LISTEN NOW: Update on DFS Landscape in Jordan and Bangladesh

Chaired by DFI’s CEO, Gavin Krugel, this webinar visits two countries featured in DFI courses, Jordan and Bangladesh, and update on progress made. Chris Statham presented on the DFS Landscape of Jordan and MD Rashed on financial inclusion and OTC payments in Bangladesh. Both Chris and Rashed are in DFI’s first batch of CDFP graduates.

Some of the areas Chris touches on in the landscape of Jordan includes:

• Central Bank strategy and National Financial Inclusion Strategy
• Low levels of financial inclusion and large gender gap
• Similar to Indian model, connected National Payment System
• JoMoPay – mobile payments, owned by Government
• Challenges include a weak agent network and small margins for PSPs

Chris also discusses his paper on mandating of basic bank accounts by the Central Bank to commercial banks will usher in strategic partnerships between banks, microfinance institutions and payment service providers. Chris’ paper can be downloaded here.

Rashed provides an overview of Bangladesh, which has a population of over 160 million, GDP growth rate is 8% and it is one of the fastest growing economies in the world. It has a good number of microfinance institutions serving 30 million customers, a regular savings culture, 10 million bank accounts were created through digitalisation of Government subsidies, and a National Financial Inclusion Strategy has been published. The Central Bank are supporting financial inclusion through changes to regulation such as allowing banks can partner with other organisations to offer mobile financial services and issuing PSP licences to non-banks. 67 million have a mobile money account with an average transaction value of $19. Account usage is driven by OTC and extensive agent networks.

Different dynamics and financial inclusion targets exist in the markets between Jordan and Bangladesh and the webinar showcases different strategies being taken to increase financial inclusion.

Our presenters:

Chris Statham – Consultant in Microfinance and Digital Financial Services

MD Rashed – Joint Director at Bangladesh Financial Intelligence Unit