Nagad led by Sadaf takes women's financial inclusion to 49%

DHAKA, Bangladesh, Oct. 13, 2023 /PRNewswire/ -- Nagad, Bangladesh's leading digital financial service provider, has reached a significant milestone in empowering women and promoting financial inclusion, thanks to the relentless efforts of its Co-founder and Executive Director Sadaf Roksana.

With an easy account opening process, facilitated by e-KYC and USSD *167#, using mobile phones, and a range of convenient services, the mobile money carrier has now contributed to raising the financial inclusion ratio among women to an impressive 49 percent.

According to Nagad's internal data, the gender gap in financial account holders is now only 1 percent.  

The journey of the world's fastest-growing MFS company towards achieving this remarkable goal has been marked by a series of initiatives that have effectively bridged the financial gender gap.

One of the key programs implemented by Nagad is the disbursement of primary education stipends to students' mothers – a strategic move that recognises the vital role women play in the education of the nation's future leaders.

The impact of this initiative cannot be overstated, as it not only supports women but also encourages families to invest in education, ensuring a brighter future for generations to come.

Furthermore, Bangladesh's fastest unicorn startup has become a lifeline for many social safety net beneficiaries, with a significant majority of those receiving allowances being women. These allowances are essential for the welfare of vulnerable members of society, and the state-owned MFS operator's role in disbursing them ensures that women have easy access to the financial support they need, promoting their economic independence and well-being.

Sadaf Roksana, co-founder and executive director of Nagad Ltd., has been the driving force behind these transformative initiatives. Her dedication and unwavering commitment to improving the financial landscape for women have paved the way for Nagad's success in this endeavour.

Under her visionary leadership, the company has not only accelerated financial inclusion for women but has done so at a rate that is on par with men, making a profound impact on the nation's economic development.

Commenting on this significant achievement, Sadaf said, "At Nagad, we believe in empowering women and enabling them to access financial services conveniently. Our commitment to supporting women through education stipends and social safety net allowances has been instrumental in reaching the 49 percent financial inclusion ratio for women."

"We are proud of our accomplishments, and we will continue to work tirelessly to create more opportunities for women in the financial sector," she said.

About Nagad Ltd (https://www.nagad.com.bd/)

Nagad Limited is one of the leading MFS operators in Bangladesh's payment industry with 80 million registered customers and an average daily transaction of about USD 112 million. The digital payment platform, known as a successful public-private partnership between Bangladesh Postal Department and the private sector, was inaugurated in 2019 by Prime Minister Sheikh Hasina of the people's republic of Bangladesh.