Fintech-Based Financial Inclusion in Bangladesh

Overview, Challenges and Policy Directives


  • Rony Kumar Datta Institute of Bangladesh Studies, University of Rajshahi Bangladesh; Department of Finance and Banking, Hajee Mohammad Danesh Science and Technology University, Dinajpur-5200, Bangladesh



Fintech, Financial Inclusion, Digital Finance, Bangladesh


Financial inclusion, especially the adoption of fintech, has emerged as a crucial avenue for removing the financial access divides in developing countries, including Bangladesh. Following the comprehensive analysis, this article intends to outline Bangladesh's recent experiences with fintech-based financial inclusion, identify the short-comings and hence make policy suggestions. Being a descriptive research, cross-sectional and observational research approaches are applied for the explanatory analysis of secondary data. Results suggest an urban-rural gap in the implementation of digital financial services, with urban areas consistently having higher rates of fully online branches and a greater number of financial machines. Despite this, the sharp rise in the issuance of active cards is a positive sign suggesting an expansion of consumer base and an adoption of electronic modes of payment. Moreover, inter-bank electronic fund transfers and online banking have experienced increasing uptake, revealing a progressing trend towards digital transactions within the banking industry. Additionally, the study identifies a speedy growth in the number of mobile financial services accounts in both urban and rural areas. This study adds to the exchange of ideas regarding financial inclusion by carrying out a detailed study of Bangladesh's digital financial transformation, exemplifying the accomplishments, obstacles, and future research directions. It highlights the need for targeted policies and ongoing research efforts to build inclusive financial systems to serve the entire society’s interest. Nevertheless, the observations will have both theoretical and practical significance, contributing towards building capability in harnessing technology for sustainability, community uplifting, and shaping a brighter future.  


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Author Biography

Rony Kumar Datta, Institute of Bangladesh Studies, University of Rajshahi Bangladesh; Department of Finance and Banking, Hajee Mohammad Danesh Science and Technology University, Dinajpur-5200, Bangladesh

Rony Kumar Datta is an accomplished academic and Associate Professor in the Department of Finance and Banking at Hajee Mohammad Danesh Science and Technology University (HSTU) in Dinajpur, Bangladesh. Presently, he is engaged as a Ph.D. Fellow in the Institute of Bangladesh Studies, University of Rajshahi, Bangladesh. He has a passion for teaching and research in the field of sustainable finance and banking. His research interests include fintech, financial inclusion, climate finance, green finance, and machine learning. He has published several research papers in international journals and presented his work at various conferences. Additionally, he has conducted several funded research projects at the national level.


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How to Cite

Datta, R. K. (2024). Fintech-Based Financial Inclusion in Bangladesh: Overview, Challenges and Policy Directives. International Journal of Finance & Banking Studies (2147-4486), 13(1), 01–16.