Financial literacy

Brac University DPRK Holds Seminar on Financial Literacy and Financial Access in Bangladesh

The Professional Research and Development Center (RPDC) at Brac Business School recently launched its “seminar series” with the first seminar on “Financial Literacy and Financial Access: The Bangladesh Context”.

The seminar was sponsored by the Association of Commonwealth Universities (ACU).

The special guest at the event was Towhid Elahi, Principal Deputy Secretary of the Ministry of Health and Family Welfare.

Professor and Dean of Brac Business School, Dr. Sang H Lee, Associate Dean of Brac Business School, Dr. Mohammad Mujibul Haque, Registrar of Brac University, Dr. David Dowland were also present.

DPRK has received a research grant from the ACU to conduct a survey on financial literacy across Bangladesh, a press release read.

As a result of the survey, an in-depth analysis was carried out and an elaborate report was created to present the results.

The seminar was a presentation of these findings on financial literacy and financial access in Bangladesh.

Dr. Sang H Lee delivered the welcome speech to the audience. He highlighted the importance of financial literacy and financial access at the micro level.

He mentioned cultural practices and gender-based differences in Bangladesh as the main causes reflected in the financial literacy score.

The Associate Dean, Dr. Mohammad Mujibul Haque, shared his thoughts on the importance of personal finances and their effective management. He said more institutions should take the lead in educating the general public about financial products in the count.

Towhid Elahi has motivated researchers and students to actively participate and get involved in the cause and to tackle the data poverty that exists when it comes to financial literacy and access.

A presentation was given by Senior Research Associate Abul Khayar Mohammod Fazlur Rahman from DPRK.

The main findings of the survey were the gender gap, with women’s financial literacy being slightly higher than men’s, while women’s financial access was lower than men’s.

The University Registrar appreciated Brac Business School for launching such impactful programs.

He shared his experience on how a lack of financial literacy can affect not only developing countries but also developed countries.