Inclusive
banking is an attempt aimed at taking the banking services to customers who
hitherto did not benefit from banking system as a whole and were dependent on
non-banking and non-formal financing options. In other words, inclusive banking means helping
those who are excluded from the financial system to join and benefit from it. In
this case banks are dedicated accounts for people on low incomes across several
areas of the country.
In Bangladesh,
government’s programs and policies seek to accelerate inclusive economic
growth, focusing public expenditure outlays in developing the social and
physical infrastructure, crowding in private investments in output activities.
The government’s inclusive growth efforts are being supported by Bangladesh
Bank’s (BB’s) financial inclusion drive engaging banks in reaching out with
credit and other financial services to productive pursuits in under-served
areas like small landholder/tenant farming, SMEs, renewable energy and other
environmentally benign ventures. To facilitate cost effective reach out by
banks to these newer client segments, branch based financial service delivery
is being supplemented by mobile phone/smart card based remote delivery, as also
by on-lending /co-financing partnerships of banks with locally active regulated
Micro Finance Institutions (MFIs).
