More ready-made garment workers will receive their salary in their mobile wallets as three factories, Designer Fashion Limited, A&E Bangladesh and Tara Group have signed agreements with country's largest mobile financial service provider, bKash.
The documents were exchanged today at a local hotel by Kamal Quadir, Chief Executive Officer (CEO) of bKash; Mr. Jashim Uddin, Managing Director, Designer Fashion Limited; Angelo Leanage, Managing Director, A&E Bangladesh and from Tara Group- Md. Yeakub Ali, Head of Finance, Tara Spinning Limited and Md. Mushfequzzaman, DGM, Enayetpur Spinning Mills Limited.
Under these agreements, 12 thousand employees of these factories will get their wages through bKash.
At present, 180 RMG factories in the country are disbursing salary through bKash to more than 2 lac workers. Since this salary disbursement system through bKash is gaining much trust and popularity, more and more factories are enrolling into it, including these three leading ready-made garments exporters.
The conventional system of disbursing salary in cash to the workers has been very tiresome, expensive and complex till now. Moreover, on the day of salary disbursement, production is hampered and some effective man hour is also wasted. Therefore, a digital payment system like bKash has been adopted by many factory owners to address all these problems and make the overall payroll disbursement process easy, secure and transparent.
Moreover, the workers can use their bKash accounts’ money for various purposes immediately after receiving the salary, such as: sending money to other bKash accounts, buying airtime on mobile, paying different types of bills, making payment after purchasing products at shops, etc. Cash Out is also available from more than 2 lac bKash agent-points across the country. Even if workers want to have interests on their accounts, they surely can get it by saving money there.
bKash also creates awareness amongst the workers on secure utilization of mobile wallet and facilitates account registration campaigns within the factories.
In broader aspect, bKash considers its digital salary disbursement solution as a contributor to women empowerment of the majority female workers in RMG sector. The company is also enhancing financial inclusion of the unbanked population towards building a Digital Bangladesh.
Mizanur Rashid, Chief Commercial Officer (CCO), bKash Limited; Masrur Chowdhury, Head of Govt. Projects & Business Sales, Commercial, bKash Limited; Shanzoy Sarker, Deputy General Manager, Corporate Finance of Bengal Group of Industries; Jakir Hossain, Chief Financial Officer of A&E Bangladesh and other high officials of all parties were also present during the signing ceremony.
Launched in 2011, bKash, a joint venture of BRAC Bank, US based Money in Motion, International Finance Corporation, Bill and Melinda Gates Foundation and Ant Financial, operates as a payment service provider offering broad range of mobile/digital financial services under the regulation of Bangladesh Bank.