Grameenphone, Bangladesh's leading telecom operator, jointly owned by Yunus' non-profit Grameen Telecom and Norway's Telenor, which holds 55% of Grameenphone's shares.

"I'm happy to see that the interim government leader is someone who is very familiar with our industry, who is very familiar with foreign direct investment and what international investors actually expect," Kaan Terzioglu, head of mobile operator Banglalink's parent company Veon, told Reuters.

Banglalink is the third-largest mobile operator in Bangladesh.

Sabhanaz Rashid Diya, executive director at Tech Global Institute, a tech policy and human rights non-profit, also said Yunus' experience would be useful in bringing reforms to a highly complex, competitive, and regulated telecom industry.

She also cited Yunus' work in advancing microfinancing as a pathway to lift people out of poverty, but noted that competition within traditional banking and mobile financial services as well as reforms to the financial sector would have to be addressed first.

Another challenge for the next Bangladeshi government will be reducing the significant unconnected population too.

More than half of the South Asian country's 170-million population has no access to a mobile network, while only a third can use mobile internet services, according to estimates by the Global System for Mobile Communications Association.

Mobile service taxes are also serving as a barrier to wider internet access, especially for low-income households, it said in a report.

Yunus will not be directly responsible for overseeing telecoms and information and communications technology.

On Friday, he appointed 26-year-old student Nahid Islam, who spearheaded the protests that ousted Prime Minister Sheikh Hasina, as the new telecommunications minister.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Insights Into ON Semiconductor's Performance Versus Peers In Semiconductors & Semiconductor Equipment Sector
Insights Into ON Semiconductor's Performance Versus Peers In Semiconductors & Semiconductor Equipment Sector
Mar 21, 2024
In the dynamic and cutthroat world of business, conducting thorough company analysis is essential for investors and industry experts. In this article, we will undertake a comprehensive industry comparison, evaluating ON Semiconductor and its primary competitors in the Semiconductors & Semiconductor Equipment industry. By closely examining key financial metrics, market position, and growth prospects, our aim is to provide valuable...
Understanding Super Micro Computer's Position In Technology Hardware, Storage & Peripherals Industry Compared To Competitors
Understanding Super Micro Computer's Position In Technology Hardware, Storage & Peripherals Industry Compared To Competitors
Mar 21, 2024
In today's rapidly changing and highly competitive business world, it is vital for investors and industry enthusiasts to carefully assess companies. In this article, we will perform a comprehensive industry comparison, evaluating Super Micro Computer ( SMCI ) against its key competitors in the Technology Hardware, Storage & Peripherals industry. By analyzing important financial metrics, market position, and growth prospects,...
JinkoSolar Holding Co Stock: A Deep Dive Into Analyst Perspectives (5 Ratings)
JinkoSolar Holding Co Stock: A Deep Dive Into Analyst Perspectives (5 Ratings)
Mar 21, 2024
JinkoSolar Holding Co ( JKS ) has been analyzed by 5 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0...
Assessing Altair Engineering: Insights From 4 Financial Analysts
Assessing Altair Engineering: Insights From 4 Financial Analysts
Mar 21, 2024
4 analysts have expressed a variety of opinions on Altair Engineering ( ALTR ) over the past quarter, offering a diverse set of opinions from bullish to bearish. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a...
Copyright 2023-2026 - www.financetom.com All Rights Reserved