The Daily Star (TDS): How have Bangladesh Bank's directives been instrumental in promoting financial literacy among women?

Tamanna Quadry (TQ): Prime Bank is committed to empowering women by promoting financial literacy in alignment with Bangladesh Bank's directives. Bangladesh Bank's directives have played a crucial role in advancing financial literacy among women, particularly by implementing initiatives such as collateral-free loans and low-interest credit for women entrepreneurs. These measures have cultivated an enabling environment for women to access credit and manage businesses effectively. Prime Bank has further aligned with this vision by offering women-centric banking products, such as the Prime Women's Savings Account and Hasanh Women's Savings Account, which feature health insurance benefits and interest rates of up to 5%. These tailored products are designed to promote savings, improve financial security, and foster long-term financial literacy for women across the country.

TDS: What training programs support women by leveraging local networks and interactive methods to address their unique challenges, equipping RMG workers, coastal communities, and indigenous groups with banking fundamentals for economic independence?

TQ: To empower women, various training programs leverage local networks and interactive methods to address their specific challenges. These initiatives, particularly targeted at RMG workers, coastal communities, and indigenous groups, focus on equipping women with essential banking and financial management skills. For instance, Prime Bank's Neera Service Corner brings banking services closer to women in remote areas, ensuring easy access to both services and support. In addition, Prime Bank has launched a free online learning platform, enabling women to enhance their financial skills through comprehensive training modules aimed at fostering economic independence. The bank also conducts nationwide financial literacy training sessions to elevate women's financial knowledge and support their autonomy. Complementing these efforts, Bangladesh Bank's microfinance sector, with women constituting 89.55% of MFI account holders, underscores the success of grassroots financial inclusion programs. Through these combined efforts, women are empowered with the tools and knowledge needed to achieve financial independence and economic empowerment.

TDS: How could the collaboration between FinTech and Mobile Financial Services (MFS), as adopted by you, elevate unbanked women?

TQ: The collaboration between FinTech and MFS offers a transformative solution for unbanked women, particularly those in remote and underserved areas. Prime Bank's digital platforms, MyPrime and Prime Pay, provide real-time banking services that allow women to perform transactions, send money, and manage their savings with ease, helping bridge the gap for unbanked women and promoting financial autonomy. Recent data from 2023 reveals a growing trend, with 7.2% of women in Bangladesh now using mobile banking. In response to this surge, Prime Bank introduced MyPrime, which offers secure sign-ins, account snapshots, and easy access to a wide range of banking services. Additionally, Prime Agrim facilitates digital nano loan, which is enhancing women's ability to manage their finances seamlessly. These platforms are instrumental in empowering women to take control of their economic well-being, advancing financial inclusion, and ensuring equal access to banking services.

TDS:  What tailored products do you offer for targeted women to enhance financial literacy and facilitate transactions?

TQ: To promote financial literacy and facilitate transactions for women, Prime Bank offers a range of tailored products that cater to their specific needs. These include the Prime Women's Savings Account, Prime Achol Loan, and Hasanh Women's Savings Account, along with personal loans, bike loans, home loans, and credit cards. These products provide accessible savings options, health insurance coverage, and competitive interest rates of up to 5%, encouraging women to save and secure their financial future. For women entrepreneurs, Prime Anchol Rin offers flexible, low-interest loans, helping them overcome financial barriers and expand their businesses. These tailored banking solutions not only support women's financial inclusion but also empower them by making banking services more accessible, user-friendly, and aligned with their specific financial goals.