7 lakh members of 6 more MFIs to avail hassle-free transactions thru bKash

In order to use bKash’s installment payment services for their loan and savings plans, six more prominent microfinance institutions (MFIs) have signed agreements.

By following a few easy steps, the 7 lakh members of these MFIs can pay their installments via the bKash app’s handy, quick, and secure “Microfinance” payment option.

In this regard, bKash has signed agreements with People’s Oriented Program Implementation (POPI), Society for Development Initiatives (SDI), Grameen Jano Unnayan Sangstha (GJUS), Integrated Development Foundation (IDF), Nabolok Parishad and Modern Development Organization (MDO), said a press release.
 
Nearly 15 million members of 25 MFIs can now conveniently pay their loan payments and deposit savings thanks to these innovations.

At a hotel in the capital, Ali Ahmmed, the Chief Commercial Officer of bKash, recently signed individual contracts with the leaders of these companies.

At the signing ceremony were representatives from the following organizations: Md. Altaf Hossain, Deputy Executive Director (F&C) of Nabolok Parishad; Md. Masud Ahmed Rokoni, Executive Director of Modern Development Organization; Shamsul Haque, Executive Director of Society for Development Initiatives; Zakir Hossain Mohin, Executive Director of Grameen Jano Unnayan Sangstha; Zahirul Alam, Executive Director of Integrated Development Foundation; Md. Moshihur Rahman, Director-EES of People’s Oriented Program Implementation; and M. Monjur Mahmud, President of DataSoft.

The release said bKash has brought this user-friendly solution to simplify and digitise the payment collection process of the microfinance sector.

In addition to providing members with a safe and easy way to make payments, this technology helps MFIs manage their finances more effectively by saving time and money.

Bangladesh’s economy has benefited greatly from microfinance, especially in the areas of poverty alleviation, job creation, disaster relief, small and medium-sized businesses, family health, education, and improved livelihoods, among many other areas.