BRAC Bank launches country's first unique women-led Agent Banking network
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 Bill and Melinda Gates Foundation.
The opening ceremony took place on 6 March 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. This inclusive initiative will usher a new chapter in inclusion of enterprising women entrepreneurs in Agent Banking business and it will go a long way in financial inclusion and empowerment of women in Bangladesh.
Keep updated, follow The Business Standard's Google news channel
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 of the outlets have been provided with financial assistance of the foundation.
The USA-based world reputed private foundation has extended a grant BRAC Bank to facilitate greater financial inclusion of women and SME entrepreneurs. Under the partnership, BRAC Bank will on-board 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, cairman 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.
The inauguration was a vibrant gathering of local businessmen, women entrepreneurs, Branch Managers, and senior officials from the SME Banking and Agent Banking Divisions. This diverse participation underscored the community's support and enthusiasm for the new women-led TARA Agent Banking outlets.
BRAC Bank's initiative to launch these outlets is a step forward in its ongoing efforts to provide accessible banking services, especially to women and underserved communities across Bangladesh. By empowering women to lead these outlets, BRAC Bank aims to inspire confidence and entrepreneurship among women, fostering economic growth and financial inclusivity.
