Noor Elahi, former Western Union country manager for Bangladesh, Sri Lanka and the Maldives, has recently joined wagely as its Managing Director to accelerate wagely’s expansion and ensure the financial well-being of Bangladesh’s middle and low-income workers.
16 years of immersive experience across the Telecom, FMCG, Cross Border Payments and FinTech industries has made Noor proficient in Marketing, Brand Communication, Market Research and Business Development.
He joined Western Union in 2013 as head of marketing and soon began overseeing the company’s marketing in South Asia. He has also served as the Marketing Head of Emami, another global company.
wagely is Bangladesh’s first financial wellness platform pioneering Earned Wage Access (EWA) services in the country with a mission to provide a sustainable solution for all employees to break the cycle of debt caused by overdraft fees, high-interest credit, or payday. Provides loans and plays a leading role in building the financial well-being of low- and middle-income workers.
wagely is building a holistic financial wellness platform with EWA at its core that allows partner employers to access employees’ real-time and financial education on their earned wages. It is proven to reduce labor migration, improve productivity and increase business savings.
According to the wagely press release, it has helped RMG factories by reducing migration up to 60% and 80% of workers have reported that they have less financial stress and greater loyalty to their employer company.
“I am very excited to join wagely – one of Southeast and South Asia’s most exciting FinTech companies, which is founded with a social purpose and a mission to reduce the poverty premium by giving disruptive financial solutions to millions of lower- and middle-income workers and reduce their financial burden,” stated Noor, “I adore the vision of the Founders and Board Members, and I truly felt connected to the larger meaning to serve the community through this platform.”
Tobias Fischer, co-founder and CEO of wagely said, “Together with Noor’s contribution as the Managing Director of Bangladesh, we can continue to serve as a holistic financial well-being platform and build a financially resilient workforce for a better future for the country.”
Recently, BGMEA and wagely Bangladesh Limited signed a memorandum of understanding to raise awareness and increase the adoption of Earned Wage Access (EWA) for garment workers in Bangladesh.
BGMEA, President Faruque Hassan expressed hope that the initiative of wagely will play an important role in improving the financial health of more than 4 million garment workers in the RMG sector.
Hopefully, the inclusion of an expert like Noor Elahi as Managing Director of wagely will further strengthen wagely’s mission.