FDH Bank reiterate commitment to financial inclusion in rural Malawi
The fastest growing commercial back in Malawi, FDH Bank has retariated its commitment to financial inclusion in the remote and rural areas in the country.
FDH Bank Managing Director Eric Ouattara made the remarks in Ntcheu when the bank officially unveiled the financial solutions it is offering to the Social Cash transfer protection program in the district.
“Financial Inclusion is one of our focus areas as a Bank and we have demonstrated this not only through the Social Cash Transfer programme but also through the development of banking products and services that are accessible in the rural and remote areas,”
Ouattara added that FDH Bank is looking to a successful implementation of the programme and a lasting relationship with the Ministry of Gender and the District team.
The Bank signed a four year contract with the Ministry of Gender to provide e-payment services and is expected to make monthly payments to beneficiaries in 93 paypoints across Ntcheu district; a project that is reaching out to the ultra-poor and labour constrained households and providing them with financial support to improve their livelihood.
“The FDH Bank platform is integrated with all major players in Malawi that ensures smooth operations of social cash transfers through channels like OneClick. FDH Mobile, FDH wallet, Banki Pakhomo and Ufulu Digital Account that allows to open an account on their mobile phone,” Ouattara explained
Minister of Gender, Jean Kalirani, who officially unveiled the program commended FDH Bank for the good work that it is doing in providing e-payment solution for the project.
“We are proud to show Malawians that it is possible to receive social cash transfer funds that improve the livelihoods of rural Malawians through digital solutions as those presented by FDH Bank,” Kalilani said
FDH Bank, a subsidiary of FDH Financial Holdings, is one of the biggest and fastest growing banks in the region. It has the largest branch and ATM network in the country; 53 branches and over 90 ATMs across.
The financial institution falls under FDH Financial Holdings, a group that is adding value to the country’s financial sector by providing an array of financial services and solutions.
FDH Money Bureau, FDH Bank and First Discount House are champions on financial inclusion and home grown.
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Financial inclusion doesn’t mean payment of social grants to the poor but providing them with financial means to run their own business to achieve financial independence. Handouts have never solved social problems but rather encouraged dependence on the state which literally takes away the dignity of the people.