Impact of covid-19 on the financial innovation in Bangladesh

Abstract

Swift novelty has affected the progressive economic atmosphere extremely, particularly the effect of financial innovation on financial system, both as to digit as well as standard (Błach, 2011). Both the developed and emerging countries have emphasized on financial innovation for living a better and easy life along with economic development. The Covid-19 pandemic has opened a new era in the countries financial inclusion and innovation. The objective of this paper is showing the effect of pandemic in various financial innovation techniques in Bangladesh. This research was conducted by using secondary information. The outcomes concluded that the pandemic has significant role in the growth of financial services in Bangladesh. The government, banks and financial services providers’ policy and new invention made it convenient for people to access in financial services amid pandemic. The findings suggest that, Bangladeshi people are accessing different digital financial services than before but it will take time to ensure financial inclusion for all where government and banks need to work for security issues, fastest internet and spread the financial literacy among people.