Financial Innovation Lab Bangladesh (FinLab BD) was launched Sunday to serve the low and moderate-income segments of Bangladesh by advancing sustainable pro-poor growth.
The Access to Information office of the government (a2i), the UN Capital Development Fund (UNCDF) and MicroSaveConsulting (MSC) have launched the FinLab BD jointly, according to a media statement.
State Minister for ICT Division Zunaid Ahmed Palak inaugurated the FinLab BD as the chief guest.
Bangladesh Bank Deputy Governor Ahmed Jamal, a2i Policy Adviser Anir Chowdhury and UNCDF Regional Coordinator for Asia Maria Perdomo attended the event.
Speaking at the event, Zunaid Ahmed Palak said that promoting digital financial inclusion is the core pillar of building a digital Bangladesh. The government is working to create a common platform interoperable digital transition platform for digital financial transactions.
“This increases penetration of the online population alongside bringing integrity in public service delivery,” he said.
In this connection, he mentioned that the government is now providing social safety net allowance to beneficiaries through mobile financial services.
For this purpose, millions of MFS accounts were also created for these beneficiaries, bringing them one step closer to financial inclusion, he added.
“The youth, the entrepreneurs and startups in Bangladesh have the potential to resolve problems and create a positive social impact. All they need is support, guidance, funding and mentoring in the correct direction. For this purpose, FinLab Bangladesh will enhance financial inclusion through technology and a digital-first approach to help us reach our goals even faster.”
He said that the collaboration will be crucial for the success of the lab. As startups, industry experts, financial service providers, regulators, investors, and donors come together, we can collectively contribute to realising the vision of the financially included digital Bangladesh.