In Bangladesh, only 36 percent of women have a formal bank account, compared with 65 percent of men. Mobile financial services(MFS)show great promise in addressing this gap, particularly because they can reach populations,including women living in rural areas, that are expensive for banks. To reach more women, a joint IFC and Bangladesh Bank initiative developed the business case for electronic wage payments. During 2016 and 2018, more than 70,000 female garment workers opened mobile financial accounts. Consequently, Bangladesh Garment Manufacturers and Exporters Association has expressed interest in adoption of digital wage payment across its 4,500 member factories.
Detalhes
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Data do documento
2020/06/29
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TIpo de documento
Informativo
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No. do relatório
150287
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Nº do volume
1
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Total Volume(s)
1
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País
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Região
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Data de divulgação
2020/06/29
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Disclosure Status
Disclosed
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Nome do documento
Accelerating Women's Financial Inclusion in Bangladesh's Garment Sector
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Palavras-chave
formal bank account; garment worker; private sector industry; barrier to woman; formal financial service; financial account; financial inclusion; business case; production efficiency; garment factories; literacy material; financial empowerment; market study; Market Studies; lead industry; female workers; Gender Gap; financial life; mobile banking; rural area
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