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Institute for Inclusive Finance and Development (InM)

Journey towards excellence

Year ending E-news 

January - December 2020

 Governing Body Meeting

The 56th meeting of the InM Governing Body was held on 20 December 2020 at 2.00 pm. Due to the present Covid-19 pandemic, the meeting was held virtually. Read More

General Body Meeting

The 15th InM Annual General Meeting (AGM) was held virtually on 20 December 2020 at 3.30 pm. with Dr. Qazi Kholiquzzaman Ahmad, Chairman InM in the chair. Read More


The Psychology of Covid-19 and Financial Behaviour: The Urban Middle Class in Bangladesh

This InM online survey based study captures the adjustments in economic behaviour and changes in the choice of financial instruments by the urban middle class due to Covid-19 pandemic in Bangladesh. The analysis shows that 43 per cent of the surveyed households have experienced income losses; 57 per cent of the lower middle class (LMC) households suffered income losses as against only 19 per cent of the upper middle class (UMC) households. This shows a more stable income source for the UMC households. Nearly one-third of the LMC households reduced their food costs compared with 6 per cent of the UMC households to mitigate the income effect of the Covid-19 pandemic.  During the pandemic, the middle class households have transformed their financial behaviour more towards digital and online markets with nearly two-thirds reporting high reliance on online purchases. The observed changes indicate a long term transformation in the financial behaviour of the middle class households. The study highlights the need for elimination of all sources of vulnerability of the country’s middle class, specifically the challenges of the LMC. The rising expectations of the expanding middle class are the critical drivers of social change in Bangladesh, needed to overcome the low living standards of the majority of the population and reach the cherished goal of emerging as a high income country by 2041. The key for such dynamic transformations is the creation of a more learning middle class; that is, a dynamic middle class that would be ready to exploit the opportunities of the ‘new normal’ after the Covid-19 pandemic.



1. Developing Capacity of MFIs for Fighting Covid-19 Impact in Bangladesh

2. Covid-19 and MFIs in Bangladesh: Innovations in Resilience Building
3. Baseline Study of the Project- Scaling WaterCredit in Bangladesh

4. Improving Fiscal Decentralisation for Local Government Institutions

5. Transforming the Agri-food Sector towards a Modern, Sustainable Advanced Economy: Looking Beyond 2030 Towards Achieving Bangladesh’s Vision 2041

6. Bangladesh Voluntary National Review (VNR) 2020: Fostering Inclusiveness for Shared Prosperity

7. Sustainable Development Goals: Bangladesh Progress Report 2020

8. Leaving No One Behind: Implementation Context of SDGs in Bangladesh      Explore

Virtual meeting with IMF’s Bangladesh team
As part of the 2020 Annual Staff Visit programme, the International Monetary Fund’s (IMF) Bangladesh Team held a virtual discussion with InM on 06 December 2020. The joint discussion was attended by InM, PKSF and SME Foundation, From InM, Executive Director Dr. Mustafa K. Mujeri and Dr. Farhana Nargis, Research Fellow attended the meeting; while Mr. Mohammad Moinuddin Abdullah, Managing Director, Mr. Md. Fazlul Kader, Deputy Managing Director, Read More



Qard-al-hassan as a tool for poverty Alleviation: a case study of the fael khair waqf Program in Bangladesh Click here

Analysis of Dropout Behaviour among Borrowers of Microfinance Sector in Bangladesh Click Here

Microfinance in South Asia: Issues and Challenges during Covid-19 Crisis Click Here

An Analysis of Mobile Financial Services and Financial Inclusion in Bangladesh Click Here



InM ensure open and transparent access to primary dataset of InM for social scientists, educators, researchers, microfinance institutions (MFIs) and research institutions. Recipients of samples and data incur obligations on their use and reporting of the research outcomes from research based on these samples or data. The use of all cores and samples are under the auspices of the InM Data Management Committee (IDMC). following link



Online Training for Town Managers of LIUPCP/UNDP 
An ‘Online Advanced Training on Handling the Post COVID Challenges in Micro-Enterprise Management’ was designed and implemented by InM during 29-30 November 2020. Read More

Newly Designed Online Training Course for the Branch Managers of PADAKHEP

To cope up with the setback concerning realisation and disbursement due to Covid-19 pandemic coupled with the devastating flood in July 2020, Read More

Online Training for the Senior Microfinance Professionals of SETU

This online training to identify the challenges and suggest   practical options for developing required skills of MFIs’ operational staff on ‘Building Skills of Managers on Post Covid Microfinance Operations and Management’ on 21 November 2020 was attended by 20 participants of SETU from Kushtia.  

Training and Capacity Development Online training on post Covid-19 challenges for LIUPCP/UNDP professionals

An online training programme on ‘Handling the Post COVID Challenges in Microenterprise Management’ was organised by InM during 27-29 October Read More

International Training on Prevention of Financial Crime in the Financial Sector
, jointly with Banking Finance and Insurance Institute of Nepal (BFIN), organised an international training course on “Prevention of Financial Crime in the Financial Sector”  Read More

PKSF Partner Organisations (POs) Training

PKSF, an apex development organisation, has been assisting its POs to strengthen their capabilities in different areas based on the field assessment. Read More

International Training Course on “Prevention of Financial Crime in the Financial Sector”- for the Banking Professionals of Nepal.

 InM, jointly with Banking Finance and Insurance Institute of Nepal (BFIN), organised an international training course on “Prevention of Financial Crime in the Financial Sector” Read More

Training Course on “Interest-free Microfinance Operations and Financial Management” for Private Sector.

InM has designed and implemented a new training course for Branch Managers titled “Interest-free Read More

Online Training for Microfinance Professionals with Special focus on COVID Context

 Due to Covid-19 pandemic and several rounds of seasonal floods in the country, the NGO-MFIs are facing unprecedented challenges in conducting their regular operations. Read More

Online Training for Senior Officials of LIUPCP/UNDP

 An online training programme on ‘Handling the Post COVID Challenges in Micro-Enterprise Management’ Read More


Diploma certificates awarded to 10th batch 

InM Diploma in Microfinance Programme certificates were awarded to the successful participants of the 10th batch of the programme during 8-10 December 2020. These were distributed in person from InM Training Centre due to Covid-19. 



Webinar on Covid-19 Impact on the Rural Poor and MFIs
InM and Concern Worldwide, under the FIN-B umbrella, organised a webinar on “Covid-19 Impact on the Rural Poor and MFIs: Innovations in Resilience Building” focusing on the nature and level of impact of Covid-19 on the rural poor households and the microfinance sector of Bangladesh. The webinar was held on 5 November 2020. Read More


FIN-B Member’s Training Workshop on Mental Health and Professional Productivity
The Financial Inclusion Network, Bangladesh (FIN-B), an initiative of the Institute for Inclusive Finance and Development (InM), organised a workshop on ‘Mental Health and Professional Productivity’ in collaboration with Life-spring Consultancy Ltd. and KK Foundation on 25 February 2020. The workshop discussed the mental health issues that directly affect productivity in the work-life and on the ways of attaining a good work-life balance. InM Chairman Dr. Qazi Kholiquzzaman Ahmad and Executive Director Dr. Mustafa K. Mujeri attended the workshop along with the participants including Executive Directors of FIN-B member organisations, doctors, bankers, psychologists and development practitioners.




Bangladesh at Fifty: Moving beyond Development Traps

Mustafa K. Mujeri and Neaz Mujeri
Palgrave Macmillan, London, November 2020, pp. 569 + xxi
The book, published under the Palgrave Studies in Economic History, examines the unfolding of Bangladesh’s development drama over the past fifty years, which is full of development surprises and extraordinary resilience of the people. Rising from the ashes, the country has now emerged as one of Asia’s most remarkable phoenixes and amasing and unexpected success stories of recent years. The book argues that Bangladesh’s economic transformation over the last fifty years has largely been driven by social changes, initiated by women empowerment. Bangladesh’s agricultural modernisation model characterises the sequencing of chemicalisation and mechanisation. The pattern of industrialisation has been closely linked with urbanisation and the developments are more akin to the ‘production cities’ paradigm in contrast with the ‘consumption cities’ approach. The authors caution that it is true that Bangladesh has shown remarkable catching-up records in recent years through raising economic growth and fostering overall development, but many development traps still remain in its future journey.

Strategies and Policies for an Upper Middle Income Bangladesh

Fourth BEF Conference Volume
Edited by Sadiq Ahmed and Mustafa K. Mujeri
Bangladesh Economists’ Forum, Dhaka, March 2020, pp. 334+ xviii
The book focuses on a few core development challenges under two themes-- macroeconomic strategies and policies, and institutions and sectoral strategies--for successfully transforming Bangladesh to an upper middle-income country by 2031. Bangladesh faces many policy and institutional reform challenges in its journey. The book highlights that, along with acceleration in investment for sustained long-run economic growth, commensurate progress is needed in building human capital, investment in R&D, technology and innovation, and development of institutions to support higher growth. Bangladesh must push forward rapidly with the policy and institutional reform challenges for securing its transition.

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Institute for Inclusive Finance and Development (InM)

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The Institute for Inclusive Finance and Development (InM) is registered as an independent non-profit institution under the Societies Registration Act 1860.
The Institute works for developing the overall capacity of the financial sector and strengthening the links between the financial and real sectors through undertaking research, training, education, knowledge management and other programmes in priority areas including inclusive finance, microfinance, poverty and development.

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