Savings Products

The Savings Product offered by Qatar Bangladesh Foundation (QBF) is meticulously crafted to address the urgent financial needs of borrowers, especially during unforeseen emergencies. With a specialty in providing quick responses and solutions to financial crises, QBF’s Savings Product aims to alleviate the challenges faced by individuals, particularly those from low-income groups.

In many cases, individuals in low-income brackets are forced to sell valuable assets due to the lack of readily available funds to meet sudden necessities. Borrowing from neighbors is often not an option, as communities themselves are financially constrained.

However, QBF clients can overcome these challenges with ease, thanks to the opportunity to withdraw their deposited funds at any time. QBF offers flexible withdrawal facilities, enabling clients to navigate emergencies smoothly and avoid the distressing need to sell essential assets. This flexibility not only provides immediate relief but also helps individuals withstand unexpected economic shocks and disasters, contributing significantly to sustainable poverty alleviation efforts.

Objectives of the Savings Product:

1. Promoting Savings Culture: Encouraging members to save a portion of their income from income-generating activities, fostering financial discipline and resilience.

2. Capital Formation: Building a capital fund from savings to support additional income-generating activities, empowering individuals economically.

3. Poverty Alleviation: Utilizing savings as a primary source of capital for poverty alleviation programs, facilitating sustainable economic empowerment.

4. Self-Sufficiency:  Assisting poor individuals in achieving self-sufficiency by providing access to financial resources for personal and entrepreneurial endeavors.

5. Family Needs: Creating a reliable funding source to meet the varied needs of families, including education, healthcare, and daily expenses.

6. Disaster Resilience: Offering a means to overcome helplessness in the face of natural or other disasters by providing financial support when needed most.

QBF’s Savings Product not only provides financial services but also empowers individuals to build resilience, achieve economic stability, and break the cycle of poverty.