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bKash signs agreement with ShoreBankDec 16, 2010 (Datamonitor via COMTEX) -- bKash Limited has signed an agreement with ShoreBank International to provide financial services through a network of community-based agents and existing technologies, including mobile phones. bKash is working to provide an electronic platform to increase the access to a range of financial services for both banked and unbanked people of Bangladesh. It has a focus to serve the low-income people of the country and promote sustainable micro-savings to achieve broader financial inclusion by providing financial services that are convenient, affordable and reliable. The offering is designed to address the barrier facing the region's poor limited access to financial services. By working with bKash, ShoreBank will strengthen the company's capacity with regard to strategic and operational planning, customer uptake, marketing, building the agent network, technology, and cash management, all under the umbrella of promoting financial inclusion. On November 16, 2010, ShoreBank announced that it has received a $10 million grant from Bill & Melinda Gates Foundation to support this enterprise. "bKash presents a compelling business plan which capitalizes on a ripe economy to dramatically expand access to formal financial services, both as an extension of BRAC Bank and as a full-scale mobile phone-based payment switch. This will highly benefit the country as 83% of the population lives under $2 a day and access to finance can help in improving their economic situation," said Mr Muhammad A. (Rumee) Ali, Chairman of BRAC Bank Limited and Chairman of bKash Limited on this occasion. http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon |