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S-Commerce: a Catalyst for Women’s Financial Inclusion in Bangladesh

The SME Finance Forum’s team had the privilege to attend a presentation on Social Commerce and Women's Financial Inclusion in Bangladesh organized by the Consultative Group to Assist the Poor (CGAP). Mr. Pia Islam, Managing Partner at pi STRATEGY, was invited to share his key insights on the booming social commerce (s-commerce) sector in Bangladesh. S-commerce entails businesses showcasing and selling their products and services through popular social media platforms. Mr.

United Commercial Bank Limited Joins 150 Other Financial Institutions to Promote SME Finance

Washington, D.C. December 11, 2018 – United Commercial Bank (UCB) Limited became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. 

BRAC Bank: SMEs Are Not Just Another Business Opportunity, They Are A Reason for Being

BRAC Bank was established in 2001 to help grow the vital, yet unbanked SME sector in Bangladesh. The bank’s reason for being is to serve SMEs; with 186 bank branches, 2,500 specialized SME staff and the provision of more than 60 percent of the collateral-free SME loans in Bangladesh, the bank is doing exactly that. 

The overall lending to SMEs by BRAC Bank reached 41 percent of the total loan book at the end of 2017, an increase from 34 percent just two years earlier.  

Member News: BRAC Bank Wins Award

SME Finance Forum member BRAC Bank won the “Most Innovative SME Bank” award from International Finance Publications Ltd. BRAC Bank’s head of SME banking, Syed Abdul Momen, formally received the award from Sunil Bhat, director, International Finance, at the International Finance Awards 2018, held at Grand Hyatt Erawan Hotel in Bangkok, Thailand on January 25.

Report: Pioneering Cashless Microfinance in Bangladesh

As part of the OPTIX project, funded by MetLife Foundation and run by BFA, SAJIDA in early 2017 started exploring options to improve operational efficiency and better serve its members. SAJIDA identified mobile money (MM) as a significant opportunity to cut costs and improve the customer experience thanks to ease of collecting loan payments and savings. Since December 2017, SAJIDA has offered MM as a new way for loan recipients to make repayments and save at an initial five branches that serve about 10,000 members. 

Financial Inclusion for SMEs is at the Core of the Economy's Potential

Financial inclusions is one of the largest challenges SMEs face today. In part two of Dhaka Tribune’s “At the Core of Our Potential” series, banker, Tarique Afzal sheds light on why this area is restricted for SMEs. 
 
·      Banks are more focused on urban-based lending
·      Banks are at times reluctant to delegate to rural branch levels 
·      Lack of interest among skilled bankers to relocate to rural areas
·      Uncertainties of the small industries due to lack of skills and knowledge of the borrower
·      Economic fluctuations 

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