Mobile financial service Nagad and Switzerland's Zurich-based non-profit organisation Swisscontact recently signed a memorandum of understanding (MoU) to enhance the financial inclusion of apparel workers through a digital platform. The initiative, a part of "Sarathi – Improving Financial Health," aims to introduce ready-made garment (RMG) workers to the easily-accessible services of Nagad and increase their digital literacy by raising awareness, according to a media statement. Nagad CEO Rahel Ahmed and Mujibul Hasan (Cezanne), country director of Swisscontact Bangladesh, signed the MoU in the capital. Read: Nagad launches add-money service from Meghna Bank Sarathi – Improving Financial Health project was launched by Swisscontact, under which both organisations seek to reach about 17,400 RMG workers and their communities with digital financial products and services. The programme is anticipated to encourage beneficiaries to transact their digital currency in alternative avenues. The project will run until October 20. The joint initiative will include uddokta, merchants, and educational institutions. Through this initiative, Nagad and Swisscontact will conduct activities to raise financial awareness among the RMG workers and their communities. Read BURO partners with Nagad for easier savings, instalment payments

Swisscontact and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) have signed an agreement for the economic rehabilitation of readymade garments (RMG) workers amid the pandemic. Sarathi-Progress through Financial Inclusion, a development project of Swisscontact Bangladesh, on Monday signed the agreement with BKMEA to support apparel workers and factories that are still reeling from the disruptions brought about by the pandemic. Through this collaboration, 400 RMG workers will receive a portion of the wage subsidy. Many factories will be forced to partially or entirely stop operation in the coming months if they do not receive more production orders from the international brands. This will result in more layoffs in the apparel sector. Also read: Swisscontact, BKMEA team up to support Covid-hit RMG workers So, Sarathi will collaborate with BKMEA to identify small and medium RMG factories, who are struggling to receive production orders amid the pandemic.  And BKMEA will help Sarathi identify the struggling factories based on specific selection criteria and grant them partial wage subsidy, enabling them to retain their entire workforce. BKMEA Vice-President Mohammad Hatem and Sarathi Team Leader Syeda Ishrat Fatema signed the agreement. Also read: RMG worker ‘gang raped’ in Gazipur   To date, Sarathi has engaged four commercial banks to digitise the wage payment system of 49 RMG factories; and through its interventions, 76,000 RMG workers are receiving their salaries in their bank accounts and have access to banking products and services. Also, 17,000 RMG workers have received financial literacy training and 200,000 people were reached through mass awareness campaigns conducted by Sarathi.

The Embassy of Switzerland in Dhaka and Swisscontact have jointly launched the second phase of their programme ‘Building Skills for Unemployed and Underemployed Labour (B-SkillFUL)’.