The Bangladesh Business & Disability Network (BBDN) and SME Foundation (SMEF) have signed a MoU that outlines a shared commitment to advancing the agenda of accessible financial services for especially-abled entrepreneurs, reports UNB.
The primary focus will be on advocacy, product development, and capacity-building initiatives in the banking and financial sectors.
This initiative marks a significant step towards ensuring equitable access to financial services for all, reinforcing the need for inclusivity in Bangladesh’s economic landscape.
Prior to signing the MoU recently, a discussion was organized on the accessibility of finance for persons with disabilities, through the support of the International Labour Organization’s (ILO) Promoting Gender Responsive Enterprise Development and TVET Systems (ProGRESS) project, where both BBDN and SMEF are partners of the ILO.
The event brought together key financial institutions, including SME Foundation, BRAC Bank, Mutual Trust Bank, Shahjalal Islami Bank, Kormoshongsthan Bank, NRBC Bank, as well as prominent organizations like PKSF and Sajida Foundation, according to a media release.
Participants engaged in insightful discussions, exploring their experiences and understandings regarding the financial inclusion of persons with disabilities.
Mahbubul Islam from the Centre for the Rehabilitation of the Paralysed (CRP) shared valuable insights on the essential requirements for developing financial products that cater to the needs of persons with disabilities, based on their experience. Sightsavers provided an overview on the SME policy landscape.
Several entrepreneurs with disabilities also participated in the event, openly discussing the discrimination they face, despite being qualified and equipped, in accessing loans and financial support from banks and financial institutions.
Notable speakers at the event included Peter Belen, Chief Technical Advisor of the ILO ProGRESS project; Anwar Hossain Chowdhury, Managing Director of the SME Foundation; Monsur Ahmed Chowdhury, Trustee of BBDN; and Murteza Rafi Khan, CEO of BBDN.
The Chief Guest, Anwar Hossain Chowdhury, emphasized in his speech the importance of SMEF and its extended network actively engaging in every stage of the implementation process. He noted that, while numerous theoretical discussions have been held and extensive research conducted, the reality on the ground tells a different story. People with disabilities continue to face significant challenges in establishing their own businesses. Many still go door to door seeking support, but their needs remain unmet.
Although there are policies in place, effective implementation remains a challenge, he noted. “This makes it all the more vital for us to come together, organize, and collaborate to genuinely support people with disabilities in building their businesses and becoming self-sufficient. Now is the time for collective action,” Chowdhury said.
Discussants at the programme underscored the urgent need to address barriers to financial accessibility and emphasized the importance of collaborative efforts in creating inclusive financial products and services.
Bd-Pratidin English/ Afsar Munna
