BRAC Bank has signed an agreement with World Vision Bangladesh for NoboJatra-II Project taking banking services and financial literacy activities to rural areas of Bangladesh.
The objective of this collaboration is to facilitate access to affordable and customer-focused financial services and products to Village Savings and Loans Associations (VSLAs), VSLA Cooperative, individual group members, and women and youth micro entrepreneurs in areas operating by World Vision Bangladesh.
The customers of World Vision Bangladesh will avail savings accounts, loan, digital financial services, and financial literacy from BRAC Bank’s SME Banking and Agent Banking Channel.
Samuel Suresh Kumar Bartlett, National Director, World Vision Bangladesh; and
Syed Abdul Momen, Deputy Managing Director and Head of SME Banking, BRAC Bank, signed the agreement on behalf of their respective organisations at World Vision Bangladesh Office in Dhaka on August 1, 2023.
BRAC Bank will design customer focused loan products targeting VSLA members, piloting a process of loan disbursement using federation of VSLA groups to individual group members, facilitate financial literacy training to target VSLA cooperatives and VSLA group’s members.
The bank will ensure availability of affordable digital financial services by establishing agent banking model of BRAC Bank in WVB operational areas, facilitate community outreach and marketing campaigns to promote BRAC Bank products and services and expand loan access of the VSLA group members based on learning of the pilot in other VSLA cooperatives.
From BRAC Bank, Nazmur Rahim, Head of Alternate Banking Channels, Mohammad Jakirul Islam, Head of Strategic Alliances and DFS; Azizul Hoq, Head of Business Transformation and Product; and Tapos Kumar Roy, Head of MFI and Agriculture Finance, were present. World Vision Bangladesh was also represented by Arunava Saha, Deputy Director, ITPD; and Nahian Ahmed Shah, National Coordinator.
