Experts at an event observed that the agent banking is playing an important role in driving financial inclusion, especially for women, with 23% of the total of 3.58 lakh Agent Banking account holders being female.
The remarks came at the national conference of agent banking, orgnaised by BRAC Bank.
BRAC Bank’s Agent Banking Channel has completed five years of its journey, achieving several business milestones and playing an essential role in the financial inclusion of unbanked people.
Within this years, the bank has become first in loan disbursement, fourth in the numbers of Agents and outlets and sixth in the deposit portfolio.
A staggering BDT 12,500 crore SME loans have been disbursed through the bank’s Agent Banking Outlets, which constitutes 63% of the total of loans disbursed through the Agent Banking channel in the entire banking industry.
In a rapid nationwide expansion, the bank’s Agent Banking has reached all 64 districts with 1,040 AB Outlets, with 79% of the outlets located in rural areas.
Agent Banking is also playing an important role in driving financial inclusion, especially for women, with 23% of the total of 3.58 lakh Agent Banking account holders being female.
More than 70 female entrepreneurs work as agent partners and 600 as Agent Field Officers (AFO). Apart from employment generation, Agent Banking is driving financial literacy in rural Bangladesh, with more than 40,000 people participating in ‘UthanBoithok’.
To celebrate the auspicious occasion, BRAC Bank organized its first National Conference of Agent Banking recently to formulate a strategy and roadmap as the bank moves forward with the rapid network expansion drive of the alternate banking channel across the country.
M Masud Rana FCA, DMD and Chief Financial Officer; Md. Sabbir Hossain, DMD and Chief Operating Officer; Chowdhury Moinul Islam, DMD and CAMLCO; Nazmur Rahim, Head of Alternate Banking Channels; Md. Nazmul Hasan, Head of Agent Banking, and the entire team of Agent Banking from across the country attended the conference.
