Finance Minister A H Mahmood Ali has announced that the government will implement a credit scoring system leveraging artificial intelligence (AI) and machine learning to enhance loan services from digital banks.

"A credit scoring system utilizing artificial intelligence and machine learning technology will be introduced to facilitate loan services from these digital banks. This will make it easier to identify fake and anonymous borrowers and streamline the loan processing for genuine borrowers," he stated.

Ali made this announcement while presenting the national budget of approximately Tk 7.97 lakh crore for FY25 at Jatiya Sangsad this afternoon.

In his speech, the finance minister highlighted that as part of the 'Smart Bangladesh' initiative, the government issued letters of intent on October 25, 2023, for the establishment of two digital banks: Nagad Digital Bank PLC and Kori Digital Bank PLC.

"These digital banks aim to provide technology-driven banking services to the public. Plans are underway to increase the number of digital banks in the future," he added.