Digitalization in financial services, in another way financial technology or FinTech, has drastically extended financial intermediation while customers are experiencing and engaging with the development of new digital products and competencies. Nevertheless, over two billion people worldwide remain out of accessing financial services that make financial inclusion an equally important concern for all economies, including Bangladesh. Over the last few years, a good number of academic literature has been made on FinTech covering how essential it is to serve the unbanked and underbanked countries. This study tries to provide an inclusive survey of relevant literature on FinTech and its potential to disruptive financial intermediation globally and nationally. Therefore, a descriptive research design has been adopted entirely based on secondary resources and mostly relying on the Global Findex database, International Monetary Fund (IMF) releases, and Bangladesh Bank reports. It has been evident that digital financial inclusion is connecting more and more people to the financial system at a growing pace resulting in substantial welfare benefits throughout the nation. Even if the active use of mobile money systems, digital banking, especially internet banking, is reshaping our bank. However, there is much work to be done compassing the challenges and the threats of FinTech as important policy issues for the existing financial landscape. In conclusion, this study provides an insight into the country's digital financial system and contributes to further study in relevant disciplines.
This paper analyses the effect of COVID-19 on the financial sector of Bangladesh. Particularly, it explores how this pandemic has affected this industry, considering firms’ past (pre-pandemic) financial characteristics. Employing the Generalised Estimation Equations (GEE) method with 1050 firm-year observations, which includes listed Banks, Financial Institutions, and Insurance companies’ data obtained from annual reports, datastream, and WHO, we found that firms with the larger size, more leverage, liquidity, and higher ROA is more resilient to stock return declines reacting to this pandemic. This study should be of interest to investors and regulators as it provides new evidence related to an industry’s pandemic and stock market response based on their prior financial characteristics. Besides, it will contribute to the extant literature of COVID-19 and the firm’s stock return from an emerging economy perspective.
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