A slide from "DFS in the Time of Covid-19"reportFinds study by pi STRATEGYThe digital financial services (DFS) helped limit the spread of coronavirus to some extent by creating an avenue for digital payments that facilitated social distancing protocols, found a recent study by pi STRATEGY. One of the areas where the country did reasonably well is in its usage of digital payments to reach the vulnerable populations quickly with government subsidies. More than 2 million mobile money accounts were opened within six weeks - many in the garment sector. However, those with mobile financial service accounts were better able to withstand the shock. “Reducing the gender gap in financial inclusion is very important and DFS is narrowing the gap,” said Arfan Ali, managing director of Bank Asia.

Source: Dhaka Tribune December 21, 2020 18:45 UTC