Students of various schools have opened about 100,000 bank accounts within the past six months, a Bangladesh Bank report on school banking says.
According to the central bank’s latest report, 224,719 school students across the country opened accounts over the past three years or so, depositing an impressive Tk 1.28 billion till now.
The central bank had issued a circular in November, 2010, directing the scheduled banks to open accounts for school students.
Bangladesh Bank started school banking to make students familiar with banking services and technology, and to involve them in economic activities through savings.
According to the report, at the end of December last year, there were 133,000 accounts in 45 banks with a total deposit of Tk 9,605 million.
The number of such accounts rose to 224,719 in 46 banks until June this year, showing a deposit of Tk 1.28 billion.
Currently, the average savings in these accounts work out to about Tk 5,716.
Students have 4,270 accounts in state-owned commercial banks. On the other hand, they have opened 4,279 accounts in specialised banks, 215,597 in private banks and 597 in foreign banks.
Nine banks that recently got their licences are yet to introduce school banking.
Source: bdnews24.com(September 07, 2013)
Sayed Farrukh Ahmed
Faculty of Business & Economics
Daffodil International University