Seven lakh members of another six MFIs to avail hassle-free, secured transactions through bKash
Another six leading microfinance institutions (MFI) have signed agreements with bKash to provide themselves with installment payment services for their savings and loan schemes.
7 lakh members of these MFIs can pay their instalments through the convenient, fast and secured 'Microfinance' payment option in the bKash app following a few simple steps. In this regard, bKash has signed agreements with People's Oriented Program Implementation (POPI), Society for Development Initiatives (SDI), Grameen Jano Unnayan Sangstha (GJUS), Integrated Development Foundation (IDF), Nabolok Parishad and Modern Development Organization (MDO). With these additions, nearly 15 million members of 25 MFIs can quickly pay their loan instalments and save on deposits.
Recently, Ali Ahmmed, the Chief Commercial Officer of bKash, signed separate agreements with the Executives of these organisations in a hotel in the capital.
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On behalf of the organisations- Md Moshihur Rahman, Director-EES of People's Oriented Program Implementation; Shamsul Haque, Executive Director of Society for Development Initiatives; Zakir Hossain Mohin, Executive Director of Grameen Jano Unnayan Sangstha; Zahirul Alam, Executive Director of Integrated Development Foundation; Md Altaf Hossain, Deputy Executive Director (F&C) of Nabolok Parishad; Md. Masud Ahmed Rokoni, Executive Director of Modern Development Organization; M Monjur Mahmud, President of DataSoft; and other high officials from all the organisations attended the signing ceremony.
bKash has brought this user-friendly solution to simplify and digitise the microfinance sector's payment collection process. This solution ensures a convenient and secure payment option for members and also enables MFIs to manage their finances more efficiently by saving time and resources.
Microfinance has been making significant contributions to Bangladesh's economy, particularly in poverty reduction, employment generation, disaster management, small and medium enterprises, family health, education, better livelihood and many other areas.
