Bangladesh’s ready-made garment (RMG) industry is a primary source of foreign exchange revenue for the country, contributing over $30 billion from global exports and 10% of the country’s GDP in 2015. In addition, the RMG sector provides vital job opportunities to millions of migrant, low-income and semi-skilled workers in the country, employing over 4.5 million Bangladeshis. However, the same reasons that make Bangladesh’s RMG industry competitive at the global level also make its workers socially and economically vulnerable. Garment factory workers in Bangladesh are notorious for working in poor labor conditions, often with little accountability of total hours worked or wages received, and with little or no long-term financial or medical benefits provided to them through the factories.
For more on this story visit the following link: The Case for Wage Digitization in Bangladesh’s Garment Factories
Source: Financial Inclusion