Public Financial Management in Bangladesh
The article on Public Financial Management (PFM) in Bangladesh explores the country's evolving approach to managing public finances, emphasizing the integration of digital tools and institutional accountability. It presents a four-panel framework introduced by Comptroller and Auditor General Mohammad Muslim Chowdhury, which includes the Executive, Pay and Accounts, Audit, and Oversight Panels—each playing a distinct but interconnected role. The Executive Panel handles budgeting and policy, while the Pay and Accounts Panel centralizes financial control. The Audit Panel ensures compliance and transparency, and the Oversight Panel, including Parliament and media, holds institutions accountable. Despite progress, challenges remain in policy execution and local governance. The article advocates for smarter use of technology to enhance efficiency and strategic decision-making in public finance.
Read MoreUS Department of Treasury: Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector
The U.S. Department of the Treasury released a report addressing AI-specific cybersecurity and fraud risks in the financial services sector. The report, based on interviews with industry stakeholders, highlights the current use of AI in mitigating these risks, the challenges posed by emerging AI technologies, and best practices for managing AI-related threats. It emphasizes the need for collaboration across the financial sector, the importance of integrating AI risk management into existing frameworks, and the potential benefits of AI in enhancing cybersecurity and fraud detection. The report also discusses the regulatory landscape and the necessity for a common AI lexicon to improve understanding and communication.
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