Financial literacy is essential in supporting financial inclusion, especially in the context of the advancement of Digital Financial Services (DFS). Leveraging on the phenomenon that financial literacy is a prerequisite for sustainable financial inclusion; Bangladesh Bank has implemented a number of initiatives so far. Bangladesh Bank for the first time has taken initiative for issuing this Financial Literacy Guidelines (FLGs) with a view to rolling out a wide range of financial literacy programmes for mass people.

BRAC Bank and Bangladesh Freelancer Development Society (BFDS) has trained more than 150 female aspiring freelancers in Sylhet to help and guide them build career in this promising growing industry.

  

BRAC Bank Women Banking segment ‘TARA’ focuses to propagate financial inclusion, economic

empowerment and technological participation of women. Hence, 'Shabolombi TARA' initiative aims to train at least 1600 females from all ages and sectors without any fee across the country. Both parties hope this program will definitely help females to be more self-reliant and pave their path to financial freedom through freelancing. BRAC Bank will also provide banking services to the participants to extend financial independence and increase their banking knowledge.

Mohammed Yahya, Cluster Manager Sylhet Region, BRAC Bank; and Dr. Tanjiba Rahman, Chairman, BFDS; senior officials from both organizations conducted the intensive training.

We strategically partnered with BRAC Kumon, a renowned after school educational institution, to access a pool of students and parents actively involved in their programs.

The Kumon campaign yielded encouraging results in terms of account openings and increased awareness of financial inclusion. A significant number of parents actively participated in the initiative, reflecting a positive response to the concept of early savings for their children. Feedback from parents indicated a heightened awareness of the importance of financial planning for their children's future. Many expressed gratitude for the campaign's informative sessions and the opportunity to take concrete steps toward financial inclusion for their families.

                                                                                                                   

Syed Abu Naser from our team, posted in Dubai, visited laborer camps, Bangladeshi food places, and even Iftar and Sehri locations during the Ramadans, around the city frequently and imparted basic knowledge like digital remittance channels, the conveniences of cashless remittance, how to open BBL accounts from abroad, the features of Astha, and how it can change the way they send, save, and spend remittance.

Nahid Sultana Ritu from our team, posted in Seoul, also conducted similar sessions like Naser. As part of our account opening campaign in association with GmoneyTrans (our partner exchange house in S. Korea), she set up temporary booths at different restaurants, institutions, and areas where Bangladeshis visit frequently, and explained to them the benefits of digital remittance channels, how they can directly open accounts from abroad and send remittance to the accounts, and how to use Astha for local payments and fund transfer as well.

During these customer engagement sessions organized for the beneficiaries from time to time, our colleagues from remittance business team attend and conduct brief financial literacy sessions for the participants. We discuss the wonderful conveniences offered by cashless remittance channels, the risks and problems with informal channels (Hundi/Hawala), and the features of BBL Probashi products.

These customer engagement sessions, focusing chiefly on females, are hosted in remote areas of the country where existing and prospective migrants and their beneficiaries are invited. During these workshops, the benefits of using banking channel for remittance and the advantages of digital remittance are discussed, along with building awareness against informal channels of remittance.

Audiovisual-based Financial Literacy

During the pandemic, when public gatherings and physical assembly was restricted throughout the world for a very long period, we published an AV on our Facebook page, with heavy paid promotion, to keep the wheel rolling for our financial literacy initiatives. The AV focused mainly on the various benefits of sending remittance directly to BBL accounts.

Uthan Boithok: There are number of foreign remittance beneficiaries and also remittance fighters who are visiting home now were present in the UTHAN BIOTHOK program. We have covered below points in the discussion;

• Financial literacy and it's necessity in order to offering our banking services.

• The process though PIN and account credit, how fast we can disburse remittance and the doorstep service.

• Government reward 2.5% incentive on the remittance amount.

The observation we have explored from the program is that the beneficiaries are interested in getting a souvenir from the bank. Important information is that remittance fighters are influenced by the exchange houses to send remittances through IBBL.

Foreign Remittances Workshop: Agent Field Officers (Agent staff) of 77 Agent Banking Outlets in Comilla region participated in the workshop where the following topics were discussed:

• Business development initiatives.

• Knowledge sharing from Top 10 Remittances Disbursement AB Outlets ad their opinion.

• The challenges of low remittance performing AB Outlets and what initiative can be taken to improve it.

• The possible ways to increase number of remittances.

• WU transaction process and agent fund replenishment mechanism.

• The possible steps that need to be taken to improve exchange houses' GL insufficient funding experience.

• Gifts for remittances beneficiary to motivate them come to BBL

• Increase number of remittances exchange houses for agent banking channel.

• Exchange house list with PIN pattern need to provide to Agent Banking Outlets for their better understanding.

• Increase agent commission amount.

• Provide agent commission for account credit remittance.

• Necessary marketing materials for agent banking outlets.

I would like to thank Mr. Md. Asif Hossain, Senior Manager; Nafis Uddin Mehran, Associate Manager, Remittances Product; Mostakim Hossain, Associate Manager, Remittances Operation; Abu Nasir, Associate Manager, Remittances Operation from Remittance and Probashi Banking; Mr. Ariful Islam, Associate Manager; Mr. Md. Faysal Islam, Regional Coordinator, Chattogram Division; Oliar Rahman, Officer, Agent Support; Sayful Islam, Team Lead, Cumilla Region of Agent Banking Department for their presence in the programs and made the program successful.

"Smart Bangladesh, Smart Haat" aiming to provide financial security to cattle farmers, BRAC Bank organized 3 different awareness program at Alamdanga Haat, Alamdanga Agent Banking Outlet and District Livestock Office in Chuadanga District on June 8, 2022 as a Lead Bank of the project under supervision of Payment Systems Department, Bangladesh Bank. As we know that cattle farmers face various risks/incidents while returning home with money from selling cattle at the cattle market, the purpose of the program is to make the last mile cattle farmers aware and reach the message that buyers can purchase cattle and pay it to the farmer’s bank account using digital channels such as Apps, QR or POS terminals instead of cash aiming to convert the transaction into cashless. Cattle farmers will also get the privilege of depositing money in their own account through the nearest agent banking outlet of the cattle market and then they will be able to withdraw money from any convenient agent banking outlet/branch in their own area. Through transactions in bank accounts, cattle farmers will be eligible candidates to avail agricultural loan facility.

All three events were very effective and successful as expected, the target clients were keen to know the possible risk-free solutions and to express their desire to open an account and make transactions. Those who have participated with us in this event, Mr. Shah Zia-Ul Haque, Additional Director; Ms. Julekha Nusrat, Joint Director; Mr. Hasnat Ahsan, Deputy Director from Payment Systems Department of Bangladesh Bank; Mr. Sohail Alim, Director, MasterCard; Mr. Md. Nasimul Islam, Director, Government Engagement, VISA; Mr. Khalid Hossin, Head of Digital Banking Division and Mr. ASM Ziaul Hider, Deputy Head, Agent Banking Department from Mutual Trust Bank; Mr. Md. Kamrul Islam, Alternate Delivery Channel and Mr. Abu Jobayer, Head of Business, Digital Payment Channel from Bank Asia Ltd. From the locality, Mr. Hasan Qadir Ganu, Mayor, Alamdanga; Mr. Saiful Islam, Officer in-charge, Alamdanga Police Station; Mr. Abdullah Kafi, District Livestock Officer, Chuadanga; Mr. Arefin Mia Milon, President and Mr. Kamal Hossain General Secretary of Alamdanga Bonik Samity.

From the lead bank, Mr. Md. Nazmul Hasan, Head of Agent Banking; Mr. Kamruzzaman, Branch Manager, Chuadanga; Mr. Dipak Chandra Das, Manager, Merchant Acquiring; Mr. Raihanul Kabir, Manager, Merchant Acquiring; Mr. Humaun Kabir, Officer, Merchant Acquiring; Mr. Mostafizur Rahman, Officer Merchant Acquiring; Mr. Zillur Rahaman, BDM, SME Banking; Mr. Suman Reza, Team Lead (Jhenaidah Region), Agent Banking Department, Mr. Yeasir Arafat, ARO, Agent Banking Department; Mr. Mahfujur Rahman, ARO, Agent Banking Department and other officials.

সুন্দরবনে বসবাসকারী একটি ক্ষুদ্র নৃ-গোষ্ঠী, মুন্ডা সম্প্রদায়ের সামাজিক ও অর্থনৈতিক সমৃদ্ধি অর্জনের লক্ষে সঞ্চয় উদ্বুদ্ধকরণ সভা।

সাধারণ মানুষের সাথে, সাধারণ ভাবে ব্যাংকিং সেবা পৌঁছে দেওয়ার জন্য আমরা খুলনা এজেন্ট ব্যাংকিং পরিবার নিত্য নতুন কর্মসূচি গ্রহণ করে থাকি। তারি ধারাবাহিকতা আজ এক সাধারণ গ্রামীণ পরিবেশে খোলা মনে মানুষের পাশে গিয়ে ব্যাংকিং সেবা পৌঁছে দিচ্ছি। ধন্যবাদ কয়রা এজেন্ট ব্যাংকিং আউটলেটকে।

Here is the list of activities we have done for women entrepreneur to develop their entrepreneurship skills-

1. Uddokta 101 | This is a entrepreneurship development training program of BRAC Bank. In collaboration with Dhaka University, this program has completed two batches successfully. Around 62 entrepreneurs, majorly women entrepreneur, are graduated from this program.

2. Entrepreneurship Development Training program | In collaboration with Bangladesh bank and SEIP project of Bangladesh government, BRAC Bank conducted an intensive training program for entrepreneurs. 22 women and 2 men entrepreneurs have completed this session with success.

3. Digital entrepreneurial skill workshop | on the occasion of women’s day 2022, BRAC Bank TARA organized digital entrepreneurial skill development workshop for 73 women entrepreneurs. Industry experts from digital marketing, accounting app developers and trade finance experts had taken the session along with a special session on basic banking know-how.

BRAC Bank women entrepreneur | cell had conducted session under the program organized by USAID and UNDP named “Empowering women in e-commerce”. Nearly 140 women entrepreneurs got an intensive training on banking, financing, and supply chain management for e-commerce business owners.