Although banks have direct expenditure in CSR initiatives, they have continued substantial engagement in the ongoing financial inclusion campaign of Bangladesh Bank, reaching out with financial services to excluded population segments and underserved economic sectors. Some of the financial inclusion programs of banks are as follows:
• Self-employment Credit and Small and Medium Enterprise (SME) lending programs taken up solo or in association with locally active Micro Finance Institutions (MFIs).
• Financial program for installation of biomass processing plants generating biogas fuel and organic manure, for Effluent Treatment Plants (ETPs) in manufacturing establishments, and for solar energy units in households in off grid rural areas.
• Financing program for rural craftsmen and folk/music/drama groups holding cultural events in tourism sites.
• Initiatives aimed at prompt delivery of remittances of migrant workers to recipients in remote rural households, in programs of card based/mobile phone based delivery.
• The landless sharecroppers who were otherwise deprived of institutional credit are now financed by banks. Under this scheme, Tk. 275.45 crore was disbursed to 1.28 lac farmers in 2013.
• Savings accounts of 13.25 million farmers have been opened accepting Taka 10 only as an initial deposit. Recently a circular has been issued by BB to encourage banks to increase transaction in these 10 Taka accounts.
• 28 banks obtained mobile banking licenses; 20 among them have started operation. They are offering basic banking and financial services such as payment of inward and local remittances, withdrawal and deposit of cash from bank branches, payments of utility bills, payments for purchasing goods and services, payments of salaries of corporate officials, industries and factories and other offices, payments of allowances and pensions, fund transfers, immediate mobile balance recharging and so forth.
• In order to include large number of micro women entrepreneurs in the SME credit facilities, a policy of group based lending of up to BDT 50,000 or above has been instigated. During the last one year, banking sector have financed BDT 395 crore to 3317 new women entrepreneurs which is 5% of the total new SME borrowers.
• A refinance scheme with funds from BB, IDA, ADB and JICA is available at BB at reduced rate of interest; 15% of the total fund is reserved for women entrepreneurs only. By now, Tk. 778 crore has been financed to 10,000 women entrepreneurs under this refinance scheme.
• Disbursement of agricultural credit stood respectively at Tk. 92.84 billion (USD1=BDT80 approx.), Tk. 111.17 billion, Tk. 121.84 billion, Tk. 131.37 billion and Tk. 144.67 billion during the last five fiscal years (2009-13). In FY2012-13, disbursed agricultural credit was 4% more than the target. The target set for agricultural credit disbursement for the current FY (2013-14) is Tk. 145.95 billion which is the highest ever.
• BB has given special attention on financial inclusive programs along with financing in agriculture and SME. In large measure by virtue of early attention to financial inclusion aiming at financing needs of farm and non-farm SMEs and agriculture, growth in Bangladesh economy has been impacted only mildly by global financial crisis and its aftermath.
