Economic Expert Called for Social Security Overhaul in Asia
Prof. Dr. Rashed Al Mahmud Titumir addressed regional inequality and poverty at a conference in Bangkok.
Updated on Oct. 10, 2026 in Economics — General
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Prof. Dr. Rashed Al Mahmud Titumir urged Asian nations to replace fragmented safety-net programs with comprehensive social security systems during an address at Chulalongkorn University. He emphasized that investment in job creation is essential for sustainable poverty reduction across the region.
Why it matters
Rising inequality, highlighted by Asian billionaire wealth reaching up to US$4 trillion in 2025, has left nearly half the region without social protection. Proponents argue that addressing these disparities through direct digital transfers and wealth taxation is vital to long-term stability.
An annual wealth tax of 2 to 5 percent on the wealthiest individuals in Asia could generate US$792 billion in revenue. Currently, 46.4 percent of the Asia-Pacific population lacks access to formal social protection benefits.
The players
Prof. Dr. Rashed Al Mahmud Titumir
He is an academic expert who specializes in economic development and social policy analysis within the Asian region.
The details
Titumir highlighted the efficacy of the Family Card initiative, which utilizes digital government-to-person transfers to deliver aid directly to women in Bangladesh. He also advocated for the Farmer Card program, which is projected to boost real GDP by up to 1.0 percent by 2030, as part of a broader shift toward formal-sector job creation.
Timeline
External debt servicing for low- and middle-income Asian nations totaled US$443.5 billion in 2022.
Climate disasters in Asia resulted in US$65 billion in losses during 2023.
Asian billionaire wealth reached between US$3.4 trillion and US$4 trillion in 2025.
Prof. Dr. Rashed Al Mahmud Titumir spoke in Bangkok on October 9, 2026.
Projected targets for Family Card coverage include 16.1 million beneficiaries by 2030.
Macro View
The push for comprehensive social security systems directly updates the strategies previously established to meet international development goals for poverty reduction. This approach contrasts with past reliance on fragmented safety nets that failed to mitigate the economic impacts of regional crises.
Expansion of digital transfer initiatives like the Family Card could directly improve financial access for millions of households currently excluded from formal support systems. These programs aim to provide a more stable economic cushion against future inflationary pressures and climate-related shocks.
The takeaway
Transitioning from fragmented aid to structured social security systems remains a primary strategy for improving regional economic resilience. Implementing targeted digital transfer programs can provide a critical safety net for vulnerable populations while stimulating long-term agricultural and job growth.
Further reading
For broader context on regional development and policy shifts, explore the Economics section.
Source note: This article includes information reported by The Business Standard.
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