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76 percent rickshaw-pullers in Dhaka use mobile banking


01 December 2014

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The Bangladesh Bank has so far given license to 28 banks to operate mobile financial services of which 19 are in operation.

Dhaka: Nearly 76 per cent of rickshaw-pullers in the Dhaka city send money to their village home through mobile banking due to its safety and cost efficiency, according to a study.

The study titled ‘Use of electronic media: Remittance behavior of Rickshaw-pullers of Dhaka city" conducted by teacher of Dhaka University.

Dr Salahuddin Aminuzzaman, a professor of the Public Administration Department of Dhaka University conducted the study on 350 rickshaw-pullers to understand the pattern of internal remittance behaviour of the rickshaw-pullers in Dhaka as well as the use of the remitted money, said a press release yesterday.

The study conducted between March and June 2013 said 47 per cent of the rickshaw-pullers send money home every week while 21 per cent fortnightly. Majority of them use 'bKash' to send the money.

An overwhelming number of respondents consider mobile money safe and cost effective. Around 100 per cent of respondents said mobile money is safe while 85 per cent said it is cost effective.

Around 89 per cent of the respondents said the remitted money reaches their family members or desired persons within 15 minutes.

The study said the average amount of money sent per week is around Taka 981 and 84 per cent of the money recipients include parents, wife and family members.

Regarding the usage of the money, the study said around 75 per cent of the remitted money is spent on food and family maintenance while 31 per cent spent on child education, 35 per cent on minor investment, 32 per cent on small business and 9 percent on loan repayment.

From demographic perspective, around 72.3 per cent rickshaw-pullers belong to age group of 30 to 50 years and 80.6 per cent of them are married. Majority of the rickshaw-pullers come from riverine and char areas such as Rangpur, Kurigram, Jamalpur, Tangail, Mymensingh Bogra and Sirajganj.

Industry insiders said mobile money is driving the financial inclusion in Bangladesh through creating financial access for poor and the unbanked. The central bank's pragmatic and consistent regulatory framework helps the mobile money to grow by earning trust and confidence of the common people.

The Bangladesh Bank has so far given license to 28 banks to operate mobile financial services of which 19 are in operation.

In recognition of promoting mobile banking service in Bangladesh, the Bangladesh Bank has won the prestigious Alliance for Financial Inclusion (AFI) Policy Award.

AFI is an international organisation of central banks and other financial regulators working for greater financial inclusion.

SOURCE: BSS

 
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