School students opened 14 million bank accounts

School students are getting priority as part of bringing the people of all classes of business under financial services. Since there is a bank account, the students are being encouraged to save for a short time. The popularity of school banking activities has been increasingly rising. As a result, the number of school banking accounts and savings status is increasing. The number of accounts has increased to 14 million by seven years from the start of school banking. At the same time the savings position has increased to Tk 363 crores.

It is learned that in order to introduce the students to the banking facilities and information technology service, the Bangladesh Bank issued a circular on November 2, 2010 for school banking. Since then, the commercial banks of the country started various schemes of attractive profits to motivate the students to save school. In 2010, the 'School Banking' program started, but students got the opportunity to deposit money since 2011. In the first year, the school banking account was opened to 29,080. It takes two and a half years to open 1.5 million school banking accounts.

Statistics show that up to 1.32 thousand 537 accounts were opened in the banks of the country under the school banking till December 2012. At that time the total status of the accounts was 96 million 51 lakh taka. And at the end of December 017, against the 14 lakh 53 thousand 936 accounts, the accumulated savings amounted to Tk 1,363 crore. That is, at the end of December 2016, the amount of deposited deposits against 1.25 lakh 370 370 accounts stood at Tk. In addition, the number of bank accounts in 2013 stood at two lakh 95 thousand 803. At that time the amount of the amount was 305 crore 79 lakh taka. Similarly, at the end of 2014, there were 8 lakh 50 thousand 303 school banking accounts. The amount of the accounting amount was 717 crore 49 lakh taka. At the end of December 2015, 844.19 million taka was deposited as small savings.

Participation of commercial banks is increasing with the interest of the students in school banking activities. As a result, the amount of deposits continued to grow in the banks as well as open accounts under this program. So far, private commercial banks are ahead in school banking activities. According to the update of the Bangladesh Bank, Islami Bank Bangladesh Limited is at the top of the account opening in the school banking. Next is Agrani Bank, Dutch-Bangla Bank, Rajshahi Krishi Unnayan Bank and Uttara Bank Limited. Dutch-Bangla Bank is the top position in terms of deposit or savings status. Then there are Islami Bank, Eastern Bank, United Commercial Bank and Rupali Bank Limited.

The concerned officials of the Bangladesh Bank say that school banking activities are going very well due to the active participation of school students, their guardians and commercial banks. In this, the participation of all public and private banks is satisfactory. Students are also happy to enjoy the benefits of banking activities by opening accounts in the bank. To make the school banking activities more dynamic, the Bangladesh Bank has already completed the 'School Banking Conference' in the divisional cities of the country along with various banks. The program will continue in future also. A large part of the population of the school is the students of the school. The habit of saving through school banking will give the children the sense of financial discipline, which will also help them in formulating their disciplined life. Attempts to bring these accounts under insurance are being tried.

In the end of December, 2017, 56 banks operating in the country are operating 56 bank schools. Students between the ages of 11 and 18, meaning sixth to 12 students, can open a joint account with their parents or legal guardian. With the initial deposit of only 100 taka, this account can be opened in most of the bank branches of Bangladesh. As no fee or charge is imposed. There is no obligation to even keep the minimum status.