City Bank, IPA launch research on electronic wage payment

City Bank Limited and Innovations for Poverty Actions (IPA) in partnership with the Development Economics Research Group of the World Bank have launched a research project 'The real effect of electronic wage payments: A field experiment with salaried factory workers in Bangladesh'.
The inaugural programme was held at The Westin recently. This research project is focusing on the behavioural change that access to financial institutions and systems like banks, ATM services will bring on the ready-made garments industry workers.
Sohail R. K. Hussain, Managing Director & CEO, City Bank formally inaugurated the programme. He explained why City Bank felt it is important to partner with World Bank in this research on alternate payment methods for garment factory workers.
As part of this project, City Bank has opened up accounts for RMG workers in cooperation with garment factory management and installed ATMs at the factory site with no charges to any of the services provided to the workers.
A research presentation was shared during the programme led by Dr. Leora Klapper & Dr. Martin Kanz of the Development Economics Research Group of the World Bank and Dr. Emily Breza of Columbia University, USA.
DMD & CCO Mashrur Arefin briefed the press about the project.
Among others Shoraez Shahjahan, Country Director of Innovations for Poverty Actions (IPA), senior officials of City Bank and representatives of several donor agencies also graced the programme.