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News & Stories | Stories | 23 May, 2023

Shakti-bKash Collaborate to Advance Women’s Digital Financial Inclusion

In a revolutionary move by Shakti Foundation and bKash Limited, on-the-ground Shakti microfinance officers have been authorized to provide more than 400,000 low-income women in 55 districts nationwide access to immediate, doorstop financial services. Alongside availing cashless and costless loan disbursement, installment repayment, and savings deposit through their digital wallets, Shakti clients can now access other services such as bill payment, mobile recharge, education fees, merchant payments, salary disbursement, safety-net stipends and remittance from the comfort and security of their own homes.

The pilot phase of this ground-breaking initiative in currently ongoing in Laxmipur, Noakhali to understand the field and market dimensions, as well as identify areas that will benefit from the Shakti-bKash collaboration. 1,298 field staff will undergo three rigorous rounds of Agent Training with Phase 1 and Phase 2 rollouts commencing in June 2023 and July 2023 respectively.  Additionally, all of Shakti’s Touchpoints, including it’s 504 branches, will become bKash Centers. This low-cost, innovative solution strives to address the gender gap in digital financial inclusion and create easier access to financial services in rural economies.