Press Release: SAJIDA Foundation partners with bKash to increase access to financial services for women using digital technology
DHAKA, BANGLADESH: SAJIDA Foundation, a non-governmental organization (NGO) providing microfinance services to poor and low income people in Bangladesh, and bKash Limited, a leading Mobile Financial Service (MFS) provider in the world, launched a new MFS-based microfinance initiative.
This initiative will allow SAJIDA to disburse loans directly into the bKash accounts of SAJIDA clients. In addition, members of the NGO, from across 16 districts, can also make loan repayments and deposit savings with SAJIDA Foundation through their bKash accounts. The combination of mature, dynamic microfinance institutions and availability of affordable and accessible digital financial services makes Bangladesh a fitting testing ground for digitized microfinance.
Launched in July 2011, bKash is one the largest mobile financial service providers in the world with over 22 million accounts. Awareness of bKash is ubiquitous among the clients of SAJIDA Foundation’s pilot branches, and more than half of clients surveyed have used bKash services.
“Convenience for our members was a big factor in our decision to look into servicing loans through bKash,” said Zahida Fizza Kabir, Executive Director of SAJIDA Foundation.