Brac Bank retains Access to Finance Champion award

Brac Bank has won the Access to Finance Champion award for the fourth consecutive year for its outstanding female financing solution TARA. 

Financial Alliance for Women, a leading members' network of financial organisations in 135 countries dedicated to championing the female economy, has named the bank for this award.

The award is given each year to the outstanding Alliance member-institutions that work to serve their women customers better by providing them with holistic solutions to meet their investment needs, said a media statement on Sunday.

The announcement came from the 2020 Alliance Summit held virtually between 6 October and 8 October.

This year, the Female Economy Champions reflect the global nature of the work of the Alliance, hailing from diverse markets across six different regions of the world.

Inez Murray, chief executive officer of Financial Alliance for Women, said, "These institutions are setting an example for the sector by developing the programme and strategies needed to tap into the female economy and making their brand more sustainable along the way."

"Their engagement with the Alliance network is essential to our mission and work of economically empowering women worldwide. They are proof of the business case for increasing gender equality on many scores."

Brac Bank was named the Access to Finance Champion for continuously evolving its products and services under TARA to expand its reach to female customers.

Commenting on this achievement, Selim RF Hussain, managing director and CEO of Brac Bank, said "It is indeed a great pride and honour for Brac Bank to win this award consecutively for the fourth time! It encourages us and instills confidence in us when we see our work is being appreciated not only in our country but also through global networks."

Brac Bank launched TARA, a dedicated banking solution for women, in May 2017, and since then has been focusing on evolving changes that are best suited for the women of Bangladesh.

"Championing the women's economy is both a means to progressing the financial inclusion agenda of developing countries and, at the same time, a great business opportunity. It is something we must do to further social justice and something which is perfectly aligned to the values that Brac Bank stands for," Hussain added.

The recorded videos of the 2020 Alliance Summit will be available on the Financial Alliance of Women Youtube channel after 12 October 2020.