BRAC Bank launches country’s first women-led agent banking network
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BRAC Bank has hosted the inauguration of 12 new TARA agent banking outlets, led by women, in nine districts throughout Bangladesh, marking a significant milestone in the bank's commitment to promoting financial inclusion and women's empowerment in the banking sector under its digital financial inclusion project with the Bill and Melinda Gates Foundation.
The opening ceremony took place on Wednesday in Ujanikandi, Cumilla district, with 11 other agent banking outlets joining the celebration virtually.
This is a first-of-kind initiative of onboarding a group of women as agent partners of agent banking in Bangladesh, according to a media release.
The Bill and Melinda Gates Foundation has supported this initiative, underlining its importance and alignment with global standards for financial empowerment and inclusion. Under the arrangement, expenses related to setup, including infrastructure and technology for the outlets, have been provided with financial assistance from the foundation, the release says.
The USA-based world reputed private foundation has extended a grant to BRAC Bank to facilitate greater financial inclusion of women and SME entrepreneurs.
Under the partnership, BRAC Bank will onboard 100 women-led agent partners and bring 60,000 women under digital banking service.
Syed Abdul Momen, Deputy Managing Director and Head of SME Banking, BRAC Bank, formally inaugurated the outlets.
Nazmur Rahim, Head of Alternate Banking Channels; Humayun Kabir, Chairman of Dakhin Gunaghor Union Parishad; Alomgir Hossain, Head of Small Business (Central), SME Banking; Mohammad Jakirul Islam, Head of Strategic Alliance and Digital Financial Services; Khadija Mariam, Head of Women Entrepreneur Cell; and Md Nazmul Hasan, Head of Agent Banking, were present in the ceremony.
The inauguration was a vibrant gathering of local businessmen, women entrepreneurs, branch managers, and senior officials from the SME Banking and Agent Banking Divisions, the release adds.