bKash partners with wagely to facilitate earned wage access to RMG workers
The facility will help RMG workers manage their emergency finances
Financial wellness platform Wagely Bangladesh Ltd (wagely) in cooperation with bKash will provide Earned Wage Access (EWA) to garment workers who receive salary through bKash's payroll solution.
With this facility, employees will be able to take advantage of receiving already worked-for wages before payday through their bKash account, which will help them manage their emergency finances, according to an MoU between bKash and wagely recently, said a press release.
Ali Ahmed, chief commercial officer of bKash, and Tobias Fischer, chief executive officer and co-founder of wagely, signed the MoU in the presence of wagely's Head of Strategy and Interim Country Amrita Vir, Head of Channel Partnerships Sagir Ahmed Robin, bKash Head of Payroll Business ATM Mahbub Alam and other officials.
As the pioneer of EWA in Bangladesh, wagely's mission is to create a holistic financial well-being platform for workers by facilitating access to earned wages. Completing one year of operations in Bangladesh, wagely has been able to impact the lives of 1,00,000 workers through their solution and has contributed to reducing worker migration, improving productivity, and increasing business savings.
More than 800 companies in the country's garment industry use bKash's digital payroll solution to pay salaries and allowances to their employees. Besides enabling receiving salaries digitally, bKash is working towards creating a sustainable financial ecosystem for the employees and workers of this sector.
Workers at present get an opportunity to improve their financial management by using the developed digital payroll system. Together, wagely and bKash will continue to improve the financial wellness of garment workers in Bangladesh through their integrated offerings.