Bangladeshi MFIs need to reinvent themselves for women: Why digitizing MFI operations is a good idea

• by Akhand Tiwari, Rahul Chatterjee and Ravi Kant
• Aug 26, 2019
• 1 min
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We explore the importance of digitization for MFIs and the impact of microfinance in empowering women in Bangladesh through our concept of “Financial Services Space”.

Part of our Low Income Lives series, this blog explores the importance of digitization for MFIs and the impact of microfinance towards the empowerment of women in Bangladesh. We analyzed the use of DFS by women and its challenges through case studies to discover how it can accelerate their financial inclusion and empowerment. The current MFS regulations by the Bangladesh Bank forbid providers from launching any savings and credit-based products through MFS wallets. However, MSC hypothesizes that partnerships with MFIs and banks may enable MFS providers to introduce such products in the near future.