Social safety net allowances to be disbursed through MFS

The government has announced to disburse its social safety net allowances through mobile financial services.

This move aims to cut off the middlemen and ease the transfer of allowances to beneficiaries.

Nagad, the digital financial service of Bangladesh Post Office, will disburse about 75% of the total fund to 76.13 lakh beneficiaries in 40 districts, while leading MFS operator bKash will disburse funds among around 20 lakh beneficiaries in 24 districts, according two press releases.

Beneficiaries can cash out the money from any part of the country through the agents of both the MFS’s without any additional cost. The government will bear Tk7 of each cash-out transaction and operators will bear the rest.

Prime Minister Sheikh Hasina officially inaugurated the event on Thursday through two virtual programmes at Gonobhaban and Bangabandhu International Conference Center.

Elderly, widowed and divorced, indigent disabled and handicapped students receive allowance under the Social Safety Net program of the Ministry of Social Welfare.

The government will distribute Tk5,885.64 crore in allowances under four programmes in the current fiscal year.

Under the schemes, Tk2,940 crore has been allocated for 49 lakh elderlies eligible for old-age allowances.

The allocation for 2.50 lakh widows and destitute women stands at Tk1,230 crore. Tk1,620 crore has been allocated for 18 lakh insolvent people with disabilities.

Besides, the government will pay Tk95.64 crore in educational stipends to 1 lakh physically challenged students.

Nuruzzaman Ahmed, Minister for Social Welfare presided over the function. Ashraf Ali Khan Khasru, State Minister for Social Welfare was present as a special guest.

Nagad Managing Director Tanvir A Mishuk and Bkash CEO Kamal Quadir was also present in the occasion among others.