National Conference on Financial Inclusion of Vulnerable Segment in Bangladesh

Updated on 21/09/2017 - By InM - No Comments

National Conference on Financial Inclusion of Vulnerable Segment in Bangladesh

Policy advocacy through disseminating research findings

The Institute for Inclusive Finance and Development (InM) organised a National Conference on ‘Financial Inclusion of Vulnerable Segment in Bangladesh’ on 20 September 2017 at 10 am at the PKSF Auditorium in Dhaka with support from the Japan International Cooperation Agency (JICA). The Seminar was aimed to support national policy discussion on financial inclusion through disseminating research findings undertaken by InM.

The conference was inaugurated by the Chief Guest, Dr. Mashiur Rahman, Economic Affairs Adviser to the Prime Minister of the People’s Republic of Bangladesh. Mr. Md. Abdul Karim, Managing Director, PKSF and Professor Tsuji Kazuto, Visiting Senior Adviser were present as the Special Guests.

Dr. Mustafa K Mujeri, Executive Director, InM chaired the session and welcomed the participants to the event and explained the main issues for discussion in the conference.

During the Inaugural Session, Hon’ble Chief Guest Dr. Mashiur Rahman underscored the need for developing a range of appropriate instruments for enhancing crisis-coping capacities of different poor groups in the coastal region as well as in other locations such that they could face different episodes of recurrent natural calamities successfully. He applauded the efforts of InM to address the vulnerabilities in the lives of these disadvantaged population groups residing in hard-to-reach locations of the country. He lauded the role of InM, a prominent research, training and knowledge management institution, for its pioneering work in the field of finance, poverty and development and for actively promoting financial empowerment and inclusion agenda in the country.

The seminar was divided into three sessions covering three key areas: Designing Appropriate Financial Products for Climate Vulnerable People; Financial Empowerment for Vulnerable Working Street Children/youth; and Developing and Implementing Inclusive Insurance in Bangladesh.

  1. Designing Appropriate Financial Products for Climate Vulnerable People

The study addresses issues of financial inclusion for disaster and climate resilient households and communities in Bangladesh. It examines the line-up, situations, impacts, and issues of existing financial services for disaster and climate resilient households and communities and suggests what improvements are needed in services and delivery of services, institutional mechanisms and regulatory frameworks at community and other levels. It also comes up with the operational design of an action research that can be tested in the country’s coastal region.

Mr. Mehadi Hasan, Senior Research Associate, InM; Professor M. A. Baqui Khalily, Former Professor, Department of Finance, University of Dhaka; and Dr. Mizanur Rahman, Professor of Accounting and Public Policy presented the paper on behalf of InM. Dr. Md. Jashim Uddin, Deputy Managing Director, PKSF was present as a discussant. Dr. Mustafa K Mujeri, Executive Director, InM chaired the session.

  1. Financial Empowerment for Vulnerable Working Street Children and Youth

 The study covers financial empowerment for vulnerable street and working children and youth. The study examines major aspects relating to financial empowerment and inclusion of vulnerable street children and youth in the country. Further, the study examines the current status in terms of situations, impacts, and issues of existing financial services for working street children and suggests financial packages that could meet the demands and needs of different groups of street children and youth.

Dr. Farhana Nargis and Ms. Farah Muneer, Senior Research Associates, InM presented the paper and Mr. Golam Mahiuddin, Joint Director, Financial Inclusion Department, Bangladesh Bank provided useful insights as a discussant.

  1. Implementing Inclusive Insurance in Bangladesh

The research was on developing and implementing inclusive insurance in Bangladesh. The core objective has been to identify and estimate important parameters for developing inclusive microinsurance products, and design their implementation modalities. The research specifically focuses on two microinsurance products: micro health insurance and property micro-insurance.  The study identifies the parameters and addresses related issues for constructing mortality/morbidity tables and actuarial database for micro health insurance. It also reviews existing practice of reinsurance arrangements, and suggests approaches to reinsurance of microinsurance risks.

Ms. Nahid Akhter, Senior Research Associate, InM; Dr. Syed Abdul Hamid, Professor and Director, Institute of Health Economics, University of Dhaka; and Dr. Shubhasish Barua, Assistant Professor, Department of Development Studies, University of Dhaka presented the research on behalf of InM. Mr. Fazlul Kader, Deputy Managing Director, PKSF, while discussing the paper, provided some useful observations. The session was chaired by Mr. Gokul C Das, Member, Insurance Development and Regulatory Authority (IDRA), Bangladesh.

The seminar was widely attended by policy makers, regulators, and representatives from banks and MFIs, academicians and other practitioners of financial inclusion. 

 

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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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