TARA is a women’s banking solution offered by BRAC Bank in Bangladesh. It is the country’s first 360-degree, comprehensive, and dedicated women’s banking solution. TARA offers banking services to women across all age groups and aims to provide a gateway to the use of various financial services.
More than 300,000 women in Bangladesh, across various sectors, have received support from BRAC Bank’s women’s banking service TARA, launched in May 2017. Back in 2017, only 36% of Bangladeshi women had a formal account with a financial institution, 26% saved money and 10% saved in a traditional financial institution, according to the 2017 Findex data. Conscious of this reality and recognising the undeniable role of women in society, BRAC Bank saw the opportunity to offer a specific banking offering to empower women.
The programme has since evolved into a holistic proposition that aims to offer financial and non-financial products and services to all women in Bangladesh, from entrepreneurs to stay-at-home mothers. TARA provides deposit, lending and credit card products tailored to women’s needs, so as training and workshops on professional and business development, networking opportunities, a dedicated helpline for TARA clients, and special discounts with retail partners.
Selim R. F. Hussain, Managing Director & CEO of BRAC Bank:
“TARA has become an integral part of women’s lives in Bangladesh. It has transformed how women approach banking, manage their finances, and achieve their life goals. TARA guides women for better financial planning, economic freedom, and realizing their aspirations.”
Over the past six years, TARA has supported the progress of more than 300,000 women across various sectors, including corporate professionals, business owners, homemakers, students and senior citizens. Regardless of their social status, TARA has been instrumental in providing suitable solutions to women from all walks of life.
One stop solution
TARA (which means Star) is Bangladesh’s first comprehensive, dedicated women’s banking solution, providing banking services to women of all ages, professions and backgrounds in the country. TARA aims to increase women’s self-esteem and decision-making capacity by improving access to banking information and providing financial services that match the unique banking needs of women in both retail and SME segments.
Along with banking services, TARA assists women in developing their personal and professional capacities. TARA is a one-stop solution for all kinds of banking products for every woman, from savings to lifestyle loans, business financing, business consultation and documentation support.
The success story of Farzana
Farzana Afroz Diba, a young entrepreneur and North South University graduate launched a unique business venture to promote locally produced goods. She recognized the potential for domestic manufacturing of import-dependent items and founded ‘Suchi Shoili‘ in June 2016.
Inspired by foreign makeup pouches at a trade fair, Farzana began designing and crafting bags using native materials, pricing them at 200 BDT. She successfully marketed her products on Facebook and in various groups, receiving a positive response from customers who appreciated locally made goods.
Initially, Farzana handled the sewing herself, but as demand grew, she expanded her operation with more machines and workers. She credits women’s banking service TARA for supporting her small business and enabling its growth. Farzana believes that starting a new business requires courage and determination, and she is grateful for the assistance from BRAC Bank, which aligns with her mission to promote domestic products and industry expansion.
BRAC Bank is committed to financial inclusion and economic empowerment for women to better their lives. The bold idea behind TARA is to be a trusted partner for Bangladeshi women through their journey of life and financial independence.
