Sarathi – Progress through Financial Inclusion is a 30-month project (Jan 2018-Jun 2020), jointly funded by MetLife Foundation and Swisscontact. It is working with commercial banks and Ready-Made Garments (RMG) factories in Bangladesh to bring RMG workers, especially women, within the sphere of formal banking services and to enable them to conduct financial transactions as account holders and clients. The project activities are directed to find market-based and scalable solutions that address underlying constraints such as inadequate financial literacy; lack of access to formal banking services; and inadequate commercially viable business solutions for banks to cater to their needs.
Under this partnership agreement, Sarathi will work with DBBL to digitize the payroll system in RMG factories through cost-effective alternative delivery channels such as ATMs. This will enable the RMG workers of these partner RMG factories to avail various banking services through their salary accounts. Sarathi’s financial literacy sessions and awareness campaigns will complement these efforts.
Md. Monzur Mofiz, Deputy Managing Director & Chief Business Officer, DBBL and Kazi Mahfuz Mamtazur Rahman, Team Leader, Sarathi- Progress through Financial Inclusion, Swisscontact Bangladesh signed the MOU on behalf of their respective organizations. Mr. Mosharrof Hossain, Head of Financial Inclusion Division; Ahmed Aslam Al Ferdous, Head of Agent Banking; Darpan Roy, Deputy Head of Agent Banking; and Ajajul Huq, Head of Disbursement and Bills Payment were present during the signing. Saifur Rahman, Head of Communications and Faria Mahbub, Assistant Manager, Communications of MetLife Bangladesh were also present at the ceremony. From the project, Salma Akhter, Project Coordinator- Partnerships and Advocacy; Tamjid Ahmed, Project Coordinator- Monitoring and Results Measurement; Nooha Sabanta Maula, Associate – Portfolio Development & Communications; and Shariful Islam Chowdhury, Project Consultant were present.