Valor of Bangladesh, a platform dedicated to bringing together country leaders from all possible sectors, recently started its journey. Its debut endeavor, 'Strategy Summit 2021' with the theme, 'In pursuit of A Better Tomorrow', powered by IPDC Finance, supported by Ispahani Group, in association with Zahedee Foundation, featured 12 sessions, each of them featuring a crucial topic relevant to Bangladesh's future with national icons shedding light upon them. One of them was Fintech and MFS, which had Mastercard as panel associates with  Adil Islam, the Country Head of Bank Alfalah as the moderator.

Initially, the webinar started with  Kamal Quadir, CEO of Bkash, who enlightened the audience regarding his organization's journey. A meaningful journey that spans over a decade now, audiences were able to learn about all the obstacles that came in the way. It was inspiring to see Bkash reach such magnificent heights and have such an impressive user base. Their collaboration with banks and NGOs encouraged the viewers about the future that interconnects the entire MFS industry with the Banking and Fintech industry. He also found the progress Fintech industry had been making to be optimistic, and the existence of Artificial Intelligence will make transactions more accessible in the future. In the end, imagining a reality where MFS will play a more significant role did not seem too far away from his speech.

Right next, the audience got to listen to someone who has the same amount of experience in this exact field,  Rahel Ahmed, the CEO of Nagad. His speeches were thoroughly inspiring as he talked about the substantial progress his organization had made within two years since its inception. Beneficial incentives like cost-effective transactions and Government-to-Person payments and distributing the stipends for students were also wonderfully explained. He concluded his portion by explaining how thorough collaboration is necessary to integrate insurance into MFS and expand Nano-lending services.

An interesting take on the Fintech and MFS industry was presented by  Sajid Rahman, the Founder & CEO of Digital Healthcare Solutions, who analyzed its evolution in both the domestic and international market. The successful penetration in these arenas helped everyone feel positive about the current situation. He stated that a lot of work is necessary as we also have to introduce wealth management and lending organizations into the fold. Although there is no perfect way for the Fintech industry to yield a consistent profit, analyzing the methods banks use to make money could be beneficial. Lastly, he encouraged all to focus on restructuring Fintech to spare itself of the vicious cycle it is currently in and identify a large customer base with high payment output.

Finally, the last speaker of the session was  Syed Almas Kabir, the President of BASIS. Stating the user demands and expectations regarding Fintech and MFS, he introduced all present to a wide range of possibilities for this industry. A suggestion of incentives and VAT exemptions opened the audience up to the lucrative prospects here. The endeavor of BASIS to introduce an ESPRO service made everyone feel hopeful of the future progress of the field in Bangladesh and its impact on the formal economy.

In conclusion, all present unanimously agreed that the potential of Fintech and MFS in Bangladesh is boundless, and we had just scratched the surface. However, handling the future is of utmost importance so that the industry can move ahead smoothly.