The Bill & Melinda Gates Foundation has granted BRAC Bank to advance digitalization in banking for cottage micro and small enterprises (CMSEs) and women in Bangladesh. As a leader in digital financial inclusion, BRAC Bank has introduced the ‘Astha’ digital banking app and ‘Shafollo’ smart financing processing system.
The grant aims to boost financial inclusion in Bangladesh, aligning with BRAC Bank’s commitment to its founder’s legacy. The initiative focuses on providing CMSEs with digital lending solutions and empowering marginalized women with formal banking products through agent banking and capacity development programs. BRAC Bank plans to utilize the grant to expand inclusive initiatives, reaching grassroots levels and shaping the country’s digital financial inclusion landscape. The bank emphasizes the goal of empowering micro-entrepreneurs and women through international collaboration.
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