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IBBL mCash, the gateway for payment of salaries and allowances to garment workers
IBBL mCash, the gateway for payment of salaries and allowances to garment workers
‘mCash’, mobile banking service of Islami Bank Bangladesh Limited has transferred Tk.289 crore to the workers of garments and export oriented industries as part of the government-announced incentives from April 2020 to August 2020. More than hundred garment factories have taken digital payment system ‘mCash’ to pay their workers. The money can be withdrawn from 357 branches, 102 sub-branches, 1381 agent banking outlets and 660 ATM / CRM machines of IBBL across the country as well as from agent points of mCash and Grameenphone-MobiCash.

The charge of withdrawing the salary money from IBBL ATM has been completely waived to acquaint the clients with the modern digital payment system. As a result, garment workers are able to safely withdraw money from IBBL ATMs at any time including holidays at free of cost by maintaining social distance. ‘mCash’ has been providing various types of mobile financial services since 2012 as an approved payment gateway of Bangladesh Bank.

Paying garment workers in cash in the conventional way is extremely risky, costly and time consuming. As much as it wastes working hours, it also disrupts production. On the other hand, salary can be paid easily and at low cost through mCash. Having a record of each transaction ensures transparency as well as security. In addition, digital salary payment service of mCash is playing a significant role in building a digital Bangladesh through the financial inclusion of unbanked population.
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