This assignment has been conceptualized with the objective to develop the embedded finance (EmFi) sector in Bangladesh. The assignment aims to conduct a market analysis to build up on the existing understanding of the challenges; opportunities; and potential solutions for scaling up EmFi in Bangladesh. The diagnostic will assess and understand the current state; appetite to change; current and required regulatory landscape; current and required use of technology; current and required allied market developments; and potential size of financial investments required; covering three key areas:a. Conducting a detailed review of the Bangladeshi EmFi context to understand the market barriers; suggest potential solutions; and identify potential pilot institutions; b. A detailed assessment of regulation and policy reform requirements for enabling EmFi in Bangladesh; andc. Collaborate with IFC to map out market leaders who can serve as potential partners for IFC in developing embedded finance market in Bangladesh.