Analyzing the role of BRAC Bank PLC in promoting economic empowerment and financial inclusion (FI) among low-income individuals

Abstract

BRAC Bank PLC in Bangladesh has been actively promoting economic empowerment and Financial Inclusion (FI) among low-income individuals and it is considered as one of the leading banks in the country. The programs implemented by the financial institution target SMEs owned mainly by women as well as rural households in Agri-based ventures and they offer micro-credit services including small credit facilities. Furthermore, it has joined hands with BRAC, an NGO, among others in order to support business establishment or expansion hence enhancing the quality of life for many people. Meanwhile, BBPLC has employed mobile banking like bKash for enhancing Financial Inclusion allowing the unbanked individuals in remote areas to gain access to bank services. In the same spirit, the bank too has been involved in extensive financial literacy campaigns that seek to teach skills and information for effective financial choices among the low-income populace.