BB refinancing fund for financial inclusion extended

MasterCard Tuesday announced the second phase of its business literacy programme with BURO Bangladesh and NRB Global Bank to provide financial & business literacy to 10,000 Tk 10 account-holders.

This programme will support the Bangladesh Bank Revolving Refinancing Fund for financial inclusion, offering training to ensure effective use of the microfinance loans.

MasterCard launched the first phase of the business literacy program in 2013 to mark the opening of their first office in Bangladesh. In association with BURO Bangladesh, over 100,000 women entrepreneurs have received financial literacy training and business skills.

With a growing middle class, access to information technology and the development of e-commerce in the country, the people of Bangladesh have the tools to fight poverty and unemployment by creating their own businesses. The MasterCard and BURO Bangladesh program aims to educate these communities on how to succeed in business and manage personal and business assets.

The announcement was made at a press conference in the presence of the Chief Guest, Dr. Atiur Rahman, Governor, Bangladesh Bank, Vikas Varma, Executive Director, South Asia MasterCard, Zakir Hossain, Executive Director, BURO Bangladesh, Md. Abdul Quddus, Managing Director, NRB Global Bank  and Syed Mohammad Kamal, Country Manager, MasterCard Bangladesh.

Speaking on the occasion, Vikas Varma, Executive Director, South Asia, MasterCard said, "We are pleased to announce the launch of the second phase of our financial literacy program in Bangladesh, providing training for 10,000 Taka 10 account holders with BURO & NRB Global Bank. The training will provide participants with the knowledge and the skills to create their own opportunities and pursue their dreams. This will result in long-term benefits, not just for themselves, but also their families and society at large."