Optimization: Journal of Research in Management

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Challenges to Financial Inclusion in Bangladesh:A Case Study of Agent Banking for Garments Workers


Affiliations
1 School of Business and Director of the University of Liberal Arts Bangladesh (ULAB), Center for Enterprise and Society (CES), Bangladesh
     

   Subscribe/Renew Journal


This paper focuses on a high-profile donor-funded project for financially including Ready-made Garments (RMG) workers in Bangladesh, by first providing financial literacy sessions and second, opening bank accounts for them, through an innovation in banking known as agent banking. The project donors are Swiss Agency for Development Corporation and the MetLife Foundation and is being implemented by Swisscontact South Asia Regional Office (SARO). The paper sheds light on challenges in developing appropriate banking products, facilitating financial literacy, opening bank accounts, and regularizing usage of bank accounts by low-income RMG workers. The paper also outlines recommendations for overcoming the said challenges.
User
Subscription Login to verify subscription
Notifications
Font Size

  • This model is borne out of discussions with the Project Lead; DMD of NRBC Bank; and the Agent Banking Team at Bank Asia

  • A.Thakur,S.Sahoo. P. Barooah, I. Sivalingam, G. Njoroge. 2016. “Agency Banking: How Female Agents Make a Difference”.[Online Blog]. Microsave. http://blog.microsave.net/agency-banking-how-female-agents-make-adifference/ [17th December, 2017]

  • S.Islam. 2017. “More than Tk1,000cr transacted on mobile phones daily”. [Newspaper]. Dhaka Tribune. http://www.dhakatribune.com/business/banks/2017/07/25/daily-mfs-transactions-cross-tk1000cr-mark/. [17th December, 2017]

  • This is a near-term limitation, as confirmed through interviews with banks. It is difficult to predict when this will be addressed through policy intervention by the Bangladesh Bank.


Abstract Views: 374

PDF Views: 0




  • Challenges to Financial Inclusion in Bangladesh:A Case Study of Agent Banking for Garments Workers

Abstract Views: 374  |  PDF Views: 0

Authors

Sajid Amit
School of Business and Director of the University of Liberal Arts Bangladesh (ULAB), Center for Enterprise and Society (CES), Bangladesh

Abstract


This paper focuses on a high-profile donor-funded project for financially including Ready-made Garments (RMG) workers in Bangladesh, by first providing financial literacy sessions and second, opening bank accounts for them, through an innovation in banking known as agent banking. The project donors are Swiss Agency for Development Corporation and the MetLife Foundation and is being implemented by Swisscontact South Asia Regional Office (SARO). The paper sheds light on challenges in developing appropriate banking products, facilitating financial literacy, opening bank accounts, and regularizing usage of bank accounts by low-income RMG workers. The paper also outlines recommendations for overcoming the said challenges.

References