Strengthening Social Resilience Programme: Development of NFIS Implementation and Action Plan and Resource Plan of Bangladesh

Financial inclusion has significant potential for improving the well-being of all citizens in society, especially for the participants in unserved and under-served financial markets who belong to the poor and marginalised groups, CMSMEs, small and marginal farm households, participants in informal sector activities, youth and women belonging to poor households, indigenous peoples, persons with disabilities, and other disadvantaged groups. The Government of Bangladesh (GOB) has adopted the National Financial Inclusion Strategy (NFIS, July 2021-June 2026) in 2021 as an effective tool to achieve the core objective to ‘increase the level of financial inclusion (having at least one regulated financial service account) of all adults to 100 per cent by June 2026’. This strategy has established its linkages with the long-term Perspective Plan of Bangladesh (2021-2041), medium-term 8th Five Year Plan (2021-2025) and other relevant national strategies and policies. The government’s priority to adopt the NFIS stems from a number of considerations, including the potential of financial inclusion to reduce poverty and inequality, and promote financial stability, inclusive development and shared prosperity. Under this ADB funded project, InM is developing the updated and detailed Implementation Plan including an Action Plan (July 2021 to June 2026) of NFIS. In addition, InM is preparing a detailed year-wise Resource Plan for NFIS which indicates the amount of additional financial resources that would be required to achieve the targets of NFIS. The analysis is being carried out in close collaboration with the NFIS Administrative Unit (NAU) of Bangladesh Bank and Financial Institutions Division of the Ministry of Finance and other relevant stakeholders.

Advisory Committee Meeting on ‘Comprehensive Rural Finance’ Study

The 1st meeting of the Advisory Committee of the “Comprehensive Rural Finance” study supported by Bangladesh Bank was held on 22 September 2022 at InM Conference Room in Dhaka. Dr. Qazi Kholiquzzaman Ahmad, Chairman of the Advisory Committee chaired the meeting. All Hon’ble Members of the Advisory Committee were present at the meeting comprising of Dr. Mustafa K. Mujeri, Executive Director, Institute for Inclusive Finance and Development (InM); Dr. Nazma Begum, Professor, Department of Economics, University of Dhaka; Dr. Ahmed Mushtaque Raza Chowdhury, Vice Chairperson, BRAC; Dr. Toufic Ahmad Choudhury, Director General, Bangladesh Academy for Securities Markets; and Mr. Helal Ahmed Chowdhury, Former MD & CEO, Pubali Bank Limited. The agenda of the meeting was to discuss about the progress of the study and work plan of first year. This study will undertake a comprehensive national household level field study/survey in the rural economy on the country’s rural financial system and will provide evidence based inputs for framing effective policies by the Bangladesh Bank for sustained and inclusive development in Bangladesh.

Your urgent attention please! 

This is for information of all concerned that the Office of the Institute for Inclusive Finance and Development (InM) is located at the following address with effect from 01 July 2022:

InM Office
8^th Floor
Chetona Tower
274/4 Monipur (60 Feet Road)
Mirpur -2, Dhaka-1216.

Telephone:+88-01729072881
Email: info@inm.org.bd

 All mobile numbers remain unchanged. Please contact InM at the new address.

We thank you profoundly for your kind support and attention.

InM signs Agreement with Bangladesh Bank

InM has signed an agreement with Bangladesh Bank (BB) for conducting a study on ‘Comprehensive Rural Finance’. The agreement was signed on 17 May 2022 at the Bangladesh Bank Head Office, Motijheel C/A, Dhaka.

Dr. Farhana Nargis, Research Fellow, InM and Mr. Md. Golam Mostafa, General Manager, Human Resources Department-1, BB signed the agreement on behalf of their respective organisations. Dr. Mustafa K Mujeri, Executive Director, InM; Mr. Md. Kazi Saidur Rahman, Deputy Governor, BB; Mr. Serajul Islam, Executive Director, BB; Dr. Md. Ezazul Islam, General Manager, Chief Economist’s Unit, BB; Dr. Md. Habibur Rahman, Chief Economist, BB; Mr. Mahbubur Rahman, Joint Director, BB; Mr. Md. Nahid Parvej, Deputy Director, BB; Mr. Shakil Ezaz, Deputy General Manager; Ms. Nahid Akhter, Senior Research Associate, InM and Mr. Farish Abdullah, Senior Assistant Director, InM were also present in the signing ceremony.

Mr. Md. Kazi Saidur Rahman, Deputy Governor, BB welcomed Dr. Mujeri and his team. He said that in order to accomplish the broader goal of providing credible research support for designing rural finance policies and institutional reorganisation by the Bangladesh Bank and other policy makers in support of the long-term policy agenda of the government for transforming Bangladesh to a high income country by 2041, this study will be a very timely and useful one.

Relocation of InM Office