School banking gets huge response with Tk 14b deposits

Bangla Tribune Desk
Published : 09:30, Sep 12, 2018 | Updated : 10:16, Sep 12, 2018

School banking.School banking is gradually getting huge responses from the students across the country as deposits with the banking accounts crossed Tk 14 billion at the end of June 2018.

The central bank’s latest quarterly report on financial inclusion shows that a total of Tk 14.19b was deposited with 1,539,836 school banking accounts at 56 scheduled banks as of June 30 this year.

According to the report, the school banking service is more popular in the cities than in the rural areas as 9,42,388 school banking accounts were opened in the cities against 5,97,448 accounts in the rural areas.

The banking is also more popular among the male students than the female students as 893,793 school banking accounts were opened by male students against 646,043 by female students.

“Bangladesh Bank launched the programme in November 2010 for school students to help them save up for the future, learn financial literacy at an early age and build the habit of saving,” a BB official told BSS.

Dutch-Bangla Bank, Islami Bank Bangladesh, Eastern Bank, United Commercial Bank and Rupali Bank are the five banks that pulled most of the deposits from the students.

Islami Bank opened 244,546 accounts, which is 15.88 percent of the total accounts, while Dutch-Bangla Bank ranked first by collecting deposits of Tk 4.24b with school banking accounts.