Overview

The conference paper was accepted for presentation at the International Conference on Financial Literacy and Economic Wellbeing (ICFLEW) 2025, hosted by BRAC Business School, BRAC University, Dhaka, Bangladesh, on Jun 26, 2025. This research examines the adoption of Mobile Financial Services (MFS) and financial literacy among market merchants in Sylhet, contributing to Bangladesh’s fintech and financial inclusion initiatives.

Extended Abstract

Download/View the full extended abstract: Link

Conference Paper

• Title: "Exploring Mobile Financial Services (MFS) adoption and basic financial literacy among market merchants in Sylhet"

• Authors: Md Golam Mubasshir Rafi and Israt Zarin Ruponty.

• Affiliation: Army Institute of Business Administration (Army IBA), Sylhet, Bangladesh.

• Year: 2025

• Event: International Conference on Financial Literacy and Economic Wellbeing (ICFLEW 2025), BRAC University, Dhaka, Bangladesh, June 26, 2025.

• Status: Accepted for presentation (Revised submission: May 24, 2025).

• Roles:

  • Md Golam Mubasshir Rafi (ORCID: 0009-0007-4015-8354): Lead author, responsible for methodology design and data analysis.

  • Israt Zarin Ruponty (ORCID: 0009-0007-4844-1154): Co-author, responsible for literature review and data collection.

• Advisors:

  • Limuza Fairuz, Lecturer, Army IBA, Sylhet.

  • Md. Ashraful Haque, Lecturer and Adjunct Professor, Army IBA, Sylhet; Lecturer, Department of Anthropology, Shahjalal University of Science and Technology.

• Summary: This study examines the adoption of Mobile Financial Services (MFS) and financial literacy among market merchants in Sylhet, Bangladesh. Through qualitative methods, including interviews with 24 merchants and thematic analysis, we identified barriers such as low trust and literacy gaps. We propose policy recommendations to enhance the uptake of MFS and support a cashless economy in regional markets.

• Keywords: MFS adoption, financial literacy, Sylhet merchants, financial inclusion, cashless economy.

• Citations:  

  • (APA 7th): Rafi, M. G. M., & Ruponty, I. Z. (2025, June). Exploring Mobile Financial Services (MFS) adoption and basic financial literacy among market merchants in Sylhet [Conference presentation]. International Conference on Financial Literacy and Economic Wellbeing (ICFLEW 2025), BRAC University, Dhaka, Bangladesh.

  • (Chicago 17th): Rafi, Md Golam Mubasshir, and Israt Zarin Ruponty. 2025. “Exploring Mobile Financial Services (MFS) Adoption and Basic Financial Literacy among Market Merchants in Sylhet.” Paper presented at the International Conference on Financial Literacy and Economic Wellbeing (ICFLEW 2025), Dhaka, Bangladesh, June 26.

Presentation Slide

Below is the presentation delivered at ICFLEW 2025, highlighting our research findings on MFS adoption and financial literacy in Sylhet markets.

Research Team

Photo Gallery

Moments from ICFLEW 2025, including presentations and research activities.

Research Impact

This research provides actionable policy recommendations to enhance Mobile Financial Services (MFS) adoption among Sylhet’s market merchants, addressing barriers like low trust and financial literacy gaps. By promoting MFS uptake, our work contributes to Bangladesh’s financial inclusion goals and the vision of a cashless economy. The findings are relevant for policymakers, financial institutions, and regional development agencies aiming to drive digital financial transformation.

Timeline

• January 2025: Initial abstract submitted to ICFLEW 2025

• March 2025: Received feedback and began revisions

• May 13, 2025: Revised submission completed

• May 15, 2025: Paper accepted for presentation

• June 23–25, 2025: Presented research at ICFLEW 2025, Dhaka

Acknowledgments

We express our heartfelt gratitude to the Army Institute of Business Administration (AIBA), Sylhet, for the BDT 4,000 research grant. Special thanks to our advisors, Ms. Limuza Fairuz and Mr. Md. Ashraful Haque, for their invaluable guidance. We also acknowledge BRAC University for hosting ICFLEW 2025 and the Sylhet market merchants for their participation in our study.