IFC presents business case for wage digitisation

26 June, 2019 12:00 AM printer

The International Finance Corporation (IFC), a member of the World Bank Group, organized an event on Tuesday to establish the business case for digital wage payments using mobile financial services in the readymade garment (RMG) sector and launched a series of resources to enable garment factories to shift from cash to mobile-based wage payments for their workers.

Specialized tools will allow mobile financial service providers to expand the range of digital payments for garment workers and ensure that the RMG sector can take the initiative forward, said a press release, reports BSS.

It is part of IFC’s and Bangladesh Bank’s joint initiative to include women financially through Mobile Financial Service (MFS) adoption.