Under the Comprehensive Rural Finance Study (CRFS), which is being implemented by InM with support from the Bangladesh Bank, an important component is to conduct institution level analysis for the financial sector institutions. The objective of the analysis is to solicit the experience and lessons learned by all relevant financial sector institutions who are involved in designing and delivery of financial products and services (e.g. savings, credit, insurance, mobile financial services, agent banking etc.). The issues under review also cover their limitations in reaching the target groups as seen by the providers, and their views on how to develop appropriate, user-friendly and sustainable financial products and services for the excluded and under-served rural population groups and enterprises.
Under the component, InM organised a series of consultation meetings during March 2024 with relevant financial institutions including Bangladesh Bank, IDRA, MRA, BTRC, banks/NBFIs, fintechs, PKSF, MFIs, insurance companies and associations, BPO, SME Foundation, trade bodies and associations, SDF, FID of the Ministry of Finance and other agencies to identify policy, regulatory and other relevant issues related to designing and delivery channels of financial services for the excluded/underserved groups in the rural areas. Glimpses of these consultation meetings are being shared in this report while the main reports are being prepared for Bangladesh Bank and other stakeholders.
On 7 March 2024, the Consultation Meeting was organised with representatives from leading state owned commercial banks and specialised banks at the Bangladesh Investment Development Authority (BIDA) Conference Room. The participants included, among others, Mr. Md. Lutful kabir, Assistant General Manager, Sonali Bank PLC; Mr. Md. Mannan Hossain, Deputy General Manager, Bangladesh Development Bank Limited (BDBL); Mr. Khan Ikbal Hasan, Deputy Managing Director, Palli Sanchay Bank; Mr. Md. Abdul Motin, General Manager, Janata Bank PLC; Mr. Showkot Shohidul Islam, Deputy General Manager, Rajshahi Krishi Unnayan Bank; Mr. ASM Nasimul Islam, Director; Bangladesh Post Office; Mr. Md. Ujir Hossain Mollah, Assistant General Manager, Agrani Bank PLC; and Mr. Mohammad Shariful Islam, Assistant General Manager, Bangladesh Krishi Bank. The session was conducted by Professor Md. Nehal Ahmed from BIBM while Dr. Farhana Nargis, Research Fellow, InM coordinated the session.
The consultation meeting on 10 March 2024 at Bangladesh Investment Development Authority (BIDA) Conference Room was attended by representatives from private commercial banks, Islami banks, non-banking financial institutions, digital banks, and Fintech companies. The participants included: Mr. Md. Arfan Ali, Chairman, Zaytoon; Md. Forhad Julfikar, Vice President, iFarmer; Mr. Mrinal Kanti Joarder, First Assistant Vice President, United Commercial Bank PLC; Mr. S.M. Rajoan, Head of CMSME & Agri Products, IFIC Bank; Mr. A.S.M. Rezaul Karim, Senior Executive Vice President, Islami Bank Bangladesh PLC; Most. Rozina Bilkis, FAVP, First Security Islami Bank PLC; Mr. Syed Abdul Momen, DMD, BRAC Bank PLC.; Mr Kamrul Mehedi, Head of Small & Microfinance, City Bank PLC; Mr. Bashirul Islam, Assistant Vice President, Trust Bank Limited; Md. Sabbir Ali, Executive Officer, Al-Arafah Islami Bank PLC, Major General Sheikh Md Monirul Islam (retd), Chief External & Corporate Affairs Officer, bKash Limited; and Mr. Md. Ferdous Hossain Polash, Vice-President, DBH Finance PLC. The session was conducted by Professor Md. Nehal Ahmed of BIBM while Dr. Farhana Nargis, Research Fellow, InM coordinated the session.
The consultation meeting on 14 March 2024 at Bangladesh Investment Development Authority (BIDA) Conference Room was organised with representatives from NGO-MFIs and insurance companies. The participants included: Mr. Md. Abdus Samad, Executive Vice President, ASA; Mr. M. Shazzadul Karim, Deputy Managing Director, Pragati Life Insurance Ltd; Ms. Tasnim Islam Sneha, Programme Organiser, IDF; Mr. Md. Mahbubul Hasan, Deputy Director, TMSS; Mr. Mohammad Anwar Hossain , Manager Research and Insights, BRAC; Mr. Mustak Hossain, Executive Vice President & Head of Governance Relations, Metlife; Mr. Md. Emrul Kayes, Assistant General Manager, Grameen Bank; Mr. Fazlul Faruk, Manager, Jiban Bima Corporation; Mr. Md. Saleh bin Sums, Executive Director, Padakhep; Ms. Apu Sarkar, AGM, Shakti Foundation; and Mr. M. Khairul Islam, Executive Consultant, TMSS. The meeting started with introductory remarks by Dr. Mustafa K. Mujeri, Executive Director of InM welcoming the participants and explaining the purpose of the meeting. He expressed deep appreciation to the participants on behalf of InM for active cooperation and for attending the meeting. The session was conducted by Professor Md. Nehal Ahmed from BIBM while Dr. Farhana Nargis, Research Fellow, InM coordinated the session.
The consultation meeting on 19 March 2024 at Bangladesh Investment Development Authority (BIDA) Conference Room was attended by representatives from PKSF, BIBM, BARD, SDF, Cooperatives and Center for Zakat Management. The participants included: Mr. Md. Ashraful Haque, Deputy General Manager, PKSF; Mr. Ranjan Kumar Guha, Director, BARD; Mr. Md. Mahbubul Alam, Director SDF; Mr. Shahriar Kabir, General Manager, Center for Zakat Management; Dr. Md. Mosharref Hossain, Associate Professor, BIBM; and Md. Quamruzzaman, Joint Registrar, Department of Cooperatives. The meeting started with introductory remarks by Dr. Mustafa K. Mujeri, Executive Director of InM welcoming the participants and explaining the purpose of the meeting. The session was conducted by Professor Md. Nehal Ahmed from BIBM while Dr. Farhana Nargis, Research Fellow, InM coordinated the session.
The fifth meeting in the series on 28 March 2024 at Bangladesh Investment Development Authority (BIDA) Conference Room was attended by representatives from the regulatory authorities and SME Foundation. The participants were: Dr. Syed Nazrul Islam, Additional Director, Bangladesh Bank; Mr. Hafiz Mohammed Harunur Rasid, Additional Director, Bangladesh Securities and Exchange Commission; Mr. Md. Abu Mahmud, Assistant Director, Insurance Development and Regulatory Authority; Mr. Md Nazeem Hassan Satter, General Manager, SME Foundation; and Mr. Muhammad Shahidul Islam, Director, Microcredit Regulatory Authority. The meeting started with introductory remarks by Dr. Mustafa K. Mujeri, Executive Director of InM welcoming the participants and explaining the purpose of the meeting. The session was conducted by Professor Md. Nehal Ahmed from BIBM while Dr. Farhana Nargis, Research Fellow, InM coordinated the session.
