Speakers at consulting event recommended that innovation in financial products can contribute significantly to enhance people’s resilience.
They have stressed identification of critical areas that need more focus now beyond access, which will be the next focus for the industry, such as digital credit, insurance, transformation, protection, and privacy.
MetLife Foundation and MSC (MicroSave Consulting) along with its partner UNCDF hosted the i3 (innovate, implement, impact) global learning event on “Innovation in financial products to enhance people’s resilience” in Dhaka, Bangladesh recently. The learning event also explored practical lessons around financial resilience and security in four markets: Malaysia, China, Vietnam, and Bangladesh.
The event intended to help steer a shift in approach from financial inclusion to financial health with a focus on innovative products among practitioners, providers, donors, and regulators. The event offered participants representing regulators, government officials, practitioners, and think tanks key insights.
Some of the major outcomes of the event are: the i3 program’s impact in increasing awareness and helping improve financial health; lessons from the ecosystem to innovate, evolve, and build the financial resilience of LMI segments; and identification of critical areas that need more focus now beyond access, which will be the next focus for the industry, such as digital credit, insurance, transformation, protection, and privacy.
More than 80 industry experts attended this international event with participants from Malaysia and Vietnam. Md. Mezbaul Haque, Executive Director, Bangladesh Bank, graced this occasion as the Chief Guest. Other special guests included Anir Chowdhury, Policy Advisor, a2i, Ala Ahmad, CEO, MetLife Bangladesh, Selim R F Hussain, MD & CEO, BRAC Bank, Nasima Aktar Nisha, President WE, and Joint Secretary, e-Cab, Viet Linh Vuong, CEO and Founder, VIFO and Mandy Nguyen, Startup Vietnam Foundation.
Anil K Gupta, Partner MSC, moderated a panel discussion with an esteemed group of industry experts comprising and Shah Zia-Ul Haque, Assistant Director, Bangladesh Bank, Imran Ahmed of Shakti Foundation, Minh Trang Tran of WISE Vietnam, Nadia Ismadi of POD Malaysia and Imanun Nabi Khan of FAO Bangladesh.
Speaking at the event, Md. Mezbaul Haque, Executive Director, Bangladesh Bank said, “We have found that we have more SIM users than bank account holders, so we started thinking if we can make some kind of matchmaking between these two and the idea of mobile financial services came. We see within no time how MFS has hit the momentum. ”
Ala Ahmad, CEO, MetLife Bangladesh commented,” MetLife Foundation sponsored projects in Bangladesh are advancing economic inclusion, financial health, and resilient communities. Sustainability is central to our business strategy, and we are committed towards the betterment of the economy, and the people of Bangladesh.”
