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Bangladesh RMG aiming for digitized wage payment system

Bangladesh RMG sector – the second largest RMG exporter in the world – is adopting a digitized wage payment system through Mobile Financial Services (MFS).

BD RMG digitized wage payment system
Courtesy: UNB

On 25 June 2019, Rubana Huq, President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) informed these latest developments at a knowledge-sharing event on creating the business case of MFS-Based Wage Digitization in the RMG Sector organized by the International Finance Corporation (IFC) at a hotel in Dhaka.

“RMG workers will receive their wages under the digitized system. We’re going to sign a memorandum of understanding (MoU) with the ICT Ministry on June 27 to introduce mobile banking ‘E-wallet for RMG workers’,” Rubana Huq said.

She also informed that the aim of the digitizing the payment method is to fulfill the government’s goal to go for a ‘Cashless Bangladesh’.

RMG workers will receive their wages under the digitized system. We’re going to sign a memorandum of understanding (MoU) with the ICT Ministry on June 27 to introduce mobile banking ‘E-wallet for RMG workers’.”

Rubana Huq, President, BGMEA

Rubana urged the country’s leading mobile financial service providers to come forward to join the ‘E-Wallet for RMG Workers’ platform.

The BGMEA president said their main challenge is now to implement the wage digitization process at garment factories.

Deputy General Manager of Bangladesh Bank Masuma Sultana said that Bangladesh Bank has worked to ensure the financial services for underserved segments, such as women.

Ananya Wahid Kader, senior financial sector specialist of IFC; Shwapna Bhowmick, country manager of Bangladesh and Myanmar of Marks and Spencer; Sharif Almas Rahman, Director of Stylecraft Ltd; and Md Sajjadur Rahman Mridha, chairman of ABA Group, expressed their views. Besides, Takreem Riwan Siddiqui, consultant of IFC, also spoke at the event.

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