The Financial Inclusion Insights (FII) survey, conducted by InterMedia Survey Institute, shows a significant increase in people into formal financial banking sector than before. More Bangladeshi adults aged 15 and above, are financially included now than in previous years. Forty-three percent now have formal financial accounts which was 37 percent in 2014. InterMedia launched the results of the ‘Bangladesh Financial Inclusion Insights (FII) 2015’ today (Wednesday) at a half-day seminar organised by BRAC, at the Lakeshore Hotel.
The panel discussion was moderated by Colleen Learch, Director of Research at InterMedia, where general manager of BRAC Microfinance Sahed Shams Azad, and other panelists from Grameenphone, bKash, and CGAP were present.
“This growth is primarily driven by more adults in Bangladesh having mobile money accounts now than in 2014. The more impoverished demographics, however, tend to adopt financial services at a slower rate than the population overall, and therefore require additional targeting to bring them into the financial fold,” said Learch.
The panel discussion focused on developing long-term use cases for digital financial services, and a debut of the new www.finclusion.org website, which includes 'Fiinder,' the searchable database of three years of demand-side data from Africa and Asia.
In the opening comments, Tanjilut Tasnuba, team leader of BRAC Social Innovation Lab said; “BRAC started incorporating mobile financial services in its activities since 2013, and has experienced some early struggles. We are now reaching thousands of rural women with MFS through proper hand holding and by helping them to realise the benefits. InterMedia is doing a great job in Bangladesh.”