Mobile Financial Service: Enhancing the Inclusion for the Informal Workers in Dhaka, Bangladesh

Financial services through a cell phone are changing the way people in developing countries handle their money. In Bangladesh, mobile banking is an important instrument to support financial inclusion of informal workers mainly in Dhaka s North City Corporation. There is a substantial amount of literature on the factors affecting mobile banking adoption among farmers, rural households, micro-businesses (M-Business) and SMEs. Based on information gathered through 300 respondents, the study employs descriptive and econometric analyses (Logistic Regression and Perception Index) to pinpoint possible drivers of mobile banking adoption. It also takes into account socio-economic factors such as age, sex, education level, income, number of people in the household and occupation. The results reveal that age, education, household size and income are positively related to adoption but gender, marital status and number of dependents have no effect. Evening out mobile banking— half of informal workers use mobile banking, but they are more likely to use it for transactions than savings which also suggests limited long-term financial engagement. The study concludes that mobile banking can enhance financial security and savings, but such barriers as digital illiteracy, fear of fraud and lack of awareness prevent more widespread use. The research emphasizes the need for tailored financial education programmes, design of intuitively simple user interfaces and trust-building measures by policymakers, NGOs, mobile providers to increase financial inclusion and support sustainable economic growth among urban informal workers in Bangladesh.