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

Optimization: Journal of Research in Management

Volume 10 Issue 2

Published: 2018
Author(s) Name: Sajid Amit | Author(s) Affiliation: Assist. Prof., School of Business and Director of the Univ. of Liberal Arts Bangladesh, Bangladesh.
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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.

Keywords: N.A.

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