Five local companies have been selected as finalists of Inclusion Plus, a global competition for entrepreneurs, nonprofit and other social impact organisations on products, programmes and services that increase financial inclusion of low-income people in Bangladesh.

Apon Wellbeing, Green Delta Insurance, SAJIDA Foundation, Shakti Foundation and ShopUp will compete in the final round in May.

Over 50 organisations submitted innovative products, programmes and services for a $100,000 grant from MetLife Foundation, the foundation said in a statement yesterday.

In the semifinal round, 20 advancing teams worked closely with MetLife employees to refine their pitches and entries, according to the statement.

“Competitions like Inclusion Plus help organisations think beyond traditional norms and deliver innovative solutions that have positive impact to society,” said Md Nurul Islam, chairman of MetLife Bangladesh, Nepal and Myanmar.

“In a country where a majority of the population lacks access to traditional financial services, the finalists' solutions have the potential to make a huge impact on people's ability to build financial health.”

“We look forward to following the winners as they scale their ideas, contribute to financial inclusion, and in turn, Bangladesh's on-going evolution from the least developed country category to a developing country.”